a) What are 3 different methods to measure ROI of social media marketing? What are the pros and cons of each?
ROI stands for Return on Investment, which is gain from investment minus cost of investment and divided by cost of investment. We need several steps to illustrate this concept.
First step is establishing a baseline to show the change between before and after using social media, in both awareness and income. The pros of this step is that this is the real start of using social media to help increase the social awareness. But it is really hard to establish a new part of social media in marketing. It does cost much time and effort at first to build it well.
Second step is creating activity timelines. It clearly shows what we have done so far since we used the social media tools. The pro is it can clearly give out the image of what the company has done or received since using social media. However, the most difficult part also the con is that it is hard to track every action of the social media tools. It will cost too much on recording everything from those platforms.
Third step is looking at sales revenue, transaction numbers, and new customers. It can help us to find out how the social media tools truly help us. Using the visual stuffs, employees of company can learn what progress they have made in the past time. It would courage them to do better in the future. On the other hand, if the data shows a negative result, it may beat people down and they will lose faith in social media tools.
Wednesday, March 21, 2012
Tuesday, March 20, 2012
This Is Patagonia
Here is the summary of the Patagonia case
Patagonia is an outdoor wear company. It focuses on producing the outdoor activities stuffs such as clothes and facilities for people who love and crazy for outdoor activities.
Patagonia uses some social media tools such as Facebook, Twitter, and YouTube. Despite Patagonia attracts not too much people, the people who follow Patagonia or comment on Patagonia's site are loyalty Patagonia consumers. They are keep close relationship to Patagonia and love its products.
Patagonia receives thousands of "Like" on its Facebook page. It shows that Patagonia does have a good reputation and very famous in the world. For Patagonia, it can analyze its target customers and what they love most. It can help Patagonia improve its products and service and then receive more consumers and loyalty consumers.
Among all social medias,Patagonia uses YouTube best. The videos on YouTube are especially for those who really enjoy travelling, hanging out, and adventures. They can easily find what they need in these videos. Suitable for target audience means that even though Patagonia will not have too much followers or subscribers, it can spread itself quite widely. However, Facebook does not help Patagonia too much. Patagonia's homepage of Facebook is lack of new or unique value for the brand or online conversations. The information is not social or interactive. So it receives quite little useful attention from Facebook.
Patagonia states that they spend 10% of their yearly income in protecting environment. It stands for green company which cares about what people have done to the earth and it really takes actions to make up the destroy we have made. So the mission of Patagonia is not only provide what its customers really need, but also serve consumers and all people a natural and clean world.
Patagonia is an outdoor wear company. It focuses on producing the outdoor activities stuffs such as clothes and facilities for people who love and crazy for outdoor activities.
Patagonia uses some social media tools such as Facebook, Twitter, and YouTube. Despite Patagonia attracts not too much people, the people who follow Patagonia or comment on Patagonia's site are loyalty Patagonia consumers. They are keep close relationship to Patagonia and love its products.
Patagonia receives thousands of "Like" on its Facebook page. It shows that Patagonia does have a good reputation and very famous in the world. For Patagonia, it can analyze its target customers and what they love most. It can help Patagonia improve its products and service and then receive more consumers and loyalty consumers.
Among all social medias,Patagonia uses YouTube best. The videos on YouTube are especially for those who really enjoy travelling, hanging out, and adventures. They can easily find what they need in these videos. Suitable for target audience means that even though Patagonia will not have too much followers or subscribers, it can spread itself quite widely. However, Facebook does not help Patagonia too much. Patagonia's homepage of Facebook is lack of new or unique value for the brand or online conversations. The information is not social or interactive. So it receives quite little useful attention from Facebook.
Patagonia states that they spend 10% of their yearly income in protecting environment. It stands for green company which cares about what people have done to the earth and it really takes actions to make up the destroy we have made. So the mission of Patagonia is not only provide what its customers really need, but also serve consumers and all people a natural and clean world.
Wednesday, March 14, 2012
Homework No.1
a)Discuss why is social media an important part of an organization's marketing strategy? Why it is important to market yourself? How can you build your brand online?
As social media is being more and more widespread all over the world, corporations can easily made themselves famous with the help of social media networks such as Facebook, Twitter, and LinkedIn. In this method, companies can save a large amount of money from advertising but get better feedback from audience. As a result, companies must be more than happy to use social media tools to help them finish the marketing strategy.
For me, if I want to build my own brand online, I will post what I already got in my social network websites. Since I have many friends in the Facebook, Renren, and other social media, if I post information about my brand, all of my friends must have chance to see it and maybe more than half of them will tell their friends. In this case, I spend nothing but I receive a plenty of attention from every where in my life circle and even boarder. That is why it is very important when I am marketing myself.
If I really want to create a brand online, I would like this brand relates to nail design. Because I am crazy for nail colors and design myself, I hope that I can come up with more ideas with others and we can try those brilliant polishes on our own nails and for those who really love nail design but have no time or experience before. In order to build up my brand, I will post what I already designed on my own page to make people believe me. Because the brand is built online, I can just use those social networks as inter media to attract people and contact people online. They can tell what they want to create or just basic idea. Then I will contact them to meet and do the nail art for them. That is how I want to build my own online brand. (The photos are my own nail colors I made before.)
As social media is being more and more widespread all over the world, corporations can easily made themselves famous with the help of social media networks such as Facebook, Twitter, and LinkedIn. In this method, companies can save a large amount of money from advertising but get better feedback from audience. As a result, companies must be more than happy to use social media tools to help them finish the marketing strategy.
For me, if I want to build my own brand online, I will post what I already got in my social network websites. Since I have many friends in the Facebook, Renren, and other social media, if I post information about my brand, all of my friends must have chance to see it and maybe more than half of them will tell their friends. In this case, I spend nothing but I receive a plenty of attention from every where in my life circle and even boarder. That is why it is very important when I am marketing myself.
If I really want to create a brand online, I would like this brand relates to nail design. Because I am crazy for nail colors and design myself, I hope that I can come up with more ideas with others and we can try those brilliant polishes on our own nails and for those who really love nail design but have no time or experience before. In order to build up my brand, I will post what I already designed on my own page to make people believe me. Because the brand is built online, I can just use those social networks as inter media to attract people and contact people online. They can tell what they want to create or just basic idea. Then I will contact them to meet and do the nail art for them. That is how I want to build my own online brand. (The photos are my own nail colors I made before.)
Respond to Qs
a) Explains why you are taking this class.
The most primary reason for choosing this course is because it is the perfect one for me to transfer the credit back to my original university. After having the first time class, I found it is quite interesting and useful. Now taking this class is mainly for acquiring knowledge in the field of marketing.
b) Discusses what you hope to get out of it?
In this class, we mainly learn about what the social media is and what its function is. So after taking this class, I hope I will use social media tools more frequently than before. For example, I seldom use Twitter before, although I have the account for a long time. But now, I believe I will keep using Twitter in the future. What's more, I want to obtain the useful skills for running corporations with the help of social media. It will benefit me no matter what I do in the future.
c)How you plan to apply what you learn in this class.
If I plan to start a business after I graduate, I can use what I learnt here to help me attract attention from the mass market without paying too much time and money on traditional advertising or research way.
The most primary reason for choosing this course is because it is the perfect one for me to transfer the credit back to my original university. After having the first time class, I found it is quite interesting and useful. Now taking this class is mainly for acquiring knowledge in the field of marketing.
b) Discusses what you hope to get out of it?
In this class, we mainly learn about what the social media is and what its function is. So after taking this class, I hope I will use social media tools more frequently than before. For example, I seldom use Twitter before, although I have the account for a long time. But now, I believe I will keep using Twitter in the future. What's more, I want to obtain the useful skills for running corporations with the help of social media. It will benefit me no matter what I do in the future.
c)How you plan to apply what you learn in this class.
If I plan to start a business after I graduate, I can use what I learnt here to help me attract attention from the mass market without paying too much time and money on traditional advertising or research way.
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