Social media marketing and entrepreneurship
Transcript of Social media marketing and entrepreneurship
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ENTREPRENEURSHIP
Entrepreneurship is the process of starting a
business or other organization. The entrepreneur
develops a business model, acquires the human
and other required resources, and is fully
responsible for its success or failure.
Entrepreneurship operates within an
entrepreneurship ecosystem.
A person who does entrepreneurship is known as
entrepreneur
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SOCIAL MEDIA
According to Wikipedia, social media is internet-
based tools for sharing and discussing information
among human beings.
The meaning of the term ‘social media’ can be
derived from two words which constitute it. Media
generally refers to advertising and the
communication of ideas or information through
publications/channels. Social implies the interaction
of individuals within a group or community.
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SOCIAL MEDIA SITES
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SOCIAL MEDIA MARKETING
Social media marketing consists of the attempt to
use social media to persuade consumers that one's
company, products and/or services are worthwhile.
Lazer and Kelly’s (1973) define social marketing as
"concerned with the application of marketing
knowledge, concepts, and techniques to enhance
social as well as economic ends.
Social media marketing is marketing using online
communities, social networks, blog marketing and
more.
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SOCIAL V/S TRADITIONAL
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SOCIAL MEDIA MARKETING IN INDIA
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PROCESS OF SMM
CONCEPT
DEFINITION
DESIGNDEPLOY
MENT
OPTIMIZATION
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BENEFITS OF SMM TO BUSINESS
Increased brand recognition
Improved brand loyalty
More opportunities to convert
Higher conversion rate
Higher brand authority
Increased inbound traffic
Decreased marketing cost
Better search engine rankings
Richer customer experience
Improved customer insights
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LEVERAGING OF ENTREPRENEURSHIP THROUGH SOCIAL
MEDIA
Instagram pop-up sales
Facebook ‘members only’ coupons
Kickstarter campaigns
Blog tours
Twitter contests
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PROS & CONS OF SMM FOR BUSINESS
SMM is low cost
SMM caters to a big
audience
SMM is fast
SMM generates
interaction
SMM nurtures brand
loyalty
SMM is good for
customer service
SMM is time
consuming
SMM generates
negative users
SMM makes u lose
control
SMM ROI is hard to
define
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REASON FOR FAILURE OF SMM
Publishing low quality content
Non response
Little or no social media or blogging activity
No strategy
Not seriously involved
Not versatile
No social links or social share buttons on website or
blogs
24*7/365 =myself
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SMM STRATEGIES TO BUSINESS
Identify business goals
Set marketing objectives
Identify ideal customers
Research competition
Choose channels & tactics
Create a content strategy
Allocate budget & resources
Assign roles
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SWOT ANALYSIS OF SMM TO BUSINESS
1.Creating article /blog post content
2.Administering branded networks
3.Creating video/audio content
4.Using social sharing button
5.Creating research or whitepaper content
1.Creating video/audio content
2.Creating article/blog post content
3.Creating research or whitepaper content.
4.Using social sharing buttons
5.Administering branded social networks.
1.Increase content reach
2.Improve customer engagement
3.Increase sales revenue
4.Increase website traffic
5.Increase lead quality
1.Staff limitation
2.Budget limitation
3.Inability to measure ROI
4.Lack of organizational commitment
5.Lack of social marketing integration
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