Unit Number 46: Social Media Practices Assignment Sample

Role of social media in boosting brand awareness, engaging customers, and achieving business objectives through strategic planning and metrics analysis.

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Introduction of Social Media Practices Assignment

Social media is the most powerful marketing tools across world right now, it refers to the interactions among people who created, exchange information, and share ideas in virtual societies and networks. With help of these everyone can share their opinions with a large number of people very easily (Hinton and Hjorth, 2019). Person following social media must know that it is gradually updating itself, but some basic concepts always stay the same. A study conducted shows that companies use social media to achieve various objectives and goals for business-like growth of annual sales. The report considering the Cultural factors which have a great influence over social media whether it is intercultural factors or international culture factors.A social media strategy involves social media objectives and goals that accompaniment the business's all-over marketing strategy will be discussed for the better understanding of the research topic.Aims and objectives behind every social media strategy are discussed in the section 2 of the report with the help of case company Hello Fresh. In this report 16 social media metrics are included to appreciate the performance of social media strategy.

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Section 1

LO1.

P1 Key concepts of social media for businesses

The key concepts of social media which help business to grow are as follows:

  • Encouraging content - companies upload user-generated content that is any kind of content like images, videos, reviews, etc. which is created by the marketing team for promoting their brand among the public. Business hires popular influencers for creating content regarding their product or services which helps in promoting and creating the brand value of the business.
  • Improved Brand Awareness - increasing the business's brand awareness and visibility is not the toughest task to do because every business has the power of social media which helps business to reach out to every customer very easily and quickly. A single post on any social media website has the power to attract thousands of audience in one go, the more the business is engaged in using social media more they get close to the audience (Alves al. 2016). Social media helps in boosting brand awareness and increase potential sales for the business.
  • Cost-effective - social media is very cost-effective as at starting level individual or business is required to just create an account or sign in for almost all social media platforms at no cost. Business can spend their estimated budget on paid advertising and promotional activities they like. It is very convenient and easy for all businesses to get on social media platforms as the business can use its marketing strategy for this. These platforms are financially savvier for the companies.
  • Engage with Your Customers - social media is a place for attracting and interacting with the target customers of the company. Whether through a conversation, advertisements, a post, etc. social media's key concept is to attract customers for that it has several methods which further help in improving the brand value of the business. It also helps in collecting feedback from customers and building loyalty amongst customers which is very helpful in engaging the customers.
  • Customer’s satisfaction - according to a report around 71% of customers recommend a brand to others if they have a good experience or the product is attractive to them, on the social media platform (Evans al. 2021). With help of social media companies can easily collect feedback from their customers, with help of which they can make a strategy to improve the product and service. Feedback is the symbol of customer satisfaction which shows the pros and cons of the product and also about the company.

P2 The influence of businesses and cultural factors on the development of social media

Business factors: All the factors support company procedures and objectives which comprise customer relationship management, market research, customer retention, and customer expansion (Tajvidi and Karami, 2021). The business factors that have a great influence on social media are as follows:

  • Business intellect – it syndicatesdata mining, business analytics, visualization, data tools, and structure to support organizations to take data-driven decisions regarding their business. In modern business social media plays a vital role as all the data that is used in deciding for an organization is influenced by social media.
  • E-commerce – is the platform where businesses can buy and sell their goods and services, and transmit their data and funds with help of an electronic network. Social media is very important role in promoting an e-commerce store or website of the company.
  • Social media marketing – it is a powerful tool for every business to influence its customers and goals. People discover, follows, learn, and shop from various website which is available on Instagram, LinkedIn, etc (Siddiqui and Singh, 2016).

Cultural factors: Social media has an important role in influencing the culture of business, following are the key factors:

  • Digital interaction – refers to communication access to any service through systems and devices. It has brought a big change as it has fully replaced face-to-face contact, which aims at investing in the quality and innovation of companies services. It is not a one business’s activity it is a central connection by which the companies related systematically and combines their activities, resources, and knowledge with others (Akram and Kumar, 2017).
  • Digital culture – it is a workplace formed and influenced by various technologies and digital tools. All the companies with progressive digital cultures use digital technologies to cooperate, innovate and suggest their customers admittance to services and products. Digital culture allows a business to grow, enhance and innovate its customer needs.

Evaluate the role of social media between businesses and consumers

To establish a good relationship with the customer business make use of social CRM which refers to social (CRM) customer relationship management, which is an incorporation of social media channels between the business and customer relationship. In business, there is an increase in CRM platforms that supports social media with outdated channels so that customers can interrelate with the business through favored channels (Elena, 2016). All these results in better's customer services and also good marketing from the collected customer's social media data. For building a good relationship between the customers and business social CRM plays an important role, as it helps in generating more leads that result from satisfied and happy customers. the key benefits of social CRM in business are as follows:

  • Involve and interrelates with the customers in real-time
  • Deliver customer support on online platforms.
  • Helps in resolving issues fast by monitoring complaints via social media platforms (Dewnarain al. 2019)
  • Get the great acquaintance at those places where audiences spend their time
  • Helps in increasing involvement and relationship with the customers.

LO2.

P3 Social media platforms

Social media platforms like Facebook, Twitter, Linkedin helps the business in many ways by engaging with the customers and finding out the what are the needs and demands of customers, promotion, purposesand advertising. The use of social media platforms for different communication objectives like social networking, brand building, segmentation, B2C and C2C of a business is as follows:

  • Attracting customers, collecting their feedback, and building loyalty among customers.
  • Helps in increasing the market reach of the business for the brand building.
  • By building customer networks and advertisements businesses through effective segmentation which can increase revenue.
  • Helps in enhance brand value and increases the visibility of business which further helps in C2C network.
  • Has an important role in promoting the products and services of a business
  • Drive sales of the business and increase the revenue of the company.

P4 The impacts of different forms of social media on brand awareness

Brand awareness is defined as the strength of the brand present in the customer's mind, the customer can identify or remember the product in a group. It involves image-making, the outline of the products, conditions, awareness, characteristics of products, and symbols. It is connected with the strong association created by the specific brand image in the market (Bilgin, 2018).

Evaluating different social media platforms

  • Instagram -Instagram is known for its overnight success as within two months of launch in 2010 Instagram had over million users. The app has blended into the personal and professional life of every individual, as it has surpassed 1 million users (Instagram, 2016). It is great for that business which are have or looking to attract young audiences. Businesses can use Instagram by making it part of their content marketing strategy if the business is targeting an audience under the age of 45.
  • YouTube -YouTube is the second most popular online platform right after its parent company Google. It is incredibly noticed that businesses prefer promotion through videos or brand tutorials on YouTube (Zhou al. 2021). If the business benefits from producing tutorials, content related to instructions, and reviews of products or services then it is the best platform, especially if the pay is attaining around 2 million monthly. It attracts an audience that is mostly under 45 and the business is related to education, entertainment or content creation, etc.
  • Facebook - Facebook is the major and the utmost popular social media platform used all across global, with nearly 3 billion users every month. It is the best platform for business to promote their products and services, interact with clients, pose questions, and can provide a personalized experience to the customers (Barnard al. 2017). Incorporating Facebook with the brand marketing strategy is the best method to reach out to the audience and also helps in creating an online community around the market.
  • Twitter – its monthly active users are increasing constantly estimated at around 345 million, of which around 40% are constantly active on the site on daily basis. The popularity of these social media platforms is highest among users who are tech-savvy and this platform is more popular among B2B verticals which are related to politics, marketing, and business (Cripps al. 2020). Business who has an audience under the age group of 30-60 can use this social media platform.
  • LinkedIn-it has around 810 million users all across the world, it is a professional social media platform that has created its position as a top-tier search engine for job opportunities, career advancement, and brand connections all over the market (Quinton and Wilson, 2016). It is a factor that is fully into brand marketing strategy, it attracts potential customers which are looking for new opportunities in the market.

Critically analyses how social media promotes business aim

Social media is very useful for every organization as it helps promote products and services on online platforms. Social media is an effective path to influence customers with engaging content. There are several ways in which social media is used by different organizations in the development and promotion the business aims.

  1. Getting Attention and Building Awareness- social media helps in boosting prominence among likely customers and helps in reaching a wide audience by utilizing lots of time and effort. And on social media, companies are free to create their business profile on all the major social networking sites (Ahmad al. 2017)
  2. Helps in showing authenticity–social media let organizations shine in every post they share on social media. Social media helps an organization to show, what its brand voice sounds like. How does it represent the public? it is very important to find a voice and take a stand in the market.
  3. Encourage engagement - social mediahelps in opening the conversation for immediate interaction, the loyalty of the customer, and relationship building with the new audience (Charoensukmongkol and Sasatanun, 2017). Significantly, companies have the correct organizational structure to supporttheir social media activities. Customer support and a product development team leads towards extremely effective results with the help of social media.

LO3

Section 2

Social media planning of Hello fresh

A social media strategy is asummary of the content that every business posts on social media platforms. This strategy is the accountability of the social media channels and the social media team that the business is using for promotion (Mills and Plangger, 2015).

P5 Aims and objectives for the social media strategy of Hello fresh

Every family will receive wholesome, home-cooked meals from Hello Fresh in all of its active markets, eliminating the need for food shopping and making it simple to utilise (Choudhary, 2019). Every item needed by consumers to cook delectable meals is thoughtfully planned, carefully sourced, and then delivered to every customer's doorstep at the most convenient moment for them. Hello, Fresh is committed to changing the way prepared foods are delivered to clients, starting with how they are made by professional chefs and served. Assisting the shoppers by making the each meal more affordable for saving clients money on their meals will enables everyone to enjoy a variety of delicious dishes. Hello fresh works on reducing food waste and each box's carbon neutrality for the healthier environment.

Aims and objectives behind every social media strategy that helps the company are as follows:

  • Setting goals – a social media strategy helps in establishing vibrant goals and expectations for the business by applying social media marketing efforts. Whether the company aims at increasing brand awareness among the customers, launching or rebranding products or campaigns, various promotional events, etc social media strategy offers a plan or proposal to the team to track to achieve goals.
  • Monitoring performance – setting goals is not enough, it requires tracking how work is progressing toward goals. A social media strategy helps in establishing a key performance indicator that can monitor the progress of a business (Atherton, 2019).
  • Benchmarking goals over time - the social media marketing strategy permits the business to track social media metrics and also examine the present social media performance of the business as compared to the industry standards.

P6 Creation scheduling of social media planning for Hellofresh

HelloFresh is a public trading meal kit company located in Berlin, Germany. It is one of the most popular and largest meal-kit workers in the US and also in Canada, New Zealand, Europe, Italy, France,Australia, and Japan. The company is been listed on the Frankfurt Stock Exchange since 2017.

The social media strategy for hellofresh is as follows:

Step 1: Define target audience – hello fresh target audience is young families who focus on easy availability, people who value cooking as an expense, and empty nesters who want to break out for a cooking groove.

Step 2: Blogging – creating fresh blogs is part of the social media strategy, as excites the buyer to buy the product.

Step 3: focus on key social channels – the company needs to focus on social channels on which they are promoting their products like hellofresh is engaging with various influencers on Instagram which helps the company to attract customers.

Step 4: Develop a guide – creating a guide is a posting and engagement schedule that helps in keeping up the teamwork on track and also helps in posting new content.

Step 5: measuring results – in this step company is required to measure the traffic on the social accounts on the website or blog. There are various tools that a company can use to measure the results of a particular post or blog.

Current Social media technology and toolsused by company to meet its customer needs

There are various techniques and tools which the company Hello fresh can use in its social media strategy like

  • Social networking – it is the most traditional method of social media, it includes platforms like Facebook, Twitter, and LinkedIn which are also known as networking platforms.
  • Photo sharing – two major platforms that are popular for this are Instagram and Pinterest. They offer a visual feed with posts showing videos and photos which are followed by captions. And Pinterest is similar to Instagram offers photos and feeds (Batrinca and Treleaven, 2015).

The company hellofresh is using this social media technology for promoting its products and attracting its customers:

  • Influencer strategy - Hellofresh is using an influencer strategy to promote its products, the influencer strategy refers to the strategy in which the company uses various social media influencers to use their products and mention them in their Instagram post by tagging them along the blog or post (Katte, 2019).
  • IDG advertising – hellofresh is advertising its brand with the help of IDG advertising. The advertising is helping the company to utilize the digital space for growth, expansion, and innovation.
  • Twitter – it is one of the main channels of social media, the company post throughout the day to attract an audience. It helps the company to build a direct connection with its customers.

P7 Social media plan, including content creation scheduling, and monitoring

For analysis of the social media Strategy Company can follow these steps:

  • Identifying social media competitors of the company
  • Collect data that is related to the company by using various analyses like Twitter competitive analysis and Instagram competitive analysis
  • Analyze competitor's activity in the market, and briefly analyze how the competitors use social media platforms (Kirá?ová and Pavlí?eka, 2015).
  • Step up the company's competitive analysis by using various templates, company can identify the top competitors and happen across the social market.
  • Using the data collected will help to compare the company's profile to its competitors, and by that company can make suitable improvements in its social media strategy.

Social media metrics

These are the data opinions that reflect how fine the social media strategy is carrying out. These metrics help in understanding everything from how many people are seeing the content on the website and how much money is earned from social media (Poeczeet. al. 2018).

  • Reach
  • Impressions
  • Audience growth rate
  • Engagement Rate
  • Amplification rate
  • Virality rate
  • Video views
  • Video completion rate
  • Customer satisfaction (CSAT) score
  • Net promoter score (NPS)
  • Click-through rate (CTR)
  • Conversion rate
  • Cost-per-click (CPC)
  • Cost per thousand impressions (CPM)
  • Social share of voice (SSoV)
  • Social sentiment

P8 Present a social media plan that communicates the way in which it meets customer and client needs

The company is using an effective social media strategy supporting the aims and objectives for Hello fresh are:

  • The use of Twitter for building effective social networking among customers for brand awareness and to share the new product launch and working of the Hello Fresh.
  • The photo-sharing methods are used by HelloFresh for the visual feed which helps in attractingmore and more customers from different regions for the segmentation of target market of the company.
  • Influencer marketing for the promotion of the products on social media which highly impacts the customer buying decision.
  • Advertisements through IDG for the better utilization of digital space through technological advancements.

Conclusion

The report concluded the importance of social media in the development and growth of the business. Section 1 in the report develops a detail understanding of social media, every company is required to prepare social media strategy as it helps the business to do interactions among people who created, exchange information andshare ideas in virtual societies and systems, which further helps in the development of business. As concluded from the report various social media platforms are useful for business to promote their products and services and enhance their network worldwide. Section 2 in the report talks about the social media strategy of the case company Hellofresh, which is a meal-kit company. The report describes various tools, technology, and metrics that the company can use for preparing an effective social media strategy.

Reference

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