(NIU) How Big Business Utilizes Social Media
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How Big Business Utilizes Social Media Michael A. Gaspar Northern Illinois University UBUS 310 Dr. Tim Aurand
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PPTX. Guest Lecture Presentation. Northern Illinois University College of Business. November 15, 2010.
Transcript of (NIU) How Big Business Utilizes Social Media
How Big Business UtilizesSocial Media
Michael A. GasparNorthern Illinois UniversityUBUS 310Dr. Tim Aurand
What is social media?
• Marketing tools that are intended to create and foster relationships between businesses and consumers in hopes of meeting the needs and expectations of both parties involved
• Ideally adds value to the consumer experience
• Combination of marketing strategy and social networks
• Microblogs, resources, articles, video, blogs, applications
Social Networks
• Platforms on which social media marketing can be implemented
• twitter, foursquare, facebook, You Tube, LinkedIn
• twitter is a microblog social network that allows users to share thoughts, links, resources, and create relationships in 140 characters
• Roughly 15 million active users, business to social
• Implications for both B2C and B2B
• facebook is the veteran social network, incorporating applications, fan pages, and profiles to stay in touch with community
• Roughly 500 million active users, business to social
• Implications for both B2C and B2B
Foursquare
• Foursquare is a geolocation-based social network that uses your laptop’s and mobile device’s GPS to allow you to check-in to various points of interest, share them with your network, and leave suggestions and reviews about businesses in the area
• One check-in per second, business to social
• Mostly B2C; B2B
You Tube
• Video sharing community ranging from professionals to private users
• 2 billion + views per day
• B2C; some B2B implications
Old Spice Video
• LinkedIn is a professional networking community that allows you to connect with and sustain contacts that help drive new business
• Roughly 60 million users
• Mostly B2B
Other Media
• Blogs
• White Papers
• Publications
• Mobile Applications
• SMS/Text
• Powerpoint and Document sharing
Social Media for b2c
• Designed to holistically bind all marketing tools
• Create value for consumers
• Brand monitoring
• Marketing metrics and research
• Customer support
via MIT Hoffman Business Review Fall 2010
The Theory Behind SM
Brand Awareness
Brand Engagement
Word of Mouth
CONVERSION
Questions
