Social media as a concept of sharing information’s has impacted so much on the business. The use of social networks to advertise and also exchange business related information has facilitated the expansion of the business at this century (Abeza et al,2018). The technology is coming up with new innovations which are targeting various environments not forgetting the part of the business which have experienced large effects commerce is now done through the use of the technologies .This has boosted the production level in the business .Marketing in social media is therefore a way that fundamentally see to it that companies promote their products and services by a platform that is online through social media channels such as Facebook, WeChat, snapchat Instagram many more basis (Abeza et al,2018). The social media basically creates an avenue in which companies and firms can communicate and also tap a much larger market that may not be possible in traditional marketing channels such as advertising.
We are going to discuss briefly about Onward Holdings Company LTD, social media marketing strategy.
Onward Holdings Co LTD is a company that manufactures and sells men’s, women and also children’s clothing products in various parts of the globe including Europe, Japan North America and Asia (Kaplan & Haenlein ,2011) Alongside manufacturing clothes Onward Holdings also provides accessories uniform, health related and also other cosmetic products. It also sells pet supplies and promotional goods. It’s simply in the textile industry.
Marketing strategy is basically one greatest functional strategy of every company which collectively sees to it the overall business strategy (Kim & Ko ,2012). It ensures that ensures a control of key marketing relationships with competitors. Some of the marketing strategies that Onward Holdings co ltd uses are enlisted below;
It’s basically divide into two, the market leader strategy and the market for the actor strategy. Onward Holding uses only the first one The first one is where the company is far ahead of the competitors and therefore has taken a considerable large share of the market (Kim & Ko ,2012). This basically gives one the freedom of choosing to compete or not against their competitors. We can simply say that the market leader has more options that the others to drastically increase the market share this means that they have a greater power of attracting more customers and also encourage existing customers to buy more. Onward Holdings uses this strategy since its far much ahead of its competitors (Armstrong et all,2015).
This strategy is among one of the commonly used method by Onward holdings. Its commonly used mainly because its suitable in almost all markets. As we all know the primary goal of competition is to adapt to strategically adopt to certain market segments that are strategic of small consumers (Armstrong et all,2015).
Basically its proven that volume of sales in the lesser market target is not large traditionally, but the filler of the market gap usually operates very advantageously. Despite the fact that this method is used by small business also Onward Holdings uses it as well and they are generally focused in segments of the market that are small and are trying to meet their needs as well (Lipsman et al,2012).
Mainly categorized into three; the Leadership expenditure strategy, where the firm primarily focuses all its operations on resources which only guarantee lower cost in the industry in which it working in. Usually the company’s ability to effectively control all its available resources to strategically achieve lower operational costs in the industry and also acquire very important long term competitive advantage (Stelzner,2014). There is also the Differential and the concentration of cost strategy where the company only concentrates on its uniqueness and mostly its always aimed to differentiate the products offered by the company so that customers would see it as unique.
The last but not least is the Concentration of the cost and the differentiation where the company solely focuses on its effort on any aspect of a restricted area of competition within that industry. Here the objective is a segmented market and serving it much better than competitors.
These marketing strategies are used by onward holdings co ltd because they are very advantageous and they greatly give the company an upper hand over its competitors (Saravanakumar & SuganthaLakshmi, 2012).
Among the biggest competitors of onward holding company limited in the textile industry. The mostly commonly used social media tools used for social media marketing are discussed below (Ngai et al,2015).
Through twitter. This microblog was first launched in March 2006. Users can only post updated up to 160 character. There are more than 510 million twitter accounts worldwide and this makes it a tool for social media marketing.
Through Facebook. This was found by Mark Zuckerberg in 2004 with an aim of making the world and people more open and connected. Facebooks allows companies to create pages where customers join and communicate with the company’s representatives (Durkin et al,2013).
In these pages’ companies the company offers special products and deals at discounted prices. Facebook creates a platform where customers express their feelings about a product and also keeps them excited about the company.
By use of YouTube. YouTube was launched in 2005 and is one of the leading video sharing site in the world. Here company’s post short videos of their items and can even go to the extent of demonstrating some of their uses, customers then go ahead and watch these videos which in turn creates a very great impact since they can ask questions and get clarifications through this online platform by commenting (Bélanger et al,2014).
Social media makes use of the so called inbound marketing, where the company makes itself easily found online. This marketing type basically depends on customers finding out the company and its services instead of forcing the information about the company to the customers.
The social media marketing strategy that I have developed for Onward Holding co ltd is the five W’s and one H Communication Model –why, who, where, when what and how (Filo et al,2015). This strategy will make it possible to have a communication that is two-way instead of having traditional communication that is one-way. Mainly due to the fact that Onward Holdings company knows that the relationship with their customers more so the esteemed ones is the most important and valuable asset. This proposed strategy provides structure to social media marketing by assisting in answering vital questions like, why communicate through social media, where to start, when to communicate, what to communicate, who to communicate to and most importantly how to communicate (Eagleman,2013). All this revolves around the target market and how to find keep and sustain the right customers therefore ensuring an upper hand against our competitors. This would be very advantageous to Onward Holdings considering the fact that some of its competitors don’t even have a solid social media marketing strategies apart from just posting their goods.
It’s very clear that without the right kind of information and content then social media marketing will be of no use at all. This proposed strategy however sees to it that all this is taken care of.
The newly proposed strategy is the Five W’s and one H and once the social media campaign has begun there should be frequent check-ups on how the campaign is performing (Boley et al,2013).
Basically this would be made possible by use of preferred analytic tools to find out various important information like who’s reading commenting and reacting or even reposting on our social media posts.
Furthermore, there can be use of insights to find out exactly at what time are fans online and how many of them are actually seeing our posts and who’s liking and commenting on them
Google analytics can also help us know who’s viewing or maybe engaging with our web pages.
Twitter has the hootsuite an easy to monitor dashboard. It’s often very easy to see exactly what customers and the general public are saying about our products thus giving us an advantage (Boley et al,2013).
Finally, all these listed analytics should be matched with the strategies goals to see to it that indeed progress is being made or not.
Conclusion
It can be concluded that any business should first start by defining what its aiming to achieve in social media marketing. Each goal to be achieved should be realistic specific and measurable.
Social media can help in achieving business goals in various ways such as increasing the traffic of the website, constructing conversations, improving brand awareness, creating identity of the brand and increasing interactions and communication and very important audiences (Constantinides,2014).
What is fundamental and most important in social media marketing is ensuring that your posts are done regularly and that they provide valuable information that is likely to capture the attention of an ideal and potential customer. These posts maybe inform of images, infographics or even videos.
It’s also very important to check on competitors and trying to find a way of countering them at any cost without breaking any ethical codes whosoever (Andzulis et al ,2012).
Onward Holding company Ltd can achieve so much by embracing this proposed social media marketing strategy and clinging onto it. It’s very evident that Facebook is one of the platforms in which Onward Holding has many followers and by utilizing this opportunity fully then it’s likely to improve and increase in terms of customer growth.
It’s been noted that also twitter is another platform where Onward Holding id doing really great and its followers is growing with time. This proposed strategy will do nothing than just boost and help the company improve on that (Killian & McManus ,2015).
Reference
Abeza, G., O’Reilly, N., & Reid, I. (2013). Relationship marketing and social media in sport. International Journal of Sport Communication, 6(2), 120-142.
Kaplan, A. M., & Haenlein, M. (2011). Two hearts in three-quarter time: How to waltz the social media/viral marketing dance. Business Horizons, 54(3), 253-263.
Kim, A. J., & Ko, E. (2012). Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand. Journal of Business Research, 65(10), 1480-1486.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.
Lipsman, A., Mudd, G., Rich, M., & Bruich, S. (2012). The power of “like”: How brands reach (and influence) fans through social-media marketing. Journal of Advertising research, 52(1), 40-52.
Stelzner, M. (2014). 2014 Social Media Marketing Industry Report. Social media examiner, 1-52.
Saravanakumar, M., & SuganthaLakshmi, T. (2012). Social media marketing. Life Science Journal, 9(4), 4444-4451.
Ngai, E. W., Tao, S. S., & Moon, K. K. (2015). Social media research: Theories, constructs, and conceptual frameworks. International Journal of Information Management, 35(1), 33-44
Durkin, M., McGowan, P., & McKeown, N. (2013). Exploring social media adoption in small to medium-sized enterprises in Ireland. Journal of Small Business and Enterprise Development, 20(4), 716-734.
Bélanger, C. H., Bali, S., & Longden, B. (2014). How Canadian universities use social media to brand themselves. Tertiary Education and Management, 20(1), 14-29.
Filo, K., Lock, D., & Karg, A. (2015). Sport and social media research: A review. Sport management review, 18(2), 166-181.
Eagleman, A. N. (2013). Acceptance, motivations, and usage of social media as a marketing communications tool amongst employees of sport national governing bodies. Sport Management Review, 16(4), 488-497.
Boley, B. B., Magnini, V. P., & Tuten, T. L. (2013). Social media picture posting and souvenir purchasing behavior: Some initial findings. Tourism Management, 37, 27-30.
Constantinides, E. (2014). Foundations of social media marketing. Procedia-Social and behavioral sciences, 148, 40-57.
Andzulis, J. M., Panagopoulos, N. G., & Rapp, A. (2012). A review of social media and implications for the sales process. Journal of Personal Selling & Sales Management, 32(3), 305-316.
Killian, G., & McManus, K. (2015). A marketing communications approach for the digital era: Managerial guidelines for social media integration. Business Horizons, 58(5), 539-549.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download
