Final Project

You might also like

Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 14

[DOCUMENT TITLE]

[Document subtitle]

[DATE]
[COMPANY NAME]
[Company address]
Table of Contents

Executive Summary...................................................................................................................................1
Introduction...............................................................................................................................................1
Establishing the Identity...........................................................................................................................2
Understanding the ideal customer............................................................................................................2
Rebuilding the brand................................................................................................................................4
Identifying Key Success Matrixes............................................................................................................5
Creation and Curation of Engagement Contents....................................................................................6
Social Media Management Tools..............................................................................................................8
Track Analyze and Optimize....................................................................................................................8
Findings......................................................................................................................................................9
Conclusion................................................................................................................................................10
References................................................................................................................................................11
Appendix..................................................................................................................................................11
Executive Summary
Nowadays, social media is the most popular platform for marketers to promote their brands to
reach their target customers with the shortest period of time and costs. This report shows the
impact of social media uses in terms of attracting customers. Firstly, writers tend to focus on the
establishment of brand identity on social platforms. Secondly, they also emphasize on the
understanding the ideal customers based on their activities on theses platforms. If necessary,
these platforms can be used to rebuild the brand. Thirdly, matrixes like engagement, reach, leads
etc. are being used to evaluate the performance. Fourthly, what is the role of content creation and
curation to increase customer’s engagement are being discussed here. Fifthly, usage of different
types of social media management tools to track, analyze and optimize is being explained here.
Lastly, based on the present condition, this report tried to compare the three types of situation
like previous, present and future.

Introduction
The 21st century is an age of advances in technology. Now internet access is easier compare to
previous years. As a result, people are spending more times on different types of social platform.
According to BTRC’s statement on January 2019 reveals that the numbers of subscriber are
91.421 million. [ CITATION Curata \l 1033 ]. Hence, brands are shifting their promotional activities
from offline to online via social platforms. The numbers of user in Bangladesh are more in
Facebook (96.1%), Twitter (1.7%) and YouTube (1.43%) compare to other social medias.
[ CITATION Sta19 \l 1033 ] Apart from these three people are also using Pinterest, Instagram,
LinkedIn, Messenger, WhatsApp, Viber, Snapchat, IMO etc. Through social media marketers are
creating new brands to attract new customer, maintaining a fruitful relationship which ensures
the customer retention rate that confirms the sustainability in the market. Recently, brands are
more careful regarding their publishing contents towards their customers as people are now more
interactive due to this accessibility. Marketers are more concerned about results due to the
technological advancement. They can track the data, analyze them and take conscious decisions
for brands which were impossible in previous era.

1|Page
Establishing the Identity
As a new platform marketer always need to establish their brand identity first on different types
of social medias. First of all, it’s important to decide the right page for potential customers align
with their products or services. For an example, Facebook has a large number of audiences for
which brands are promoting their goods mostly on this site. Brands are building their name,
typography, logo, colors, tagline and packaging to their audience. Brand identity brings new
customer and at the same time maintain the existing customer as well.

To establish the brand identity, it’s important to determine the brand purpose and positioning.
Brand positioning makes the brand purpose actionable in the mind of target customers and
differentiating from the competitors. Another important factor is brand personality that should
reflect the brand’s nature. Based on brand nature it should have a specific voice and tone in its
marketing materials or other type of communications. A brand must come first, followed by a
logo matching, complimenting and improving the sign. It is a brand identity that most people are
visible to. It is important to go for a simple look to improve the chances of having a memorable
logo that promotes a strong emotional attachment. The color palette is related to the nature of the
logo. Experts say it would be easier to create the logo while using one to three key colors.
Learning some of the feelings of certain colors will help to choose the right ones. Fonts are
considered to be the most powerful sectors. The brand design must be directed by a single
primary typeface, and the logo and color palette must fit well. It should be simple as well like the
logo and the color palette.

Understanding the ideal customer


For a successful marketer, it is very important to identify the ideal customer and understand
them. Considering the following things can help us to understand the target customer and in an
easiest and efficient way to connect with them.

 Know target audience:

In order to know target audience, we have to create the profile of our buyers to identify our ideal
customer and understand them. There are many variables which can help us to create such

2|Page
customer’s profiles. Some of the key variable can be: profile of ideal customer, their
demographic characteristics (gender, location, ethnicity, etc.), buying habit and buying patter,
motivational factors for buying etc.

 The hour during which customer is more active:

We have to identify the active hour in which customers are online and active mostly so that we
can reach maximum ideal customers and connect with them efficiently. It will also help us to
draw the more attention of our customers since numerous posts, pin arrears on the news feed of
our customers’ every day.

 The content they like most:

By examining and identify all of the characteristics of the social media sites, the content target
customers are sharing on their social media profiles we have to create content that will have
strong effect on our customer i.e. to draw attention of the customer who search products mostly
on Instagram and Pinterest, we can add our product or services’ colorful photography, art and
design. To become successful in our efforts, we have to create content that matches successfully
with the content that our ideal customers are sharing in their social sites.

 Influencers whom our customers follow:

Now-a-days apart from media, customers are usually influenced by particular influencers (social
leaders, media or sports celebrities, motivational speakers, social workers etc.) for inspiration, to
make buying decision, information etc. To find these influencers that our audience follow, we
can use hashtags and search on particular topic in social media pages, group chat etc. To
understand our ideal customer better and to address their need successfully, we need to connect
with these influencers and interact with them.

 What motivates our customers to connect with us?

In most of the cases customer’s buying decision and consumption are usually driven by lifestyle,
a passion to connect with their desired community etc. We have to go through those blogs,

3|Page
conversation in groups, pages related to our product or service so that we can understand our
buyer’s passions and design our content according to them.

If we can understand the interests of our target buyers and address their needs accordingly, then
customers will start interacting with us and pay more attention to our posts which help us to
grow our business.

Rebuilding the brand


 Clear communication channels

Establishing a clear communication channels in which customers can share their feedback is an
effective way to interact with customer and to gain their trust. In this age of communication and
marketing customers also want to be involved, interact, and co-create with us. We can engage
our audience by giving them opportunity to give opinions and share experiences with us.

 Authenticity and informational transparency

Authenticity is very important in online business since now customers are aware whether the
things, they are buying really worth paying for it. Therefore, it is very important just not only to
sell our product, instead explain its value to our customer. We can share and highlight our
services with product important and distinct features and how it can serve their purpose. When
we share any the new features of our product, we also need to be authentic and communicate
well with our customers to remain trustworthy.

 Anticipate customer’s changing needs or interest

Considering the fact that everyday a new product, new concept is taking place which influent
buyer’s interest and their need, we have to keep regular track of our audiences’ changing
interests and need. We can do some research and data analysis to understand what resonates
with our customers changing need, any the new contents which will be appealing and useful
to our customer and then narrow down our idea and design our content accordingly.
[ CITATION The19 \l 1033 ].

 Visual branding

4|Page
Visuals i.e. videos, live-stream demonstrations, colorful images etc. always help to draw
attention and ensure more engagement of our customers in our content. In this case we need to
ensure that we have a consistent visual across our content that come up with a distinct feel and
look. It means we have to ensure the same colors and fonts reflected in all of our images,
graphics and videos.

 Efficient customer service

Customer service is very important for any business to build trust and expand business.
Sometimes customer can be dissatisfied with our product, they may have any suggestion for
further improvement. Therefore, it is our responsibility to consider their suggestion and take
corrective action accordingly. We have to ensure constant communication on daily basis on
social media as well as through our website and quick responses to customer’s queries which
will help us to gain more customer satisfaction and build customer loyalty for our business.

Identifying Key Success Matrixes


Nowadays the use of social media is a very powerful tool for building a good relationship with
customers. As a result, marketers are gaining a significant number of sales, reach and overall
return on investment for company. There are 5 key matrix and those are:

1. Engagement
2. Reach
3. Leads
4. Conversions
5. Response rate and time

1. Engagement: Usually engagement measures the number of likes, shares, and comments that
company’s social updates receive. Obtaining a wide reach with low engagement rate is a
negative sign because it indicates that brands don’t have that type of marketing messages or
contents which can connect them with brand. So long so the audience is engaged, it will grow
organically and create more leads, no matter how small the audience is. The key performance
indicator for engagement are clicks, likes, shares, comments, brand mentions, profile visits,
active followers.

5|Page
2. Reach: Reach is a traditional marketing tool which still has an important today. This reveals
how far the message actually goes and how many eyes this has in front of it. Often calculating
the reach on social media can be deceptive, as it only indicates how many people the
organization might have seen and made available. Like interaction, which has definite responses
like x quantity of likes, reach is really only an approximate. The key performance indicators for
reach are impressions, traffic data, and followers.

3. Leads: Once social media accounts start to gain momentum, the number of likes and shares
becomes easy to track. Watching people enjoying content feels good, but what about the final
output? It’s important to ask the tough question, how many of the engaged follower are actually
interested to buy the product or service to ensure best ROI from social media. Ensuring the best
ROI from social media, marketers have to answer the tough question like the number of these
engaged followers are interested to buy products and services from business. If the company
does not produce leads, either they are on the wrong platform or their publishing material does
not go with the character of their customer.

4. Conversions: Conversions is when something is bought from company’s page by someone. A


social conversion involves visiting them through a social media network and then buying
something on that same trip.

5. Response rate and time: Response rate and time comes when company track how quickly the
team is responding to critical messages and how many are actually responding to them.
Marketers should also track how much each person is doing for multi-user accounts. Usually for
Facebook business accounts the standard response rate is 90% and above within 24 hours. When
the rate is declining considered as a negative rate.

Creation and Curation of Engagement Contents


Content is the most important tool in social media marketing. It’s an effective way how
marketers are engaging their customers with their products and services and make a long-term
relationship. So, marketers are very careful while selecting contents for their brands. There are
two main categories of contents we usually see on social media; 1. Create content, 2. Curate
content. Now marketers need to decide the percentage of original and curated publish contents
for their brands on social platforms. There is no single response to how much content marketer’s

6|Page
ought to curate. But Curata [CITATION Placeholder1 \t \l 1033 ] has conducted some research based
on that marketers found some percentages;

 Original created contents 65%


 Curated contents 25%
 Syndicated contents 10%

Reasons Behind Create Contents:

1. It Generates Leads: When marketers are making content for an e-book, whitepaper or
webcast as a lure for their landing page, it has to be original. A recent report found that
almost 75% - 80% of marketers are considering lead generation as their number one
priority.[ CITATION Mar13 \l 1033 ] They can easily incorporate branded images, logos,
links and particularly Call to Action buttons by creating new content.
2. The Content Belongs to Marketer: While working in a tightly regulated industry,
marketers need to be very careful since there is a thin line between curation and copying
from other sources. So, sharing any links from other sites need to be cited properly.
3. It Drives Traffic: Google prefers unique content, especially if it is useful and friendly
for SEO (Search Engine Optimization). In the real world, fresh new contents take
company’s site ranking in higher position.
4. It’s on Brand: While writing any contents for brand, it should reflect the brand image
and the voice of that brand to customers.
5. Become A Thought Leader: When marketers are creating their own unique contents,
images, info graphics and posts, they become a thought leader in their society. People
are following them as an iconic thought leader.

Reasons Behind Curate Contents:

1. It Builds Relationships: Content curation can build a strong relationship with industry
leaders. Because they feel like Possibilities are relevant to their own crowd.
2. It Saves Time: When marketers are managing multiple contents for multiple channels
then it’s easier to curate contents align with their brands.
3. Presents A Wide Knowledge: Marketers knows that, their brand can’t be expert on all
matters but by curating content they it can feel like it.

7|Page
Social Media Management Tools
 Buffer: Buffer is mostly trusted by brands, business, agencies and individuals also.
People love this tool because it’s clear, intuitive and customer friendly. Its great attribute
is people can share content across different accounts and networks from one central
dashboard.
 Hootsuite: Hootsuite is one of the most popular social media tools. It is used over 15
million people. It allows measuring social ROI (return of investment). Run social media
advertisement, automatically boost the most popular post to the customer, schedule
content etc. It also helps to keep up with social with access to free courses in articles that
cover the latest trend, strategies and tactics.
 Sprout Social: It creates stronger relationship with audience. Small business owner can
their value of social presence. It is an easy way to manage everything. It’s secured
enough. It has a flexible framework that helps media agencies to stay organized. Sprout
Social provides CRM (customer relationship management) features, complete profile of
customers.
 Agora Pulse: Agora pulse provides same unique features at very reasonable price. Unlike
others it has features like competitor analysis, Facebook content app etc. Agora pulse can
manage all of your notifications. It can do all of your publishing, it can do all of your
social listening, it can help you to manage your report, helps to manage audience and
prospects.
 Sendible: Sendible has some features like Canva, graphics editor, royalty free image
search and YouTube search. So that Sendible is meant for agencies with huge customer
line.

Track Analyze and Optimize


Track is a potential ingredient in case of monitoring business. With the help of tracking, we can
simply realize the previous performance, achievements and failures of any business, company or
product. It also helps us to detect the important customer.

Business analysis or analyze is a group of tasks and techniques which help to solve various
business problems. Business analyze creates a strong relation between stakeholders so that they
can realize the various business problems and take initiatives for removing problems. These
8|Page
techniques help stakeholders to understand structure of organization, business policies and
activities.

Optimization is one of the vital quantitative tools in case of business production. The main target
of optimization is creating most efficiency by using less cost. It indicates business efficiency,
production and performance sector then searching the ways to improve all sectors.

Findings
Previous Situations:
In 2000 web-based life got an extraordinary lift with the seeing of numerous long-range
interpersonal communication locales jumping up. This profoundly supported and changed the
association of people and associations who share normal enthusiasm for music, training, films,
and fellowship, in view of person to person communication. Among those that were propelled
included Lunar Storm, six degrees, cyworld, ryze, and Wikipedia. In 2001, sky blog and
Friendster were propelled, and in 2003, MySpace, LinkedIn, last FM, tribe.net, Hi5 and so forth.
In 2004, famous names like Facebook, Harvard, Dogster developed. During 2005, major names
like Yahoo360, YouTube and Black planet all developed (Junco, Heibergert, and Loken, 2011).
(htt) (Edosomwan)

Current Situations:

The significance of internet based life in business is developing at fast speed. With an ever
increasing number of individuals joining online life and utilizing them effectively, the internet
based life industry will undoubtedly increase in the coming years. It's becoming bigger more
than ever.

 Leverage Social Advertising: Online life promoting might be the tenderfoot, yet it's
developing quicker than envisioned. Take Facebook Ads for an instance in the current
world.
 Boost Brand Awareness: Online networking demonstrates to be an amazing asset with
regards to developing your image mindfulness.
 Increase Inbound Traffic: Inbound showcasing is one of the best approaches to produce
focused on traffic to your site.

9|Page
 Improve Search Engine Optimization: Every season, social media merchant is aware of
that there is some connection between social media and program improvement. (Smith,
2019)
 Increase Conversion Rates: Another importance of social media in business is that the
undeniable fact that it's nice for capturing targeted leads for your business, however it
doesn’t stop there. Obtaining quality leads is merely one a part of the equation. The
opposite half is changing those into sales
 Satisfy Your Customers: Losing a client is tough, and gaining a brand new one is
tougher. However, holding associate existing client is ten times easier. That is why client
satisfaction ought to be your top priority.

Future Situation:

Measuring the success of social client care needs a novel suite of KPIs. Firms can move on the


far side ancient metrics like time interval, and embrace harder-to-measure metrics like tone and
quality of speech. “We have a team specifically designed to analyze social interactions and
provides our agents feedback on their tone and quality of speech.[ CITATION 18ht \l 1033 ]

Conclusion
The best thanks to evaluate the importance of applying social media in selling is to understand
the importance of social media in way of life of individuals United Nations agency are seemingly
to become your customers. Social media selling has become a necessity, one that's obligatory to
the business by the general presence and impact social networks wear the users.
In spite of the actual fact that social media presence has become a necessity, there are various
ways that to leverage social media presence into rising your business and here are a number of
the main advantages.

10 | P a g e
References
(2011). Retrieved from marketingsherpa: https://www.marketingsherpa.com/article/chart/marketing-
research-chart

(2013, November 12). Retrieved from Marketingsherpa:


https://www.marketingsherpa.com/article/chart/marketing-research-chart

(2016). Retrieved from Curata: http://www.curata.com/resources/ebooks/2016-CMStaffing-Tactics-


Study

(2019, October). Retrieved from Statcounter Globalstats: https://gs.statcounter.com/social-media-


stats/all/bangladesh/#monthly-201810-201910

(2019, November 01). Retrieved from The Self Employed:


https://www.theselfemployed.com/marketing/6-ways-build-trust-customers-social-media/

Appendix

11 | P a g e

You might also like