social media marketing for corporates
TRANSCRIPT
Social Media Marketing:The changing Corporate perspective &
The factors responsible for User satisfaction
Gaurav Mehrotra
Table of ContentsA glance at the contents of the presentation
These are the topics that will be covered during this presentation
Introduction
Research Problem
Theoretical Model for the research
Hypothesis generated from the model
Research Methodology
Company Survey Results
User Survey Results
Conclusion and Discussion- Companies
Conclusion and Discussion- Users
Introduction & Research Problem
IntroductionThe need for understanding how Social Media is impacting marketing
Let us look at the various factors that help in the surging popularity of the Social Media platforms
Social Media helps you reach a wide audience
Billions of people are connected through Social Media worldwide in one form or another
Social Media provides an all-round automatic feedback and review
Social Media provides better connectivity to the users
Minimal investment marketing is required
People get connected at a very early age, so it is easier to attract them through offers and entertainment
Smartphones provide round the clock connectivity and applications
The applications can be configured to the needs of the consumers
Product placement through Social Media is easy
Relevance of social media – you become what you share
Users desire to be part of community and move beyond isolation
Research ProblemThe understanding of the research at hand
► From the empirical investigation this paper would recommend how companies are developing a model based on theirobjectives to effectively use social media as an IMC tool
► The research would then go on to discuss the perspective of various corporate houses and the everyday users, theimportance of social media as a communication tool and what are the advantages companies might get upon using it
► Based on these perspectives, the paper will focus on these issues: What are the various ways in which corporate houses use Social Media and what are the probable future media
platforms, trends and uses? What are the various factors that lead to users/viewers being satisfied from a social media page? Across the various categories defined on the basis of Gender, Social Media usage and Smart Phone Usage, which
of these factors contribute the most to the satisfaction of these users?
Theoretical Model
Theoretical ModelDevising a model that will help us create a base for the research
Information Quality
Product Related Learning
Economic Benefits
Collaboration & Interactivity
Social Presence
Entertainment
Realising utility & gaining satisfaction from brand on SNS
Gender Smart
PhonesUsage
MODERATING VARIABLES
INDEPENDENT VARIABLES DEPENDENT VARIABLES
Hypothesis generated from the modelThe primary analysis from a user’s perspective on the basis of the model
These hypothesis acted as the background to the research that was conducted
Information Quality positively affects the satisfaction of the user from the brand page/profile
Product Related Learning positively affects the satisfaction of the user from the brand page/profile
The Economic Benefits provided positively affects the satisfaction of the user from the brand page/profile
Collaboration and Interaction by the company representative positively affects the satisfaction of the user from the brand page/profile
If the brand page/profile provides the user with Social Presence, then it positively affects the satisfaction of the user from the brand page/profile
The amount of entertainment provided through the profile/page positively affects the user satisfaction level from the profile/page.
Research Methodology
Research MethodologyQuestionnaire development for the Companies
The primary motives from a company’s perspective
Primary objectives for being on social media
Amount and resources spent
If they are assessing the importance of Smart Phones
Key challenges for starting on a Social Media platform
Amount of interaction required with the users
Do they have a/Are they going to launch a Social Media strategy?
Average time spent before starting on a Social Media platform
Integration of Social Media with other modes of IMC
How to measure the impact of Social Media on their business?
Research Methodology (contd.)Questionnaire development for the Users on the basis of the Hypothesis
The primary motives from a user’s perspective
Information Quality positively affects the satisfaction of the user from the brand page/profile
Product Related Learning positively affects the satisfaction of the user from the brand page/profile
The Economic Benefits provided positively affects the satisfaction of the user from the brand page/profile
Collaboration and Interaction by the company representative positively affects the satisfaction of the user from the brand page/profile
If the brand page/profile provides the user with Social Presence, then it positively affects the satisfaction of the user from the brand page/profile
The amount of entertainment provided through the profile/page positively affects the user satisfaction level from the profile/page
Company Survey Results
Company Survey ResultsSummary of the results from the survey sent out to the companies
Category Frequency
Social Media that the companies are using
FacebookTwitterLinkedInGoogle+YouTubeInstagramBlogPinterest
22131379582
Primary objectives of being on Social Media
Increasing Brand Awareness
Engaging the Customer
Building a Community
Reputation Management
Customer Service
Research
Hiring
16141511757
Key challenges faced by the brand
Measuring EffectivenessCustomer ServiceSocial Media Policy and GovernanceResponse ManagementContent CreationSustain/Increase Engagement RateAcquiring the right target groupsAcquiring fans and followersBudget allocation
12448118763
Category Frequency
New activities initiated Setting up a new In-House Social Media team
Launch a 360 degree integrated campaign
Launch a Social Media exclusive campaign
Introduced the brand on a new Social Media platform
Introduced a Social Media monitoring tool
Initiated Social Media CRM efforts
9
7
9
4
7
5
Investment reasons What competitors are doingCustomer InsightMarket TrendsAlready allocated budget
36124
Current Measurements Engagement with the usersSocial ReachVisitor FrequencyVisitor Growth RatesBrand SentimentsBrand mentionsShare of VoiceShare of Total visitors for the industry
1168115633
Business Metrics Leads
Conversions
Sales
Customer Service Cost
Customer Acquisition Cost
ROI
9
6
6
4
2
4
Company Survey Results (contd. -2)Summary of the results from the survey sent out to the companies
11
3
6
2
Budget of Companies
0-5% 6-10% 11-20% More than 20
4
14
4
Companies on Mobile Apps
Yes No Under Process
50% of the companies surveyed have an overall marketingbudget of 0-5%, whereas 27.3% companies have a marketingbudget between 11-20%. 13.6% of the companies surveyed havea marketing budget in range of 6-10% while 9.1% of thecompanies have more than 20% of marketing budget
63.6% of the companies surveyed didn’t have Mobile Appswhile 18.2% have Mobile Apps. The remaining 18.2%companies are under process of developing Mobile Apps
Company Survey Results (contd. -3)Summary of the results from the survey sent out to the companies
59.1% of the companies surveyed employ exclusively for SocialMedia campaign teams while the remaining 40.9% don’t.However, as an additional comment, few comments suggestedthat they were planning to create exclusive teams in the nearbyfuture
36.7% of the companies have multiple posts daily, 18.2% of thecompanies have 1 post daily, 18.2% have 1 post per week, 9.1%have 2-3 posts daily and remaining 17.8% have no set timefrequency
9
13
Exclusivity of team
Yes No
8
4
4
2
4
Frequency of posts
Multiple posts daily 1 Post Daily 1 post per week
2-3 posts a week No time frequency set
Company Survey Results (contd. -4)Summary of the results from the survey sent out to the companies
27.3% of the companies have a response time of less than anhour, 27.3% have 1-3 hours, 13.7% have 3-5 hours, 4.5% take 5-10 hours, 22.7% do it within a day, while 4.5% do it after a day
50% of the companies surveyed have not Linked Social mediastrategy to Business Goals but they have a strategic take totheir Social Media strategies, while 13.6% are the frontrunnershaving a strategic plan for Social Media linked to their BusinessGoals, whereas the remaining 36.3% are working on it
6
63
1
5
2
Time Taken
Within an hour 1-3 hours 3-5 hours 5-10 hours Within a day After a day
3
11
8
Strategic take
Yes- Not linked to Business Goals Yes- Linked to Business Goals
No- But we are working on one
Company Survey Results (contd. -5)Summary of the results from the survey sent out to the companies
72.7% of the companies involved Marketing department, 36.4%involved PR department, 27.3% involved both HR and CustomerServices department, 9% involved Legal, 18% involved Sales and32% involved the IT department for the overall working of theSocial Media platforms
41% of the companies surveyed said that Recruitment is themain reason, apart from connecting with customers, for usingsocial Media. 4.5% opted for Internal Communications. 9%responded with CSR as their option. 27.3% replied ThoughtLeadership as their reason for using Social Media apart frominteracting with their day-to-day customers
16
86
6
2
4
7
Departments Involved
Marketing PR HR Customer Services Legal Sales IT
9
12
6
4
Reasons apart from Connecting with Customers
Recruitment Internal Communications CSR Thought Leadership None
Company Survey Results (contd. -6)Summary of the results from the survey sent out to the companies
User Survey Results
Category Frequency
Gender Female
Male
193 (40.29%)
286 (59.71%)
Age <20
21-25
26-30
30>
15 (3.13%)
281 (58.66%)
170 (35.49%)
13 (2.71%)
Social Media
Application Usage
YouTube
Google+
Blog
FourSquare
320 (66.81%)
209 (43.63%)
231 (48.23%)
274 (57.20%)
131 (27.35%)
174 (36.33%)
93 (19.42%)
99 (20.67%)
62 (12.94%)
Usage Frequency Light Users
<30 minutes
30-60 minutes
1-3 hours
Heavy Users
3-5 hours
5 hours>
83 (17.33%)
110 (22.96%)
141 (29.44%)
100 (20.88%)
45 (9.39%)
User Survey Results Summary of the results from the survey sent out to the users
Category FrequencySmart Phone Usage Light Users
<10%
10-25%
26-50%
Heavy Users
50%>
98 (20.46%)
57 (11.90%)
138 (28.81%)
186 (38.83%)
Reasons for using
Social Media
Social Interaction
Information Seeking
Leisure Time Spending
Entertainment
Relaxation
Expression of Opinion
Meeting New People
Things to Talk About
Convenience
Dating
223 (46.56%)
235 (49.06%)
260 (54.28%)
288 (60.13%)
227 (47.39%)
193 (40.29%)
157 (32.78%)
160 (33.40%)
136 (28.38%)
90 (18.79%)
Brand Engagement
measure through
profile/page visits
Highly level of engagement
Multiple times a day
Once a day
Once every 2-3 days
Once a week
Low level of engagement
Once a month
Not visiting them, but merely reading the updates through news feed
67 (13.99%)
118 (24.63%)
68 (14.20%)
110 (22.96%)
41 (8.56%)
75 (15.66%)
User Survey Results (contd. -2)Summary of the results from the survey sent out to the users
All the values from the Model
Hypothesis Variables R SquaredSignificance (from the
Anova table)Constant B- coefficient
Economic Benefit 0.523 0.000 4.982 0.564
Information Quality 0.331 0.000 7.409 0.733
Product Learning 0.365 0.000 7.590 1.055
Collaboration & Interactivity 0.475 0.000 5.941 0.647
Social Presence 0.369 0.000 7.010 0.776
Entertainment 0.339 0.000 8.218 1.004
User Survey Results (contd. -3)Summary of the results from the survey sent out to the users
All the categories from the Model
Constructs Males FemalesSocial Media Light
UserSocial Media Heavy
UserSmart Phone Light
UserSmart Phone Heavy
User
Economic Benefit Fits Does Not Fits Fits Fits Fits Fits
Information Quality Fits Does Not Fits Does Not Fits Does Not Fits Fits Does Not Fits
Product Learning Fits Fits Fits Fits Fits Fits
Collaboration & Interactivity
Does Not Fits Fits Does Not Fits Fits Does Not Fits Fits
Social Presence Fits Does Not Fits Fits Fits Fits Does Not Fits
Entertainment Fits Fits Fits Does Not Fits Fits Fits
User Survey Results (contd. -4)Summary of the results from the survey sent out to the users
Conclusion and Discussion
Conclusion and Discussion- CompaniesThe key take-away from the analysis from the companies perspective
► Facebook is the primary platform that everyone is currently on, mainly due to the reach and popularity
► The primary objective of using Social media revolves around Increasing the Brand Awareness as well as engaging thecustomer and Building a community
► Companies face a lot of issues, primarily centring on Content Creation for their Social media platform, and in MeasuringEffectiveness of their campaigns
► Companies are bringing new initiatives like Setting up exclusive Social Media teams and Launching integrated SocialMedia campaigns
► The Current measurement metric still revolve primarily around engaging with the users and visitor growth rates
► Companies realise that they need to introduce tools for measuring the Social Media campaigns as well as look intoCustomer Relationship Management through Social Media platforms
► Teams are hampered by their marketing budgets, as 50% of the companies have allocated budgets of less than 5%
► Majority of the companies had an exclusive Social Media team, which might become a trend leading to higher budgetallocations
► More than 55% of the companies post at least once through their various Social Media platforms, and close to 54% ofthe companies responded to the customer enquiries within 3 hours
► 72% of the decisions are related to the Marketing department, with other departments making a sporadic appearanceas per their requirements
Conclusion and Discussion- UsersThe key take-away from the analysis from the users perspective
►We analysed the hypothesis for the response that was received from the data collection, and we were able to verifythat all of the independent variables contribute towards the satisfaction level of the users to a varying degree
► Amongst those, Product Learning and Entertainment are the two variables, which are able to keep the viewers on thewebpage more than any other variables
► However, in terms of bringing people on the webpage, it is Product Learning and Collaboration and Interactivity thatare viewed as better results provider and hence the company should focus on these factors to lure the viewers
► Product Learning is one variable which every category of user wants from the brand profile or page that they arefollowing
► Economic Benefits and Entertainment are two other factors which are considered as extremely important whiledesigning a webpage by everyone except for the Females and the Heavy Social Media Demographics, and hence canbecome an integral part of the webpages being designed
► Information Quality is a variable which is not favoured by any category except for the Males and Light Smart PhoneUsers
► Collaboration and Interactivity is not favoured by Males and both of the Light category users, which can probably beexplained by the fact that since they are spending lesser time on the webpages, they would require less collaborationfrom the administrators of the page
► Social Presence is the only variable across all of the categories, which if increased from its already present state, causeda decrement in the satisfaction level of the users
Thank You!