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How Big Business UtilizesSocial Media
Michael A. GasparNorthern Illinois UniversityUBUS 310Dr. Tim Aurand
What is social media?
• Marketing tools that are intended to create and foster relationships between businesses and consumers in hopes of meeting the needs and expectations of both parties involved
• Ideally adds value to the consumer experience
• Combination of marketing strategy and social networks
• Microblogs, resources, articles, video, blogs, applications
Social Networks
• Platforms on which social media marketing can be implemented
• twitter, foursquare, facebook, You Tube, LinkedIn
• twitter is a microblog social network that allows users to share thoughts, links, resources, and create relationships in 140 characters
• Roughly 15 million active users, business to social
• Implications for both B2C and B2B
• facebook is the veteran social network, incorporating applications, fan pages, and profiles to stay in touch with community
• Roughly 500 million active users, business to social
• Implications for both B2C and B2B
Foursquare
• Foursquare is a geolocation-based social network that uses your laptop’s and mobile device’s GPS to allow you to check-in to various points of interest, share them with your network, and leave suggestions and reviews about businesses in the area
• One check-in per second, business to social
• Mostly B2C; B2B
You Tube
• Video sharing community ranging from professionals to private users
• 2 billion + views per day
• B2C; some B2B implications
Old Spice Video
• LinkedIn is a professional networking community that allows you to connect with and sustain contacts that help drive new business
• Roughly 60 million users
• Mostly B2B
Other Media
• Blogs
• White Papers
• Publications
• Mobile Applications
• SMS/Text
• Powerpoint and Document sharing
Social Media for b2c
• Designed to holistically bind all marketing tools
• Create value for consumers
• Brand monitoring
• Marketing metrics and research
• Customer support
via MIT Hoffman Business Review Fall 2010
The Theory Behind SM
Brand Awareness
Brand Engagement
Word of Mouth
CONVERSION
Questions