Promotion Of A New Business Model Through Social Media Presented By Niall Ryan – 13113054 Jamie O’Dwyer – 13073826 David Scully – 13147048
What You Can Expect To Learn From This Presentation • What is social media and how it compares to traditional media. • An example structure of a good business model. • The Pros and Cons of Social Media. • Our thoughts and conclusion from the research we have done.
What is Media/Social Media • Media is a means of communication. • Traditional Media is more of a one way type of communication. • Social Media is a means of interaction between people using a medium e.g. Facebook. • Main Differences between Social Media and Traditional Media. -Immediacy
Business Model What is a business model? - A plan implemented by a company or organisation to generate profit and make a profit for the organisation. Why is a sustainable model important - Continue to generate profit - Flexibility - Growth
Reaching Customers • Social Media has great potential when it comes to reaching customers. And it is also expanding rapidly. 100million active daily users. 1billion unique users to the site every month. 483million daily active users. Boosted status Google Add’s Promoted trends
Differentiating Your Product Old Spice utilized the power of promotion through social media as a new business model to turn a stagnating business around to a top competitor in the field.
Hitting Exact Demographic • Social media is a good option when it comes to hitting the demographic as. • As it is able to use the cookies in your system to determine ads on other sites. • In Facebook for example you can set your ads to only hit certain age groups. • Or use ads to only hit people with certain interests.
Supporting Customers Social Media allows for instant feedback/responses to customer problems. Ideal for small business without any other form of customer service.
Cons of Social Media • Can be time consuming(Always needs to be updated). • Can require extra staff for maintenance of social media used. • Negative viral e.g. McDonalds #McDStories.
Pros of Social Media • Can reach a wide audience • Instant feedback/support from fans/customers. • Cheaper than traditional media. • Positive viral e.g. Old Spice, One Dollar Shave Club.
Conclusion • We have shown what social media is. • We have explained what a business model is and its core segments • We have shown how promotion media can be used as a new business model. • We have also given the pros and cons of social media. • And from our reasearch we have concluded that social media is a reliable form of promotion for a new business model.
Questions? • We will answer any questions you may have.
References • http://techcrunch.com/2011/01/08/business-models-and-teenage-sex/ • http://www.investopedia.com/terms/b/businessmodel.asp • http://www.sciencedirect.com/science/article/pii/S0007681309000329 • http://www.emarketingtravel.net/resources/can%20you%20mesur%20the%20ROI%20of%20your%20Social%20media%20marketing.pdf • http://onlinelibrary.wiley.com/doi/10.1111/j.1083-6101.2007.00393.x/full • http://books.google.ie/books?hl=en&lr=&id=OLXuSpdKeNEC&oi=fnd&pg=PR7&dq=promoting+a+business+through+social +media&ots=Teu3MOM3CO&sig=B1cW5L6XGzVNdRxH_UvpKmZBiGs&redir_esc=y#v=onepage&q=promoting%20a%20business%20through %20social%20media&f=false • http://www.focustsi.com/resources/article.aspx?id=benefits-of-social-media-marketing&category=social-media • http://smallbusiness.chron.com/disadvantages-advertising-social-media-18746.html http://www.socialmediaexaminer.com/7-creative-social-media-marketing-mini-case-studies/ • http://econsultancy.com/ie/blog/62558-70-epic-social-media-case-studies-stats-blog-posts-and-more • https://twitter.com/OldSpice