MEMORANDUM TO: Mr. John Peterson, CEO of New Nordic Canada
FROM: Ahmed Haydar, Marketing Executive Manager
SUBJECT: Social Media
DATE: February 17th, 2015
Dear Mr. Peterson
The attached report, is a business case designed by the Marketing management team, which represents our findings regarding incorporating social media platforms into New Nordic Canada’s digital marketing campaign.
Our report includes an assessment of current top social media platforms, benefits, monitoring strategies, organizational approaches, costs and their forecasted impact on the growth of our products and services.
The digital marketing action plan outlined in our report reflects the results of our research in similar fields within a national and international marketplace.
We are especially grateful to the Marketing team , in particular the members of the digital marketing group, for their input. I look forward to discussing our recommendations with you and will be happy to meet with you and your staff regarding our report and its exciting implications for New Nordic Canada.
Sincerely
Ahmed Haydar
Introduction
Social media plays an important role in how products and services are discovered researched, and information is shared. As a matter of fact 60% of consumers found information on products and services through searches on multiple online sources such as networking sites. Active users of social media are more likely to read product reviews online, and 3 out of 5 create their
The use of social media marketing has become a standard way in which organizations advertise their products or services. Social media marketing allows consumers to have immediate access to other consumers reviews or to post a review about a product or service. There is engagement between the company and the consumer (Evans, Dave 2010). Social Media emerged in the late 1980’s when websites such as Prodigy, Compuserve and America Online. Prodigy was first of it’s kind and was known as a ”consumer online service”. Half of the page is devoted to advertising. Facebook, Twitter, Myspace, Hi5, Bebo and Orkut are all social media platforms that are utilized as platforms today.
Social media being an ever growing industry, companies have incorporated their marketing and strategies to better their businesses. We explore that the reasons for the importance of incorporating this is: The daily use of handheld devices to access social media on a daily basis amongst computer use, Big data: online tracking produces oceans of data, challenging business analytics programs, Twitter, Facebook, and Pinterest
One of the key roles of social media from a marketing perspective is the development of a client based platform. It is becoming an increasingly important part of any business’s marketing. Businesses can utilize existing online platforms to build networks of current and potential clients. By being active online allows businesses to connect with their customers in innovative ways to become a trusted source of information and convey the passion they have for their industry.
Social media has become an influential ground for consumers to share their opinions about a company’s brand and products. In addition, it helps in having a strong brand that produces positive relations and distinguish the brand from competitors, is a critical component for effective marketing. According to Dahlén and Lange (2009) “the quality of the product is not the evident factor when it comes to purchasing a product, the deciding factor depends on how the brand is perceived” (Para. 1). This demonstrates the importance of incorporating social media as a tool to promote brands, allow for interactions, and customer satisfaction by engaging with customers more frequently for feedbacks or reviews. Thus create an opportunity for the company to show its devotion to their customers, and initiate good reputation, which can increase sales. In other words, social media has the ability to upsurge the awareness for businesses as well as the brand.
We believe that the company should restructure its online marketing strategy, by a) building a strong identity on social media; b) turning existing customers into brand advocates; c) designing a better website and d) streamlining paid inclusion.
Moving forward, social media has been a major convenience and reward to virtually everyone. On an individual basis, social media allows friends and family both near and far to communicate with one another. Also, businesses are flourishing through the use of social media. Advertising has never been easier. Horn (2013) states, “Our profession, unlike any time before, is demanding we become social media (…) experts” (1). Horn (2013) also states, “More than half of reporters (55 percent) use Twitter and Facebook to source stories” (1). Social media has greatly benefited business life and personal life.
Social media has become essential as a marketing tool for CU's, which is why 74% of marketers are incorporating social media into their marketing budgets. The CMO Survey released in August 2014, indicates that “marketing budgets are expected to increase by 7.2% in the next year.” With 1.65 billion social accounts that are active globally, social media has become an effective
Social media is not new. Facebook has been around since 2004, YouTube since 2005, and Twitter in 2006. What is new is how social media sites like Facebook, YouTube and Twitter are affecting the way businesses market their products and services. Never before in our history have consumers been able to communicate so effortlessly with each other and with the businesses they frequent. Never before have businesses been able to interact and react to customer feedback so quickly and efficiently. However, just because businesses have the ability to use social media for their marketing and advertising efforts, does not necessarily mean they should. This paper intends to
Social Media has changed the communication setting for all marketers. “Perhaps the greatest value of social media marketing is your ability to foster and engage with a community of people” (moz.com). An involved audience is one of the greatest resources a brand can have. There
Digital Marketing Oshawa being a leader in digital marketing provides splendid services that satisfies the needs of the
Social Media: Social networks like all the online matter such as Youtube, Twitter and Facebook are so important that relevant companies should not defer their efforts to create the public image and enhance their both market and products’ effectiveness”
From a company standpoint, a social media can be used to capture different customer insights and better follow the trend. If some social media users were looking for a specialized product and were not able to find such product,
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The purpose of this report is to show that even though some state that Social Media has fallen short of their expectations, it is actually good for business, given that it enhances the visibility of their brand and helps businesses stay connected to potential customers.
Social media is defined as a group of Internet-based applications which build on the platform of Web 2.0 and the contents of these applications can be modified by all users in a participatory and collaborative method (Kaplan and Haenlein, 2010). Social media creates a platform for companies to talk to their customers as a hybrid element of promotion mix. With the emergence of social media, the tools and strategies for companies to connect with customers have also changed (Mangold and Faulds, 2009). To adapt with the emergence of social media in the marketing, companies should have unique insights about these significances (Quan-Haase and Young, 2010). The significances of social media embody three main aspects which are technology, decision-making and purchase behaviors of customers.