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Social media and its applications in marketing
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Social media and its applications in marketing

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For international conference in Lviv, 2010

For international conference in Lviv, 2010

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    Social media and its applications in marketing Social media and its applications in marketing Document Transcript

    • Extended abstract Social media and its applications In contemporary marketing world the internet in marketing marketing has been developing rapidly especially in social media area. Social media are media for social Andrey Markin interaction, using web-based technologies to transform and broadcast media monologues into social media Marketing and advertising management department, Faculty dialogues. Nowadays it is the place where customers and of Economy and management, Saratov State Social Economic prospects share information about brands and companies. University, RUSSIA, Saratov, Raditscheva street, 89, E-mail: andreasme@rambler.ru The key feature of social media is its impact on purchase funnel. The social media world has transformed it in the opposite. Nowadays the current conversations Abstract – The article covers the contemporary issues of about post-purchase experience have become a quite social media and its applications in marketing. impactful on consideration phase and even awareness. Social media consist partially of user experiences and in Кеуwords– social media, social media marketing, purchase most cases the search engine is one of the first ways to funnel, permission marketing, social media marketing functions find some information about product or company. Social media marketing is based on concept of I. Marketing nature of social media permission marketing. Unlike interruptive marketing interaction with company begins only by customer’s In contemporary marketing world the internet marketing permission. has been developing rapidly especially in social media . Involving current customers into conversations by area. There is a lot of buzz around it. Marketers should providing clear benefits of interaction company gets pay attention to this phenomenon in order to keep their access to most loyal audience which is open minded about business competitive. new product and features. Social media are media for social interaction, using Company can use social media for different purposes: highly accessible and scalable publishing techniques. 1. brand monitoring Social media use web-based technologies to transform 2. customer relationship management and broadcast media monologues into social media 3. crowdsourcing dialogues [1]. 4. customer’s support One of the points of social media is that it is the place 5. community building where customers and prospects share information 6. promotion including mentions about company, brands and so on. 7. selling The key feature of social media is its impact on 8. public relations purchase funnel. Traditionally all attention was focused 9. promotion on awareness and consideration phases while post- Social media marketing is not only about purchase behavior was underestimated. The social media communication mix as it is generally considered but it world has transformed it in the opposite. Nowadays the also includes R&D, product and sales policies. current conversations about post-purchase experience Social media marketing gradually has becoming one of have become a quite impactful on consideration phase and overall marketing strategy and can be realized through even awareness. Social media consist partially of user variety of function. Companies should pay attention to experiences and in most cases the search engine is one of this area of marketing and apply it in current business the first ways to find some information about product or activity in order to stay competitive. company. Simple type “product reviews” or something equal leads prospects to relevant discussion about products where peers share their opinions and experience of usage. Nowadays people trust such sources and form their attitude based on peer’s experience. Social media marketing is based on concept of permission marketing. Unlike interruptive marketing (traditional and digital ad campaigns) interaction with company begins only by customer’s permission, so that provides more relevant audience. That type of company’s presence in social media doesn’t irritate customers, besides they can unsubscribe anytime. Moreover company’s current customers become more reachable if company communicates with them and offers relevant and useful content. Involving customers into conversations by providing clear benefits of interaction company gets access to most loyal audience which is open minded about new product and features[2]. II. Social media marketing functions Company can use social media for different purposes
    • called social media marketing functions: people. 1. brand monitoring. It is the basic application of Company can formulate strategy approach for work social media for marketing. As there are a lot mentions with community. It should help to answer following about company and brands, marketers should track them. questions: It is look like a continuous marketing research with • channels that should be used (one or multiply exception it costs less and provides more relevant results. channels) Marketers can track different dimensions: • content strategy (frequency, people, moderating • the most popular channels where people share their user-generated content) mentions • how to encourage people to share information and • the most influential individuals who write about add their contribution in community? brand • how to keep community alive? • mentions by itself (positive, negative, neutral) By brand monitoring company gets insightful • which goals should be achieved by community? information about itself, perceptions by customers and 6. promotion. It has become a common practice to competitive intelligence. This basic step allows to make integrate traditional advertising campaigns with social more thoughtful decisions in using social media for media activity and provide a reference in ad materials to marketing. social media sources. The ability of social media to 2. customer relationship management. Social media encourage people to make thoughtful decisions about provide a great opportunity to stay directly connected purchase of product is realized via ratings, reviews and with customers using their social media. For example, voting process. When prospects have seen that this using “Facebook connect” button on websites, company product is highly recommended by other peers (and these tracks behavior of current customers around social individuals are interested in this product category), the networks and other forms of social media. probability of expected behavior has become more 3. crowdsourcing. Your customers and prospects sufficient. currently have knowledge about their own needs; they 7. selling. It’s not a common practice to sell products in know even better than your company what they want. social media because nowadays we don’t have a big Using the power of crowd and its ideas company can variety of goods that can be social. But this moment develop new product or modify the old one. Listening should be paid attention because later it will become a what customers are upset about and what they think to be huge trend. unattractive in your product can provide a huge impact on 8. public relations. Information dissemination has company’s product portfolio and communications policy. become a much easier in digital age. Nowadays reputation 4. customer’s support. One of the basic features of management proceeds instantly and press-service social media is that it turns to current customers. interacts with bloggers, influencers as well as traditional Company can solve fast and easily their problems by journalists through different social media channels. For using social media. Social media marketer can connect example, for instant updates marketers can use Twitter of with this person who wrote a negative review about brand Facebook posts, while full press releases appear in and simultaneously transfer information about problem to corporate blogs and online communities. responsible services inside the company. Public relations in social media are characterized by There are different areas of realization of this function: ability of one-to-one communication between company and person. That’s why company can find out the source • providing information about company and its of dissatisfaction immediately before the negative buzz products, it’s also can be information about some spreads around brand or company. kind of discounts and special offers; 9. promotion. For social media marketing awareness • questions & answers. Traditional FAQ in most isn’t the main characteristic, but in some cases company cases can’t help people to solve their problems can promote goods and services through social media related to the using of product, so dynamic social channels. One of the main ways is using viral content questions & answers sites or mass social (video, apps, games and so on). The other way is usage of networking sites (Facebook Q&A) is the great geosocial networks such as Foursquare or Facebook opportunity to fix that bug rapidly; Places for building local awareness or involving in • customers training. Sometimes it takes some time promotional games. to teach people how to use the product. Social So we can notice that social media marketing is not only media provide such opportunity in different forms about communication mix as it is generally considered, (advertising games, interactive manuals, podcasts, it’s also include R&D, product and sales policies. webinars and so on). 5. community building. Well reached and loyal Conclusion auditory is the main goal of social media marketing. Company can translate information, interact with Social media marketing gradually has becoming a part customers and even sell products though it is not the key of overall marketing strategy and can be realized through point of this function. The benefit for people consists with variety of functions. Companies should pay attention to such privileges as: this area of marketing and apply it in current business • discounts, special offers activities in order to stay competitive. • relevant content • opportunity to stay connected with like-minded
    • References [1] http://en.wikipedia.org/wiki/Social_media [2] D. Court, D.Elzinga, S. Mulder, and O. J. Vetvik. The consumer decision journey. McKinsey Quarterly 2009