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Social Media Marketing Benefits for Businesses Why and How Should Every Business Create and Develop Its Social Media Sites?

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Social Media Marketing Benefits for Businesses Why and How Should Every Business Create and Develop Its Social Media Sites? Social Media Marketing benefits for businesses Why and how should every business create and develop its Social Media Sites? This 2012 Master Thesis report will highlight the main business benefits of Social Media Marketing and present the various techniques available to market businesses on the different Social Media channels. Celine ARCA – Master of International Marketing 6/6/2012 Celine ARCA Master of International Marketing © 2012 Celine Arca ALL RIGHTS RESERVED 1 Celine ARCA Master of International Marketing Acknowledgement This report documents my master thesis research on Social Media Marketing on a business perspective. It highlights the issues I have discovered and dealt with while studying this marketing subject. In the preparation of this master thesis, I acknowledge the encouragement and assistance by my employer, Max Dagenais, Trimax Solutions’ managing director, for the opportunities given to me during my previous internship, his precious help, consistent mentoring and kind support before, during, and especially after the accomplishment of my internship. This internship was the trigger for my curiosity and research in the marketing domain of the Social Media. It has been a great challenge but a lot of learning and opportunities to gain huge knowledge on the way of writing this report. I would certainly not have been able to write this report without the guidance and recommendations provided by the great team of Aalborg University: Birgitte Krogner, Study Secretary, and Gitte Nielsen, Secretary of the Study Board. I would also like to express my gratitude to my supervisor Nik Dholakia, for sharing his ideas and interests with me about my study. Their contribution has boosted my research process and helped me finish my study on time. I have learned a lot during this Master Thesis research on Social Media Marketing and I hope you will find my working as interesting and knowledge earning as I have. 2 Celine ARCA Master of International Marketing Table of Contents Acknowledgement ........................................................................................................................................... 2 Table of Contents ............................................................................................................................................. 3 Executive Summary .......................................................................................................................................... 5 List of figures, tables and images...................................................................................................................... 6 1. Introduction ............................................................................................................................................ 8 1.1. Problem Statement ...................................................................................................................................... 8 1.2. Methodological approach ........................................................................................................................... 9 1.3. Theoretical and empirical considerations .................................................................................................. 10 1.4. Limitations ................................................................................................................................................. 11 2. Social Media Marketing – Notion & concepts ........................................................................................ 12 2.1. Definition of Social Media ......................................................................................................................... 12 2.2. Social Media and Marketing ..................................................................................................................... 14 2.3. Social Media Marketing impacts on customers – Social Feedback Cycle .................................................. 14 2.4. The types of Social Media channels ........................................................................................................... 18 3. Methodology ........................................................................................................................................ 25 3.1. The Research Process ................................................................................................................................ 25 3.2. Paradigm study ......................................................................................................................................... 26 3.2. Study design .............................................................................................................................................. 27 3.3. Methodological limitations ....................................................................................................................... 28 3.4. Structure of the report ............................................................................................................................... 28 4. Theoretical analysis: the Benefits of Social Media Marketing ............................................................... 30 4.1. Brand exposure and awareness ................................................................................................................. 31 4.2. Targeted traffic .......................................................................................................................................... 34 4.3. Leads generation ....................................................................................................................................... 36 3 Celine ARCA Master of International Marketing 4.4. Market Insights - Research and competitor monitoring ............................................................................ 37 4.5. Customer interaction – Customer service and feedbacks .......................................................................... 39 4.6. Cost-effective Marketing Technique .......................................................................................................... 40 4.7. Public Relations and Human Resources ..................................................................................................... 41 4.8. Summary of the Social Media Marketing benefits for businesses. ............................................................ 42 5. Empirical analysis: Social Media Marketing channels ............................................................................ 44 5.1. Social Networking ...................................................................................................................................... 45 5.1.1. Facebook Pages ................................................................................................................................. 46 5.1.2. LinkedIn ............................................................................................................................................. 50 5.1.3. Google+ .............................................................................................................................................. 54 5.2. Blogging & Micro Blogging ........................................................................................................................ 55 5.2.1. Blogging ............................................................................................................................................. 55 5.2.3. Micro Blogging – Twitter ................................................................................................................... 57 5.3. Social Media Sharing Sites ......................................................................................................................... 60 5.3.1. Photo Sharing – Flickr ........................................................................................................................ 60 5.3.2. Video Sharing – YouTube ................................................................................................................... 62 5.3.3. Presentation Sharing – SlideShare ..................................................................................................... 65 5.5. Social Collaborative Sites - Wikis ............................................................................................................... 67 5.6. Social Bookmarking – Digg, StumbleUpon and Delicious .......................................................................... 67 5.6. Forums ....................................................................................................................................................... 71 5.7. Social Events .............................................................................................................................................. 72 5.8. Summary of the Social Media channels and their main characteristics. ................................................... 73 6. Limitations and risks of Social Media Marketing ................................................................................... 75 7. Conclusions ........................................................................................................................................... 78 List of references ............................................................................................................................................ 80 List of Appendices .........................................................................................................................................
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