social media - an insight
TRANSCRIPT
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Stage 1
The
Preliminar
y
Round
Team Name: The Hashtags
Name of first member: Renu Chowdary
College Name: IIM Trichy
Name of second member:Raghu Arun
College Name:IIM Trichy
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Social Media“You are what you share”
-C.W. Leadbeater
Any web based environment that allows users to easily create, publish and share content. Simply It is re-aligning customer service with digital age.
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Pros and Cons
Traditional Media
Costly –paid media channels
One way Mode
Broad Spectrum Approach
Low conversion rate.
Selling Brand.
Permanent Results.
Social Media
Inexpensive
Two way model
Narrow targets
High Conversion rate.
Selling “You”
Results disseminate rapidly.
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Changing perception of consumers
92% of the consumers report that word of mouth recommendation is the top reason they buy a product or service. Approximately 46% of the consumers rely on social media, when they make a buying decision.
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Scope of Social Media
• If face book were to be a Country It would be third largest in the world following China and India.
• Did you think TV was the best way to reach the masses? YouTube reaches more U.S. adults aged 18–34 than any cable network
• Every second two new members join LinkedIn
• About 9100 tweets happen every second.
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Social Media in B2B – B2C• They are two sides of the same coin. Social technologies
include broad range of applications that can be used both by consumers and enterprises
Source : Mckinsey Global Institute Analysis
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Generation of Leads
Source: State of Inbound marketing,Hubspot,2012
Leads generated through various social media for B2B
Leads generated through various social media for B2C
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Virality
In mid June 2014 Ice Bucket Challenge went viral on social media and is one of the most popular Viral Charity.
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Cost Benefit Analysis
Acquiring tools & software. Training Opportunity costs Inherent risks.
Web traffic Brand awareness Loyalty Customer satisfaction Competitive advantage. Higher conversion rates Decreased marketing costs. Improved Customer insights.
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Conclusion
Traditional media and social media go hand in hand .It is important to
have a mix of both depending upon the target segment and what you
are marketing. Integrating traditional media with social media
campaigns would prove to be effective
Social media isn’t just a fadIt’s a Revolution