Blog Entry 3b

How SMMF helps to interpret what is happening in the financial service industry?

In last blog , we talked about SMMF in the Kylie Jenner’s cases. But how about financial service industry? In my opinion, currently, financial service industry using social media as a communication tools between company and their customer. In this century, using social media is human need to make every activity easier.

For Scope variable, there are many financial service industries using the social media to share their content. Berger stated that 49 of 50 financial service starting to use social media as a marketing tools (Berger, 2017). Even though the financial service is quite slowest than any industry (Berger,2017), they are starting to embrace and taking consider to looking on the resource to boost the social media marketing.

In Culture dimension, financial service industries could use the social media function to communicate and do promotion of their product. Dopson said, using interactive content is more effective at educating a buyer. Although, we should learn about the changing of algorithm of social media that could pushing our content and brand (Dopson, 2018). For the good example, I took from Dopson article (Dopson,2018) about how to HSBC communicate and have engagement with their customer.

For the structure dimension, role of marketing director is a need to evaluate the marketing strategic and helping from the employee to become great customer service for online customer is an important task.

Last, in the governance dimension, financial service industry should understand in every service that they give to the customer, the review will be posted on the online. Dopson give advices to still encourage and respond to the customer review (Dopson, 2018). These are giving a link to leave a review in transaction confirmation emails, future incentives, and personally follow up the long-term customer to share their experience (Dopson, 2018).

References:

Berger, E.  (2017, December 12). Making Dollars and Sense of Social Media and the Financial Services Industry. Retrieved from:  https://sparkgrowth.com/making-dollars-sense-social-media-financial-services-industry/

Dopson,E. ( 2018, December 06). Social Media Marketing for Financial Services: How to Get More Paying Customers in 8 Easy Steps. Retrieved from: https://www.sendible.com/insights/social-media-marketing-for-financial-services

Blog Entry 3a

Social Media Marketing Framework (SMMF) of Kylie Jenner’s Cosmetic

Who doesn’t know Kylie Jenner’s Cosmetic? Kylie Jenner is an American Celebrity and owned the cosmetic company in 2016. Based on Wikipedia, Kylie owned $800 million of value company in 2018 and $900 million in 2019. That’s make Kylie the youngest self-made billionaire with $1 billion personal net worth (Wikipedia Contributors, 2019).

This main factor that could make Kylie’s product become like this is because of social media engagement. According to the BBC News, Kylie wiped $1,5 billion dollars off the value of snapchat and when she posted the images of her new baby, she got 11 million likes in few hours (Chaffey & Ellis, 2016).

In this case, we will discuss about Social Media Marketing Framework (Felix et al., 2016) of Kylie Jenner’s engagement between her product and social media. Based on Felix et al. (2016), there are 4 variables to social media marketing and we will apply these variables to Kylie Jenner’s cases.

  • Scope

This variable talk about kind of social media that used as a one-way communication tool. Kylie Jenner used the Instagram to promote her product. Instagram become the strategic core promotion of Kylie Jenner product. Zilles said Kylie choose the right platform to become core social media (Zilles, 2019). Instagram has an advantage that have a highest visual image (Zilles, 2019) and Instagram is a platform to share images and video. In my opinion, this strategic is answered that from Instagram, they provide content that make readers and users interest with their product (such as video, Instagram Shopping, photo). Also, there will be interaction between companies and the end-users (Chaffey & Ellis, 2016). Kylie Jenner also give the customer the friendly shopping experiences in the official Kylie Cosmetics website.

  • Culture

For this variable, we will talk about how Kylie Jenner’s social media promotion style such as is that flexible or open with the style of social media platforms. Hiller stated Kylie Jenner is an ultimate influencer in the social media (Hiller, 2019). In Kylie’s Instagram, she used the Instagram Shopping to approach her followers. In other function, the company also used the IGTV to introduce the product such as make-up tutorial with Kylie Cosmetic. The interest fact about Instagram is there are rise popularity Instagram story (Hiller,2019) and the company used the Instagram Stories to introducing their product with creative content.

  • Structure

In Kylie Jenner content, she got help from her family to increasing the engagement in their content (Hiller,2019). Every Kylie Jenner posted images or video, she always tagged @kyliecosmetics Instagram to make sure that her follower got easy directly to the company Instagram. Well, I could say this strategy is success. Beside the Kylie is an ultimate influencer, she could make the @kyliecosmetics Instagram has 21,7M followers in 3 years. On the other hand, MAC Cosmetic (could said the one of many competitors) just has 22,5M followers and Benefit Cosmetic (that have a same style with Kylie Cosmetic) just has 9,6 M followers in their Instagram.

  • Governance

In @Kyliecosmetics Instagram, there are a lot of make-up tutorial with many looks that could help their customer applied the make-up tools. If I could say, Kylie Jenner wants to educated their customer and give them many ideas to applied the product. Also, Kylie wants to tell that just with #Kyliecosmetics, their customer could create any looks for any conditions and for anyone.

So that’s all from me. Have you any idea or any thoughts about it?What do you think about Kylie Jenner’s strategic marketing? Please share with me! Thank you! Xoxo, El!

References :

Chaffey, D., & Ellis-Chadwick, F. (2016). Digital marketing (6th ed.). Harlow: Pearson.

Felix, R., Rauschnabel, A. and Hinch, C. (2016) Elements of strategic social media marketing: A holistic framework, Journal of Business Research, 70, 118–26.

Hiller, L. (2019, March 11). Behind Kylie Jenner’s success in a saturated cosmetics industry . Retrieved from:https://econsultancy.com/behind-kylie-jenner-s-success-in-a-saturated-cosmetics-industry/

Wikipedia contributors. (2019, August 24). Kylie Cosmetics. In Wikipedia, The Free Encyclopedia. Retrieved from: https://en.wikipedia.org/w/index.php?title=Kylie_Cosmetics&oldid=912298082

Zilles, C. (2019, March 29). What We Can All Learn From Kylie Jenner’s Social Media Game. Retrieved from: https://socialmediahq.com/what-we-can-all-learn-from-kylie-jenners-social-media-game/

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