Leverage Social Media Business †Free Samples to Students

Question: Discuss about the Leverage Social Media Business. Answer: Introduction: Facebook is the organization that is very well known and popular among all the customers of all the ages. It is the company that has started its operation in 2004 by the man called Marks Zukerberg. It is a social networking site that provides various ranges of services to the customers in order to make connections with each other. Currently more than 2 billion people are on Facebook and Facebook has bought the many other famous sites and application s such as whatsapp and instagram etc. it is headquartered at California (Zaleski, 2017). It also acts the marketing platform or the various businesses but this also needs to make itself so that more and more business can use Facebook as the tool for marketing their products and services. For identifying the marketing strategies of the company, various methods have been used. All the methods are secondary research methods as the report focuses on the already existing marketing strategies of the company (Armstrong, Kotler, Harker and Brennan, 2015). Some of the methods used to conduct the research are: Online websites: the website of the company and many other authentic online sources and articled has been read in order to research about the topic. Survey: survey has been conducted among the people in whom the question has been asked that from where they got to know about Facebook. Interviews of marketing team of the company: marketing and sales team of the company has revealed some of the strategies. Marketing strategies of Facebook: Facebook has two types of audiences. It has been analysed that the first set of audience includes everyone ad the second set of audience includes the business people who advertise their products and service of Facebook (Treadaway and Smith, 2012). It has been analysed that various strategies has been used by Facebook in order to increase its customers base. Some of them are discussed below: Viral marketing: Viral marketing is the most traditional and the easiest way of marketing. It is the marketing technique that deals with word of mouth. This is the marketing strategy that helps the company to increase the customers awareness in both types of audiences but mainly it contributes in attracting the audiences of first type (Facebook Inc.., 2017). Facebook has the concept of making friends. When any on the individuals make his or her account on Facebook, he will definitely aske his friends or family to create account on it. This ultimately results in large customer base of the company automatically. It has been analysed that this strategy has been used by the company very efficiently and also resulted positively of the company (Vejacka, 2012). It is not the tool that has been intentionally used by the company but the concept of the social networking site is such that it forces the audience to ask other people to create their account of the same. Most of the businesses thes e days are also among their pages on this portal so that people can have a better knowledge about the small businesses especially (Holzner, 2008). Word of mouth is also a technique with large and fast reach. This is because the customers tell their friends and family to use the Facebook services one by one and thus is the cheapest way of marketing bout the brand. Direct marketing: It is also one of the marketing strategies that the company used in terms of enhancing its business. It is the technique for the business user who has their pages on the Facebook site. As the company operates in the industry that serves the market with the platform to create their ad campaigns so there are many innovative ideas that the company comes up now and then for advertising for the businesses (Shih, 2010). Thus Facebook post those ideas or provide invitation to those business owners whoa have their pages on Facebook to use new and innovative tools of marketing at Facebook. This implies the business user to use such tools so that they can enhance their business and marketing tactics. It has been analysed that Facebook tries to capture the market by posting their services on their portal only. This is because the customers Facebook already have their pages on Facebook. It also uses the tools to sort the data of the business professionals and try to showcase th eir services to them only (Ryan, 2016). Direct marketing allow the company to directly contact their customers without any interference of the mediators and thus the reach of the company is more effective in that case. Ad campaigns and sponsorships: it has been analysed that the company as focused upon ad campaign as well in order to market the products and services. The company has shown so much of interest in UK February campaign by spending a lot in it. This is because the company wants to position itself as the site for friends. It has always focussed in developing and maintaining relation with friends and family. Choice of third party to advertise the products or services is the very beneficial technique for the company. This is because it helps the company to build trust among the customers and also helps in brand image development of the company (Facebook - Home., 2017). The company has spent around 6m for advertising in the year of 2015 and this amount has increased year after year. It has been analysed that the company has followed the path of Google and apple by using the traditional sponsorship method in order to market its products. This is because, it has been analysed that sponsorship provides the company to reach through the larger audience and mass media technique helps the company to enhance its marketing range (Carrillat, dAstous, and Morissette Grgoire, 2014). All the above marketing strategies are used by the company in order to advertise their products and service offerings to the people who are already on Facebook. Conclusion: It has been concluded from the report that Facebook is the firm that is successfully operating in the social networking industry since 2004. It has been analysed that the company also uses some of the marketing strategies such as word of mouth or viral marketing, direct marketing and sponsorships and as campaigns in order to develop faster than the competitors. As the company serves the platform to the customers for marketing their products thus it has to be very proactive in marketing the new tools that has been created by the company now and then. As the company is developing new services day by day thus it is required by the company to market the products as well with different techniques. Recommendations: It has been identified that the company is already using some of the tools for, marketing and Facebook is such a big company that it does not need to promote its brand. It is just that the products or the services need to be promoted in the market. For this, Facebook can user more strategies such as print media techniques so as to reach the business users. This technique of posing ads in business magazines can helps the company to promote itself as the marketing platform and not just the social networking and chatting site. Referencing: Carrillat, F., dAstous, A. and Morissette Grgoire, E., 2014. Leveraging social media to enhance recruitment effectiveness: a Facebook experiment.Internet Research,24(4), pp.474-495. Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015.Marketing: an introduction. Pearson Education. Facebook - Home., 2017.Investor.fb.com. Retrieved 5 October 2017, from https://investor.fb.com/home/default.aspx Facebook Inc.., 2017.Nytimes.com. Retrieved 5 October 2017, from https://www.nytimes.com/topic/company/facebook-inc Holzner, S., 2008.Facebook marketing: leverage social media to grow your business. Pearson Education. Ryan, D., 2016.Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers. Shih, C., 2010.The Facebook era: Tapping online social networks to market, sell, and innovate. Pearson Education. Treadaway, C. and Smith, M., 2012.Facebook marketing: An hour a day. John Wiley Sons. Vejacka, M., 2012. Facebook advertising and its efficiency on the slovak market.E+ M Ekonomie a Management, (1), p.116. Zaleski, A. , 2017.The 'controversial' fare Facebook is feeding you.CNBC. Retrieved 5 October 2017, from https://www.cnbc.com/2015/04/14/facebook-stands-behind-its-controversial-ad-strategy.html