The Social Media Project

The Social Media Project - The Social Media Project...

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The Social Media Project Contents Introduction Chapter 2 Problem statement 2 Motivation 2 Research question 2 Interpretation 3 Scope 3 Methodology 4 Project type 4 Models and theories 4 Structure 4 Data collection 4 Criticisms of data 4 Introduction 5 Social media platforms suitable for B2B 6 Benchmark 11 Conclusion 12 Key success factors that affect the social media marketing 13 Industries that can benefit from using social media marketing 15 Parts of the value chain in which SMM could be used 15 Social media in R&D 17
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Social media in Marketing and sales 17 Social media customer support and service 19 Costs involved in engaging in social media marketing 20 Measuring the outcome of social media marketing 20 Social media and the future 23 Appendix 24 Linked IN 24 Twitter 28 FaceBook 32 Youtube 34 Blogs 37 Forums 39 Literature list 41 Introduction Chapter Problem statement Motivation Social media has revolutionized the way we communicate with each other. People who previously just was content consumers, now has the possibility of being content producers. New social media brands keep popping up, and people are starting to interact more and more. What is interesting is to see how social media and B2B companies are using social media, why they are using it, and what they are gaining from it. With the introduction of social media, a new marketing term arose: social media marketing. This brings up an interesting discussion, saying that the control has now been taken out of the companies’ hands, and into the consumers and business partners’ hands. It will be interesting to look into, how the companies can den deal with this fact. Do they need to try to regain the control, or is it actually a positive thing, and how can they benefit from the new communication structure. Is social media marketing for everyone; and can it create a negative effect if not handled
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correctly. The communication possibilities are developing extremely fast, and it is important for the companies to be alert of the new and upcoming trends, and to be well informed when choosing how and which activities to engage in. Research question How can small companies benefit from the use of social media marketing? The sub-questions giving a clear view for the answer to the research question: 1. Which social media platforms are suitable for B2B? 2. Which are the key success factors that affect the social media marketing? 3. Will it be equally beneficial from all industries to use social media marketing? 4. In which parts of value chain and for what purposes social media could be used? 5. What will be the costs involved in engaging in social media marketing? 6. How do you measure the outcome of social media marketing? 7. How will the social media develop in the future?
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This note was uploaded on 01/26/2012 for the course BUSINESS BUS 520 taught by Professor Dr.mohamed during the Spring '11 term at Strayer.

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The Social Media Project - The Social Media Project...

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