Swot Analysis: SWOT Analysis Of Riversong

Lack of brand awareness by public who have never used this type of service before

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.

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

Successful social media sites are effective for sharing information, for project collaboration, and for communication. One of the advantages of social media is that there is a direct interaction with their followers, from a marketing point of view, this is an ideal situation. Marketers have their target audience’s attention. All they need to do is to deliver their message. Whether one’s goal is to share information, develop a network community for feedback or for promoting a project or idea, social media can be a powerful

The effectiveness of Social Media can be improved depending on what metrics the marketing managers

When many people think of and use social media they only think of it from a personal view. However, more and more companies have discovered that this electronic network can be used for business purposes as well. Social media can provide a platform for companies to share knowledge and opinions, and announce information to their audience of followers. It can also generate valuable data about how a company’s customers think, shop, vote, and spend their leisure time. Many companies have incorporated social media in their business to better communicate with customers, better communicate with their supply chain, educate, and increase their visibility. Today’s marketplace is highly competitive and it is crucial for companies to think of innovative new ways to stay ahead of the competition.

From early startups to multibillion-dollar companies, social media has helped even the playing field, regardless of size to compete. For new entrepreneurs, social media offers a more cost effective way to create brand loyalty. One example of a young startup company relying heavily on social media is Dollar Shave Club. CEO, Michael Dubin, started the mail order service for premium quality razors in 2011 and became successful with viral YouTube commercials. Dollar Shave Club was able to fulfill 12,000 orders in the first two days and take the unknown company to having over 5 million views within three months. By using all forms of social media, Dollar Shave Club’s first video now has over 20 million views. Advertising would have cost a company of this size millions of dollars to reach the amount of potential customers businesses can now, so social media has helped increase the competition between the startup’s and the well-established.

Social media has opened up a new range of possibilities for brands and marketers all over the world. Social media refers to a collection of websites and applications on the internet that facilitate interactions, communication and the distribution of content created by users on a large scale (Cooper, 2016). In general, social networking sites, blogs, content sharing websites, commerce communities and business networking websites are all categories of social media (Mangold and Faulds, 2009). The most common form of social media is social networking sites, which can be classified as internet based services that allow users to create profiles, connect with other users and view content created by themselves and their list of connections (Ellison, 2007). In addition to traditional marketing techniques, companies can use online social media platforms such as Twitter and Facebook to sell products and services, spread brand awareness and most importantly, interact and engage with consumers.

In today’s day and age, many businesses have made use of social media to market their products and brands. Although nearly all of these organizations share a common goal of gaining publicity, the strategies they use to attain that goal varies on different and even on the same social media platforms. In order to gain attention on Facebook, the most popular social media website, companies have to utilize multiple approaches to maximize their yield from such marketing investments. On Facebook, companies have set up third-party applications to enable fans to participate in competitions to win rewards. Snapchat, Google+, and Instagram have also been used by along with Facebook to encourage the participation of customers in spreading the word about certain promotions. Moreover, community service events and the allocation of beneficial intellectual ideas that can both help the world move forward have also been made possible by social media websites such as Instagram and LinkedIn.

Over the past years, social media truly has become something much more than just the typical esoteric jumble of technologies, but instead has driven contemporary culture offering sites and services to accommodate everyone and everything your heart desires. With advancements in technology becoming the forefront of our information and communication ecosystem. These social networking platforms are literally taking over the business arena becoming the driving force in determining whether a business is staying relevant, not to mention taking advantage of emerging opportunities. As of today there have been a surge of social media outlets which have made their way into mainstream society. Today, many of these platforms are commonly known as Facebook, Twitter, Instagram, Pinterest, Snapchat, LinkedIn, LinkedIn Pulse, Google+, Xing, Renren, Disqus, Tumblr, Twoo, MyMFB, YouTube and Vine. When browsing these particular sites people become connected to a much larger community with a press of a button. These online or virtual communities occasionally trump the populations of countries. However, such ease with these casual connections in a very fast paced technological world also has many downsides.

With every passing second, we get more connected. The use of social networks is at an all time high among consumers and businesses alike. Facebook boasts 900 million users; YouTube gets 4 billion views per day, and Twitter reports that 1 billion tweets are sent per week. The numbers are staggering, the growth shows no sign of slowing, and the writing is on the wall; if you want to reach consumers, social media is the place to do it. Or is it?

The behaviour of the workers and the managers to maximized profit can be changed with the use of social media technologies (Turban & Volonino, 2012). Social media technology can help organizations to maintain and improve competitiveness in the industry (Levin, Hansen, & Laverie, 2012). In addition, social media are use by wide area of business includes human resources, supply chain management, marketing and sales and others area that used social media technology (Turban & Volonino, 2012). The organizations also can use the social media technology to their marketing research plans. Nowadays, many organizations have realized the usefulness of the social media technology in running their business and they try to adapt this new technology slowly. According to Andzulis et al. (2012), the Ford Motor had hired 40 employees that are social media practitioners to promote their new car model which is Ford Focus. The employees had been given opportunity to drive test the car and the video have been uploaded in Facebook and other social media website.

The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing the brand.

This paper sets to vividly outline the tremendous innovation that the media has seen over the years. It explains the advantages and the disadvantages that can be derived from these innovations. It brings forward the fact that media innovations have a close relationship with process, product, paradigmatic, position and social innovation. Innovation involves a vast degree of novelty as can be seen from this paper. It also explains important impacts of innovations in the social media; opportunities available in the market and behavior of the users, company strategy, vision and leadership, structure of organizations, resources and capacity, technology, industry norms, regulation and lastly, culture and creativity among others.

The statistics help us appreciate the marketing power of social media. It is estimated that 75% of the global consumers who use the web regularly visit social media websites (Libert, 2011). Visitors are reported as spending anywhere from 3 to 6.5 hours a day on sites such as Facebook. Subscriptions for social media sites are growing by leaps and bounds. Facebook, as an example, announced over 500 million users in 2011. Similarly, LinkedIn reports over 60 million subscribers; Twitter has 110 million users and MySpace claims of 50 million users in the United States alone (Fredericks, 2012). This indicates that social media has truly etched out a dominant position in the modern world of communication. For