Social Media Research
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Social Media Research

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Final Presentation of our research on Social Media. BBA 4th year.

Final Presentation of our research on Social Media. BBA 4th year.

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  • Ahsleigh
  • Ashleigh - 10 seconds
  • Ashleigh -
  • Ashleigh: lots to say about this! But I will sum it up to 30 seconds
  • Ashleigh
  • Ashleigh
  • CHLOE to do this slide
  • CHLOE TO DO THIS SLIDE
  • CHLOE
  • CHLOE
  • Diskson: 12 hours a day, always on his blackberry. In the back of his mind all the time.Says he spends 50% of his time on SM.
  • Dickson
  • Dickson
  • Matt
  • Matt
  • Matt
  • Matt9% increase – readwriteweb.com
  • Ashleigh
  • Ashleigh – 1.5 min
  • AshleighEspecially useful for small companies with small budgets, and
  • Ashleigh

Social Media Research Social Media Research Presentation Transcript

  • Bus468:Social Media
    Chloé
    Matt
    Dickson
    Ashleigh
  • Agenda
    Introduction - Social Media 101
    Methodology - What we did, how we did it
    Analysis - What we found
    Risks – Dangers of Social Media for businesses
    Conclusion
    Recommendations – Best practices
  • What is Social Media?
    Safko and Brake (2009):
    “Refers to activities, practices and behaviours among communities of people who gather online to share information, knowledge, and opinions using conversational media.”
    “Conversational media are web-based applications that make it possible to create and easily transmit content in the form of words, pictures, videos and audios.”
    Extensive, wide-reaching, enabling.
    About people
  • 5 Ways of Using Social Media
  • Our Research Question
    How can organizations use and get the most of Social Media and what are the impacts to be expected, on an individual, company-wide and industry level, when these organizations incorporate Social Media into their marketing plan?
  • Methodology
    Theoretical research:
    Blogs, leading to books and articles
    Practical research:
    Interview with two different companies
  • Companies We Interviewed
    Hurray! Solutions (fictive name)
    Electronic Components
    4 employees, home office
    Use SM to educate consumers, drive traffic to website, build a network, hopefully increase sales
    Acme Design Inc. (fictive name)
    Digital agency
    Big International clients
    Use SM to have an online presence & to drive traffic to their website
  • Costs & Risks of Social Media
    Time required (cost)
    Initial implementation
    Ongoing
    Difficulty of measuring ROI
    Can track website traffic, and traffic to sales. But cannot track Social Media  Company Website  Sales
  • Benefits of Social Media
    Cost-effective
    TV ads vs Youtube
    Feedback mechanism
    Blog comments, criticism
    Recruitment drive
    Attract employees through LinkedIn
    Build brand awareness
    Increased search engine rankings, exposure
    Targeted marketing
    More effective for small companies
  • What We Found at Hurray! Solutions
    Individual Level
    Need to be professional all the time
    Feedback mechanism
    Company-wide level
    Three people involved in blogging process (out of 5 staff)
    Social media still has to go through the website
    Attract early adopters (target market), users of SM
    Industry-wide level
    Does not help them keep tabs on competitors, but may in the future (when they catch up!)
    Market research tool
  • What we found at Acme Design Inc.
    Individual Level
    The VP of digital strategy responsible for SM
    Every employee is allowed to blog, as long as it is not about a client
    Company-wide level
    They only hire people that they trust
    Goal is still to drive people to their website
    Wikis for knowledge-sharing, internal communications
    Industry-wide level
    B2C company, so SM is not a main priority
    Many competitors use SM, able to monitor them
    Generate authority, credibility and transparency in the long run
  • Summary of Observations
    Things that companies did well
    Adopting the latest technology, embracing it
    Creating communities
    Market research, addressing customer needs quickly
    Things that need improvement
    Tracking (SM  traffic  SALES)
    Tracking time spent on social media, then doing ROI analysis
  • The Tools and their Use
  • The Tools and their Use (con’t)
  • Business Risks
  • Solutions to Business Risks
  • Damage Control
  • Recommendations
    Social media marketing should be utilized by B2C companies more than B2B
    Must have a well defined SM policy
    As with all marketing, should have a clear idea of who your market is. Maintain an overall marketing strategy.
    Should be mindful of the ‘hidden costs’ of SM
    Pay attention to associated risks.
  • Conclusion
    There are proven benefits in using Social Media as a marketing tool
    Transparency
    Service
    Marketing and promotion
    Feedback and market research
    Community building
    Still difficult to demonstrate direct results on a P&L statement
  • Thank You for Listening!
    Are there any questions?