eric phillip unit1 what is social media
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By: Eric Phillips
* Social Media: Friend of Business
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*Brief History
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The Meaning of Social Media
The Abundance of the Social Community
*Spell It Out
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Destined Partners
* What This Means for IT Sector
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*3 Great Things
Brand Awareness
• Increased Brand Exposure
• Increased Profit
Public Relations
• Better Social Image
• Counter to negative press
Customer Service
• Problems become known and are solved faster
• Customer Intimacy
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* Improved Customer Equity
Customer
Intimacy
• Rapport with Customers• Positive word-of-mouth
Business/
Customer
Collaboration
• Customers willingly offer ideas and info on competitors
• Creation buzz marketing
Repeat Purcha
ses
• Creation of relationships for long-term value• Sustainable Competitive Advantage
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*It’s A Process
(Bodnar, 2010, p. xx-xx)
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*Competitive Intelligence through Social Media
Competitive
Intelligence
Keep up with promotions of competitors
Market research using competitor’s customers Helps
functional strategy of recruiting
competition’s talent
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*Cost Effectiveness
(Handmadeology, 2011, p. xx-xx)
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*5 Take Aways
*Better Brand Equity
*Better Customer Equity
*Better Competitive Intelligence
*Cost Effective
*Exchange of Ideas for better products/services
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*Citations
* Bodnar, K. (2010, 24). 22 Educational Social Media Diagrams. Retrieved January 10, 2014, from http://blog.hubspot.com/blog/tabid/6307/bid/6005/22-Educational-Social-Media-Diagrams.aspx
* Business Today (2013, December 26). IT industry logged high-growth in 2013 - Business Today - Business News. Retrieved January 14, 2014, from http://businesstoday.intoday.in/story/it-industry-logged-high-growth-in-2013/1/201806.html
* Donnelly, M. (2013, January 15). Building Brand Awareness | Use Case Series. Retrieved January 11, 2014, from http://webcache.googleusercontent.com/search?q=cache:4wa8KMyfypoJ:www.meltwater.com/social-media-blog/social-media-marketing-use-case-building-brand-awareness/+&cd=2&hl=en&ct=clnk&gl=us
* Handmadeology (2011). Etsy Ad Pricing: Comparing Them to The Competition | Handmadeology. Retrieved January 12, 2014, from http://www.handmadeology.com/etsy-ad-pricing-comparing-them-to-the-competition/
* Jobvite (2013, September 5). Recruiters Increasingly Adopt Marketing Tactics in Fierce Competition to Hire, 2013 Jobvite Social Recruiting Survey Shows — Jobvite. Retrieved January 12, 2014, from http://webcache.googleusercontent.com/search?q=cache:-HQrS5aGL-0J:recruiting.jobvite.com/company/press-releases/2013/recruiters-increasingly-adopt-marketing-tactics-2013-jobvite-social-recruiting-survey-shows/+&cd=1&hl=en&ct=clnk&gl=us
* Power, D. (2013, September 22). Social Media Resources: Competitive Intelligence, and Social Influence | Sprout Social. Retrieved January 12, 2014, from http://webcache.googleusercontent.com/search?q=cache:C3trxdPvC-IJ:sproutsocial.com/insights/social-competitive-intel/+&cd=3&hl=en&ct=clnk&gl=us
* Rolland, S. E., & Parmentier, G. (2013). The benefit of social media. International Journal Of Market Research, 55(6), 809-827. doi:10.2501/IJMR-2013-068