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Social media Impact on Business
- 1. SOCIAL MEDIA IMPACT ON BUSINESS Gerald Pham Xavier Freeman Jonathan Weber
- 2. BENEFITS OF SOCIAL MEDIA • Revenue • Brand Development • Attracting Customers • Research • Recruitment • Search-Engine Discoverability
- 3. REVENUE • Build a Community • Advertise Products or Services • Link to Your Business' Social Media Page or Business’ Website. • Promote Your Business • (More Post = More Publicity) • Cheaper Advertisement
- 4. BRAND DEVELOPMENT • Allows Customers to Connect & Interact (Personal Level) • Easy Access for New Customers • Further Develop Your Brand • Give Your Business A Voice
- 5. ATTRACTING/RETAINING CUSTOMERS • Attract Followers with Promotions or Giveaways • Personalized Social Media Campaigns to Encourage Customers to Stay. • Be Creative • Be Socially Active • Great Customer Service • Direct Line of Communication
- 6. RESEARCH • Your Business vs other Businesses • Customers’ Feedback • Product/Service’s Feedback • Know Your Demographic • What’s Trending
- 7. RECRUITMENT • Advertise vacant positions. • Job networking sites • Use Networks to attract skilled people. • Skilled People = Higher Production, = Happy Customers, = Higher Income
- 8. SEARCH-ENGINE DISCOVERABILITY • Search Engine Optimization (SEO) strategy. • Ranking in Search Results sometimes affected by Size & Influence of Social Network • Social Media Following Grows = Visibility in Search Engines may Increase
- 10. CREATING A SOCIAL MEDIA BRAND FROM SCRATCH • Remain Consistent Across Every Social Platform • Humanize Your Brand to Deepen Your Relationship with Customers • Decide on the kind of content that you’ll share on different social media platforms • Knowing When to Post
- 11. How do you feel when you discover a different description of a business on different social networks? Less Engaging • Keep Your Business Social Media Consistent with ALL PLATFORM • Consistent also with your Overall Brand • Voice • Imagery • Colors • Overall outlook REMAIN CONSISTENT ACROSS EVERY SOCIAL PLATFORM
- 12. HUMANIZE YOUR BRAND TO DEEPEN YOUR RELATIONSHIP WITH CUSTOMERS • Find Interesting Third-party Content of Your Brand • Share Them. • Allow Customer Interactions. • Promotional Product updates to Generate Sales. • Entertain Your Followers (As a Business) • Behind the Scene Events • Share Employees Pictures • Let Your Customers Know Them • Put a Face on Your Brand • Communicate • Reply to comments • Go Live and Interact, etc.
- 13. DECIDE ON THE CONTENT THAT IS SHARE ON DIFFERENT SOCIAL MEDIA PLATFORMS • Posting the same content across every social channel = Lazy • Be consistent, but Be Different • Examples: • Snapchat: Behind the Scene of that Product/Service • Instagram: Great Picture/Video Content of that Product/Service • Facebook: Information about that Product/Service • Twitter: News about that Product/Service. • All different content, but about same content.
- 14. KNOWING WHEN TO POST • Don’t Create an Account, Post Once, and Disappear. • Rules To Go By: • Facebook: A couple of updates per day • Twitter: Three times per day • Instagram: Once per day • Snapchat: Don’t drag out event, Short and Sweet. (No longer than 6- 8 Full Video Post)
- 15. COMPANIES USING SOCIAL MEDIA
- 16. DOMINOES PIZZA • Dominos pizza tries to find ways to connect with their customers, one way they did that was by twitter. In May of 2015, Dominoes announced a hashtag called #EasyOrder which allowed customer to order with a tweet. This led to a 50% increase in sales from social media and led to Dominos establishing themselves in using marketing on social media.
- 17. TACO BELL • Another example of companies using social media to help market their products is Taco Bell. Taco Bell launched a campaign that was introduced on snapchat. It was created to hype up a new item on the menu that was not released yet. • All followers had to do was follow Taco Bell on Snapchat and wait for Taco Bell to release it. This led to hype over the new product and greater interaction on social media and highlight their new product. • The hype was so huge that Taco Bell revealed the Quesalupa during the Super Bowl.
- 18. CARDS AGAINST HUMANITY • Cards against humanity is a game for much older people. It’s a very explicit game that got general buzz but didn’t take off till it used twitter for a Black Friday Campaign. • The company joked about other companies that offer crazy deals and it gain buzz on social media. Through this the company earned 71,145 dollars in Sales that year. Cards Against Humanity showed that jokes can get buzz on social media and increase sells as well.
- 19. 20 CENTURY FOX • 20th Century Fox went all out for it’s promotion of DEADPOOL. They Used social media from YouTube to Twitter to give fans teasers to promotes the upcoming movie. • The actor Ryan Reynolds also interacted with fans as his character Deadpool, which gave fans a sense of welcome as they get to interact with their favorite actor/hero. • The movie twitter handle gained 450,000 followers and elevated the already highly requested movie.
- 20. CONCLUSION Social media marketing is an incredible way to build your brand and company. Social networks have millions of users from your target audience–people who are socializing every day, and those that are eager to discover new brands. Businesses will continue to use social media as it plays a major role in today’s society.
Editor's Notes
- The most obvious opportunity is to generate revenue. This can be done through building a community or advertising your products or services within the social media platform. If you choose to advertise in social media, the ads can either link back to your business' social media page or sometimes to your website. This can mean that you're able to benefit from social media without needing to have a channel.
- Using social media allows your customers to connect and interact with your business on a more personal level. If you already have an established brand, social media might be an opportunity to further develop your brand and give your business a voice.
- Social media can be a good way of attracting new customers. For example, when considering social media campaigns, you could try to attract followers with promotions or giveaways. Once you have a good following you can focus on more personalized social media campaigns to encourage them to stay.
- Even if you think social media is not suited to your business or that you don't have the time, simply logging on to see what your competitors are doing in this space, or finding out what your customers are saying about you might be a valuable exercise.