Blog 3- Social Media (A analysis is based on SMMF)

Social media plays a crucial role in the era of digital marketing, which can be a valuable tool to help marketers to promote their online business. The extent of how well digital macro-environment can be managed which leads to a higher profitable possibility and a long-term success of the business. In this blog, I will analyze two examples which are Kylie Jenner’s cosmetics and financial services by using Social Media Marketing Framework (SMMF).

1a Kylie Jenner’s cosmetics

• Scope

Kylie’s cosmetics has a collaborative approach for its scope. Her popularity on Instagram shows her success of understanding the trend among the young generation and fully utilized them to create value for her cosmetics (Bova 2018). Brand awareness is enhanced during the process of posting cosmetic products or make-up videos from Kylie. For example, the hashtag of the brand enables a new way of recognizing goods which may attract potential buyers in the future. The reciprocal interaction helps Kylie’s cosmetics to communicate with followers by knowing the demand and feedback of products, this method can also be called as an explorer.

• Culture

Modernism can be seen from the case of Kylie’s cosmetics, which refers to a more open and flexible way to promote her products. It creates high involvement between the brand and customers by using suitable advertising slogans to attract attention. Unlike the traditional advertisement, Kylie knows how to interact with customers as friends. They are encouraged to post photos with Kylie’s cosmetics and share their experience, people are expected to be selected by Kylie to comment or repost (Forbes 2018).

• Structure

The structure of Kylie’s cosmetics can be decentralized that everyone in the team can be involved in the social media. To be a celebrity and boss in the public, Kylie’s company requires to constantly evolvement in order to follow the trend. Therefore, a network method is used to come up with more creative ideas, which means everyone has chances to say something online to contribute to the development of the brand.

• Governance

Anarchy occurs in the way of managing her company which means there has no restriction for sharing things on social media platform. Due to the powerful presence of Kylie and her family, she has created a path of self-promotion. As long as products are responded positively by her audiences, rules and guidance is not the priority for the management of the company. In other words, the nature of all these activities on the social media is to gain profit and create a long-term economic growth for Kylie’s cosmetics. Of course, she did well!

2a Financial services industry

By using SMMF to understand the situation among financial services industry, the effort they have putted to social media platform can be seen. Firstly, it changes its scope which from a defender to an explorer. It transforms itself from a one-way communication approach of sending notifications to a collaborative way on social media to interact with customers because of the trend of digital marketing. Customers are able to know more stories from the service providers and the company can build a positive customer relationship with trust by using social media channel (Dopson 2018). Due to the sensitivity of personal information, it is important to keep them private and safe for their clients. The style will be a more traditional mass-marketing channel as conservatism which is different from the example of Kylie cosmetics.

Moreover, employees can be controlled by a centralized approach which also called as a hierarchy of decision making. In order to meet the standard of a formal company and the preciseness of the industry requirement, financial industry has clear rules and guidance on posted photos or videos to ensure the company operates properly and prevent the mistakes. What can say and what cannot say on the social media somehow may restrict the democracy of information, which influences the result of social media marketing. Because of the imperfection of marketing strategy which relates to social media among financial services industry, it still needs to be aware of customer mindshare may be conceded by other firms.

In conclusion, every company has its own strategy to deal with social media channel, but the fittest one is the most successful one!

References

Bova, T. (2018). How Kylie Jenner Built One of the Fastest-Growing Beauty Brands Ever. Retrieved from Entrepreneur website: https://www.entrepreneur.com/article/317001

Chaffey, D. & Ellis-Chadwick, F. (2019). Digital Marketing. England: Pearson.

Dopson, E. (2018). Social Media Marketing for Financial Services. Retrieved from Sendible Insights website: https://www.sendible.com/insights/social-media-marketing-for-financial-services

Forbes. (2018). How 20-Year-Old Kylie Jenner Built A $900 Million Fortune In Less Than 3 Years. Retrieved from Forbes website: https://www.forbes.com/sites/forbesdigitalcovers/2018/07/11/how-20-year-old-kylie-jenner-built-a-900-million-fortune-in-less-than-3-years/#115e2f1faa62