A Project Report on “THE ANALYSIS OF SOCIAL M EDIA MARKETING ACTIVITIES OF TRAVEL AND TOURISM INDUSTRY ”
Submitted in partial fulfillment of the requirement for award Of degree in Masters of Business Administration (MBA) Submitted to Savitribai Phule Pune University.
Submitted By
Prasanna Jaiwant Mahamulkar Batch (2013-15).
Through Modern Education Society’s Neville Wadia Institute of Management Studies and Research, Pune
CERIFICATE This is to certify that Mr. Prasanna Jaiwant Mahamulkar a bonafide student of Neville Wadia Institute of Management Studies and Research, Punehas completed the
project, during 26th May – 26th July with the title “The Analysis of Social Media Marketing Activities of Travel and Tourism Industry”at Yuvi Digital Marketing, Pune.
This project was undertaken as partial fulfillment of Post-Graduate Degree of Master of Business Administration (MBA) under Savitribai Phule Pune University during the academic year 2014-2015. He carried out this project under our guidance and supervision. His work is found to be satisfactory in all respects. To the best of our knowledge and belief, this work has not been submitted elsewhere for the award of any other degree. ‘We wish him/her all the best for his/her future endeavors’.
Prof. Vikas Dole
Prof. Abhay Kinikar
Dr.
Anand
Dadas PROJECT GUIDE
COURSE COORDINATOR
DIRECTOR
CERTIFICATE This is to certify that, Mr. Prasanna Jaiwant Mahamulkar, a student of MBAII of Neville Wadia Institute of Management and Research, Pune, has successfully completed his project training on the topic “The Analysis of Social Media Marketing Activities of Travel and Tourism Industry” at Yuvi Digital Marketing in the Marketing Department under the guidance of Mr. Yogesh Gaikwad (Founder), during 26 th May 2014 to 26th July 2014. During this period he was found to be sincere, dedicated and hardworking. We take this opportunity to wish him a successful and fulfilling career.
Mr. Yogesh Gaikwad (Founder & Marketing Head)
DECLARATION
I Prasanna Jaiwant Mahamulkar, hereby declare that this project report entitled “The Analysis of Social Media Marketing Activities of Travel and Tourism Industry” at Yuvi Digital Marketing, Pune, is a record of work carried by me under the guidance of my guide and has not been submitted to any other University or Institute or published earlier.
Prasanna Jaiwant Mahamulkar Pune. Date:
ACKNOWLEDGEMENT
I take this opportunity to express my profound gratitude and deep regards to my guide for his exemplary guidance, monitoring and constant encouragement throughout the course of this thesis. The blessing, help and guidance given by him time to time shall carry me a long way in the journey of life on which I am about to embark. I also take this opportunity to express a deep sense of gratitude to Company Mentor, for his cordial support, valuable information and guidance, which helped me in completing this task through various stages. I am obliged to my Company Mentor, Mr. Yogesh Gaikwad (Founder and Marketing Head) of the Yuvi Digital Marketing, Pune for the valuable information provided in the respective fields. I am grateful for the organisation’s cooperation during the period of my assignment. Lastly, I thank almighty, parents and friends for their constant encouragement without which this assignment would not be possible.
Prasanna J Mahamulkar
CONTENTS
Sr. No.
Topic
Page No.
01
Executive Summary
1
02
Introduction
2-8
03
Organizational Profile
9 - 16
04
Literature Review
20-21
05
Objectives Of The Study
06
Research Methodology
23-26
07
Limitations of the study
27
08
Data Analysis & Interpretation
09
Learning of the student
40
10
Contribution to host organization
41
11
Findings & Recommendations
42
12
Conclusion
43
13
Bibliography
44
14
Annexure
22
28 - 39
45 - 48
EXECUTIVE SUMMARY The scope of this report is to analyze the business benefits of Social Media Marketing and to provide some solutions towards the complex choice of Social Media channels. Social Media is a revolution. Personal, professional, and commercial are combined seamlessly, and in a blink of an eye. It promotes extreme cross-communication and interaction. Unlike traditional media channels, which offer a one-way experience, social media is based on a two-way interactive experience between the consumer and the company. First, the report proposes a definition of Social Media, a presentation of its relation with the marketing domain. As a result, this section underlines the basic information related to Social Media Marketing needed for the detailed analysis of the project. Secondly, the methodology which will be used through the whole project is determined, while presenting the research process, introducing the paradigm study of research traditions, distinguishing the qualitative and quantitative research of the study design, and defining the structure of the project. Then, the report presents the theoretical considerations based on which the business benefits of Social Media Marketing can be defined. Therefore, brand exposure, targeted traffic, leads generation, market research, customer interaction, marketing effectiveness, public relations and human resources are studied in terms of benefits for businesses implementing Social Media Marketing strategies. Based on these theoretical considerations, the empirical analysis of the report will then be developed in order to describe the Social Media channels available to businesses aiming at increasing their Social Media presence. Social Networks, Blogs and Micro blogs, Media Sharing sites, Wikis, Social Bookmarking, Forums, and Social Events will be defined with examples and will be analyzed in terms of strengths and weaknesses for businesses. Finally, the limitations and risks possibly encountered during a Social Media Marketing strategy will be presented, resulting in final conclusions on the current state of Social Media Marketing and its possible future evolution.
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INTRODUCTION Social Media is the trend. And for businesses it represents a marketing opportunity that transcends the traditional middleman and connects companies directly with customers. This is why nearly every business on the planet—from giants like Starbucks and IBM to the local ice cream shop —are exploring social media marketing initiatives. A year ago, businesses were uncertain about social media. Now it's here to stay and companies are rapidly adopting social media marketing. Much like email and websites first empowered businesses, social media is the next marketing wave. Social media marketing is marketing using online communities, social networks, blog marketing and more. It's the latest "buzz" in marketing. India is probably among the first proponents of social media marketing. These days, the organizational cause has replaced the social cause as companies seek to engage with their audience via the online platforms. The explosion of social media phenomenon is as mindboggling as that and the pace at which it is growing is maddening. Trust and goodwill are the basis of social networking, and by marketing in the realm of social media these fundamental notions need to be adhered. It is probably the only marketing platform that encourages fool proof communication and accountability among sellers as well as consumers. Global companies have recognized Social Media Marketing as a potential marketing platform, utilized them with innovations to power their advertising campaign with social media marketing. The meaning of the term ‘social media’ can be derived from two words which constitute it. Media generally refers to advertising and the communication of ideas or information through publications/channels. Social implies the interaction of individuals within a group or community. Taken together, social media simply refers to communication/publication platforms which are generated and sustained by the interpersonal interaction of individuals through the specific medium or tool. Wikipedia has a general definition of the term: Social Media is the democratization of information, transforming people from content readers into content publishers. It is the shift from a broadcast mechanism to a many-to-many model, rooted in conversations between authors, people, and peers.
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Social media: Social media is engaging with consumers online. According to Wikipedia, social media is internet-based tools for sharing and discussing information among human beings. Social media is all about networking and networking in a way that espouses trust among parties and communities involved. Any website which allows user to share their content, opinions, views and encourages interaction and community building can be classified as a social media. Some popular social media sites are: Facebook, YouTube, Twitter, Digg, MySpace, StumbleUpon, Delicious, Scribd, Flickr etc. Social media is the medium to socialize. They use web-based technology to quickly disseminate knowledge and information to a huge number of users. They allow creation and exchange of user-generated content. Facebook, Twitter, Hi5, Orkut and other social networking sites are collectively referred social media. Social media represents low-cost tools that are used to combine technology and social interaction with the use of words. These tools are typically internet or mobile based like Twitter, Facebook, MySpace and YouTube.
There are two benefits of social media that are important to businesses, they include:
Cost reduction by decreasing staff time.
Increase of probability of revenue generation.
Social media enables companies to:
Share their expertise and knowledge.
Tap into the wisdom of their consumers.
Enables customers helping customers.
Engages prospects through customer evangelism.
Thus the benefits of social media include: brand reach and awareness, consumer interactions through transactions, referrals and reputation management. Page | 3
EXAMPLE2014 Indian Elections The 2014 Indian Elections had a huge presence on social networking sites. Narendra Modi, candidate for PM, used Twitter and Facebook to differentiate his campaign. His social networking site profile pages were constantly being updated and interacting with followers.
Nike #MakeItCount In early 2012, Nike introduced its Make It Count social media campaign. The campaign kickoff began YouTubers Casey Neistat and Max Joseph launching a YouTube video, where they traveled 34,000 miles to visit 16 cities in 13 countries. They promoted the #makeitcount hashtag, which millions of consumers shared via Twitter and Instagram by uploading photos and sending tweets. The #MakeItCount YouTube video went viral and Nike saw an 18% increase in profit in 2012, the year this product was released.
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SOCIAL MEDIA & ITS REACH
Facebook
1.01 billion mobile monthly active users as of March 31, 2014
72% of online adults visit Facebook at least once a month
Number of Facebook users in India alone is over 100 million
There are more than 50 Million Facebook pages
Most common reason to unli ke a Facebook page Is uninteresting posts
75% of the engagement on a post happens in first 5 hours
Google+
Average time spent on Google+ is 7 minutes per month 22% of online adults visit Google+ once in a month
Google+ is the most misunderstood platform so far. Just kidding!
53% of interaction between a Google+ user and Brand is positive
Twitter
500 million Tweets are sent per day
78% of Twitter's active users are on mobile
44% of users have never sent a Tweet, consider them inactive
391 Million Twitter account have no followers
46% of Twitter users tweet at least once in a day
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Instagram
20 Billion+ photos has been shared on Instagram to date
23% of teens consider Instagram as their favorite social network
50 Million users signed up to Instagram In last six months
Thailand alone has 1.5 million Instagram users
LinkedIn
More than 2 users sign-up for Linkedln every second
There are over 39 million students recent college graduates on Linkedln
Linkedln reaches a total of 200 coun
41% of Linkedln visits are via Mobile
44K is the average number of daily Linkedln mobile Job applications
tries and territorie s geographically
Youtube
6 Billion hours of video is watched on YouTube per month
100 hours of video is uploaded on YouTube per minute
40% of YouTube traffic comes from Mobile
1 Billion is the average YouTube mobile videos views per day.
Blogs
12 Million+ people blog via Social Networks
23% of internet time is spent on blogs and social networks
Companies with a blog have 97% more inbound links than others
B2B marketers using blogs generate 67% more leads
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Pros and Cons of Social media marketing Social media is the modern tool for marketers who try every means to get their message out to their target markets. The medium has many advantages and disadvantages, and companies struggle to find the right way to use it. The average business owner does not fully understand the risks, and the field is still so new that it is difficult to evaluate the qualifications of social media “experts” who offer their services.
Social Media Platforms Facebook and Twitter are the social media platforms most commonly used for marketing. Facebook offers the option of creating a fan page for a company or product, while Twitter makes use of 140-character posts that users follow. Blogs are online journals written by users, which can be influential in spreading news and information. YouTube is a repository for podcasts and video clips, with a viewership of millions around the globe. Social bookmarking sites such as Del.icio.us and Digg enable users to share links to information with friends and followers. Some sites offer display advertising options, but the majority are simply a method of sharing information with others.
Advantages The main advantage of social media marketing is cost-related. The majority of social media sites are free to access, create a profile and post information. The advantage of reaching your targeted market for little or no cash investment is substantial, and the audience wanting your information voluntarily joins or follows you. Pay-per-click advertisements on sites such as Facebook are "geo-targeted" according to specific criteria, to reach the correct audience. The viral nature of social media means that each person who reads your posts has the capability to spread the news farther within his own network, so information can reach a large number of people in a short time.
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Disadvantages Updating your social media accounts takes time and effort. A senior person with knowledge about the company and products should handle your social media presence, and the cost in time means the media is not completely free. It is ongoing work to find new angles about your products continually and to post and re-post information. The information is only visible for a short time before newer posts replace it. In addition, publishing obvious advertising copy is unacceptable in the social media world, therefore you must present the information in the form of conversation or you will lose followers.
Risks Social media marketing carries several risks. Unless you have someone check your social media accounts several times a day, disgruntled customers or employees can publish negative comments that are not always removable. For example, every post on Twitter is public and you have no control over what people say. Bad news can go viral as easily as good news and can do your business irreparable harm. IT governance group the Information Systems Audit and Control Association released a report in June 2010 ranking viruses and malware, brand hijacking, lack of control over corporate content, unrealistic customer expectations and non-compliance with record management regulations as the top five risks of social media.
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ORGANISATIONAL PROFILE COMPANY OVERVIEW
Yuvi Digital Marketing Yuvi Digital Marketing specializes in Digital marketing which is the process of integrating platforms and customers experience through a digital channel. It offers the prospect of increasing and improving the interactions and relationships with current and prospective customers through, for instance, social networking sites, instant messaging systems and mobile applications (apps).
Mission
Discover Potential Partners
Notify Customers of Inventory Updates
Repost your Press Releases
Educate Your Customers
Blog about Your Business.
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Yuvi Digital Marketing Profile Yuvi Digital Marketing is a Pune based digital marketing firm specializing in helping businesses grow their online presence through digital marketing. Specializing in custom web solutions via website design & implementation, SEO, SEM, advanced analytics, social media strategies and conversion optimization, Yuvi Digital Marketing has the right custom solution for your business. Yuvi Digital Marketing was established in 2014 to help businesses shift strategic thinking from push marketing to pull or inbound marketing. Yuvi Digital Marketing works with clients in many verticals including but not limited to automotive, web, IT, service industry, non-profit organizations, and medical professionals. We excel in creating marketing plans from the ground up and helping consult businesses in achieving results.
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Digital Marketing In simplistic terms, digital marketing is the promotion of products or brands via one or more forms of electronic media. Digital marketing differs from traditional marketing in that it involves the use of channels and methods that enable an organization to analyze marketing campaigns and understand what is working and what isn’t – typically in real time. Digital marketers monitor things like what is being viewed, how often and for how long, sales conversions, what content works and doesn’t work, etc. While the Internet is, perhaps, the channel most closely associated with digital marketing, others include wireless text messaging, mobile instant messaging, mobile apps, podcasts, electronic billboards, digital television and radio channels, etc.
Why Digital Marketing Is Important?
Digital media is so pervasive that consumers have access to information any time and any place they want it. Gone are the days when the messages people got about your products or services came from you and consisted of only what you wanted them to know. Digital media is an ever-growing source of entertainment, news, shopping and social interaction, and consumers are now exposed not just to what your company says about your brand, but what the media, friends, relatives, peers, etc., are saying as well. And they are more likely to believe them than you. People want brands they can trust, companies that know them, communications that are personalized and relevant, and offers tailored to their needs and preferences.
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Manage Customer Relationships Digital marketing and its associated channels are important – but not to the exclusion of all else. It’s not enough to just know your customers; you must know them better than anybody else so you can communicate with them where, when and how they are most receptive to your message. To do that, you need a consolidated view of customer.
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About the Founder & CEO
Hiren Shah (Founding Member, CEO & Finance Head) Holds a degree in Master of Business Administration in Marketing as well as Bachelor of Commerce from University of Pune. Has an experience of 5 years in various forms of
Marketing activities and businesses.
Yogesh Gaikwad (Founding Member, Director & Marketing Head) Holds a degree in Master of Business Administration in Marketing as well as Bachelor of Business Administration in Human Resource Management from University of Pune.
Has experience in Business Development, Sales, Market Research and Social Media Marketing.
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CLIENTELE:
Arnav Computers
Lata Ganesh Clinic
Vijja
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DIGITAL MARKETING PRACTICES FOLLOWED BY YDM
1. Social Media Marketing & Optimization Services
General Social Media Strategy and Social Integrated Marketing consulting.
Formal Analysis of current marketing deployment, Social strategy development and integration.
Social Media Account creation, management and daily responsibility, including Facebook, Twitter, LinkedIn, YouTube.
Fan page custom landing page design and implementation.
Twitter page custom background design and implementation.
Development and execution of a social content strategy
Management of Fan page posting – We will be posting 1-3 times per day
Management of Twitter posting – We will be posting 05-20+ times per day
Cross channel flow consulting from all media sites including website, fan page, Twitter, etc.
General text, photo, video and other posts to Social Media umbrella sites.
General compilation and coordination of client news, events, community involvement postings within Social Media umbrella sites.
Social Media cross pollination and marketing integration plan and execution, ensuring all client channels are integrated and draw on one another toward social media.
Responding and engaging with fans and followers to build relationships.
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2. Search Engine Monitoring (SEM) & Search Engine Optimization (SEO)
Perform keyword research in coordination with client business objectives to optimize existing content and uncover new opportunities.
Provide SEO analysis and recommendations in coordination with elements and structure of websites and web pages.
Administer search engine programs (XML sitemaps, shopping feeds, webmaster tools) for purposes of diagnostic reporting on client projects.
Help to create and support marketing content to socialize and use for social media purposes (e.g. customer videos briefs, customer case studies, blog posts, posts from analysts and customers)
Implement link building campaigns in coordination with client SEO goals.
Keep pace with SEO, search engine, social media and internet marketing industry trends and developments.
Research and administer social media tools in support of clients’ social media strategy.
Monitor and administer web analytics dashboards, reports and key reporting tools, and point out key areas of importance in accordance client goals.
Monitor and evaluate search results and search performance across the major search channels.
3. Business Development
Developing business plan and sales strategy for the market that ensures attainment of company revenue goals and profitability.
Business Development from new and existing clients.
Drafting Proposals & Agreements by analyzing client’s business/functional requirements & presenting business proposals to targeted brands on face to face meetings.
Price Negotiations and closing the deals. Page | 16
Preparing action plans by individuals as well as by team for effective search of business development leads and prospects.
Providing input to the Department Head on effectiveness of various advertising strategies, seminar locations, brochures, videos, etc.
Completing competitive analysis for the department heads review.
Participating in marketing meetings regarding changing attitudes of prospects and how to best reach them.
Attending trade shows and professionally representing Franchise India.
Staying informed on current events relating to franchising, business, and the world through magazines, newspapers, TV, websites, and other sources of information.
Doing joint client meeting along with team members for deal closures.
4. Web Designing and Graphic Desig ning
Layout designing PSD to HTML conversion
Logo designing
Brochure designing
Business cards
Flash and PowerPoint Presentations (For Corporates)
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SWOT ANALYSIS
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LITERATURE REVIEW The rules of marketing had to change and the web has proved a catalyst in bringing the changes forward and amplifying their scale. The sudden emergence of the Web 2.0 marketing techniques demand additional approaches, while most marketers are still wrestling with the first generation, savvy brands are exploring the landscape that social media and social networks create for marketers. These techniques are allowing much deeper drivers in social change to be unleashed, with a profound impact on planning customer connections. The new generation of relationship marketing responds to the additional challenges of digital media literacy and in the right hands can trigger a rebuild of the entire marketing mix through different strategies. Relationship marketing for the Facebook generation demands both thinking and acting differently (Chaffey 2003). Stroud (2007) says that the ability of social networking sites to generate these huge volumes of web traffic is proof of their huge popularity. Google, Yahoo and News International have bought themselves a presence in the social networking arena. The detailed rationale for these acquisitions differs but all have a common theme of wanting access to the enormous audiences. Visitors to social networking sites are significantly more likely than average to visit leisureoriented retail site categories, such as music, jewelry/luxury goods/ accessories, consumer electronics and apparel. Heavy social networking visitors are defined as the top 20% of visitors based on time spent on social networking sites. People typically enjoy sharing their experiences with these products, whether it is to talk about their new iPhone or the pair of designer jeans they just bought. Social networking sites offer the venue for those conversations to occur. Social media advertising is ideal for promoting brand recognition, although click-through rates are not so strong. Still, there is no doubt that advertising via social media sites is an effective way to increase your overall revenue stream (Brinlee, 2007). In today’s technology driven world, social networking sites have become an avenue where retailers can extend their marketing campaigns to a wider range of consumers. Chi (2011, 46) defines social media marketing as a “connection between brands and consumers, [while] offering a personal channel and currency for user centered networking and social Page | 19
interaction.” The tools and approaches for communicating with customers have changed greatly with the emergence of social media; therefore, businesses must learn how to use social media in a way that is consistent with their business plan (Mangold and Faulds 2099). This is especially true for companies striving to gain a competitive advantage. This review examines current literature that focuses on a retailer’s development and use of social media as an extension of their marketing strategy. This phenomenon has only developed within the last decade, thus social media research has largely focused on (1) Defining what it is through the explanation of new terminology and concepts that makeup its foundations, and (2) Exploring the impact of a company’s integration of social media on consumer behavior. Although social media marketing is a well-researched topic, it has only been studied through experimental and theoretical research; studies never precisely describe the benefits retailers gain from this marketing tactic. In reviewing the rich plethora of multi-disciplinary literature, it is has become clear that studies are focusing on describing what social media marketing is as well as examining what factors affect consumer behavior relative to social networking. Despite the initial progress made by researchers, development in this area of study has been limited. Research needs to expand by providing a deeper understanding of the long term promotional gains retailers obtain from social media marketing. More formalized studies are also needed to progress beyond theorized or predicted outcomes in order to gain knowledge of real life applications. This review of literature touches upon the gaps that currently exist within social media marketing research and points out the need for future studies to explore the benefits gained by marketing on social networking sites, especially for small retailers.
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OBJECTIVES & SCOPE OF THE STUDY
Every project is carried out with some specific OBJECTIVE in the mind. Objective is basically the purpose behind conducting a project and unless the objective is certain or specifically defined it is not understood what data has to be collected. Objectives of the project are nothing but what is to be learned out of this project report.
OBJECTIVES: 1. To understand how marketers are using social media .
2. To analyze the social media marketing strategies, marketers will focus on in the future.
SCOPE: 1. The study is based on the survey
2. The study covers the information about,
The awareness of social media marketing
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RESEARCH METHODOLOGY
RESEARCH
Research is a process of finding answer to the questions through the application of the scientific method.
It is a systematic or intensive study directed towards a more complete knowledge of subject studied.
Research is one which always starts with a question or a problem.
Its purpose is to find out the answer to question.
WHY RESEARCH? The purpose of research is to discover answer to questions through the application of scientific procedures. The main aim of research is to find out the truth which is hidden and which has not been discovered yet. The research is necessary because of its utility which is as follows –
Research is an aid to decision making.
It helps in development in new product and modification of existing product.
Identification of problem areas.
It is an aid for forecasting.
It helps economic utilization of research.
It helps in development and maintenance of management information system.
It is helpful in formulation of strategies and policies.
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Research methodology is a way to systematically solve the Research problem. It may be understood as a science of studying how research is done scientifically. In it the researchers study the various steps that are generally adopted by a researcher in studying his research problem along with the logic behind them. It is necessary for the researcher to know not only research methods or techniques but also the methodology. Researcher not only need to know how to develop certain indices or tests, how to calculate the mean, mode, median or the standard deviation , how to apply particular techniques, but they also need to know which of these methods or techniques are relevant and which are not relevant. Researcher also needs to understand assumption underlying various technique and they need to know the criteria by which they can decide that certain techniques and procedures will be applicable to certain problems and other will not. All its means that it is necessary to the researcher to design his methodology for his problem as the same may differ from problem to problem.
Marketing Research Marketing research is a systematic design, collection analysis, and reporting of data findings relevant to specific marketing situation facing the company. So results of marketing research activities are useful in enhancing the decision making ability of organization. To attain the objective widely prevalent questionnaire method was used. The questionnaire was especially designed to take the information about the marketers understanding of social media marketing activities and their future plans. This formed the primary type of data collection and direct interview for analysis purpose.
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Research Design Research design is the plan, structure and strategy of investigation conceived so as to obtain answer to research questions and to control variance. Here the descriptive research design is used and primary and secondary data is collected. The title of the project is the “To analyze the Social media marketing activites used by marketers”. This research study adopted survey and content analysis in order to find the social media marketing strategies used by marketers in branding any product or the service among the target market through social networking sites like Face book, Twitter and Orkut.
Research Methodology For Project
DATA SOURCE
*PRIMARY DATA ( FIELD SURVEY ) *S ECONDARY
DATA
(I NTERNET ,
COMPANY
B ROACHER )
RESEARCH INSTRUMENT
QUESTIONNAIRE
SAMPLE PLAN
PERSONAL INTERVIEW
SAMPLE UNIT
M ARKETING DEPARTMENT
SAMPLING M ETHOD CONVENIENCE (NON-PROBABILITY SAMPLING)
SAMPLE SIZE
50 COMPANIES
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PRIMARY DATA Data that is collected for the specific purpose at hand is called as primary data. It is customized according to the needs of the researcher and focuses exclusively on the current research problem. The collection of the primary data is costly and time consuming. It calls for the greater planning and co-ordination. Collection of the primary data requires deploying more manpower. In situations where it is impossible to use the secondary data keeping in view the requirements of the study or in cases where there is no secondary data available the only way out is to collect primary data.
SECONDARY DATA Secondary data may be defined as the data that has been collected earlier for some purpose other than the purpose of the present study. Any data that is available prior to the commencement of the research project is secondary data; therefore secondary data is also called as historical data. Secondary sources of the data provide wealth of information to the researcher. It often obviates the need of the primary data collection and saves the valuable time, effort and money. Even where the subsequent primary data collection is required, an analysis of the secondary data enlightens the researcher regarding many aspects of the study and gives contextual familiarity of the primary data collection. It thus provides rich insights into the process.
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LIMITATIONS OF THE STUDY
There existed some respondents who refused to respond and these respondents who did not participate in the survey might have affected the Result of the study.
The study is confined to limited area only. Any suggestions given by analyzing data collected may not be accurate for other locations as people requirements and Expectations differ from one place to other.
A sample size cannot always represent the whole population.
Time and money was one of the constraints while conducting the research.
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DATA ANALYSIS AND INTERPRETATION
Do you use social media to market your business? Response
Number of respondents
YES
48
NO
2
Use of social media for marketing No, 4%
Yes No Yes, 96%
Interpretation: It has been found that majority 96% of respondents use social media for marketing their business. It is understood that the new media and its technology is an emerging trend in communication which attracts almost all the people, if they have knowledge of computers. So this digital media has more snatchers towards its communication and internet is becoming part of necessary communication among the students and professionals. Page | 27
Social media is important for your business . Response
Numbers of respondents
Strongly Agree
32
Agree
14
Uncertain
3
Disagree
1
Strongly Agree
0
Social media is important Disagree, 2% Uncertain, 6%
Strongly Disagree, 0
Strongly Agree
Agree, 28% Strongly Agree, 64%
Agree Uncertain Disagree Strongly Disagree
Interpretation From this result, it is observed that significant 92% of the marketers think that social media is important for their business. Social networks have grown rapidly, and some like Facebook, have achieved the mass market and penetrated in a few months since their inception, such applications have infringed their users in different strategy to interact with more people.
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How long have you been using social media marketing? Responses
Number of respondents
Less than 12 months
24
1-2 years
18
2-3 years
6
More than that
2
Years using social media marketing 2-3 years, 12%
More than that, 4%
Less than 12 months, 48% 1-2 years, 36%
Less than 12 months 1-2 years 2-3 years More than that
Interpretation From this result, it is observed that 48% marketers are new to social media marketing with less than a year experience, 52% of marketers have more than 1 year experience of social media marketing.
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Are you able to measure social media ROI? Response
Number of respondents
YES
12
NO
38
Measure ROI
Yes, 24%
Yes No, 76%
No
Interpretation From this result, it is observed that only about 24% of marketers are able to measure their social media and the rest 76% of marketers aren’t aware of the activity measurement techniques.
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Do you analyze your social activities? Response
Number of respondents
YES
35
NO
15
Analyze social activities
No, 30%
Yes Yes, 70%
No
Interpretation From this result, it is observed that about 70% of marketers analyze their social media activities and the rest 30% of marketers don not analyze their activities regularly.
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Is Facebook marketing effective? Response
Number of respondents
YES
20
NO
12
Uncertain
18
Facebook marketing effectiveness
Yes, 40%
Uncertain, 36%
Yes No Uncertain No, 24%
Interpretation From this result, it is observed that about 40% marketers feel that Facebook efforts are working. However most marketers either don’t know or indicated that their Facebook marketing is not working.
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Weekly commitment for social media marketing? Responses
Number of respondents
1-5 hours
23
6-10 hours
18
11-15 hours
5
16-20 hours
3
More than 20 hours
1
Weekly commitment 2%
More than 20 hours
6%
16-20 hours 11-15 hours
10%
6-10 hours
36%
1-5 hours 46% 0%
10%
20%
30%
40%
50%
Interpretation From this result, it is observed that a significant 54% marketers are using social media for more than 6 hours weekly and around 46% using social media for less than 5 hours weekly.
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Benefits of social media marketing? Responses
Number of respondents
Increased exposure
46
Increased traffic
40
Developed loyal fans
36
Generated leads
33
Improved search rankings
30
Grown business partnerships
29
Reduced marketing expenses
25
Increased sales
25
Benefits of social media marketing 92%
Increased exposure 80%
Increased traffic 72%
Developed loyal fans
66%
Generated leads
60%
Improved search rankings
58%
Grown business partnerships Increased sales
50%
Reduced marketing expenses
50% 0%
20%
40%
60%
80%
100%
Interpretation The top two benefits are increasing exposure and increasing traffic. A significant 92% of all marketers indicated that their social media efforts have generated more exposure for their businesses. Increasing traffic was the second major benefit, with 80% reporting positive results. Page | 34
Commonly used Platforms? Responses
Number of respondents
Facebook
47
Twitter
41
LinkedIn
36
YouTube
29
Blogging
26
Others
20
Commonly used Platforms 94%
Facebook Twitter
82% 72%
LinkedIn 58%
YouTube 52%
Blogging 40%
Others 0%
20%
40%
60%
80%
100%
Interpretation Facebook, Twitter, LinkedIn, YouTube, blogging were the top five platforms used by marketers, with Facebook leading the pack.
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Most important platform? Responses
Number of respondents
Facebook
25
LinkedIn
10
Twitter
7
Blogging
6
Google+
1
YouTube
1
Most important platform Google+, 2%
YouTube, 2%
Blogging, 12% Facebook Twitter, 14%
Facebook, 50%
LinkedIn Twitter
LinkedIn, 20%
Blogging Google+ YouTube
Interpretation Half of marketers (50%) chose Facebook as their most important platform, followed by LinkedIn (20%), Twitter (14%) and then blogging (12%). This chart clearly reveals Facebook is the powerhouse platform for marketers.
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How will you change your future social media activities? Responses
Number of respondents
Blogging
34
YouTube
33
Twitter
33
LinkedIn
32
Others (specify)
20
Future social media activities 68%
Blogging
Twitter
66%
YouTube
66%
64%
LinkedIn
55%
Google+ 0%
10%
20%
30%
40%
50%
60%
70%
Interpretation Marketers plan on increasing their use of blogging (68%), YouTube (66%), Twitter (66%), LinkedIn (64%) and Google+ (55%), in that order.
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Social media platforms you want to learn more about? Responses
Number of respondents
Google+
33
LinkedIn
28
Facebook
28
Twitter
27
YouTube
25
Others
20
Marketers want to learn more about 66%
Google+ Facebook
56%
LinkedIn
56% 54%
Twitter 50%
YouTube 40%
Others 0%
10%
20%
30%
40%
50%
60%
70%
Interpretation Marketers want to learn more about Google+, Facebook and LinkedIn.
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LEARNING OF THE STUDENT The internship aimed at challenging interns in conducting srcinal research at the cutting edge of human knowledge and promote interactions with industrialists and entrepreneurs through an immersion in the research environment Internship helped in developing the following skills:
High proficiency in Excel including ability to create reports, work with formulas, charts and graphs
Power Point presentation skills (creating presentations and presenting data and research findings)
Ability to research, collect and evaluate data
Good oral and written communications skills
Courteous and professional telephone skills
Ability to self-direct and complete projects with minimal supervision
Ability to work with cross-functional teams
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CONTRIBUTION TO HOST ORGANIZATION
Conducted in-depth market research and data analysis.
Evaluated methods and procedures for collecting data (such as surveys, opinion polls,
or questionnaires) Expressed ideas, methodology, results and recommendations.
Created clear; insightful, eye-catching reports.
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FINDINGS
Marketers place very high value on social media:A significant 92% of marketers
indicate that social media is important for their business.
Blogging holds the top spot for future plans:A significant 68% of marketers plan on
increasing their use of blogging, making it the top area marketers will invest in for 2014.
Marketers want to learn most about Google+:66% want to learn more about it and
55% plan on increasing Google+ activities in 2014.
Facebook and LinkedIn are the two most important social networks for marketers:
When forced to only select one platform, 50% of marketers selected Facebook, followed by LinkedIn at 20%.
Most marketers aren't sure their Facebook marketing is effective:Only 40% of
marketers think that their Facebook efforts are effective.
RECOMMENDATIONS Marketers should prefer Communication over advertising: people do not prefer buying products through social networking sites. So, if the brand is communicated well and remembered by the audience, then it is a greatest success to the company for their promotion through social media. Promotional way of advertising is best: the usual banner ads and pop-up ads make the users to ignore them. So advertising must be interactive, promotional and in innovative form to hold the audience. It should target the individuals than the mass. If an ad is hosted for a group then that would be no advantage in delivering specified information. Adding more multimedia elements to have more interactive factors in fan pages and group would benefit the brand user. Marketers should also consider the emerging social media marketing tools which include: Snapchat, Vines, and Instagram.
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CONCLUSION Social media is rapidly becoming a new force in organizations around the world, allowing them to reach out to and understand consumers as never before. In many companies, it will move from a “one-off initiative” to be an important, integrated tool in marketing and communications strategies. Use of social media will clearly expand in the coming years. Companies in the survey predicted their use of social media would grow significantly over the next few years, as the awareness of the power of social media has grown in their companies. But as social media creates new opportunity, it also demands a shift in thinking about marketing and the measures of success. Those companies who are most effective in social media now are not only experimenting with multiple channels, but also creating metrics to measure impact and using new tools to understand how to enter into a new conversation with their customers. In the future, effective use of social media will be led by these organizations that are able to enter into this new relationship with customers, employees, and partners. When it comes to really groundbreaking ways of reaching people; social media has so many more legs still to go. We are just at the beginning of this.
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BIBLIOGRAPHY
www.wikipedia.com
Website search from www.google.co.in
Articles from American Association Of Marketing
www.b2binternational.com
Kotler, P., Armstrong, G., Saunders, J. and Wong, V. (1999) Principles of Marketing, 2nd Edition, New Jersey: Prentice Hall
McCarthy, J. (1975), Basic Marketing: a managerial approach, Homewood, IL
Page | 43
ANNEXURE QUESTIONNAIRE
YUVI DIGITAL MARKETING
Company Name: Sector:
Dear Sir/Madam Name: ……………………………………………………………….…………… Contact No: ……………………………………………………..….………………
Page | 44
1. Do you use social media to market your business?
Yes
No
2. Social media is important for your business.
Strongly Agree
Agree
Uncertain
Disagree
Strongly Disagree
3. How long have you been using social media marketing?
Less than 12 months
1-2 years
2-3 years
3-4 years
4-5 years
More than that
4. Are you able to measure social media ROI?
Yes
No
5. Do you analyze your social activities?
Yes
No
6. Is Facebook marketing effective?
Yes
No
Uncertain
7. Weekly commitment for social media marketing? Page | 45
0 hours
1-5 hours
6-10 hours
11-15 hours
16-20 hours
21-25 hours
26-30 hours
More than 30 hours
8. Benefits of social media marketing?
Increased Exposure
Increased Traffic
Developed loyal fans
Generated leads
Improved search rankings
Grown business partnerships
Reduced marketing expenses
Improved sales
9. Commonly used Platforms?
Facebook
Twitter
LinkedIn
YouTube
Blogging
Others
10. Most important platform?
Google+
LinkedIn
Facebook
Twitter
YouTube Page | 46
11. How will you change your future social media activities?
Blogging
YouTube
Twitter
LinkedIn
Others (specify)
12. Social media platforms you want to learn more about?
Google+
LinkedIn
Facebook
Twitter
YouTube
Page | 47
