Running head: SOCIAL MEDIA STRATEGY 1
SOCIAL MEDIA STRATEGY 14
Table of Contents Letter 3 Introduction 4 Present Company Situation 4 Problem Definition 5 Project Purpose and Scope 7 Approach and Methodology 8 Project Schedule and Time Frame 10 Potential Benefits 11 Contact Information 12 Appendix 13 References 15
The Proposal for Social Media Strategy
07 May, 2020
Dear Mr. Khare,
Subject: Strategic Plan for Developing Social Media Presence for Tech Talk
We are pleased to explore anticipated consulting project ideas with Tech Talk company. We are honoured to discuss information about Tech Talk company’s current performance and plans. We have gained insights into how this company is struggling to attract referral traffic from social media platforms.
Our team has been following careful consideration of our discussions and meeting minutes to analyze prospects for your company by building a strong presence among special interest groups on social media. We are pleased to submit the attached proposal to offer to various technological and strategically well-planned solutions to help you address your challenges. The plan will provide an overview of the purpose, scope, objectives, time frame, methodology, and potential benefits of the services we are offering. As one of the leading Digital Marketing firm, we qualify in providing a successful social media strategy and developing key performance indicators for effective implementation of strategic ideas.
We appreciate your time in considering this proposal. We are looking forward to another meeting to discuss further details and address your queries and concerns. If you agree to the terms and conditions, please sign the agreement attached to the proposal.
We are looking forward to your positive response.
Tech Talk is a premium tech-based business knowledge portal founded by Dr. Aditya Khare and Dr. Arshiya Chak in 2012. The company specializes in promoting knowledge in the domain of information systems and technology. It operates in many different domains enabling the business processes. The articles published are diversified with various topics such as IT-governance, business analytics, information technology, decision behaviour, project management, e-payment methodology, business management frameworks, as well as digital marketing. The company covers comprehensive telecommunication and management technologies.
The objective of the company is to provide a ready point reference for anyone exploring the website. The company performed exceptionally well from 2013 to 2016 due to high-quality content. Soon the founders noticed that most of the company’s traffic was coming from the search engines contrary to meagre traffic from social media. Tech talk publishes case studies that could be used by the businesses as “caselets” for discussing pressing matters. The senior management team is continuously looking for new methods to attract traffics in order to maintain a stronger market position. In the past, the users of Tech Talk enjoyed articles and visited the web portal regularly.
PRESENT COMPANY SITUATION
The company has made huge profits due to its rich web content, which was differentiated from other portals in competition.
· The company differentiated its web portal through graphs and pictures. Infographics were used in the articles and web portals in order to attract a larger group of people. This drew a lot of reviews and views from the website visitors. Tech Talk becomes one of the major competitors of the fragmented electronic publishing industry. However, 84% of the significant traffic came from search engines, while only 4 % of the social media platforms.
· Due to high-quality content, Tech Talk managed to generate revenues and performed reasonably well from since 2013. The portal is a platform to disseminate knowledge, academic research, and experimental methodologies. Tech talk deployed many tools such as social sharing tools on each web page in order to gain attention for valuable content.
· The company was more inclined towards managing partner relations, editing content, and maintaining a diverse workforce of content writers. Soon the founders realized that their articles were followed by many business-oriented people, and their content was shared on different forums. The forums discussed diverse topics such as e-commerce, big data, social media, and the latest technological trends. These changing industry requirements paved the way for founders to think about Tech Talk as a knowledge base for smart technology discussions.
A competitive analysis reveals the threats which the company can face in the coming years
· Competitors are continuously improving social media presence.
· Profits cut down
· The increased cost of marketing
· Declining market share
· Less than 20% of visits from countries outside the USA
· Visitors losing interest due to monotonous content
· Target audience demanding differentiated content
· In-house marketing
· Functional blocks for social media platforms
· Out-sourcing low-cost vendor
· Compliance with ethical standards to avoid legal claims and litigations.
· Increase traffic from platforms such as Facebook, Twitter
· Lack of performance indicators of technology
Project Purpose and Scope
The purpose of this proposed project is to devise a strategy that amplifies the social media presence of the company. The plan aims to increase the traffic from social media platforms in order to seek more considerable attention for great content. The project will provide a narrative description of how the strategy will influence the referral traffic and increase viewership simultaneously. The projects will provide recommendations for improvement and metrics to evaluate performance. This project will be carried out through a research-based methodology. Significant elements include investigating on-going business activities, research about appropriate methods, gap analysis, and recommendations for improvement.
As currently proposed the project will cover the following areas
· Devise strategy to achieve a more extensive user base and traffic from social media platforms in order to sustain growth in the long run.
· Implement software and analytical tools to analyze social networking websites, user groups, interactions, virtual worlds, e-commerce portals, and podcasts.
· Identify key performance indicators to monitor success.
APPROACH and METHODOLOGY
The project will be carried out by carefully planning each step of the process
1. Project set up:
· Detailed research about devising a strategy
2. Develop a model
· A preliminary model will help define the process
3. SWOT Analysis
· SWOT analysis will help identify the strengths and weaknesses of the company and will help analyze opportunities and threats arising in the market.
4. Best Practices Research
· Look for companies who follow the same format in order to benchmark
· The research will be focused on technological solutions with minimum capital required
5. Internal Organizational Research
· Develop a prototype model which complies with ethical standards of using social media platforms
· Identify metrics to measure the performance of the on-going business activities
6. Internal Data Gathering and Review
· Data will be gathered and analyzed in order to a=gauge performance of past practices of the company
· Use tools such as statistical analysis in order to draw necessary conclusions
· Run network analytics to observe network density, layout, and eigenvectors.
· Deploy descriptive analysis such as URL Metrics in order to obtain useful information about top domains followed by the users
· Find the gaps between communication and the company’s value proposition.
· Find out how past practices can be improved and adopt performance-based best practices
8. Recommendations and Implementation Plan
· Develop recommendations to make a continuous improvement that can suffice to long term needs of the company
· Identify core competencies in order to capitalize on them to stay in the competition
9. Presentation of Results
· Develop a detailed draft and discuss with the management of the company followed by presenting the final document
Develop a strategic plan
· Analyze the need for gathering data relevant to facilitate the greater reach of content and organizational profile pages
· Deploy tools to analyze social media market trends and practical approaches.
· Obtain a holistic overview of the company’s main discussion topics
· Identify practices of companies that have a more substantial social media presence.
· Find technological solutions which require minimum resources and perform exceptionally well.
Project Schedule and Time Frame
We will begin our project as soon as a positive response is received from your end. We intend to complete the project and give the final deliverable not later than August 23, 2017. If we receive your acceptance within three days of receiving this proposal, the project will be completed within the given time frame.
|A month from December 2016 to March 2017|
|Project Phase||D||J||F||M||Completion date|
|Project Set up||A||A||A||A||May-20|
|Develop a model||A||A||A||A||Jun-15|
|Best Practice Research||A||A||A||A||Jun-22|
|Internal Organizational Research||A||A||A||A||Jul-01|
|Internal Data Gathering and Review||A||A||A||A||Jul-10|
|Draft Report and presentation||A||A||A||A||Aug-07|
|Final Revision||A||A||A||A||Aug -15|
|Submit Final Report (End of Project)||A||A||A||A||Aug -23|
The project will be completed within a period of four-month. The project will require a minimum of six hours daily on each working day. After the implementation of strategy, the Creative Shell will be open to feedback and suggestions. The company will place the necessary control in order to mitigate potential risks. Consultation services can be provided throughout the period of project implementation.
The project will require acquiring various optimization software such as linear programming solver and statistical tools, which will constitute most of the expenses apart from office supplies and equipment. Some of the costs may incur in acquiring subscriptions for an increasing base of followers. Creative Shell estimates the value of this project to be $80,000 based on the high technology scope and time frame.
Potential Benefits of the Project
The project will devise a strategy to allow Tech Talk to build a strong social media presence across the globe and will aid the company in
· Developing consistent communication with the company’s value proposition so that Tech Talk can achieve organizational goals and objectives
· Generating a keen understanding of how social media platforms work and aligning technological solutions with strategies in order to conduct business activities effectively.
· They are differentiating their content by capitalizing on their core competencies. This will create value for the company as a whole.
· Define key metric for measuring the performance over a certain period
· Develop plans to fulfill the future needs of Tech Talk and stay in the competition.
· Deploy software and analytical tools such as opinion mining, content analytics, and sentiment analysis to analyze the dynamics of user groups.
· Identify top followers of Tech Talk and cluster them according to their interactions.
Details of Project Deliverables
1. One printed copy of a detailed plan of strategies (100-120 pages approximately), including a prototype model with risks and controls along with recommendations for improvement.
2. PowerPoint Presentation containing summarized findings
3. Dataset of all the processes of Data Analytics carried out during the project
4. Details of the software and tools to be used to improve performance
Creative Shell is one of the most prominent digital marketing firms across the country, helping giant business tycoons establish a more comprehensive market base for their products. The company continuously develops and supports e-commerce merchants. The company offers a blend of technical knowledge, domain skills, and effective methodology to its clients. The project for Tech Talk will be headed by Mr. Philip Jones, who is a senior specialist in data-driven marketing.
He obtained an MBA degree in Marketing from the University of Michigan in 2001 and has 15 years of experience working in this field. He has done several projects related to supply-chain management, e-commerce, business analytics, and project management. The MBA courses which relate to this particular project include data-driven marketing, supply-chain, optimization methods, Qualitative and quantitative analysis, and business research methods. He believes in building a strong client relationship in order to effectively carry out processes that are mutually devised and fulfill organizational needs.
Office: Building 456, Valencia street, Upper Cantt, Beijing
Number: +52 045212546
References Kumar, A., & Aswami, R. (2017). TECH TALK: CREATING A SOCIAL MEDIA STRATEGY . IVEY Publishing .
Key indicators for twitter performance
Number of tweets No. of Impressions Profile visits Mentions and retweets Likes Link clicks 348 34750 1848 394 317 248
Music Percentage 87 Movies and Television Percentage 86 Hobbies and Interests Percentage 79 Music and News Percentage 78 Photography Percentage 66 Technology Percentage 65 Tech News Percentage 61 Politics Percentage 60 Business and News Percentage 60 Management Percentage 58
Page Visitors United States Russia United Kingdom Canada Ukraine India Turkey Spain Germany Philipines 29 17 5 4 4 3 3 2 2 2