Social Media Marketing Strategy

For this  post, the task is to hypothetical help a friend who is about to launch an online store for sporting gears. He is seeking my advice regarding the social media marketing strategies he can undertake to promote his brand. So this post will talk about what is social media marketing and outline some possible social media marketing tactics suitable to his product line.

To make it bit easy suppose my friend name is Nina Wesley. And product line for Nina’s store is fitness gear.

Before going into strategies, let’s briefly define Social media marketing (SMM)?

Social media marketing is a form of internet marketing that involves creating and sharing content through social media platforms like Facebook, Twitter, Instagram, and Pinterest, to achieve marketing goals and to create brand awareness. Social media marketing includes activities like posting text and image updates, videos, and and other content that drives audience engagement.  (“Social Media Marketing for Businesses | WordStream”, 2018)

Strategies that can be undertaken to be successful in this competitive market:

First and foremost  start with a plan, create marketing plans/objective before getting into social media marketing campaign. So you don’t loose the purpose of company.

Here are some questions to ask when defining your social media marketing goals:

• What are you hoping to achieve through social media marketing?
• Who is your target audience?
• Where would your target audience hang out and how would they use social media?
• What message do you want to send to your audience with social media marketing?

In this case, Nina’s business is about fitness gear. she is new in the market which means from this campaign she is hoping to create brand awareness and attract its customers. Targeting mostly at youngster and people who Fitness devotee.  Message could be like health is important to everyone therefore her gears are pretty handy to track health related facts and figures.

Points to consider for successful social media strategies;

1. Set social media marketing goals that align to business objectives (Set S.M.A.R.T. goals)
2. Learn in depth about your audience – get real data and research further.
3. Find out who is your competitor by Conducting a competitive analysis
4.  Engage in social listening so you can keep eye on competition within market.
5. Conduct a social media audit to track what is working and what is not.
6. Create a social media content calendar because content is so important.
7. Find inspiration from other successful company on social media and learn from it.
8. Test, evaluate, and adjust your strategy

Social media strategy is a hugely important document for business, and you can’t assume you’ll get it exactly right on the first try. As you start to implement your plan and track your results, you may find that some strategies don’t work as well as you’d anticipated, while others are working even better than expected.  (“How to Create a Social Media Marketing Strategy in 8 Easy Steps”, 2018)

 

Reference list 

• (2018). Retrieved from https://www.salesforce.com/au/form/semfy19/crm-marketing-demo-social-studio/?d=7010M000002IZju&DCMP=KNC-
• How to Create a Social Media Marketing Strategy in 8 Easy Steps. (2018). Retrieved from https://blog.hootsuite.com/how-to-create-a-social-media-marketing-plan/
• Image: Social Media Marketing | Australian Vocational Learning Centre. (2018). Retrieved from https://goo.gl/images/7WNknC
• Image: The Continued Rise of Social Media Marketing: What Will It Offer … (2018). Retrieved from https://goo.gl/images/gH18MR
• Social Media Marketing for Businesses | WordStream. (2018). Retrieved from https://www.wordstream.com/social-media-marketing
• The Continued Rise of Social Media Marketing: What Will It Offer in 2018?. (2018). Retrieved from https://lerablog.org/internet/social-media-online/the-continued-rise-of-social-media-marketing-what-will-it-offer-in-2018/

 

 

 

 

 

 

 

BIG DATA

Welcome back beautiful people, 

Yayyyyy! Finally reached to the last blog post for this unit (Internet Marketing). The task for this week is to define the concept of Big data. Easy concept guys data which is big and complex called big data. isn’t it? Woohoo done for the week 😎🙌

On serious note lets research more and look at this concept in depth.  

What is big data?

‘Big Data’  is an evolving term that describes any voluminous amount of structured, semi structured, and unstructured data that has the potential to be mined for information.

• Structured data is data that has been organised into a formatted repository, typically a database, so that its elements can be made addressable for more effective processing and analysis.
• Semi-structured data is data that has not been organised into a specialised repository, such as a database, but that nevertheless has associated information, such as metadata, that makes it more amenable to processing than raw data.
• Unstructured data is information, in many different forms, that doesn’t hew to conventional data models and thus typically isn’t a good fit for a mainstream relational database.

(“What is Big Data ? – Definition from WhatIs.com”, 2018)

Big data is often categorised by Three Vs: the extreme volume of data, the wide variety of data types and the velocity at which the data must be processed.

Volume

The amount of data matters. With big data, you’ll have to process high volumes of low-density, unstructured data. This can be data of unknown value, such as Twitter data feeds, clickstreams on a webpage or a mobile app, or sensor-enabled equipment. For some organisations, this might be tens of terabytes of data. For others, it may be hundreds of petabytes. (“What is Big Data? | Oracle Australia”, 2018)

Velocity

Velocity is the fast rate at which data is received and (perhaps) acted on. Normally, the highest velocity of data streams directly into memory versus being written to disk. Some internet-enabled smart products operate in real time or near real time and will require real-time evaluation and action. (“What is Big Data? | Oracle Australia”, 2018)

Variety

Variety refers to the many types of data that are available. Traditional data types were structured and fit neatly in a relational database. With the rise of big data, data comes in new unstructured data types. Unstructured and semi structured data types, such as text, audio, and video require additional pre-processing to derive meaning and support metadata. (“What is Big Data? | Oracle Australia”, 2018)

How Big data works? 

(“What is Big Data? | Oracle Australia”, 2018)

What is the importance of ‘big Data’? 

According to SAS, the importance of big data doesn’t revolve around how much data you have, but what you do with it. You can take data from any source and analyze it to find answers that enable 1) cost reductions, 2) time reductions, 3) new product development and optimisied offerings, and 4) smart decision making. When you combine big data with high-powered analytics, you can accomplish business-related tasks such as:

• Determining root causes of failures, issues and defects in near-real time.
• Generating coupons at the point of sale based on the customer’s buying habits.
• Recalculating entire risk portfolios in minutes.
• Detecting fraudulent behaviour before it affects your organisation.

(Insights, Insights & Data?, 2018)

Reference List:

Big Data Analytics,Big Data Analytics solutions,sentiment analysis. (2018). Retrieved from http://expressanalytics.com/big-data-analytics.html

Insights, S., Insights, B., & Data?, W. (2018). What is Big Data and why it matters. Retrieved from https://www.sas.com/en_au/insights/big-data/what-is-big-data.html

What is Big Data ? – Definition from WhatIs.com. (2018). Retrieved from https://searchdatamanagement.techtarget.com/definition/big-data

What is Big Data? | Oracle Australia. (2018). Retrieved from https://www.oracle.com/au/big-data/guide/what-is-big-data.html

E-CRM activities of any TV show

In this blog, I will discuss about Electronic customer relationship (E-CRM) and how a TV show like ‘The Kapil Sharma Show’ uses E-CRM to acquire and retain customers by improving customer knowledge, targeting service delivery and satisfaction. 

What is E-CRM?

E-CRM stands for Electronic Customer Relationship Management. E-CRM, is an integrated online sales, marketing and service strategy that is used to identify, attract and retain an organisation’s customers. It describes improved and increased communication between an organisation and its clients by creating and enhancing customer interaction through innovative technology. E-CRM software provides profiles and histories of each interaction the organisation has with its customers, making it an important tool for all small and medium businesses. (“E-CRM: Meaning, Evolution and Benefits”, 2018)

 

The Kapil Sharma Show is an Indian stand-up comedy and talk show which premiered on 23rd April 2016 and was broadcast by Sony TV. The show broadcasted during weekends on the Sonyliv network and has its own page on their website. The series revolves around Kapil Sharma and his team of comedians, who play residents of the Shantivan Non-Cooperative Housing Society. Each episode features Bollywood celebrities, who usually promote their latest film, and joke with the crew besides live audience gets a chance to engage with celebrity at the end.

 E-CRM activities of The Kapil Sharma Show

The Kapil Sharma Show aired on weekends on the sonyliv network and has its own page on their website. from the website audience can catch up any missing episodes on their website a week later and  watch full episodes, and short videos, promotion clip, best Moments, crew special performance and highlights. 

 

 

In addition, The Kapil Sharma Show  also manages their  interactions with viewers via different social media platforms such are;  Facebook, YouTube and Instagram. To share promo, build relationship with fans and provide additional information regarding show.

Episodes are easily available on YouTube one week after it release on TV to acquire viewers living abroad and can’t access to Indian regional channels. 

Moreover, The Kapil Sharma Show available on  mobile app for both IOS and android through IMDb (Internet Movie Database), to promote and create engagement with its audience. As well as all the episodes are available on IMDb website. Below are the example: 

This slideshow requires JavaScript.

The E-CRM strategies that The Kapil Sharma Show uses allows them to form a strong relationship with their viewers, where the viewers feel connected to the show. The show was hit and gain popularity due to crew acting plus many Indians and Western celebrities, singers and cricketers  were part of the show such as Jackie Chan, Virat kholi, Shahrukh khan and many more. 

Reference list:

E-CRM: Meaning, Evolution and Benefits. (2018). Retrieved from http://www.businessmanagementideas.com/crm/e-crm/e-crm-meaning-evolution-and-benefits/3688

Image: The New Characters On The Kapil Sharma Show Look So Much Fun, You … (2018). Retrieved from https://goo.gl/images/w5z2PW

IMDb – Movies, TV and Celebrities. (2018). Retrieved from https://www.imdb.com/?ref_=nv_home

the kapil sharma show: Latest News, Videos and the kapil sharma show Photos | Times of India. (2018). Retrieved from https://timesofindia.indiatimes.com/topic/the-kapil-sharma-show

Watch Indian TV Serials, Online Movies, Live Sports Updates, Original Shows, Music | SonyLIV. (2018). Retrieved from https://www.sonyliv.com/details/show/4849325207001/The-Kapil-Sharma-Show

 

Implication of the Internet on the 4Ps

Hello beautiful people, hope you all surviving busy week of  uni 😉

Lets get started with this week blog, The task for blog 4a is to briefly summarise the implications of the internet on each element of the marketing mix ( Consider 4 Ps)

What is marketing mix?

The marketing mix is a term for the elements considered when creating and implement marketing strategies. The 4Ps of marketing was initially proposed by Jerome McCarthy. (Chaffey & Ellis-Chadwick, 2016). As extended there are 7Ps in the marketing mix. Though, I will just focus on four important p’s.

(“Image: 30 Humorous and Funny Jokes”, 2018)

Jokes apart,

The four P’s of marketing mix includes,

– Price, promotion, place, and product. 

 

Price

This refers to the value that is put for a product. The price of a product affects how it performs on the market. A product with a higher or a lower price tag than its perceived value will not sell. As such, understanding how a customer perceives what you are selling is extremely important. It is possible for a product to be priced higher than its true monetary value and still sell if it enjoys a positive customer value. On the other hand, a product may need to be low-priced for it to sell if the customer considers it of little value. (“Concept of the Marketing Mix 4Ps – Marketing Mix”, 2018). As an example, E-bay has lower price products available than other physical stores.

Some of the implications of the internet for price element are: 

• Downward pressure for lower price
• Increased price transparency 
• Alternative pricing policies
• New pricing approaches 

 

(Chaffey & Ellis-Chadwick 2016, p. 268). 

Promotion 

Promotion refer to advertising companies offering to its target customers, using different platform such as social media, in the press, on TV, on radio, or on billboards. Regardless of the channel used, these may entail advertising, sales promotions, special offers, as well as public relations. The promotion plan comprises of the marketing communication strategies and techniques. (“Concept of the Marketing Mix 4Ps – Marketing Mix”, 2018)

internet plays the vital role in advertising, as majority of people uses social media and advertising on social media is easy and efficacious. in addition, online promotion is cheaper than traditional advertising.  Social media and email are also great ways to increase awareness of a brand’s products. 69% of Australians are using social media. Of that sample, 57% of those users access social media channels every day. (Services, Resources, Successes & Culture, 2018) 

Place

Place refers to the point of sale. How the product will be provided to the customer is what determines the place or its placement, whether its virtual or physical. (“Concept of the Marketing Mix 4Ps – Marketing Mix”, 2018). Some implications of the internet on place are: place of purchase, channel structures and virtual organisations. (Chaffey, 2016). Now- a-days almost all the stores has online shop because it helps to reach customers as per their convenient and online stores are better in terms of reaching to customers globally. 

Product 

When it comes to the product, it is either a tangible good or an intangible service that meets a customer’s need or demand. (“Concept of the Marketing Mix 4Ps – Marketing Mix”, 2018). In the digital marketplace, the focus on the Product has remained, but has been supplemented by the user experience. While the digital marketplace may sell the same products as a physical store, the customer experience is vastly different because it lacks several components of the buying experience, such as touching the product, talking to an assistant, and so on. This has been replaced by the focus on the digital user experience, like customer base preferences, product comparison, and the onus today is on the user experience. (Talentedge India, 2015)

Some of the implications of the internet for product element are: 

• Speed of new product development
• Speed of new product diffusion
• Differentiate alternative core product
• convenience of research on the product
• Time efficient

(Chaffey & Ellis-Chadwick 2016, p. 268). 

To sum up, as we all are aware that internet plays the vital role in today’s world. However, 4Ps framework is important to consider in both online and physical stores. Many traditional marketing concepts are still alive in this digital era. Businesses needs to follow marketing framework as well as keep innovating new methods and technology to be successful.

Reference list: 

• (2018). Retrieved from https://www.linkedin.com/pulse/4ps-digital-world-how-internet-has-changed-marketing-talentedge
• Chaffey, D. Ellis-Chadwick, F., ‘Digital Marketing 6th edition’, Pearson 2016, pp. 250-278.
• Concept of the Marketing Mix 4Ps – Marketing Mix. (2018). Retrieved from http://marketingmix.co.uk/concept-of-the-marketing-mix-4ps/
• Image: 4 P: Marketing Mix Elegant Icon Kit. Hand Drawn Design Of Images … (2018). Retrieved from https://goo.gl/images/75kVDa
• Image: 30 Humorous and Funny Jokes. (2018). Retrieved from https://goo.gl/images/LvY8Mi
• Services, P., Resources, C., Successes, C., & Culture, C. (2018). The 4 Ps of Marketing in the Internet Age | Emarsys B2C Marketing Cloud. Retrieved from https://www.emarsys.com/en-au/resources/blog/the-4-ps-of-marketing-in-the-internet-age-artem-kapotin/

Is long term strategic objective unrealistic?

3b. 'Setting long-term strategic objectives for a website is unrealistic since the rate of change in the marketplace is so rapid'. Discuss

Long-term strategic objective defines as performance goals of any businesses that aim to achieve over a long period of times. Long-term objectives usually incorporate specific improvements in the organization’s competitive position, technology leadership, profitability, return on investment, employee relations and productivity, and corporate image. (“Long Term Objectives”, 2018)

Setting long-term strategic objective for any company or any websites is not unrealistic. However, it can be argued both ways depending on the situation and plans. In general, it is true that setting long-term strategic objective is unrealistic due to constant change in the market. Nevertheless, setting long-term strategic objective is a management tool which work as a guide for business to achieve certain goals and success. It is framework for business to succeed and there are no rules that you can’t change the framework along the line. Long term objective helps business to determine where are they sitting now and where they want to be in future to gain achievement. A good long term planning includes various steps and outlines that should be consider. Such as goals should be “S.M.A.R.T.” (specific, measurable, actionable, reasonable, and timely).

The key to a successful long-term strategic planning process is to identify the core competencies required, and then begin immediately to develop or to acquire those core competencies so that company will be strongly positioned for the markets and competition in the future. Job is to constantly be thinking about the future. Through your strategic planning process, you must take the necessary steps in the short-term to guarantee that you will achieve the profitability that you desire in the long-term.  This ability to think long-term has never been more important or more valuable than it is today.  It is a real key to profitability. (“Strategic Planning Process: How to Set Long-Term Goals”, 2018)

Additional essentials for creating a thorough and effective strategic plan.

• Define your company vision
• Define your personal vision
• Know your business
• Establish short-term goals
• Outline strategies
• Create an action plan
• Foster strategic communication
• Review and modify regularly
• Hold yourself accountable
• Be adaptable
• Create a strategic planning team

It extremely important for any businesses to keep eye on the future and plan for any obstacles that company/website could face. Adopting change as it comes and walking with current trends along with long-term plan will not be unrealistic since having a plan is always better then not having any plan.

 

Reference list:

• 9 Steps to Creating a Strategy for Long-Term Growth | Small Business BC. (2018). Retrieved from https://smallbusinessbc.ca/article/9-steps-to-creating-a-strategy-for-long-term-growth/
• 11 Tips for Creating a Long-Term Strategic Plan – Bplans Blog. (2018). Retrieved from https://articles.bplans.com/11-tips-for-creating-a-long-term-strategic-plan/
• Enterprise, L., & Jeffery-Morrison, M. (2018). Long Term Planning vs. Strategic Planning | Articles | Chief Strategy Officer. Retrieved from https://channels.theinnovationenterprise.com/articles/long-term-planning-vs-strategic-planning
• Long Term Objectives. (2018). Retrieved from https://www.monash.edu/business/marketing/marketing-dictionary/l/long-term-objectives
• Strategic Planning Process: How To Set Long-Term Goals. (2018). Retrieved from https://www.briantracy.com/blog/business-success/the-strategic-planning-process-how-to-set-long-term-goals-thinking-about-the-future-how-to-set-goals/