Definition Of Social MediaSocial media includes web-based and mobile based technologies which are used to turn communication into interactive dialogue among organizations, communities, and individuals. Andreas Kaplan and Michael Haenlein define social media as-“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 ubiquitously accessible, and enabled by scalable communication techniques. Purpose of Social media is to keep it up to date.
Classification of Social media There are six different types of social media:1)Collaborative projects (e.g., Wikipedia)2) Blogs and micro-blogs (e.g., Twitter)3) Content communities (e.g., YouTube)4) Social networking sites (e.g., Facebook)5) Virtual game worlds (e.g., World of Warcraft) and6) Virtual social worlds (e.g. Second Life).
Classification of Social media continued.The honeycomb framework defines how social media services focus on some or all of seven functional building blocks-a) Identityb) Conversationsc) Sharingd) Presencee) Relationshipsf) Reputation andg) Groups
Most popular Social networking sites and their market share According to ComScore, up to end of November 2011 Unique Visitors % Facebook 17.8 % Twitter 4.2 % LinkedIn 4.6 % 55.1 % Google+ 6.6 % MySpace 11.7 % Others
Social Media TrendsCompanies have found that social networking sites like Facebook and Twitter are great ways to build their brand image. The major uses for businesses in social media are:a) To create brand awarenessb) As an online reputation management toolc) Engagement and Word of Mouth publicityd) As a lead generation tool to intercept potential prospectse) Research and CRMf) Complaint redressal and Feedbackg) For recruitingh) To learn about new technologies and competitorsi) Small businesses use extensively to promote & sell their products
Case Study 1- By Sanjiv Choudhary Scope of case study- To create brand awareness As an online reputation management tool Engagement and Word of Mouth publicity As a lead generation tool to intercept potential prospects. Kraft Foods Ltd. An application developed for smart phone users- Covers: Brick an mortar Click an mortar Social media Mobile Internet Analytics Cloud ServicesBased on the principles that govern the Social media marketing today i.e. Co-creation Sharing Monetize
Case Study 2- By Sanjay D’Souza Scope of case study- For recruiting
Social media has become the focus of not only our private lives, but our careers as well. Websites like Face book, Twitter, YouTube and LinkedIn have pretty much become a reflection of our daily lives. Employers have noticed this too. Social media has become the number 1 source of potential employees and talents for employers and recruitingcompanies to hire. It is cheap, fast, convenient and one of the best ways to judge a person’s character.In a survey carried out by Jobvite earlier this year, it was seen that 92% of U.S. companies hire through social media websites, more so in websites such as LinkedIn and Facebook.
Case Study 2- By Sanjay Prajapati Scope of case study-Small businesses use extensivelyto promote & sell their products
ConclusionThe future of IT Industry and Marketing is SMAC.As we know that to achieve a “high” you have party drug called smack, so is the party drug for the IT Industry and Marketing also called SMAC. Because people like to have a chilling experience, as they live in The ICE Age Information Communication EntertainmentIndividuals and Companies that recognize this fact and provide a chilling experience i.e. the party drug called SMAC will achieve “the high” along with their Target Group, and those who don’t- God save them.