Use of Social Media Platforms to introduce new Products
Social networking is an online administration, stage, or website that spotlights on encouraging the working of social systems or social relations among individuals who, for instance, offer intrigues, exercises, foundations, or genuine associations David, M. (2013, March 27).
In the recent years, social advances have given social connections the rate and size of the Internet. Whether talking about customer items or sorting out political developments, individuals around the globe continually utilize social-media stages to look for and offer data. Companies use them to achieve customers in new courses as well; by taking advantage of these discussions, associations can produce wealthier experiences and make focused on messages and offers.
While 72 percent of companies use social innovations somehow, not very many are anywhere close to accomplishing the maximum capacity advantage. Truth be told, the most capable uses of social innovations in the worldwide economy are undiscovered. Companies will continue creating approaches to achieve shoppers through social changes and get-together bits of knowledge for item advancement, advertising, and client administration.
The measure of worth individual companies can catch from social advances differs by industry, as do the wellsprings of quality. Enterprises that have a significant degree of cooperation specialists can understand enormous profitability enhancements through speedier inward correspondence and smoother joint effort. Businesses that depend vigorously on interacting so as to affect buyers can determine extensive quality with them in social media and by checking the discussions to pick up a wealthier point of view on item necessities or brand picture for considerably less than what customary exploration strategies would cost Europa. (2013, July)
To profit from social advances, associations must change their structures, procedures, and societies: they should turn out to be more open and non-hierarchical and make a society of trust. Eventually, the force of social innovations depends on the full and eager interest of employees who are not hesitant to share their contemplations and trust that their commitments will be regarded. Making these conditions will be much more difficult than executing the innovations themselves Europa. (2013, July)
The face of marketing today has significantly changed with the advent of technology. Technological advancement has brought together people of all races from all geographical areas all-around the globe with social media. Shrewd marketers found the use of social media as an excellent platform on which they could sell their merchandise with an aim of reaching out to a larger customer base with less hassle.Nike and GoPro companies are some of the enterprises that took their advertising a notch higher by adopting Facebook and Twitter as some of their main social media platforms on which they market their products. This study divulges into the use of social media when introducing a new product into the market. The study is based on statistical data from various credible sources from which inferences on the profitability of using social media in marketing can be made. The main social media platforms considered for the study are Facebook and Twitter.
The trends of social networks, challenges and applications in business
Facebook among other social media platforms is one of the largest social media platform boastings of over 1 billion subscribers globally. It provides an excellent spot for manufacturers, marketers and any other business-oriented people to sell off their products and services to more clients beyond any geographical limits. Sports being an inherently social activity, brands such as Nike augur well when it comes to social media activity. Like many other sports brands, Nike has separate Facebook pages for each product category. This includes FuelBand, snowboarding as well as two different football pages; one under the American sports version and the other for the football version played all over the globe (David, 2013).
Recent statistics show that the football pages carry the highest number of fans than any other Nike pages (17.2M) followed by the company’s primary corporate account(12.3M) and the American Football at (2.4M). The dedicated sports pages are updated on daily basis including videos and images meant to advertise some of their merchandise. The company enjoys a massive fan base with a number of renowned athletes who create and share content among them Cristiano Ronaldo and Andres Iniesta, some of the celebrated football personalities. The pages are then filtered down by country, for instance, Nike Running France. This makes it possible for their activities to be localized in concise fan bases. Each of the categories regularly posts with photos and videos of the latest product models with some incorporating celebrity-endorsed inspiration.
On the other hand, Nike has utilized the photo and video options on Twitter to showcase their products to the world. The @NikeStore Twitter handle features all the latest products with clear images and brief details on the product and where they can be found. Previously, the company has been voted as one of the best in customer support services. Their @NikeSupport handle makes it easier for the support team to reply to the hundreds of tweets streaming in all day more efficiently. This makes it easier for them to cater for queries worldwide on one hub. The company uses Twitter to direct the customers to other communication channels where they can interact more (Alice, 2014).
Challenges faced by Nike and GoPro in Social Media Marketing
Companies face a myriad of difficulties while using social media. One of the biggest challenges is the use of online ratings. Online ratings are double edged with both merits and demerits. Consumer online ratings are not only influenced by the service quality but also other online ratings. A significant number of customers voting for competitors weakens the positive and consequently overturning the adverse effects of product failure. However, keeping the consumer demographic details open influences the target customer brands and purchase (Raji, 2014).
The impact of Twitter and Facebook to NIKE and GoPro Companies’ Marketing Strategy
While the growth of social media makes it difficult to contain campaigns going on in the market. The platform offers brands greater opportunities to connect with larger audiences globally in such a way that feels more personal than any of the previously available mediums.Nike has managed to set the bar high for other companies when it comes to embracing social media to drive global campaigns. The attacks date back from the days of promoting NCAA March Madness, a US-based basketball tournament on its homepage. Nike iD online store allows customers to make their custom shoes hit sales reaching over $100 million in a short time. Social media has brought in a great revolution in the marketing industry (Isabelle, 2012). Having made it possible of the companies to interact with customers cutting across various cultural backgrounds, Nike made more sales as it promoted interaction with its clients making them feel part of the business itself.
The use of the social networking opportunities for the future business growth and development
Social media use has continuously changed over the years changing how people interact and as it matures, entrepreneurial enterprises will go on looking for more ways to better leverage the tools in their day-to-day workflows with an aim of making productive use of the platforms. Future anticipated opportunities may be classified under supply and demand. Under the supply, social software development will lead to the development of enterprise specific social networks that will include key personalized functionalities such as profiles, blogs, and activity streams (Peter & J, 2011). This is expected to hoodwink various companies into acquiring a set of services, which have integrated the capabilities into the critical workflows. Moreover, more companies are scheduled to look for social solutions to act as decision support. Service providers and software vendors today are collaborating to supply social media monitoring services upon demand by the particular company (Europa, 2013).
Many companies, among them Nike spend many resources trying to monitor social information shared by consumers on the social web. However, with the introduction of the cost-effective automated collection and analysis support software massive amounts of information vital to the marketing process will be gathered thereby saving part of the resources used for the job.
On the demand side, social media will be used externally to connect with customers and offer client services in real time at lower costs. Social media is expected to draw customers and partners towards the primary innovation process and address the need to improve on product development, a key aspect in keeping the company afloat in the midst of the market dynamisms. Other stakeholders and customers will connect with ease, for instance, human resource departments in the Nike and GoPro companies will recruit, and pre-screen candidates were thereby improving on talent recruitment while cutting down costs involved (Europa, 2013).
Social media is an excellent marketing tool bringing in a revolution in how modern marketing works. Major brands all over the globe are in constant competition to sell more of their products to a larger customer base. The use of social media is one of the most effective in achieving this. However, the platform may be used to build or kill the brand if extreme caution is not exercised. Just as the principles can be used to promote the products to a broad customer base, any deviation in product quality would translate to detrimental effects as the information will spread just as fast.
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