Without access to social media a brand can become lost. It would be beneficial to any brand, large or small, to utilize social media to expand their brand awareness and enter into new markets. Twitter grants one-on-one interaction with our consumers. This makes us more approachable, we are viewed as people instead of a brand. It created trust between us.
The Five Forces Model Since Twitter wants to generate revenue, first of all, it needs to evaluate its Business Segment. For this, Porter's 5 Forces Model can be applied: 1) Rivalry among existing competitors (high: Facebook, Google) 2) Buyer Power (high: users of Twitter can easily switch if they feel that their privacy is violated) 3) Supplier Power (low: I don't see any real supplier for Twitter) 4) Threat of substitute (low: SMS, MMS, Emails and so on) 5) Threat of new entrants (high: anyone with good computer knowledge can create a social network) Alternatives Here is a brief list on the alternatives I think Twitter should take into consideration 1. Sponsored/Promoted tweets, 2. Sales of analytic tools and services to advertisers, 3. Sales of information to other data-collecting companies Recommendations There are two recommendations that can generate revenue for twitter and will also cater the issues Twitter is facing.
D1 In order for Coca-Cola to figure out whether or not an internet marketing technique is worth the cash of cash and the hard working hours, you need to have fantastic marketing evaluation techniques. There are different areas of an internet marketing technique that can indicate whether or not the program was successful. Once you have your evaluation techniques in place, you can begin to modify your marketing applications to create them more effective. Sales are one of the more important techniques they will use to evaluate the strength of their marketing applications is to evaluate how a program affects income. You should know what your income design is, so be sure to take that into account when assessing the effect of your marketing on income.
By using the social media, web pages and purchasing advertisement banners McBride Finance Services pinpoint a particular group of people. “Web 2.0 social media applications such as Twitter and Facebook create new opportunities for firms to improve their internal operations and to collaborate in new ways with their customers, business partners, and suppliers” (Culnan, McHugh, & Zubillaga, 2010, p. 1). Advertising on the Internet can be tough; it may require the use of a consultant who specializes in Internet marketing. McBride Financial Services would benefit by starting off small when using the Internet market their services. Conclusion McBride Financial Services provides a require service for anyone that is in the market for a residence or recreational property.
The company was also able to advertise their product using various approaches such as emotional settings; this is where types of adverts catches the consumer feelings allowing them to be involved or allowing them to purchase a product based on emotions. Social media is another flexible advertisement because it is used based on the internet, where their consumers are able to browse anywhere to get information about the campaign. Also using social networks used by their consumers to promote the company’s
Assignment 1: Social Media Laura M. Simmons Professor Kristi Lea Harrington LEG 100—Business Law 1 April 29, 2013 The major social media outlet that I chose to write about is www.vocus.com advertise 1.4 million businesses such as Aloft Charleston Airport and Convention Center near Tanger Outlets. Discuss the four (4) components of a legally astute social media marketing manager who utilizes social media outlets for consumer transactions and how each component can mitigate the risk involved in doing business in cyberspace. Legal astuteness is the ability of a manager to communicate effectively with counsel and to work together to solve complex problems. Legally astute managers can (1) negotiate contracts as complements to trust building
Book Review: Contagious; Why Things Catch On Abstract With the rise of the internet, the term viral has become its own definition and has itself, become viral. Even with today’s version, social epidemics have been around as long as society itself. The phenomenon is interesting in its own right as it says something how we interact. To understand how social epidemics work, it can hold a great value because when something goes viral the effect has a big impact on behavior and the bottom line of an item. Understanding why something goes viral is straightforward enough as it has to be something that has an impact and people are eager to talk about or imitate; for example the recent ice bucket challenge or Harlem shake.
Conclusion 10.Reference WHAT IS SOCIAL MEDIA? Social media refers to the means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks. Social media differentiates from traditional/industrial media in many aspects such as quality, reach, frequency, usability, immediacy and permanence. Due to the increase in social media websites, there seems to be a positive correlation between the usage of such media with cyber bullying, online sexual predators and the decrease in face-to-face interactions. Likewise, media seem to be influencing kids' lives in terms of exposing them to images of alcohol, tobacco, and sexual behaviors.
In turn attempting to create loyalty and "friendship" with an inanimate object, yet the author explains how consumers may actually enjoy it. By developing promotion strategies that can deliver a message to a consumer, as well as being able to create a clear message is how this article can relate to Integrated Marketing Communication. It is basically the definition of it because this articles writes about some of the major companies that are using medias such as twitter, facebook, or instagram to portray their products or services. It talked about how Apple is one of the companies that have been able to successfully make consumers build some sort of friendship with their products. This article also relates to IMC because the author speaks about CMO's and how they use the media strategies to try and make their products "speak" to consumers.
The extent of data derived from social media site, nowadays, requires an efficient team media analytics expert. In fact, social media, today, is proving to the major source of big data for companies and this raised the importance of social media analysis even more. The use of social media marketing has the raised the conversion rates significantly. This means that a company’s the targeted group of consumers are turning into its permanent customers. All thanks to data collected through social media platforms and media analytics experts, businesses, especially startups, are have managed to establish a brand value among their competitors.