Social Media Benefit

Using Social Media To Grow Your Brand Awareness

1. Create Brand Recognition

Gaining brand recognition is one of any business’ most important marketing goals. That’s because consumers want to buy brands they recognize. Thankfully, social media allows for easy and effective brand building.

Social media has a benefit over traditional media because it can get your brand in front of people much more quickly and easily. Furthermore, it gets your audience looking at your brand even when they aren’t thinking about your brand or product.

Tip: Pay attention to your profile and cover photos. A great way to create brand recognition is to place your logo often yet strategically. You want to make sure that it’s not overwhelming or distracting.

Make sure the visual elements of your brand are well represented.

Take a look at Nike’s Twitter page. Nike keeps their Twitter profile neat and clean. They place their recognizable logo on both their profile image and cover photo without being overbearing.

The cover photo is especially effective because it connects the Nike logo to the idea of running.

2. Generate A Conversation Around Your Brand

A strong social media marketing strategy will generate conversation about your brand, products, and partners.

Take this example from PlayStation. A simple post saying congratulations to Naughty Dog (the company behind the new video game Uncharted 4) for its success generated feedback on the game.

In doing so, they received a great amount of feedback about their product. They also got people talking. Fans were having genuine conversations, all facilitated by social media.

Tip: Engage with your audience when they comment on your social media messages. Make sure they feel that there is a person behind the brand.Ensuring that they don’t feel like they’re talking to a robot will give them a better perception of your company and make them feel more like a valued customer.

Focus on sharing content that naturally creates conversation. Some of those ways are to:

• Give shout-outs to other companies you network and work with.
• Solicit feedback about your products.
• Ask open ended questions, then let the audience reply to get them actively involved.

3. Learn How To Connect With Your Audience Through Social Listening

Social listening is the act of monitoring social conversations around certain topics. It helps you understand what’s important to your audience and identify trends your target audience is following.

You’ll learn about what they’re struggling with, which can help you create content addressing those pain points.

You can also identify the tone and language that your target audience uses.

Take a look at Burger King on Twitter. They use the same slang that the younger audience on Twitter uses to represent themselves in a comedic fashion. If you’re unsure how to match the tone and style of your audience, social listening can help.

Tip: Make it a part of your daily routine to do some social listening and see what people are saying in your industry. If you want to take your social listening to the next level, check out Mention (the same social listening tool used by the CoSchedule team).

Product design and promotional strategies- Blog

Unit of Competency:	BSBCUS402 – Address Customer Needs
PY Topic:	3- Customer Service
Workplace Task:	Online Task 1  - Promotional Strategies
Educational Technology Tool	Blog
Employability Skills:	Communication ☒ Innovation ☒ Digital Literacy ☒ Technical Skills ☐ Teamwork ☐ Time Management ☒ Interpersonal Skills ☐ Leadership ☐ Problem Solving ☒ Entrepreneurship ☒ Working with Diversity ☐ Decision Making ☒ Critical Thinking ☒
Individual Task	Intermediate
Time Commenced	3:00 pm
Time Completed	4:00 pm

Instructions to Student:  

Time Allocated: 2 hours

Background:

Topic 3.1 Assessment on Customer Service asks you to write a report on customer service. This online task will assist you in identifying what promotional strategies are and how companies align them to their customer’s needs. Completing this task will better prepare you for writing the customer service report 3.1 with particular attention to Qs 2& 3.

Task: This is an individual task

Visit one of your favourite retail stores (Myer, David Jones, Coles etc) and pick a product (this could be an iPhone, a laptop, beauty product, or food product i.e. McDonald’s or Coke) and consider your response to the following questions:

1.      How does the company create awareness of its product?

2.      How does the company get consumers to try its product?

3.      How does the company give information about the product to its customer?

4.      How does the company retain loyal customers?

5.      How does the company entice the customer to buy more and use their product frequently?

6.      What promotions does the company use to identify more customers?

Critically reflect on the promotional strategies the company uses to market your chosen product. Write a 400-word blog incorporating an image/and or video capturing your responses to the above questions.

The blog you create in this task can be used as content when you build your online ePortfolio.

What is promotion?

Promotion is an attempt by marketers to inform, persuade, or remind consumers and B2B users to influence their opinion or elicit a response. Most firms use some form of promotion. Because company goals vary widely, so do promotional strategies. The goal is to stimulate action from the people or organizations of a target market. In a profit-oriented firm, the desired action is for the consumer to buy the promoted item. Mrs. Smith’s, for instance, wants people to buy more frozen pies. Not-for-profit organizations seek a variety of actions with their promotions. They tell us not to litter, to buckle up, to join the military, or to attend the ballet. (These are examples of products that are ideas marketed to specific target markets.)

Extract taken from https://opentextbc.ca/businessopenstax/chapter/promotion-strategy/

Areas of research

https://smallbusiness.chron.com/top-ten-promotional-strategies-10193.html

https://blog.bannersnack.com/marketing-promotion-strategies/

https://www.smallbusiness.wa.gov.au/business-advice/marketing/marketing-and-promotion-strategies

https://opentextbc.ca/businessopenstax/chapter/promotion-strategy/

BLOG

A promotion the strategy is defined by the plan and tactics you implement in your marketing plan, in order to increase the demand for your product or service. Promotion strategies play a vital role in the mix of marketing (product, price, placement & promotion). NIKE is an American multinational corporation. Nike has built a global brand off strategically advertising, promoting and sponsoring their product throughout many media channels. They can be seen anywhere from the Olympics to a sitcom commercial to a high school sporting event. They have established themselves in the upper echelon of sporting goods and athletic clothing. Nike has used pull marketing to establish a connection between the brand and potential customers. One of their best pull methods is their logo known as “swoosh”. When people see the “swoosh,” it’s directly identifiable to the brand.

As the marketing landscape has changed since the 70s, so has the Nike marketing strategy. In fact, it’s remarkable how well the brand has adapted its approach to new trends and technologies without losing the core of their identity or brand voice. It’s key to understand that while their general aesthetic and tactics have changed with the times, their customer-centric messaging has remained consistent.

Nike has given its customers a reason to want to come back to their website every day and engage, engage with Nike, engage with their friends. Everyone gets added value, the customers get something that helps them with their fitness regime and help them interact with friends, while Nike gets valuable information about how customers are using its products. Not every company has the type of access Nike has with its customers. However, when you can’t go to where your customer is physical, you can go there digitally. Brands must combine people, processes and, most importantly, technology, to achieve the scalability they need to reach and connect with consumers globally. Whether it is a direct-to-consumer model or wholesale, technology can enable two-way conversations that generate actionable data, regardless of borders and cultural differences.

 

Nike believes building and retaining customer trust comprises two intertwined capabilities: the intent to act in the customer’s best interest and the competence to do so. These come together to form the foundation of the customer experience. The ability to create a customer experience that builds trust begins with customer intelligence.

Nike’s sales promotions are usually in the form of special offers given to target customers. The company uses sales promotions to motivate new customers by giving additional benefits, such as the savings they can make by purchasing when discounts or special offers are applied. Sales promotions in Nike’s marketing communications mix drive demand from new customers by motivating them to purchase the company’s products on the basis of these perceived benefits. Time and again Nike has proven to be the best when it comes to satisfying consumers’ needs. Nike provides people with innovative and original products that others in the industry are not able to provide, Nike has shown that they are a true force to be reckoned with.

What are the advantages and limitations of conducting a Cost-Benefit Analysis?

A cost-benefit analysis can be a useful tool for decision-making, but the accuracy of a cost-benefit analysis is limited by the thoroughness of recognizing likely costs and benefits. If a business fails to recognize potential costs and benefits, it can cause poor results that lead to sub-optimal decisions

Simplicity

Cost-benefit analyses are advantageous because they simplify complex business decisions. Different business projects might entail vastly different types of expenses and details at a low level, but a cost-benefit analysis frames all projects in the same simple terms: total benefits, minus total costs, equals net benefit. 

Objectivity

Another benefit of a cost-benefit analysis is that it provides an objective way to compare projects. Business owners who are emotionally attached to or have time invested in certain projects may be predisposed to pursue those projects, even if there are better options available.

Considerations

A cost-benefit analysis can be a useful tool for decision-making, but the accuracy of a cost-benefit analysis is limited by the thoroughness of recognizing likely costs and benefits. If a business fails to recognize potential costs and benefits, it can cause poor results that lead to sub-optimal decisions. For example, if a factory fails to account for the environmental impact of its operations as a cost, it could lead it toward projects that create more pollution, which might be bad for society and hurt the company's reputation.

      

Giving their advantages and disadvantages, should the Cost-Benefit Analysis be carried out in every organisation? In answering this question, provide a brief explanation of the significant advantages for the organisations.

Yes, it should be carried out in every organisation.

Disadvantages:

1. Potential Inaccuracies in Identifying and Quantifying Costs and Benefits

Cost-Benefit analysis requires that all costs and benefits be identified and appropriately quantified. Unfortunately, human error often results in common cost-benefit analysis errors such as accidentally omitting certain costs and benefits due to the inability to forecast indirect causal relationships. Additionally, the ambiguity and uncertainty involved in quantifying and assigning a monetary value to intangible items lead to inaccurate cost-benefit analysis. These two tendencies lead to inaccurate analyses, which can lead to increased risk and inefficient decision-making.

2. Increased Subjectivity for Intangible Costs and Benefits

Another disadvantage of the cost-benefit analysis is the amount of subjectivity involved when identifying, quantifying, and estimating different costs and benefits

Benefit for an organisation:

A cost-benefit analysis (also known as a benefit-cost analysis) is a process by which organizations can analyze decisions, systems or projects, or determine a value for intangibles. The model is built by identifying the benefits of action as well as the associated costs and subtracting the costs from benefits