"The Importance of Social Media and Web Analytics" Please respond to the following:
From the scenario, prioritize the most significant components of a social media campaign according to the level of influence each could have on the new product launch. Examine both the social media tools that will provide the highest return on investment (ROI), and two (2) key performance indicators (KPIs) that one could use to measure success. Provide a rationale for your response.
Social media has changed traditional media types. Newspaper circulation is declining, and while optimists continue to launch new magazines every year, heir overall sales and circulations are down as well. The number of radio stations has grown, boosted by satellite servers, but listeners are tuned in for less time each day than just a few years ago. TV Channels also continue to grow. The bad news is that with more TV channels, the audience for any given show is typically smaller. The good news is that targeting is facilitated when the segments of viewers are somewhat more homogenous. Advantages of social media in a marketing campaign are that it makes you credible, gives you outstanding visibility, builds trust, you can offer your products and services, you are the perceived expert, it demands higher prices, it builds new relationships, increases familiarity, and increases referrals. You don’t make money with social media. You market to develop relationships with people who will buy your product that know, like, and trust you. Four steps to social media success are: find interested people, deliver quality content, stay in touch, and capture information. You want to provide content and not commercials. The key to a successful social media campaign is selecting a social media that creates good word of mouth. Different social medias combined creates social networks where some members are more connected and influential than others. When estimating ROI, which is the efficiency of investments, the primary expenditures might be mediatized or explicit budgetary contributions so much as salary equivalence of peoples time allocations. KPI’s for social media are analogous to traditional measures for advertising effectiveness, specifically marketers are always interested in quantifying reach, frequency, monitory value of customers, customer behavior, attitudes, and memory, including recall and recognition. A common way to determine ROI for social media is through conversation rate, which is the tr