Virginia State University Analysis of Social Media Business Tools Discussion

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wabe5044

Business Finance

Virginia State University

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Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions: What did you learn from your classmate's posting? What additional questions do you have after reading the posting? What clarification do you need regarding the posting? What differences or similarities do you see between your posting and other classmates' Instructor : Class, of all the head-scratching moves in social media, few have created a greater risk of a bald spot than the rise of Snapchat. You spend time and money creating unique content for a targeted audience only to see that content disappear as soon as it's used. It's the exact opposite of the quick burst and slow burn that a good YouTube video or blog post can achieve. And yet, companies as big as McDonald's, Acura, and Heineken have all waded in, keen to connect with the platform's young audience--and scared to be left behind. The quality of the content has improved over the past couple of years, and it's going to get better. There are enough good case studies available now for anyone to be able churn out effective Snapchat content quickly and easily. Now that businesses no longer need to scratch their heads for good ideas, expect companies with youthful customers to start churning out disposable content Classmate: A blog (shortening of “weblog”) is an online journal or informational website displaying information in the reverse chronological order, with the latest posts appearing first. It is a platform where a writer or even a group of writers share their views on an individual subject.” (Skrba, 2020). Quite frankly, I heard it through the grapevine that the term “blog”, when I exclaimed that it was the first time I’ve heard of it, and what exactly was its definition, because it is new to our vernacular as if the word/slang just got invented, was really an older word used in the United Kingdom. It is their slang for a big and eyecatching poster on the streets, almost like graffiti. The value of this now is still spottily seen on the Web (as in, it’s still catching-up from the UK), though a lot of sources we’ve been researching through, references for our citations even – are falling under the format of “blogs” to know which reference to use for the assignment. So are they common and effective? Or are they less rhetoric like encyclopedia’s and dictionaries? I think, they ought to be price-comparison widgets that pop-up when you’re shopping, or ad banners that over-occupy the web page which makes you click on it! Of course, there are the social media networks like Facebook and Twitter, to post our blogs on, for buyers’ opinion, product releases, and advance notifications and sales. Audio or video releases, especially on YouTube, are usually songs in mp3 format, and music videos in mp4 format instead. If you’ve ever played a song file on your PC, or smartphone, they are usually mp3s, and these are uploaded to YouTube by owners of the songs (home CD, fans of the singer/band) to share it with others so that they can listen too! The same goes for mp4s which are usually the songs’ music videos – like what MTV or VH1 (TV music channels) that deejay’ed for us back in the 80s and 90s! Of course besides songs and their music videos, are monologues by public speakers, product demonstrations, lectures and seminars, movies, excerpts and clips from Media, or home-made self- uploads that promote people at home, or show-off their personal creation, just to get aired on the Web and get “viral” (over-viewed and hitting the fan). Personally, I like what’s more flashy or entertaining as a social media tool, but this is more for multimedia though, not e-Commerce. So, if people are buying and you’re selling, or you’re advertising your venture, this form of Art is too slow, and long to pay attention to. You have to make like the Billboards do. Or show flash in the packaging, quantity, and prices; just like making you look on the shelf, or walking by our storefront on the street. This uses the instinct of impulsiveness, being compelling, or making one resort to caprice; not to have to study us intellectual… A good idea to use these audio/video capabilities is on our very market creator website itself, to augment our specific product listings that need user demonstrations, or testimonial speeches to convince buyers that doubt. “A press release is a written communication that reports specific but brief information about an event, circumstance, product launch, or other happening.” … “Issuing a press release doesn't mean the media will automatically run with it. Media outlets will ask the same questions they always do: Does it interest their readers? Does it benefit the community in some way?” (Wolfe, 2020). There is News, and there are Press releases. You see them either on the News itself, or on a TV show that collects them. So they usually show paparazzi flashing with camera’s, while the photo subject is talking on a microphone, and he/she is addressing asked questions, or announcing an admission or revelation. Sort of like an expose (except this is not “A Current Affair” by Maury Povich in the 90s!). I remember shows in the afternoon, or specific cable TV channels that cater to this obsession like the “E!” channel’s “Talk Soup” show, by Joan Rivers and daughter Melissa. It is very saucy to catch, because of the “scoop” about cultural attaches, not just Media personas. Perhaps this is something our CEO should show on instead, not our products! This could be a manifesto or Christmas celebration, to happily announce our year-end’s success, and many New Year’s resolutions coming-up to look forward to, if you stay with us for the next year. eBay.com I would judge would be one of my top-most competitor, and inspiration for this Business venture… They are very established when it comes to “market creation”, and I have shopped from them for a decade, now. Therefore, I know so much as their consumer, what set of digital communication tools they have used on me! Thus, I have assessed they’re effective communication and dissemination, from years of buying experience, and how they have compelled me to shop impulsively! If I used to think they were original in their communicating tool, I eventually saw it on other websites, picking up their sail. That’s why I picked them, because they seemed to be the first, and the most long-term covering and spanning. Amazon.com is the next runner up, because they are exactly the smaller version of eBay stature, but with more exclusive sellers (and that’s why small), but with more certifications and premium quality. There is a compromise in both, so it is up to you which end of the benefit or advantage you’d want to take… AliExpress.com is my third and last vote, which is back to as wide as eBay, but even more globally hooked-up, with constant foreign sellers shipping from the East and the Southern hemispheres, taking 30 days to arrive at your door with the parcel, with the lowest currency exchanges of the U.S. Dollar like the Chinese Yuan, that there are exchange fees included with your transaction! This is worth struggling through, if your desired novelty is truly authentic to have to get imported from a foreign criteria, or foreign absolute advantage in manufacturing or raw materials. The most premium communication tool was Amazon’s, but basically the same. So from their example, I should select as my first tool, their Wish List program. This enables users to save what they want to buy in the future (but eBay and AlieExpress had this too!), and lock-in the special price, or reserve a quantity before it gets out of stock, so you can purchase it in your Shopping Cart later, when you have the money! Second on my qualifications is eBay’s Bidding program, which sells products from the lowest price (even before profits), then waits for bidders to keep fighting for a higher and higher price to own the item, until it is sold to the highest bidder on the last day of the bidding – which is set by the seller (depending on how much it has to wait for the price to get bidded-on higher and higher, for profits. Which leads us to the third selected tool, of AlieExpress’s Price Comparison banner, that appears at the bottom right of the web page, which searches it’s larger global sellers to duplicate your product, but with a lower foreign currency price than U.S. Dollars. If I put all 3 of these together in my venture market creator, it would be the crystallization of all that I’ve observed from shopping from those 3 market creators that I told you about! Time will tell, together with luck in advertising (separate from those tools), if the Karma law of hitting the fan amongst all others, will work for us… I’m sure if one digs up the bad news about these companies, they have gone through trials of ups and downs, and have borrowed, almost went bankrupt, and have hit bonanza, through their years of operation! I know copying their best tools is certainly getting us started on the most aggressive level, but there is also more connections with business agencies, government bureaus, and of course each other, to get us to promote our way up the corporate ladder. There is also the elasticity (buyers’ response to prices), that we have to self-adjust to, abreast in the swimming for this Business landscape. Sometimes, trend is our friend to make us catchy and unanimous to buy from, or sometimes it is our enemy to turn-off buyers’ moods, when we are outdated, or alternative from the mainstream. But don’t feel buried in the sandpit when this luck gets you, the trend will sway in our direction again, and buyers will come back and boost our sales once more. So there are vicissitudes in time, that we have to be aware of, when it comes to keeping up our Business morale, and maintaining future sustainability. We should just research some histories of success patterns, and lateral avenues for saving or lending to our Business, to give us a less precarious path of goal directives, and business initiatives. This way, we won’t regret making the wrong move, then have sunken costs to turn back around from, much less totally restructure our supply chain, to upgrade our benchmarks to reach that one milestone. References: Skrba, A. (2020). What is a Blog? – The Definition of Blog, Blogging, and Blogger. Retrieved from https://firstsiteguide.com/what-is-blog/ Wolfe, L. (2020 January 7). Press Releases and Their Purpose. Retrieved from https://www.thebalancesmb.com/what-is-a-press-release-3515529 Classmate 2: “The average American uses three social media platforms; young adults use five or more” (Trappe, 2018). For the business venture, the three examples of social media business tools that can be applied to the business are Houzz, Instagram, and Twitter. Furthermore, I can discuss the current and potential future value that blogging, audio/video creations, and press releases will have on JR Designs business venture. Whether you are a business, or a consumer, let’s be honest that social media is a jungle, there are so many platforms today with so many apps, and for developers and businesses the number of integrations available to have your business to be marketed effectively through mass e-mails, marketing banners on web pages, videos, and more through various search engine optimization platforms (SEO). “SEO is significant because it makes your website more visible, and that means more traffic and more opportunities to convert prospects into customers. Beyond that, it is a valuable tool for brand awareness, building relationships with prospects, and positioning yourself as an authoritative and trustworthy expert in your field” (DMI, 2019). For market coverage, an important vertical is to remain relevant and display JR Designs current and passed projects on specific platforms like Houzz, which is a place where you display your content (gallery), interact with people researching interior design specific ideas, collaborate with other professionals in the industry, and help generate leads for the business. Houzz will be an important vertical to put our services “on the shelf” for prospective clients to see as it is a ‘micro-internet’ for areas of home decor, design, project work that has search features, advertising and direct response conversion tactics. Houzz also has a great platform where you can get your suppliers, contractors, past clients and even fans to leave reviews and testimonials about the business and the quality of services. It is equally important to have the suppliers involved to show prospective clients that you have a good network, and the products you use with your services are reputable and your supplier stands with you should there be any issues with the quality or performance of the products. “Instagram is reshaping the $10B business of interior design, and advertising spending on Instagram is set to hit nearly $7B, up from $3.64B in 2017. Design companies also know they have a captive audience and have concentrated on growing their follower counts as a play for direct advertising” (Brown, 2018). Instagram reports that they have over one billion active monthly users and nearly 500 million daily Instagram stories, which makes it worth the time of JR Designs to have a strong marketing strategy that incorporates the use of Instagram. JR Designs can use Instagram to grow our brand awareness, introduce new services and products, show completion of past projects, connect with both past clients, prospective clients, suppliers, and reputation building. Using Instagram will promote our brand and its services in a friendly, authentic way without any hard selling to clients. Twitter will be a strong social media platform tool that it connects today so many audiences and this short-form content platform is popular as a key channel that reaches a wide array of engaged networkers. Forbes reports that with Twitter, “if you’re looking to connect with other interior designers and follow trends in the industry, Twitter is the place to do it” (Agrawal, 2016). This will be a valuable platform for JR Designs that we can show trends, post tips and information about the industry, our local market, products, and our services to keep current with our followers and client base. It is a great tool to continue branding strategy, continue networking and having access to the latest trends locally, nationally, and globally. Blogging will be one of the better ways that JR Designs can share the expertise and talent of the designers staffed at JR Designs, and gives an overall confidence by the prospective client to read more about JR Design services, sharing of past projects and even providing case studies on specific projects or return on investment. To keep even prior clients interactive and in touch, the use of blogging by providing tips on the home or businesses will keep us relevant and in touch with clients and continues their engagement and communicate changes in trends and designs. For audio/video creations strategy, JR Designs, the use of video in the market plan should be a high-ranking strategy. One major benefit of using video is that they rank high in search engine results on their own without much effort in optimization. Instead of the use of just posted photos, the use of video creations will appeal the brand that JR Designs is going for by branding its portfolio through the use of creative videos, and one goal will be to make an introductory video which explains JR Designs’ approach and tactics to, interior design and share it on platforms like YouTube! Press releases should continue to be a critical part of a marketing strategy and will have a positive impact on JR Designs. The press release will help make the target audience of JR Designs to be made aware of new products and services in a way that our business can share it and market it to the base. Managing the number of press releases, their content, and how they are shared will be critical as not to overwhelm the clients or prospects, but also to balance it in a way to show that JR Designs stays up with the trends, growing, and engaging the relationships to continue with its key stakeholders. The press releases can be utilized by both e-mail communicating platforms and have a landing page on JR Designs main website so viewers can see present and past press releases. Three most readily visible competitors in the market for JR Designs that offers not only design services but has a large array of product lines, financing, and other services are West Elm, Crate and Barrel, and IKEA. These three competitors reach various demographics from residential to commercial, and each competitor has its own element of design and branding on appealing to a large array of age groups, design ‘taste’, and other elements specific to their brand. The three competitors in recent years have put a large emphasis on Instagram. As reported in Fast Company, West Elm has over 1.8M followers, IKEA has 1.7M, and Crate and Barrel 1.3M. “They all know social media is another lever to pull when it comes to transforming browsers into buyers, and they’re doing what they can to ratchet up those conversion numbers” (DMI, 2019). Regardless of the social media platform choice, the biggest strategy is to maintain JR Designs reputation. The use of Houzz, Instagram and Twitter will have a positive impact and be successful in the marketing strategy for JR Designs on the ability to reach a wide channel of prospective clients from a broad set of demographics on the various platforms. There is no doubt today that the most influential marketing content for any business is created by their clients/customers, and we do tend to judge a book by its cover looking at online reviews from prior clients/customers that give their experience and opinions of the business. But this even goes a step further, it impacts employees, do you want to work someplace that has a lot of bad client/customer reviews? Reputation is key, and nearly everyone has a smart phone or device to access the web, and be able to post and read reviews and with the interior design (or any business) that every project that JR Designs does has lasting impacts on the business reputation and marketing efforts. Therefore, always making the effort to ensure clients are happy and encourage them to post good comments on their experiences will even further the digital marketing strategy and benefit the business. “While there are many marketing channels today, it remains true that your website is ground zero. Most people who convert into clients will visit your website and use its content in their evaluation” (Yoder, 2019). References Agrawal, A.J. (2016, January 15). Forbes: Social Media Marketing For Interior Designs - - How To Do It Right. Retrieved from https://www.forbes.com/sites/ajagrawal/2016/01/15/social-media-marketing-for-interiordesignershow-to-do-it-right/#72708442652f Brown, T.M. (2018, December 20). Fast Company: Instagram is reshaping the $10B business of Interior design. Retrieved from https://www.fastcompany.com/90282972/instagram-isreshaping-the-10b-business-of-interior-design DMI. (2019). Digital Marketing Institute Digest: What is SEO & Why is it Important? Retrieved From https://digitalmarketinginstitute.com/en-us/blog/what-is-seo-and-why-is-it-Important Trappe, C. (2018, December 28). Interior & Sources: How to Build Your Social Media Brand In the Interior Design World. Retrieved from https://www.interiorsandsources.com/articledetails/articleid/22453/title/build-your-social-media-brand Yoder, S. (2019, May 26). Marketing360: Interior Design Marketing Tips, Ideas, and Strategies. Retrieved from https://www.marketing360.com/local-advertising/interior-designs-marketingtips-ideas-and-strategies/
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Response to the 1st student
I have to commend you for writing such an informative post. You have avoided
extensive use of jargon in order to ensure that the post can be read and understood by experts
and novices.

Also, the post is easy to understand because you have provided clear

defamation for every keyword or marketing jargon used in the post. I have learned a lot of
things from this post. First, I have learned about the real meaning of the blog and the origin of
the word. I would need you to clarify how the use of blogging is likely to give your company
a competitive edge over the competitors. The main difference between your post and my post
is that I used different social media business tools from what you have analyzed.
Response to the 2nd Student
In this post, you have discussed Houzz, Instagram, and Twitter as the tools that you
will use in your venture. In your post, you have extensively explored each of the three social
media tools, including their features and their benefits. One of the things I like about your
post is that your post is quite informative. You have provided a clear discussion in order to
ensure that every user has a clear understanding of the social media concepts discussed within
the post. From your post, I have learned several benefits of social media marketing, including
the increase conversion rates. I would seek clarification on the effectiveness twitter in
marketing.


Running Head: ANALYSIS OF SOCIAL MEDIA BUSINESS TOOLS

Analysis of Social Media Business Tools
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ANALYSIS OF SOCIAL MEDIA BUSINESS TOOLS

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Introduction
Unlike in the past, communication and marketing have become more efficient, less
costly and seamless. This is owing to the invention of different communication technologies.
Among the communication technologies that have played a great role in the revolutionization
of business communication is social media. In order to provide business and individuals ...


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