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The impact of social media on marketing

The impact of social media on marketing | Leo Rockets Design | Scoop.it

Social media can be referred to as internet based applications that allow users to create and exchange information. Social media platformsare convenient, accessible and scalable; hence they have revolutionized the way we communicate. In fact, social media has become so ubiquitous that Facebook started trading on NASDAQin what was tagged the largest-ever Internet IPO, which could easily value the company above $100 billion.

Analyzing the impact of social media on marketing is very important because marketing is an important pillar in an organizations overall business strategy. It is within marketing plans that we see details such as marketing objectives, marketing mix decisions and marketing decision making variables of segmentation, positioning and targeting – which are all crucial in achieving business objectives.

In addition, modern companies also have social media strategies which are driven by the marketing strategy. A good social media strategy creates a platform to initiate and act on conversations around key customer concerns. A company’s presence on social media platforms should have clear objectives such as building visibility, deepening relationships and enhancing credibility. This will create interest and awareness about the value proposition.

Even though the use of social media is exciting, the most critical factor that must be considered is the impact it has on the business. Unfortunately, many companies join the social media bandwagon without ensuring that it synchronizes with the overall marketing strategy and business objectives. This often fails to achieve the business objectives because it is not a targeted effort.

Social media has had a profound effect on marketing in its ability to influence consumer behavior. There has been proliferation of web advertising with big multinational corporations such as Coca Cola also getting involved. Coca Cola now reaches out to millions of customers outside the traditional digital channels such as television and radio by advertising on YouTube. This trend has also caught up in Nigeria with major Nigerian banks such as Zenith, GT Bank and even the more traditional First Bank all reaching out to customers through twitter and Facebook.

As a result of this trend, marketers now deliberately use social networking sites to target prospective customers, for example, ten years ago advertisements on the American Super Bowl had an element of surprise to them with millions of people waiting to see the ads on the Super Bowl day. However, in recent years, some of the major advertisements are pre released on social networking sites such as Face Book, twitter and You Tube. This generates excitement even before the game, which is an indication of how marketing has changed in this era of social networking.

Furthermore, market research companies now use the power of the internet and social media to gather data about consumer behavior through the use of online focus groups and surveys. A well-knownweb based resource; survey monkey offers survey solutions and an alternative to the traditional market research. This example shows that technology, especially social media and the proliferation of devices such as smart phones has re-defined marketing.

However, I contend that in the next few years, these technology based social media platforms will make it more difficult for marketers to target consumers due to fragmentation. This fragmentation will be aided by the increase in technological devices such as iPhones and iPads. This is because the use of such devices cuts across the traditional age, gender and income group segments. This is also likely to reduce the effects of mass marketing techniques and brand loyalty.

In conclusion, even though social media platforms will continue to create opportunities, it remains to be seen if these myriad of opportunities can be converted into significant revenue growth by companies.

Kayode Yusuf

Chartered Accountant & Management Consultant

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How Employers Are Paying in 2012 [INFOGRAPHIC]

How Employers Are Paying in 2012  [INFOGRAPHIC] | Leo Rockets Design | Scoop.it

For those of you who have been working hard for your companies under tight financial constraints during the last few years, a silver lining might be coming your way. Thanks to rosy outlooks of employers in companies of all sizes across the country, it looks as though 2012 is going to be the year of the raise.

According to the infographic below, which was researched and compiled by PayScale.com, more than 93% of employers surveyed plan to give compensation adjustments to their workforces. That’s significantly more than the percentage of employers who actually gave their employees salary adjustments in 2011 (60%) and 2010 (about 30%). The good news isn’t just for the already-employed, either: A large percentage of companies in the business support services, information/telecommunications and retail sectors expect financial growth in 2012 — a sure sign of new jobs to come.

Check out the infographic, which also maps out employer performance in 2011 in areas such as recruiting, social media and overall growth. Do you think 2012 will be a boom year for employees? 

 

See it here: http://mashable.com/2012/03/03/salary-guide-2012/

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The beginning of the end of Google?

The beginning of the end of Google? | Leo Rockets Design | Scoop.it
The upcoming IPO of Facebook, the flak surrounding Twitter’s decision to censor some tweets, and Google’s weaker-than-expected 4th-quarter earnings all point to one of the big events of our times: The crazy, chaotic, idealistic days of the Internet...
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Baudouin Photo Series — I am a Parisian Lady

Baudouin Photo Series — I am a Parisian Lady | Leo Rockets Design | Scoop.it
Posts Related to Baudouin Photo Series -- I am a Parisian LadyAlain Delorme, Paris – PhotographyArby n the Chief SeriesChristy Lee Rogers PhotographyBlack and White Photography by Elliot ErwittPortraits of Dogs as They Shake Off WaterArchitecture ...
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Did Publishers miss the iPad opportunity?

Did Publishers miss the iPad opportunity? | Leo Rockets Design | Scoop.it

The iPad is already 2 years old: has it been an opportunity to reinvent the media? This is the whole idea of this topic and Alan D. Mutter thinks they largely missed on the opportunity quoting interesting examples but also some key data: "In a study released last year, the Pew Research Center’s Project for Excellence in Journalism found that 90% of tablet owners – who are concentrated among wealthy, highly educated grownups between the ages of 30 and 49 – regularly use the gizmos to consume news. Significantly, 59% of the respondents said the tablet has taken the place of “what they used to get” from a print newspaper."

 

Is it too late and can media publishers change the game?


Via Guillaume Decugis
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Four Reasons Advertising As We Know it No Longer Works | Social Media Today

Four Reasons Advertising As We Know it No Longer Works | Social Media Today | Leo Rockets Design | Scoop.it
Advice on how to influence audiences in an attention deficit world (Four Reasons Advertising As We Know it No Longer Works http://t.co/qbhnf05n...)...
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Melbourne Street | fresh original photography from Melbourne's streets | rowers series ii

Melbourne Street | fresh original photography from Melbourne's streets | rowers series ii | Leo Rockets Design | Scoop.it
Melbourne Street.fresh original photography from Melbourne's streets (RT @Will_Watt: rowers series ii :: http://t.co/NmSbIkU0 :: fresh frames from melbourne's streets #photography #melbourne...)...
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Twitter begins self-serve advertising for small businesses | Reuters

Twitter begins self-serve advertising for small businesses | Reuters | Leo Rockets Design | Scoop.it
SAN FRANCISCO (Reuters) - Twitter Inc.on Thursday formally launched a service to allow small businesses to buy and place ads on the online messaging platform.Twitter, which for years has sought ways (RT @RtrsIN_TopNews: Twitter begins self-serve advertising...
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35 Outstanding Examples of Photo Manipulation Art | Web Design Burn

35 Outstanding Examples of Photo Manipulation Art | Web Design Burn | Leo Rockets Design | Scoop.it
Photo manipulation is probably one of the most popular form of art used in print media and digital art, that requires a skill and precision as we know, it is one of the most creative artforms to come out of the digital age.
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The Sneaky Psychology of Influence (selling) and Advertising - Ecademy

The Sneaky Psychology of Influence (selling) and Advertising - Ecademy | Leo Rockets Design | Scoop.it
The Sneaky Psychology of Influence (selling) and Advertising - RapidBI.com - Content to help you think (The Sneaky Psychology of Influence (selling) and Advertising - @ecademy http://t.co/fTlZEjUM...)...
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Social Media Marketing: How to choose the right online channels | Web SEO Analytics | Facebook Assistant

Social Media Marketing: How to choose the right online channels | Web SEO Analytics | Facebook Assistant | Leo Rockets Design | Scoop.it
One of the most common mistakes that companies make while designing their Social Media Marketing campaigns is that they fail to choose carefully the online...
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The 10 Coolest YouTube Art Channels

The 10 Coolest YouTube Art Channels | Leo Rockets Design | Scoop.it
Laugh and learn with these smart art video outlets. Complex.com: The original buyer's guide for men.
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Creating A Profit Building Marketing Plan For Your Wedding Business

Creating A Profit Building Marketing Plan For Your Wedding Business | Leo Rockets Design | Scoop.it
Good Friday #Morning from the team at YDS, we have uploaded a great profit building #wedding article on our...
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Project Wisconsin. 365 Towns. 365 Logos

Project Wisconsin. 365 Towns. 365 Logos | Leo Rockets Design | Scoop.it
RT @Maurice: Project Wisconsin: 365 towns. 365 logos.
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A collection of character sketches from a... | Korra Nation

A collection of character sketches from a... | Korra Nation | Leo Rockets Design | Scoop.it
A collection of character sketches from a production meeting - including Korra and a shot of her father. 3/1/2012 (New art from Legend of Korra: sketches of Korra and her father!
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Hair brush set by para-vine - Design Treasure - Free Brushes | Design Treasure - Free Brushes

Hair brush set by para-vine - Design Treasure - Free Brushes | Design Treasure - Free Brushes | Leo Rockets Design | Scoop.it

Via DesignTreasure.com
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iPad 3: Who Will Buy One, and Why? [INFOGRAPHIC]

iPad 3: Who Will Buy One, and Why? [INFOGRAPHIC] | Leo Rockets Design | Scoop.it

Source: AYTM Research

 

"How well will the iPad 3 sell when it's introduced next month? Who's going to upgrade, and who will sit on the sidelines, enjoying their current version of the iPad, or no iPad at all?"

 

Beyond rumors and speculations about its coming release, this Infographic gives interesting figures on current iPad usage and expectations.

 

Among key features expected:

- 4G

- a better battery (which is a surprise to me as I find it ever-lasting already...)

- faster CPU (I'm with the crowd on this one though!)

- a better camera (so, some people use actually use it? Oh... wait! Maybe for Skype calls then)

 

...and moving production to the US (did they survey only Californians then?).

 

The data was gathered by AYTM, a company enabling you to build your own Market Surveys.


Via Guillaume Decugis
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Benefits of SEO in web marketing - by John Louie Ramos - Helium

Benefits of SEO in web marketing - by John Louie Ramos - Helium | Leo Rockets Design | Scoop.it
With the meteoric rise of the Internet during the early years of the 21st century, business organizations have started to position themselves stra..., John Louie Ramos (Benefits of SEO in web marketing -
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Soul River Designs Custom Rod for The Fly Fisher Group

Soul River Designs Custom Rod for The Fly Fisher Group | Leo Rockets Design | Scoop.it
We take fashion, art, design to the river and we get our SWAG ON! JOIN US AND GET DOWN WIH US! GET AN SR CUSTOM ROD!
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archivethomasruff

archivethomasruff | Leo Rockets Design | Scoop.it
A survey of current and recent art exhibitions around the world, organized geographically and archived categorically including architecture and design.
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Gorgeous Architecture Photography | Design News

Gorgeous Architecture Photography http://t.co/u8wXe7VE #webdesign #design...
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Urban Cool - Graphic and Web Designer

Urban Cool - Graphic and Web Designer | Leo Rockets Design | Scoop.it

Home of creative specialist, Shane Kavanagh aka Urban Cool. This website goes beyond what I call cool. I actually leave it on just as my background.

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63+ Impressive Photography Logo Designs for Inspiration - Bloom Design Blog | Bloom Design Blog

63+ Impressive Photography Logo Designs for Inspiration - Bloom Design Blog | Bloom Design Blog | Leo Rockets Design | Scoop.it
Here is a massive collection of Photography & Camera based Logo Designs for Inspiration!
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How to Create Marketing Offers That Don't Fall Flat

How to Create Marketing Offers That Don't Fall Flat | Leo Rockets Design | Scoop.it
Learn the difference between good and bad marketing offers, and the best practices for creating great offers for your business.
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