Social Media Management Mini Project Final

Some of the key takeaways from the document are that social media marketing has wider reach and is relatively cheaper than traditional advertising methods. It also allows for more customization of content for different target audiences.

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ABSTRACT

Introduction:

Social media has gained importance and acceptance at a very past pace. It has

Become an avenue to share one’s personal and professional life. The usage of social

media as A marketing tool is already implemented by many businesses. This reports analyzed how Use effectively social media as a marketing tool. The comparison of social media versus Traditional media for marketing was studied and advantages and disadvantages of both are Compiled. This report also analyzed how small business start-ups can benefit from the ever Growing social media industry.

Method:

This report used journals, magazine articles, newspaper articles, business reviews, Online survey and so on from the library of Amity University. Further official social media Pages of various companies on Facebook, Twitter and LinkedIn were analyzed to generate Statistics.

Result:

Social media presence is definitely an advantage for all kinds of businesses. Social Media marketing has wider market appeal and is relatively cheaper than traditional Advertisements. With a huge number of audiences and high customizability of social media For required content, social media marketing emerges as an exciting and effective tool for Marketing.

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Chapter 1 INTRODUCTION

Social Networking sites have taken over today’s world. From what was started merely for

entertainment, today these websites provide a host of opportunities to its users ranging from marketing their products, increasing awareness on social issues, sharing photos, video calls, joining groups and forums of interests, promoting an idea, finding family roots, finding a lost friend, gaming, entertainment applications and so on. In fact the usage of social networking sites has been so diverse that many people use it for more than just entertainment. Mena et al (2012) studied the readiness of health students to use Facebook as a platform for training professional habits particularly in the case of influenza vaccination. This clearly shows social networking sites serve as a creative solution to many business problems.

1.1 OVERALL AIM

Marketing is of core importance to any kind of business. It can range from promotions and advertisements on a large scale to one to one word of mouth marketing. Marketing forms the essence of a business by which the brand name is reached to the intended audience. The cost associated with traditional marketing techniques including print and visual media is increasing at a fas

t pace. The cost of a full page colour advertisement in ‘Time of India’ is

around

₹

200,000, if not more. Thus it is important to look out for new and more creative methods of marketing. Online marketing especially social media marketing is a sensible alternative. This report tries to analyse how effective is marketing via social media. The report also compares and contrasts the advantages and disadvantages of social media marketing with

traditional advertising like print and visual media. Today’s young

sters are aspirers. They dream big and want to be their own boss. Most of them aspire to be entrepreneurs and the success stories of entrepreneurs are a huge encouragement for them. A major problem that these entrepreneurs face while starting a new business is the cost associated with the brand building and marketing. In this era, though the young population is all set to take over the world with extended technological advancements, many of them fail due to lack of financial

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resources for brand building. It is in this scenario that this report analyses how well social media marketing can help new businesses. Therefore the objectives of this report are as follows: To study the effectiveness and implementation of social media marketing for different businesses To study how social media can be useful for small businesses and new business startups. To compare and contrast social media marketing to traditional marketing

1.2 METHOD

This report uses academic journals, magazine articles, live survey and newspaper articles which gives an idea about the relevance of social media as a marketing tool. These were

accessed via the library of Amity University. The search keys given were ‘social media’,

‘marketing through Facebook’, ’Start

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ups and social media’ ‘Facebook marketing’ ‘Twitter

marketing’, ‘LinkedIn marketing’ ‘social media marketing’ and so on. Various social

networking websites were also visited to get insights on how marketing can be done through them. Also, in order to get ideas on how new business start-ups are using social media for marketing success stories of some entrepreneurs who recently started their business were read. The structure of this project report is as follows. Chapter 2 does a literature review on the topics social media as a marketing tool for B2B markets, social media as a marketing tool for B2C markets and using Facebook, Twitter and LinkedIn for marketing. Chapter 3 is a critical evaluation of these literatures studied and discusses pros and cones of social media marketing as compared to traditional marketing. It also includes the findings which came to light as a result of the interaction with the Marketing manager of Indigo.co.in. Chapter 4 concludes the report by stating the effectiveness of social media for marketing. It also gives recommendations to owners of new start-up businesses on how to manage their social media accounts to generate more profits from their businesses.

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INDUSTRY OVERVIEW

Social media marketing:-

Social media marketing programs usually center on efforts to create content that attracts attention and encourages readers to share it with their social networks. A corporate message spreads from user to user and presumably resonates because it appears to come from a trusted, third-party source, as opposed to the brand or company itself. Hence, this form of marketing is driven by word-of-mouth, meaning it results in earned media rather than paid media. Social media has become a platform that is easily accessible to anyone with internet access. Increased communication for organizations fosters brand awareness and often, improved customer service. Additionally, social media serves as a relatively inexpensive platform for organizations to implement marketing campaigns.

Social media marketing tools:

Besides research tools, various companies provide specialized platforms and tools for social media marketing:

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Social media measurement

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Social network aggregation

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Social bookmarking

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Social analytics

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Automation

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Social media

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Blog marketing

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Validation

Different Methods of Social Media Marketing