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The Benefits of Social Media As A Marketing Tool

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Tasmin Shanley

on 9 January 2013

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Transcript of The Benefits of Social Media As A Marketing Tool

by Jessica Ruston, Tasmin Shanley & Glenn Parker The Benefits Of Social Media As A Marketing Tool Social Media as a Marketing Tool “Social media presents a golden opportunity for the hospitality industry to make greater contact with its customers, with an ultimate goal of developing a partnership for brand growth and development.”

(Withiam, 2012). So What is Social Media? Social Media comes in many different forms including;
Blogs
Social Networks
Content Communities
Forums and Bulletin Boards
Content Aggregators Customer Relationship Marketing Social Media marketing is commonly known as
'relationship marketing' Benefits of Social Media Micheal Stelzner (2012)
The main benefit of using social media marketing is 'generating more business exposure (reported 85% of marketers), followed by increasing traffic (69%) and providing marketplace insight (65%)’ Social Media as a Marketing Tool Constantinides, E & Fountain, S. (2008) Mobile Apps Just under half the UK population now own a smart phone. Arthur,(2011)

Hospitality organizations will produce mobile apps to help their consumers stay connected on the go.

Businesses can stay connected with their consumers at all times, living 'in the pockets of the consumer' Javier (2009) states 7 key benefits;
1. It’s affordable
2.It’s viral
3.Improves your brand reputation
4.Increases traffic to you website
5.Helps your brand establish a strong connection with your audience
6.Connects you with leaders in your field
7.Builds credibility Aims; Discuss the advantages and disadvantages of social media as a marketing tool
To look at the platforms that businesses use and analyze how effective they are
Analyze the forms of social media that businesses are using
Compare Traditional Marketing to Social Media Marketing
The use of mobile apps
The Importance of CRM Relationship marketing has more benefits than traditional marketing because;
There is continuous customer contact
It is more customer orientated
It has a longer time scale
High commitment to meeting customer expectations Kotler et al, 2003 "Building long term relationships with customers is a key to sustainable businesses" Bhasin, H (2011) Most Hospitality websites will provide a Facebook link somewhere on the page
Worldwide, Facebook is most popular networking site. The Facebook Newsroom (2012) has shown that the site is now reaching 1 billion users actively each month as of October 4th this year.
People's likes and interests will create a thread that will appear on the homepage.
http://www.blogs.marriott.com/marriott-on-the-move/2012/07/best-bathrooms.html Using social media and Customer Relationship Marketing together can ensure that a lasting, long term relationship is built. Traditional Marketing
vs.
Social Media Marketing Traditional Social Media Traditional marketing includes; radio ads,
magazine and newspaper ads,
television ads and print advertising. It provides; Real World Communication
Face to Face Selling However; It’s forced on you
Lack of community Souza (2012) Social marketing is the latest method
of buying and selling online.
It’s growing as it can overcome problems
that traditional marketing has. It Provides; Much higher conversion ratios
Community building However; Needs high rates of internet activity Souza (2012) Social Influence-eWOM The rise of social networking sites and Web 2.0 technologies such as Facebook and Twitter allows users to notify their online friends of what they are up to and ‘brag, boast, inform and vent to everyone in their network.’ (Qualman,2011;92) This has changed the way in which people communicate with each other WOM is considered to be the most effective form in the integrated marketing mix and 92% of people rely on recommendations from their peers because seeking a purchase. Bennett (2012) Social Media sites such as Trip Advisor and Expidea can allow consumers to openly post their thoughts and feelings of an experience, which encourages eWOM and allows businesses to see directly what their customers opinions are, allowing them to make any chances if necessary. Summary Social media is and engaging,fast and interactive.
Providing benefits and quick information access for both consumers and busnesses There are many risks to consider when using social media as a marketing tool. However over all social media is still increasing in popularity, therefore allowing companys to reach mass markets that they are unable to do through traditional marketing Arthur, C. (2011 ). Half of UK population owns a smartphone. Available: http://www.guardian.co.uk/technology/2011/oct/31/half-uk-population-owns-smartphone. Last accessed 22nd Nov 2012.

Bennett, S. (2012). Social Media Vs. Traditional Media. Available: http://www.mediabistro.com/alltwitter/social-vs-traditional-media-marketing_b25389. Last accessed 26th Nov 2012.

Constantinides, E & Fountain, S. (2008). Web 2.0: Conceptual foundations and marketing issues. Available: http://www.palgrave-journals.com/dddmp/journal/v9/n3/full/4350098a.html. Last accessed 26th Nov 2012.

Hitesh Bhasin. (2011). 5 levels of relationship marketing. Available: http://www.marketing91.com/5-levels-relationship-marketing/. Last accessed 31st Oct 2012.

Javier. (2009). 7 Key Benefits of using Social Media as a marketing and a branding tool. Available: http://brandingeye.com/7-key-benefits-of-using-social-media-as-a-marketing-and-a-branding-tool/. Last accessed 20th Nov 2012.

Kotler, P., Bowen, J. & Makens, J. (2003). Marketing for Hospitality and Tourism, 3rd ed. Pearson Education.

•Mark Zuckerberg. (2012). One Billion People on Facebook. Available: http://newsroom.fb.com/News/One-Billion-People-on-Facebook-1c9.aspx. [Accessed 13/10/2012.]
Qualman, E. (2011). Socialnomics How Social Media Transforms The Way We Live and Do Business. John Wiley & Sons inc, New Jersey.

Souza. (2012). Pros & Cons of Traditional vs. Social Media Marketing. Available: http://socialmediatoday.com/johnsouza/559299/pros-cons-traditional-vs-social-media-marketing. Last accessed 26th Nov 2012.

Withiam, G., (2012). Social Media and the Hospitality Industry: Holding the Tiger by the Tail. Vol 3 No 3. Available at; http://www.hotelschool.cornell.edu/research/chr/pubs/roundtableproceedings/roundtable-15500.html. [Accessed; 12/10/2012.] References
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