Exam preperation practice question: E-media marketing

How can you market your own TV game show through advertising across a range of platforms, including E-media

Social media marketing is the use of social media platforms and websites to promote a product or service. Most of these social media platforms have their own built-in data analytics tools, which enable companies to track the progress, success, and engagement of ad campaigns. Companies address a range stakeholder through social media marketing including current and potential customers, current and potential employees, journalists, bloggers, and the general public. On a strategic level, social media marketing includes the management of the implementation of a marketing campaign, governance, setting the scope (e.g. more active or passive use) and the establishment of a firm's desired social media "culture" and "tone". To use social media effectively, firms should learn to allow customers and Internet users to post user-generated content (e.g., online comments, product reviews, etc.), also known as "earned media", rather than use marketer-prepared advertising copy. While social media marketing is often associated with companies, as of 2016, a range of not-for-profit organizations and government organizations are engaging in social media marketing of their programs or services.

Examples:

Nike #MakeItCount

In early 2012, Nike introduced its Make It Count social media campaign. The campaign kickoff began YouTubers Casey Neistat and Max Joseph launching a YouTube video, where they traveled 34,000 miles to visit 16 cities in 13 countries. They promoted the #makeitcount hashtag, which millions of consumers shared via Twitter and Instagram by uploading photos and sending tweets. The #MakeItCount YouTube video went viral and Nike saw an 18% increase in profit in 2012, the year this product was released.

Small businesses

Small businesses also use social networking sites as a promotional technique. Businesses can follow individuals social networking site uses in the local area and advertise specials and deals. These can be exclusive and in the form of "get a free drink with a copy of this tweet". This type of message encourages other locals to follow the business on the sites in order to obtain the promotional deal. In the process, the business is getting seen and promoting itself (brand visibility).

Small businesses also use social networking sites to develop their own market research on new products and services. By encouraging their customers to give feedback on new product ideas, businesses can gain valuable insights on whether a product may be accepted by their target market enough to merit full production, or not. In addition, customers will feel the company has engaged them in the process of co-creation—the process in which the business uses customer feedback to create or modify a product or service the filling a need of the target market. Such feedback an present in various forms, such as surveys, contests, polls, etc.

Social networking sites such as LinkedIn, also provide an opportunity for small businesses to find candidates to fill staff positions.

Of course, review sites, such as Yelp, also help small businesses to build their reputation beyond just brand visibility. Positive customer peer reviews help to influence new prospects to purchase goods and services more than company advertising.

As the social media world continues to grow, so does the need to reach customers on social networks. 70% of the U.S. Population has some form of social media profile, and by 2018 that number is projected to be 2.8 Billion. Small businesses can benefit from social media marketing, due to its little to no start up costs which can decrease marketing costs, giving a personality to their brand, increased brand recognition, and higher conversion rates. Engaging customers in the 21st century is now only a click away.

 

Oliver Whyte