Businesses, regardless of size, are discovering the criticality of using social media in marketing their products and services. This is due to the fact that majority of people worldwide make social media a part of their daily routine. Whereas the traditional methods still work, the chances of reaching millions of customers from different locations are very high.
Samsung is now regarded as a leading brand in technology. In the past, brands like Apple and Nokia dominated the market. Through the use of various online marketing strategies however, Samsung is able to move to the top rank. Such a claim is evidenced by reported sales and revenues of vendors from the said industry. The challenge, …show more content…
In 2011, Samsung was only second place to Nokia in market share. Samsung took the top spot in 2012 with a market share of 22.7.
The Social Currency
Samsung boasts of 20 million followers on Twitter and 15 million fans in Facebook (Turner, 2013). The CEO of a Vivaldi Partners, a strategic consulting firm in New York, states that the secret to the digital marketing success of Samsung is its effective use of social currency to drive business results. Social currency is defined is the level of engagement by customers with a brand, including their willingness to share the information to others. Samsung has been exceptional in propelling customers into considering to buy and developing loyalty towards the brand. Such is a strategy that other manufacturers failed to employ successfully.
Samsung has put its best in providing its customers and brand loyalists the ability to share their Samsung experience with the people in their circle—friends and family members—by expanding its social media presence. Samsung has been able to create an online environment that fosters advocacy and genuine celebration of its products and services. The figure below shows how customers accessing the Samsung website can connect with their social media friends to tell them about a product that they …show more content…
They took into account the advantages of its main competitor, the iPhone 5 of Apple (Fayer, 2013). They also considered the past successes of the other brands while focusing on the unique features of their own device.
Apart from the direct web sales strategy, Samsung decided to go viral with YouTube. Samsung produced a video advertisement stressing in a subtle yet ingenious manner the major weaknesses of its major contender. The YouTube video tells about iPhone’s high costs, difficulty with buying from its retail shops, incompatible power adapters, and system failures, among others.
With a traffic volume of more than 1 billion per month, YouTube proves to be a valuable tool for marketing a business (YouTube, 2014). According to AYTM Market Research, about 60 percent of internet users visited YouTube in 2013, while 21 percent frequented the social network every day (Fayer, 2013). As shown in the figure below, Samsung S3 commercial in YouTube has a total view of almost 7 million as of November 2014. Samsung sold more than 20 million of Galaxy S3 units during the first 100 days of release, and from then on has sold more than 50 million units (The Korea Times,