Social media marketing - MBA Project - International Marketing

Social media marketing - MBA Project - International Marketing

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  Social Media Marketingin an international environment International Marketing GSO-MI, Nuremberg prepared by Anand P. Waindeshkar December 2013 and Andrey Kolesnichenko
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  2 Agenda Introduction & Definition  Types of Social media & Channels  Advantages & Disadvantages of SMM (SWOT)  Past, Present & Future  How does it works - Case study  Conclusion
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  What is SocialMedia? 3 Social media is a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content. Social media is best understood as a group of new kinds of online media, which share most or all of the following: Participation Social media encourages contributions and feedback; blurs the line between media and audience. Openness There are rarely any barriers to accessing, creating and making use of content. Conversation Traditional media is about “broadcast”, social media is better seen as a two-way conversation. Community Social media allows communities to form quickly to share common interests. Connectedness Most kinds of social media thrive on their connectedness, making use of links to other sites, resources and people.
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  What is SocialMedia Marketing? 4  Social media marketing (SMM) - is the practice of facilitating a dialogue and sharing content between companies, influencers, prospects and customers, using various online platforms including blogs, professional and social networks, video and photo sharing, wikis, forums and related Web 2.0 technologies.  Social media marketing is marketing using online communities, social networks, blog marketing and more. “Users are in control – as content consumers, as publishers and as influencers”
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  Place of SMMin Traditional Marketing MARKETING Traditional (old) Digital (new) 4 Billboard Radio TV Print Website Email RSS Widgets Social Media Content Banners Podcast
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  Types of Socialmedia & Channels 6 Source: McKinsey Report - Social Economy. 2013. McKinsey Report - Social Economy.
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  Advantages and Disadvantagesof SMM - Benefits 7 Reaching Audiences  Content Distribution. A fast way to distribute content to a wide audience.  Communications. Converse directly with customers or potential customers.  Crisis Control. Monitor and then quickly react to negative customer experiences.  Brand Building. Create a message; repeat and strengthen over networks.  Establish Expertise. Share your expertise and knowledge with a large audience. Discovery  Customer Research. Segment customers and explore industry focused networks to learn what customers want.  Industry Research. Learn new trends, tools and other information to help you expand your business  Competitor Research. Keep an eye on competitors to see what they are doing.  Word-of-mouth Monitoring. Keep tabs on your brand and what people are saying. Medium  Low cost. Involvement in most social networks is free to join and contribute.  Speed. Services in the cloud are available anywhere and as soon as you contribute it is distributed.  Viral. Social media is easily shared and distributed iteratively.  Mashable. Mix information and social media to make new things or intermix with your own marketing.
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  Advantages and Disadvantagesof SMM - Negatives 8 It's not the perfect marketing solution; here are some considerations... Time Consuming With all these networks, people and tasks, it truly is difficult to keep up. Speed Speed was a benefit, but just as fast as you can get info out and positive reviews can spread, so can the speed of negative information and opinion. Viral Another benefit that can also be a negative. Bad feedback and word-of-mouth can quickly be passed along. Change/Loss of network or rise of new MySpace is losing ground, what network could be next; or what next network will grow and add to your list of responsibilities.
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  SWOT Analysis ofSMM 9 • Large market reach or penetration • Build a conversation and converse with others and build close networking bonds • Human factor: Your “brand” becomes more human • Direct contact with audience (almost like face-to-face) • Engages prospects through customer evangelism W • Ever-changing environment • Reputation Warfare • Time investment and personnel • Pull marketing • KPI’s must be measurable • Lack of privacy • Increase in customer complains O T • Reach out for certain groups that traditional media didn’t allow you to • Developing a following/audience that auto-nurtures itself • Way for businesses to communicate with their customers • Quick delivery, branding opportunities, and enhanced marketing opportunities • Develop applications to interact with target audience, e.g. students • Competitor is going after the same space or same audience with similar campaign • Has no solid revenue model • Advertisement on the sites • Account hacking • Employees • Emotion / Irresponsibility • Customer desensitivity S
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  10 Past, Present& Future of Social Media
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  11 Past, Present& Future of Social Media
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  12 Past, Present& Future of Social Media Present Social Media
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  PAST: 1) SocialNetworking 25 Years Ago: CompuServ, Prodigy & The Well 2) The Bridge Between Online Services & The Internet: AOL 3) Social Networking in Web 1.0: GeoCities, Tripod & Yahoo! Groups PRESENT: 1) Social Networking in Web 2.0: Plaxo & LinkedIn 2) Modern Social Networking: Friendster, MySpace & Facebook 3) Social Networking goes Real Time: Twitter 4) Social Networking is Becoming Mobile: Foursquare and Skout FUTURE: 1) The Social Graph Will Become Portable 2) We Will Form Around “True” Social Networks 3) Privacy Issues Will Continue to Cause Problems 4) Social Networking Will Become invasive 5) Third-Party Tools Will Embed Social Features in Websites 6) Social Networking (like the web) Will Split Into Layers 7) Social Chaos Will Create New Business Opportunities 8) Facebook Will Not be the Only Dominant Player Quick Review Source: http://techcrunch.com/2010/12/05/social-networking-future/
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  14 Social MediaAdvertising - How does it works??  THE ELEMENTS OF SOCIAL MEDIA ADVERTISING/MARKETING: 1. Social Strategy & Planning 2. Matching the Content to Web Demand (Blog development etc.) 3. Engagement of the Costumer, prospect & internet user from target audience (Social Media Campaign Management) 4. Staying Ahead of the Curves 5. Social Media Analytics & Audits  THE ADD-ON’S: 1. Graphic Designing 2. PayPerClick Network Development 3. Consulting 4. Customize Campaigns
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  15 Ford SocialMedia - Case Study Please follow the link http://youtu.be/jLu2wz3bizA
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  16 Conclusion Professional Advice  Benefits of Data Sharing  Effective Results will take time  Avoid the conflicts of thoughts  Be careful with the content release  Freedom of Speech  Powerful tool but need to use in Effective way  Here to stay
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  17 List ofsources used: 1. Andreas M. Kaplan, Michael Haenlein. 2009, Users of the world, unite! The challenges and opportunities of social media. Business horizons, 53, 59-68 2. Demystifying social media | McKinsey & Company . 2013. Demystifying social media | McKinsey & Company . [ONLINE] Available at: http://www.mckinsey.com/insights/marketing_sales/demystifying_social_me dia. 3. McKinsey Report - Social Economy. 2013. McKinsey Report - Social Economy. 4. S.Neti. Social media and its role in marketing, International Journal of Enterprise Computing and Business Systems, Vol. 1 Issue 2 July 2011 5. http://www.vsrdjournals.com/MBA/Issue/2012_05_May/Web/3_Nityananda _Jati_672_Research_Communication_MBA_May_2012.pdf 6. http://techcrunch.com 7. www.youtube.com
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  18 Thank youfor your attention