Question: Write a brief paper on the use of one of the following social media tools for marketing purposes.
Facebook, Twitter, Yelp!, 4Square, Instagram, Pinterest, Tumblr, YouTube, Google+, Groupon, Second Life, SnapChat
The paper should cover the following:
Show/Describe the tool: How do you use it? How long has it been around? How many users/subscribers are there? Who are they? Hint: You may have to use Business Source Premier (BSP) to research the tool in order to better understand it as a business leader as opposed to a user! Note: Business Source Premier (external link) (via EBSCOhost*) provides access to academic business economics journals (external link) and other publications (external link) (Books, Case Studies, Conference Proceedings Collections, Country Reports, SWOT Analysis, Working Papers)
User benefits: Why do users/subscribers use this tool? What do they expect from it? Why did they turn to it?
Monetization strategy: How do the owners/developers of the tool make money? What does this do to the user experience? The use of it as a marketing tool? Hint: search BSP or Google the tool and the words monetization or monetization strategy.
Marketing benefits/value: How useful is this tool used overall for marketing? Which industries are using it most? Which companies are using it most effectively? For what purpose (trial, awareness, desire, loyalty etc.) Which industries might benefit the most from using this social media tool? Which ones might not find it valuable?
Sample Campaigns: Describe and show at least 3 successful campaigns/examples of this network's capability as a marketing medium.
Marketing risks: What are the risks involved? How are risks amplified or made greater by the technology involved, the community represented by the network or the standards of behavior on the network?
Epic Fails: Provide three solid examples of marketing efforts that failed on this network. What can we learn from them?
Conclusion: Would you recommend use of this social network in a brand or company's social media efforts and under what conditions? Be specific with regards to types of companies or products that should as well as those that should not.
The presentation should be summarized in a professional level business report of no more than 10 pages, 12 point font, 1 inch margins. The report should summarize the sections above in an easy to read (make use of headings, bullets points etc.) professional like a business report not an academic paper.