Essay on Social Media And The Ways It Promotes The Products
Key roles the key roles of social media are that products are available all the on websites so consumers can easily view complete product line all the time, can read reviews and check the ingredients, compare the prices and variety of products are available which gives a choice. Companies are adopting different social media tools to attract consumers to become familiar with the products and services that are offered. As modern technologies become available, businesses that master to adopt new technologies have tremendous benefits. Some of the well-known companies, for example, Microsoft and Google. In a limited span of time, social media has grown into one of the most used platforms for any business.
Social media: Traditional media
• Social media is making the customer feel like a community
• Social media is a two-way conversation.
• Social media is immediate • Traditional media does not make the customer feel like or connected to a community
• Traditional media are one-way.
• Traditional media will take some time due to press time.
Difference between social media marketing and traditional marketing
Social media is Growing Companies are using social media for promoting their products and services. Social media is expanding with a transit of time because the marketer knows social media is one of the most innovative means to widen the approach of the organization, engage with the target market, and expand the organization. Social media can give business the co-marketing opportunities in which brands can collaborate with other brands which will promote business.
Moreover, through social networking websites, brands can gain followers as every purchaser or fan, which brand gain through Facebook and Twitter following can spread the details about the merchandise and services. Nowadays companies can make the hashtag to help users to view the website and compare all the product line of the brand. Brands can use different approaches to engage their audience, for example, making Instagram stories which will attract the audience towards the product and promotional codes to appeal consumers towards the product by making the concessions. In today’s time, businesses can tackle the customers according their need and personality because of social networking sites such as Facebook and Instagram people share their everyday activities which help the brands to get know the customers and product they are using. Companies can use tracking tools such as Google Analytics attribute the web traffic to various marketing channels
These criteria are relevant from a marketing perspective, social media marketing will increase brand awareness, provide opportunities to the business for market research and building relationship with clients
Factors for a successful social media promotional campaign
For a successful promotional campaign companies should set promotional goals which should be smart which are specific, measurable, achievable, relevant and time-bound, companies should do research on the targeted audience and the demographics such as age, ethnicity and gender and choose different social media platform like Facebook and Twitter and make email list to convey the message to the target audience, and brand can test their products on social media to check the reaction of the people and measure success of the product before real promotional campaign.
Brands should prepare their campaign unique which can distinguish its product. Brands should analyze the campaign to check whether it is successful in getting the attention of the audience. Commercial enterprises should do competitor research on social media to get word from the competitors’ successful promotional efforts. Companies should put more on visuals by including eye catching photographs and videos in the promotional campaigns which will attract the audiences. Brands should prepare their campaign unique such as repurpose old photos because coming up with different content and ideas can give popularity to the brand and leads to success Brands should take note down all the details on an editorial calendar, including the date, time and planning which can save time and can be used for the other activities of the promotion. Companies should contact someone who can influence who can promote the campaign on social media through Facebook and Instagram.
Financial Management Assignment part 2
The brief summary of the detailed ratio analysis of financial statement is as below:
a. Return on equity:
Return on equity measures that how effective management is using shareholder’s funds to generate revenue. The return on equity of the company is 2.2% in the year 2015 which has been decreased in comparison to the year 2014. The ROE of the company is
below the industry average, which is not a healthy sign for the company. If the ROE goes up, then it is beneficial for the company and will show that the company is effectively utilizing shareholder’s resources. If the ROE goes down, then it is a negative sign for the company.
b. Earnings per share:
Earnings per share is the profit which company earns on each share. The Earning per share of the speedster company is 1.0 per share for the year 2015. The EPS has been increased in the year 2015 in comparison to the year 2014 as earnings have been increased. If the earnings go down, then shareholders won’t be happy as their earnings will go down. If the EPS goes up, then it is a positive sign for the company as shareholder earnings have increased.
c. Debt-equity ratio:
The debt - equity ratio is used to evaluate an organization’s financial leverage. The debt-equity ratio of the company is 1.3 times for the year 2015 which shows that the company's debt proportion is higher in comparison to equity to finance its assets. If the ratio goes up, then it is a negative sign for the company and shows that the company is increasing its financial leverage. If the ratio goes down, then the company’s financial leverage will improve, and the financial condition of the company will become healthier.