This PowerPoint explains the impact of social media on business. Topics discussed include: 4E Framework of marketing, the wheel of social media engagement, and different types of social media and mobile apps.
2. The Impact of Social Media
on Business
Presentation by Caylin BeLow
3. Social Media is a variety of different
platforms that users can use to communicate
through and create online groups that share
information, ideas and other content such as
videos and pictures.
Apps, blogs and videos are examples of
different social media tools that allow people
to communicate online with each other.
What Is Social Media?
4. When implementing 4E framework,
marketers should aim to: excite
customers with relevant offers; educate
them about the offering; help them
experience products, whether directly
or indirectly; and give them an
opportunity to engage.
● Excite
● Educate
● Experience
● Engage
4E Framework of
Social Media
Marketing
5. The Wheel of Social Media
Engagement
The Information Effect The Connected Effect
The Network EffectThe Dynamic Effect
6. The Information
Effect
The Information Effect is when
firms or individuals use digital
marketing to deliver relevant
information to other members
of their social network.
Information is key to
turning the wheel of
social media engagement,
whether it be funny,
informative, or
surprising.
7. The Connected
Effect
People connect by sharing all sorts of
information on social media, whether
they’re posting about their day on
facebook, or uploading photos of their
vacation on instagram.
The Connected Effect is the use
of social media in order to
satisfy our innate need to be
connected to other humans.
8. The Network
Effect
Ultimately, the credibility and influence
of the original poster and their choice of
network partners that share the post
will determine how strong the influence
will be for that post.
The Network Effect happens every time a firm
or person posts information, which is then
transferred to that person’s vast connection
across social media, causing the information
to spread rapidly throughout specific
platforms.
9. The Dynamic
Effect
The dynamic aspect of social
media is a great way to gather
information or to resolve
conflict, and can provide a
firm with insights on how to
provide the best product or
service in the future.
The Dynamic Effect of social media
engagement describes the way in
which information is exchanged to
network participants through
communications in an active and
effective manner.
10. Types of Social Media
Social Networking Sites Media Sharing Sites
Thought Sharing Sites
People can take advantage of social media in order to promote their
product or service.
11. Mobile Apps
As mobile users increase in number
and diversity, the applications
developed to appeal to them are
spreading as well. Although there are
well over a million apps, they meet
seven basic customer motivations: for
“me time,” and to socialize, shop,
accomplish, prepare, discover, and
self-express.
When choosing how to charge for apps,
firms have four options:
● Ad Supported
● Freemium
● Paid Apps
● Paid Apps with-in app purchase
12. Ad Supported Freemium
● Free to download, but
ads appear on screen
● Generates revenue while
user interacts with app
● Free to download, but
include in-app
purchases that enable
user to enhance the
game
13. Paid Apps
Paid Apps With-in
app purchase
● Charge the customer up
front price to download
the app, but offer full
functionality once
downloaded
● Require the consumer to
pay initially to download
the app, and then offer
the ability to buy
additional functionality
14. Lastly...
Firms can interact with customers through social media using a three step
process:
● First, they listen to the customer using techniques like sentiment analysis.
● Second, they analyze the data collected in the first step using metrics like the
bounce rate, click paths, and conversion rates.
● Third, they use this information to develop tactics to engage their customers.
