Measuring the impact of social media marketing campaign.docx
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The document discusses a study on measuring the impact of social media marketing campaigns. It begins with an introduction on social media and its importance in marketing. The objectives of the study are to understand perceptions and awareness of social media marketing among respondents in Hyderabad, India. The scope covers how companies use social media platforms and data analytics to track marketing campaigns. The methodology section describes the descriptive research design used, including primary and secondary data collection and analysis of a sample of 100 industrialists in Hyderabad.
Measuring the impact of social media marketing campaign.docx
- 1. 1 A STUDY ON “MEASURING THE IMPACT OF SOCIAL MEDIA MARKETING CAMPAIGN” SUBMITTED BY BANGAROJU MOUNIKA ROLL NO : 19R01E0007
- 2. 2 ABSTRACT 1. INTRODUCTION 2. NEED, OF THE STUDY 3. OBJECTIVES OF THE STUDY 4. SCOPE, OF THE STUDY 5. METHODOLOGY AND LIMITATIONS
- 3. 3 ABSTRACT Social media has gained importance and acceptance at a very past pace. It has become an avenue to share one’s personal and professional life. The usage of social media as a marketing tool is already implemented by many businesses. This reports analysed how effectively social media be used as a marketing tool. The comparison of social media versus traditional media for marketing was studied and advantages and disadvantages of both are compiled. This report also analysed how small business start-ups can benefit from the ever growing social media industry. . The information flow through the introduction of the concept of social Media involving the synthesis of sociology and technology and creating an environment on the internet where people share experiences with each other and develop networks followed by analysis of its three main components (Publishing Technology for Everyone, Information Diffusion, and Relationship Building) highlighting its various dimensions. Further, it leads to discussion about Social Media Marketing becoming a latest and popular trend as a digital platform for social interaction between virtual communities. Next section details main social media platforms, their rankings, features, corresponding strategic actions followed by advantages and challenges for organisations using Social Media for Marketing
- 5. 5 INTRODUCTION Social media is basically the online content de- veloped by a variety of people who are open for access over the internet. In other words, social media is the shift of people`s attention on the online platforms where people share, discover and read information and gain knowledge (Borgan, 2010). Conrad et al., (2010) believes that social media is a sort of synthesis of sociology and technology and creating an environment or platform on the internet where people share experiences with each other and develop networks for a variety of different official and unofficial reasons. Social media has become an important plat- form and has gone so important that nearly every business uses social media for the marketing and promotion of their business, products and services. Social media is also used for sharing information and getting in touch with their customers and society at large. Ahmad (2011) suggests that social media can be divided in to 3 main components: • Publishing Technology for everyone: Social media is free and open for publish- ing for everyone and the technological advancement has made it even more con- venient. Social media is online therefore they are not restricted to any physical set up. Previously social places used to be like pubs, clubs, gardens where people used to interact with one another and share in- formation. Advancement in the technol- ogy and the development of virtual social platforms enable people to interact and develop network with one another, online social media has become the new talk of the town. On online social media everyone can be the publishers and generator of the content for which the information is shared (Ahmad, 2011) The technological developments are having con- siderable impact upon any organisation in variety of ways. The emergence of online technology has revolutionised the marketing operations all over the world (Baird & Parasnis, 2011). Now-a-days there is a high competition in the market and the customers have opportunities to take better decision for the available range of goods and services. In this competitive situation, the organizations need to be vigilant to retain cus- tomer’s loyalty. Reducing the communication gap between the company and the consumer could be a good way to create a better relationship which can further be helpful to
- 6. 6 develop a better under- standing of consumer’s needs and wants. Social media is playing crucial role in this regard and the enterprises are taking the benefit from social media’s friendly approach to build brand relation- ship (Hachinski et al., 2010). Social media sites are the communication ties being used to bind people together. Research have proven that the people are moving towards utilizing the social media for getting access to information, ideas and opportunities (Donath, 2004). Social media technology has modified the ways for managing the relationship between the brands and the customers. Success of the social media lies in a fact that it has provided the medium through which people interact with each other. They have been able to maintain connections with one another (Pauwels, 2004).The marketers are using the social media sites for fostering the brands. They employ social media to understand customer expectations and then develop appropriate strategies to promote their offerings for achieving the marketing goal (Donath, 2004). Commutation is very crucial and valuable for commencing the dialogues. Additionally, com- munication is the only tool that is used to initiate, develop and maintain the relationship between two persons. Communication opens doors for un- derstanding and eradicating confusion (McEwen, 2005). Social media serves as a podium for com- munication and engagement of the large variety of customers. Through this medium, companies can raise awareness about their brands. They can also promote their brands by disseminating their specialty and point of parity (Breivik & Thorb- jørnsen, 2008). Social media sites made interaction and communication so much easy those different companies can interact with their customers and know about their preferences which is then used offline for developing appropriate strategy for promoting brands. Social media provide flexibility to approach huge traffic of target audience due to variety of features (Brakus et al., 2009). Though face to face interaction and communication is much power- ful, yet social media tends to provide an efficient alternative for communication. It helps to manage the instant message communication and dialogues between the brands and customers. The conversa- tion between the brands and the customers can be stored over these sites and can be used for further improvement.
- 7. 7 Brands can also flash their advertisements on the social networking sites. Flashing the ads on the pages of the target audience is like winning a tender. Brands have to understand that they have to win the bid in displaying their ads. They have to clearly mention their target audience and place the highest bids. This ends in generating the exposure amongst many customers which may indirectly results in significant amount of sales and huge fan following for a brand. Social media platforms are not just a trend that has to be followed. Rather they have proofed their importance in building relationship of a brand with the customer, grabbing potential customers, customer retention, high end promoting system, and brand’s potential growth. Companies cannot afford to tend to ignore such a vital platform for the development of their brand. Conrad et al., (2010) said that the social media and social networking websites are most modern basis of marketing communication. The platform is providing the marketers more open and free way of communication. The new generation of websites provide the customers more integrative facilities and marketers are using these facilities. The security of modern websites is increasing and this is also enhancing the trust of customers on online buying the product from the organisation. The social networking website likes Facebook, Twitter, and LinkedIn and similar others are at- tracting millions of users. The marketers are looking for their customers on these social networking platforms and using these as sources of market- ing and communication with the customers. Here customers are getting information from social net- working websites at the same time they are testing and exchanging the information with each other. The reliability and validity of such information is more as customers trust each other more than the traditional ways of marketing. Social Media Marketing Marketing through social media is the latest and popular trend in the market. Traditional marketing tools such as TV, newspapers, magazines have been very expensive and cover a limited targeted market. The traditional marketing strategies were based on focusing on specific markets individu- ally. Even now it is difficult for businesses to target and market their products and services to the big geographical position through one single campaign such as covering the entire Asia through one newspaper advertisement; because not every country in Asia watches the same TV channels (Evans, 2012).
- 8. 8 The social media has entirely changed that approach towards marketing. When we see the basic definition of marketing it says to maximize the usage of resources of the business and develop products and services to satisfy customer needs. (Hajir, 2012) The social media marketing has in reality enabled the businesses to take the feedback, comments, and suggestions from their customers through blogs, pictures and ratings and improve their products and services so that customer needs could be addressed in a more proactive manner. So the advertising and marketing has entirely changed due to social media. Jaoker, Jacobs and Moore (2009) state that through social media, customers are building information about everything from insurance to career; from pet food to electronic appliances and through this customers are beating out marketers in their game. They are sharing their experiences with one another which now a days is directly making an impact on the business. This is the era of information; therefore it has become necessary that there is a spread of positive information about the company offerings out in the social platforms
- 9. 9 NEED OF THE STUDY This report relates to the company FACEBOOK. This study focuses on the marketing strategy with respect to SOCIAL MEDIA MARKETING. In order to succeed in the business a company needs to understand its customer needs and creates wants for them. FACEBOOK always do understand the customer’s needs and they do research on the industry and competitors of the customer. It is necessary to understand customer’s needs and their competitors for making an effective marketing strategy for the customers.
- 10. 10 OBJECTIVES OF THE STUDY 1. To know the perception level of social media marketing 2. To know the awareness level of social media marketing 3. To find out the budget spent on social media marketing by respondents inHYDERABAD. 4. To know the social media marketing activities, which are used byrespondents to promote their product and service 5. To find out since how long the respondents are doing social mediamarketing activities. 6. To find out how the respondents manage their social media marketingactivities currently
- 11. 11 SCOPE OF THE STUDY Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers. Most social media platforms have built-in data analytics tools, which enable companies to track the progress, success, and engagement of ad campaigns. Companies address a range of stakeholders 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 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." When using social media marketing, firms can 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.
- 12. 12 METHODOLOGY RESEARCH DESIGN The research design is Descriptive in nature. The research design is a blueprint for fulfilling the objectives & answering the questions. Selecting the research design is complicated due to availability of large variety of methods, techniques, procedures, protocol and sampling plans. So to understand and describe the current market phenomena for Awareness and growth of digital marketing among the Consumers, DESCRIPTIVE RESEARCH DESIGN has been applied in Quantities research. In that CROSS SECTIONAL STUDY has been applied, as units are measured from a sample of the population. Sources of Data PRIMARY DATA The data which is collected from first-hand experience is known as primary data. This data serves as the main source of data for any research based project work. The data can be collected in many ways as mentioned below: Questionnaires Personal Visit, etc. Secondary Data Secondary data consist of published material, or any other reference material which can be useful in the particular project. The source of secondary data are many such as, Research paper, internet. In our survey, we have collected information from websites Collection Method The data collection method used in this research is survey method. Here the data are systematically recorded from the respondents. Face to face informal interviews were done for data collection. At the end of the questionnaire the visiting card of respective respondent was taken for reference purpose. Questionnaire is been used as form of research instrument and it is the interviewer Administered. Sample Our sample is industrialist of HYDERABAD,TELANGANA. region. We have conducted a survey of 100 samples to know the awareness and perception of Social Media Marketing. Sampling Method In our study, we had used judgmental sampling method as our sample was decided on the basis of two criteria. 1) Sample selected must be from geographical area of HYDERABAD,TELANGANA.. 2) Sample must have industrial business & doing marketing of their product & services. Data Collection Instrument For the collection of data, we have used Structured Questionnaire.
- 13. 13 LIMITATION I have faced some obstacles at the time of preparing this report. But as an intern it was a great opportunity for me to know the sales activities and the marketing strategy. Some constraints are as follow Our study was limited to Hyderabad only.