Chapter 3: Literature Review:
The following chapter provides a review of the Literature on two concepts: 1. Social Media
2. Digital Marketing
The author will examine Social Media giving; definitions, why it is effective and why Social Media “should” be implemented in organisations ‘promotional activities’. Furthermore, the author will talk over the plethora of methods available to measure Social Media.
The author also ‘examines’ Digital Marketing, giving definitions relevant to the concept thus outlining the key stages involved in implementing a Digital Marketing campaign.
Concluding the Literature Review Chapter, the author will provide a conclusion analysing both concepts ‘prospective beliefs’.
Defining Social Media:
The social networking site phenomenon has completely and rapidly changed the way in which people interact.
“We have technology, finally, for the first time in human history allows people to really maintain rich connections with much larger numbers of people” - (Omidyar. P. Founder of eBay)
Understanding social media demands a paradigm shift for marketers. They must realise that their target audience is in fact no longer an audience, but ‘active participants’ in a constantly “evolving” debate in which they can ill-afford to discount.
Why it is important for your business to get involved in social media:
“Businesses need to transform the way they touch their clients and integrate themselves into the very fabric of what they do every day. They have to embrace social networks, digital communications, and the online experience and build an organisation that embraces conversation and transparency” – (Ryan. D., Jones. C. 2012)
Social Media is all about building relationships with your customers. Andreas Kaplan and Michael Haenlein (2010) define social media as:
“A group of Internet-based applications that build on the ideological and technological foundations of Web 2.0 and that allow the creation and exchange of user generated content”.
It is seen as an inexpensive way to grow your fan base, increase engagement ant collect leads along the way. Word of mouth is an influential way to leverage momentum, and with multiple channels available (i.e. Facebook, Twitter, Linkedin, and Google+) to do so, it gives a plethora of outcomes for a business (recognition, promotion, brand awareness, investments).
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change” (Charles Darwin).
“According to reports from 2011 (Socialmediaexaminer.com), approximately 78% of marketers who made use of a social media strategy within their marketing saw increased traffic with as little as six hours a week invested in social media”.
Companies need to be viral, innovative, non-traditional and aggressive in how they seek new business. When it comes to leveraging social media, the most successful companies use methods and practice that both ‘foster and capitalise’ on customers and employees’ collective intelligence and ingenuity (Safko. L.2012). When a business uses social media marketing, one size does not ‘fit all’ – analyse their many demographics. Keeping in mind that the fastest growing single demographic population within social media is the 54+ age group, whom also have the greatest amount of ‘income’. Also taken into consideration is the fact that the 18-35 age groups may be very mobile and may use their phones to do everything.
Social Software has emerged as a major component of the Web 2.0 movement (blogs, podcasting) along with the emergence of Social Networking sites (e.g. Facebook, Twitter, Linkedin) but to name a few. As Social Networking is seen as a low cost, user driven - high quality collaborative means of communication; it and the principles in which it is based upon have a lot to teach the corporate environment, thus empowering community content/knowledge...
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