Social Media Journey

Social media is an area of business that cannot be ignored, as it involves a technological interaction that has changed the way businesses have conversations with customers. But the insertion of the word "marketing" at the end of social media has created some challenges of perception and execution.

Social media has been around for decades, since there was access to the Internet and places to post ideas, content and opinions. It took until Facebook swept across the world, around 2007, for social media to take hold in society. As everyone rushed to join social media sites like Twitter, YouTube, Flikr, Tumblr, Pinterest and Instagram, all were launched and acquired by larger firms. People were able to engage with family members and strangers alike, and it became clear that there were opportunities to be had in this new space.

What was so striking for companies was an opportunity to approach an engaged audience in an environment that was much more interactive than other ways in which marketing had been using for decades. So instead of advertisements that were being skipped over by PVRs, billboards that were ignored on the side of the road, or brochures collecting dust on a shelf somewhere, social media provided something that was hard to find: engagement. Companies could have conversations with customers directly on social media sites, and customers could give direct feedback not present with a brochure or print ad.

It was around these early days that the word marketing became attached to social media. It was clear that communication and promotion would greatly benefit from social media sites. The opportunity for real interaction with customers was far too enticing to ignore. But to call it marketing, it would have to involve other aspects of what marketing is about: needs, values, offerings research, pricing, and distribution.

As the concept of storytelling became a trend in marketing, social media-active companies began to see how branding could be used in this environment. The Harvard Business Review summarized it this way: "The thinking went like this: Social media would allow your company to leapfrog traditional media and forge relationships directly with customers. If you told them great stories and connected with them in real time, your brand would become a hub for a community of consumers."

It sounded like a perfect synchronicity: proactive brands and eager consumers meeting up in the social space to exchange stories. But the hope of great riches in social media for many companies has not been too lucrative. Coca-Cola put out a marketing strategy in 2011 that shifted all focus to social media. It created a digital magazine called "Coca-Cola Journey" that was meant to create an environment where consumers would engage with Coke in its new online home. The belief from Coca-Cola was that this new approach would double the company's sales by 2020. As of late 2018, the Coca-Cola Journey YouTube has just under 40,000 subscribers.

This number seems respectable until you compare it to other YouTube sites. Mark Fiscbach is a YouTuber who plays video games and records himself yelling and cursing at the screen. Known as Markiplier, Mark dropped out of school to focus on YouTube. He has 22 Million subscribers. DudePerfect, a group of college friends, create trick shot videos. Their following on YouTube: more than 37 million subscribers.

It would seem that many social media users are looking for content, just not the type of content most companies are producing. And it is becoming increasingly challenging to determine the Return on Investment (ROI) of social media marketing. In a survey of marketing agencies, only 17% responded that they were able to measure social media marketing accurately. The report also stated: "Here's how they do social media marketing: create social media accounts; post things; expect to make some profit. Unfortunately, effective social media marketing isn't that plain simple. It takes a lot of effort to create a social media presence that actually benefits your business."

And with increased concerns of the negative influence exerted by Russia using social media during the last U.S. election, combined with claims that Facebook exaggerated viewership of Facebook ads, there is a lot to be concerned about in this space.

Luckily for you, you have had access to resources like your notes and text or online materials on marketing and social media. You realize there is much that can be done to help companies to better employ marketing principles in the social media space.

Question - Create a PowerPoint

• You have just been hired by Coca-Cola to help them jump-start their social media marketing efforts. You know that this will involved more than just making a few memes, and you know you must use the power of marketing in all areas to help Coca-Cola develop a real social media presence.
• Detail five specific steps you would take, in the format of a pitch presentation (slide format) using material from your class. Make sure that each step involves some clear aspect of marketing (not just promotion) and ensure that the steps are in logical order.
• This report is due on your boss' desk soon, so you better get going right away. Make your report something of pinterest to those in charge; there is only a flikr of hope at this point.