Social Media Marketing.

Today, while reading Business Standard paper, I couldn't wait to read the interview of Mr. Joseph Tripodi, Chief Marketing and Commercial Officer, Coca-Cola Co. on page no. 16 with the headline 'Marketing has gone much beyond spraying and praying.'

The interview was about "Social Media Marketing." The first thing that struck my mind was Ankush Sir's first lecture in which he talked about Social Media Marketing and Proximity Marketing as new marketing concepts and their relevance. 

Mr. Joseph talked about the ways to experiment Social Media Marketing and its budget allocation. Both Companies and consumers should experiment the same even if they fail. Social Media moves consumers from impressions to expressions and finally to transaction. Budget allocation for Social Media involves investment in innovation and experiments. To gauge the transactions, loyalty programs like My Coke Rewards and proper database are of utmost importance. Social Media needs performance metrics like Lifetime Customer Value Analysis to know how to target consumers in a more effective and efficient way. 

Thus, Social Media Marketing can play a very important role in nations like India by helping companies to identify passion  points of their target market.

Participant

Sujit Kumar Jha