Social media

What is social media ?

Some notes about Social media:

Social media has become a Primary tool for higher Levels of fan Engagement, directly driving lead Generation through interaction and Content sharing that is especially relevant to media companies.
- Johni Fischer, CEO, Loopa

Social Media, Social Web or also called Web 2.0 make it easy for People to create and publish Content, to share ideas, to vote on them and to recommend things to other. Customers share trough Social web their own experiences with brands, products and Services to provide a more credible view.


Examples:

yelp.com- Rating Restaurants, Service Providers, Hotels etc.
tripadvisor - Rating Hotels, Airlines, sights
Facebook - has over 900 Million active user; 80% of US companies have a Facebook page
Twitter
Instagram


The social Feedback Cycle

Evans explained the classic purchase funnel with the social Feedback cycle. Nowadays conumser search for digital word of mouth to make smart choices.

How to implement social media strategy?

Evans says that Engagement of the Stakeholders and customers on the social web is important. This means that stakeholders and customers become participants instead of Viewers. Engagement means that your customers are willing to talk to you and as well about you. Engagement is really fundamental to succesful  social Marketing. Customers have taken a personal interest in what you are bringing to the market.


The Engagement Process
Evans describes the Engagement process as activities in which the customers, stakeholders and employees get connected with Company.

Consumption, as used in the context of social media, means downloading, reading, watching or listening to digital Content of the Company.

Curation is the act of sorting and filtering, Rating, reviewing and commenting. Curation make Content more useful to others. Reviews become truly important when they can be placed into the interest of the Person reading them. Reviews are likely to be more useful and as a result a better informed consumer and better  future Review which leads to better future decisions and increases future satisafaction.

Creation means that the user create something in Connection with the Company by themselves. For example when a Company publishes a photo contest where customers have to upload a Picture with the product of the Company and the best one wins something. People like to share what they are doing.

Collaboration
Blogging is a good example for collaboration.Bloggers often adapt their product based on the Inputs of the audience. A Company can easily Profit from Blogging: taking direct Input from a customer and using it in the design of your product. Nowadays Blogging is so important , every month 1 Million Blogs come online.

How can social media help your Business?

Facebook has 900 Million active users.
77% of consumers said that they interact with a brand via Facebook-.
77% of marketers acquire customers through Facebook
53% of users recommend products in their tweets.
90% of consumers trust peer recommendations. Only 14% trusts advertisment.
63% of businesses using social media Report improved Marketing results.

Source: https://www.youtube.com/watch?v=DYedZth9ArM


81% of B2B companies have accounts on social media site.

Source: https://www.youtube.com/watch?v=yDA864UskXc