SOCIAL MEDIA MARKETING– ‘FIRE YOUR PR NOW’Author: Kevin Padiachy, University of Mauritius – MBA Cohort 09 -11 Submitted as partial fulfillment for the module on Strategic InternetMarketing You need a networking manager to build trust with both your online and offline customers
THE WORLD OF SOCIAL MEDIAPictures – Example : FlickrBlogs PlatformsVideo – Example: You TubeSocial Networks – Example: BeboSMSWiki – Example: TwikiLive casting – Example: KyteLifestreams – Example: PingCustomer service Networks – Example :Yelp The Power of the Long Tail of Internet Marketing
OBJECTIVE OF SOCIAL MEDIA MARKETINGGet Feedback on your products quickly and throughout the communityGet Engagement from the community through the networks they interactonline•Provide product information online and dissemination is done by the usersthemselves• Decrease the overall marketing budget of the business unit Why choosing social media marketing?
HOW TO GET IT DONE ?Examples of how to get it done onlineMeasure the content and quantity of blogs throughspecialized softwareMake use of social bookmarking sites such as DiggUse Google to send news alerts on promotional tariffsand servicesBuild a social network fan pageCreate a You Tube channel to enhance viewerinteractionSet up a Twitter account for news Don’t forget to make use of web analytics to measure your return on investment
WHY SOCIAL MEDIA WILL CHANGE MARKETING ? Why social networks? There are over 100 active social networks online presently The fifth P which is making a revolution to Marketing Products – Place – Promotion – Price - Participation The social marketing process is the fact that marketers get in touch with the customers in the online network space Who are the online customers? Almost everybody from individuals to corporations and marketing companies. The future lies in development of software that would enable users to synchronize between the online and offline world, i.e. to a successful bricks and clicks model The future of marketing
SOME STATISTICS ON SOCIAL MEDIA USAGE1. Sites such as Linked In, MySpace and Facebook are changing from public profiles to platforms for communication, creativity, advertising, and even commerce.2. In 2007, roughly 37% of the US adult population used online social networking at least once a month and this figure is expected to reach 50% by 2011.3. Global online social network advertisement budget is growing by a factor of two from 2007 will grow 82% from 2007 to date.4. There are more than 80 million active users on Facebook.com5. Facebook is the 2nd most-trafficked social media site in the world (comScore)6. A Forester study in Jan 2007 shows that Facebook and other equivalent social networks inspire trust. Why choosing social media marketing?
THE PROCESS OF SOCIAL MEDIA PARTICIPATION SOCIAL MEDIA AWARENESS Listen Measure Participate The Interaction of the stakeholders in Social Media Marketing
THE PUBLIC RELATIONS OPPORTUNITYConversations & RelationshipsSocial Media Optimization (SMO)Google Search is the new front pageSearch Engine Optimization (SEO) The Social Network Manager doing the job of the Public Relations Officer.
THE EMERGING CULTURE OF SOCIAL MEDIA MARKETINGSMM operates in an environment of complete transparency and veracitySMM operates in a gift economy where knowledge is shared free of charge asit is only in sharing that information gains in value.SMM is a relationship rather than a campaign when we speak of traditionalmarketingSMM operates in a sphere which is customer or viewer controlledFinally, SMM makes a bigger leap when online interaction also occurs offline –this leads to referrals and subsequently positive impacts on sales of productsmarketed online and/or sold offline. Marketing must acknowledge the power today lies in the hands of consumers
CONCLUSIONThe most difficult aspect of Social Media Marketingaccording to me remains the fact that marketersmust prepare themselves to face and managenegative feedback while undertaking open dialogueswith their customers on a social network. The qualities of marketers and Social Network Managers
SOCIAL MEDIA MARKETINGI look forward to have your comments and see you on Facebook Thank You!