It is true to say that internet has revolutionized the way people socialize and interact with each other. It is through social media that companies like Facebook and Twitter are thriving. In business marketing, the social media provides a wide platform where the various companies can showcase and advertise their products using the online platform (Facebook, 2013).
This goes a long way in helping the company to save on the advertising costs. In addition, the products reach a wide platform of people globally. In major fashion companies such as Hugo Boss, the presence of social media has greatly helped them in customer relations. In this case, the company is able to get feedback from customers on the various products from the whole world. They are able to showcase the different variety of products that they have manufactured. This creates awareness among the consumer. The company has been able to also get views through customer interaction through the social media. It has also been able to get the various online orders from various consumers (Facebook, 2013).
The company has been able to enhance both customer’s quality service delivery in partnership with the social media giant Facebook. The live interactions with the company to the clients builds a mutual relationship where they both benefit from each other. As per now, through Facebook, the Chicago based fashion Line Company has over 3.3 million likes. This is a clear indication of how social media has influenced the marketing of some companies (Facebook, 2013).
TABLE OF CONTENTS
Executive summary…………………………………………………………… 1
Facebook company profile………………………………………………………….4
Mutual benefits analysis between Facebook and Hugo Boss…………………..6
Facebook is the world’s leading online social media platform. The company was founded by Mark Zuckerberg in 2004. This company was started as a social network by the Harvard University students. They received their first funding of half a million dollars from Peter Theil. This helped them establish the company in Palo Alto, California. The founder, Mark Zuckerberg refused to sell the company for ten million dollars and instead sourced for a 12.7 million dollar funding that enabled it to open up to high school students, and later to the whole world. The company grew to be worth over 50 billion dollars by the year 2011(Moreau, 2013). Zuckerberg stand for the company’s employment focuses on the use of talent among the youth. The founder has insisted on promoting innovativeness and talent growth.
The Winklevoss twins and Wayne Chang’s filed a lawsuit against Zuckerberg as they blamed him for stealing the idea from them. The case was settled in June 2008, and thereafter, the company continued with the system upgrade in order to satisfy the user needs by adding friend feeds and the red notification, video chat features and new timeline theme. On May 18, 2012, Facebook was announced a public company and started to trade its shares for $38 per share thus increasing the company’s value from $100 billion to $104 billion. Facebook has been able to open over 32 offices in the entire United States. It has been able to create a culture of making an interactive and social world. This comes in handy with the employee insurance cover polices (Moreau, 2013).
Facebook has been able to endure a wind of challenges. This includes the threat from a hacking group, which did not reveal their identity who wanted to hack into the Facebook core and tamper with the user information which is the vital users’ information on November 5th, 2011 (Moreau, 2011). Mark Zuckerberg is currently faced with Tax debt of about $13 billion And tax debt of $1.1bilion for last year. This total adds up to 48.3%, those arising from the stoc0k exchange rates in his shares (Cowley, 2013)
Facebook has been able to make its profits through company advertising, the various applications they have acquired such as instagram and the shares which they have traded in the stock market exchange. The company has grown to its own standards to the extent of even rejecting other technology giant’s offers such as Yahoo and Google. To acquire the company, the company has incorporated social media marketing. In this case, organizations and business companies use the website as their marketing tool through advertising of products in order to reach a greater market by opening groups and pages.
Facebook has been able to showcase their new products and the new range of applications that aid in service delivery to other Facebook users. This is achieved through the Facebook home page created. Also this has enabled the company to be able to deal with customer service delivery on time and interact through the same page.
Mutual Benefits between Facebook and Hugo Boss
The Facebook mission being to make the world more interconnected and open it has been able to grow and achieve this by the views of people and companies about how they interact and are more interlinked to one another and how they have been enabled to reach the vast market consumers. Advertising on Facebook is estimated to reach over 1 billion people; advertisers are urged to use the Facebook ads indicating the personal details things such as locality, sex, hobbies and age. The sponsored stories segments enable the market frontiers to increase the story distribution to more people who likes their page (Facebook, 2013).
Among the benefits that Hugo Boss has been able to reap from Facebook advertising is the ability to remain relevant to the eye of consumers in the markets, the ability to guide its customers to purchase the clothing’s and the fashion accessories directly from their shops, they have been able to make people more familiar with the products in the company by uploading the product photos/ videos and the increased sales of their luxuriant fashion accessories (Facebook, 2013).
The Hugo Boss company has embraced fully the use of social media. In this case, the company has been able to create a Facebook page in order to reach the targeted audience. Through Facebook only the company has over 3.3 million likes, the social media platform has also enabled the company to be able to showcase their various items, this ranges from the magnificent men and women wear the perfume brands and fashion accessories. The consumers of their products are able to give a personal feedback of what they feel about the product whether good or bad. This helps them work significantly towards the users’ needs. The company posts photos and upload videos of their new products on the same page in order to get feedback from customers before launching it to the market. This enables them to keep up with the demand in the market and the competition arising from other fashion companies (Facebook, 2013).
The company has been able to gain general world wide recognition. This is through the sponsorship of various sporting events that take place globally and the utilization ability of the online platform. Facebook consumers have befriended the company for various reasons. This can be attributed to various factors. Some want to maintain a cordial relationship with the company so as to acquire the sponsorship of the different sporting activities thus building and marketing the brand name in return. Other customers want to interact freely with the fellow customers on the company’s page in concerns with the products. The customer may be in need to confirm whether the product bought is genuine, so he/she posts the photo and interacts with other customers and employees on the page.
The Company has been able to display notes to their Facebook page customers, the elements written include the little dragon tour dates of European countries and the spiritual notes. Through the Hugo boss talk which its aim is to come up with a mutual benefiting conversation via the well arranged guidelines of the company. The conversation might be between the online customers who have liked the company’s Facebook page and the well known fashion icons around the world. Under the Hugo boss talk both personal and public related staff is talking about and the video gets a chance to be uploaded on their Facebook page (Facebook, 2013).
Through Facebook, the company has been able to advertise their future events in their different stop shops globally and the number of guests they will be hosting in each event. This includes the Hugo Fashion show Fall 3013 Live Stream in Berlin hosts 300 guests, Vogue Fashion’s Night Out in Berlin and Germany with 9 guests in attendance. The brand was founded in January 2, 1924 and is attributed as the mother of fashion in Europe for its authentic range of wears from men women and children’s wear.
Internet marketing is the use of computers in communicating commercial messages to the required personnel. This allows businesses to be able to launch new products and create awareness among the targeted customers. It also enables the company put out its work plan timetable for the various corporate events that will take place in the specified period. This clearly offers a ground for product advertising. It is considered as the only source of advertising a product. The return income gained from the product advertisement is higher compared to the money used in advertising the product.
There are massive benefits reaped from using e-marketing. In this case, one stays in touch with his/her customers and gets the view that will help them improve significantly on their business. Blogs and social media platforms carry the day when it comes to the E-marketing. In this case, many companies have migrated from the use of traditional advertisement to the digital forms of advertisement. The income that is usually generated from the sales of the advertised products are the core factor that prompted the move to E-marketing. In social media content is published and edited by the original employer and not his/her employees since it upholds company-customer discussions about the product, likes and comments.
According to consumers from the market, most of them prefer to view and even order their products from the company through the use of the digital media. Marketing campaigns whereby the company creates awareness of their products to the customers also enhance the growth of the businesses, Facebook offer the perfect online ground when it comes to this from the company can create their own Facebook page and post both photos and videos of their products for their viewers to see. Due to the E-marketing there has been a drastic increase in sales and Facebook adds more to this whereby the consumer and the company agents can hold sales conversations, valuable feedback from customers .
Hugo Boss Company has launched its own Electronic commerce store due to the increased competition pressure arising from other global fashion competitors; they had the idea in order to tap into the Chinese internet market which has a daily number of users reaching 5000 million. This has prompted them to become more innovative and create their own marketing site. This will make the online market customers create a new kind of interest in the company and its wide range of fashion accessories. Standalone websites enable companies to allow the customers shop online and get free delivery in the next 24 hours. The cash on delivery system to be used for the online shoppers and to increase the company’s gross income since it will be more relevant to the consumers (Victoria , 2013).
In terms of the social media they are left with the option of being creative in order to keep the company’s name alive in the minds of the social media community which is a great market. The company has further integrated into creating an E-mail reminder application for its stakeholders, which will be able to remind them of the important events that will be taking place in the company’s annual diary of events. This will increase the company’s profits greatly whereby they will be able to attract more shareholders in the company and more customers during their world wide chain of events. The company has enabled the E-market consumers to be able to sign in to their website thus they can receive communication on their orders and also be able to subscribe to the online magazines that gives the customer a guideline of their products and also the different variety of fashion accessories with the price and discount (Victoria , 2013).
E-marketing relies on various strategies in order to become a successful internet marketing company. One should make the website easily available to the vast internet users in the world. This is vital in the role of internet marketers. One should consult the various experts in the same field in order to gain the required technical mindset in the advertisement of your products. It is advisable to always have a cordial relation to your customers through blogging on a regular basis since this will enable you to get customers’ views on the product and the employing of commenting sessions with your customers (Victoria , 2013).
Inbound marketing is encouraged whereby one is making his or her business available to customers who are in search of what is on offer. Unlike in traditional marketing where one is required to solicit for customers through employing of poor methods such as the use of junk mail, in internet marketing marketers have employed the use of social media, which promotes authenticity and uniqueness in advertising. In order to get the targeted fans and customers on the Facebook media, one need to create a fan base that shows a lot of emphasis and interest towards the product and recommend it to the online friends you have.
To begin with, consumer generated content in social media is a wise step in moving away from the traditional mode of advertising. Therefore, small business advertisers should install the Facebook ads so as to create awareness of their products, create a sudden interest of the product among consumers, and make the individuals in the market really want the product.
Secondly, through social media, the small businesses should take advantage and establish the customer enticing techniques. This may include reviewing the product and uploading the video review online, the use of agents to explain the advantages of products to the consumer, giving out some discount on the product can lure customers to purchasing the product, use of the scarcity of the product to create the desire among the customer and through consistent service delivery to the consumers can enable small businesses to make the customer want to buy the product (Reddy, 2013).
Thirdly, small businesses are recommended to build some trust between them and the consumer since some consumers are still suspicious about the social media mostly when the brand is still upcoming and not internationally recognized business. In return, Facebook has decided to move the social media conversations to the next level by adding another feature on its site that will enable people to have conversations around posts, this goes a long way in enhancing the direct conversational engagements between consumers and the service providers in the business field (Lunden, 2013).
Facebook has become the best advertising ground for companies. This can be attributed to the number of likes certain brands have been received on Facebook alone. This can serve best for the small businesses that would like to portray their products to the vast social media market (Redsicker, 2013).
There are important things that small business should consider in order for them to stay relevant in the market and also to the consumers. These are use of talent in the advertising sector is required and a well trained staff. User generated content in social media offers something unique whereby instead of inviting consumers to your small business apartment to come and view the product themselves, you can easily put advertisement photos of the product on the social media page and allow the viewer to comment about the product as you give the feedback (Facebook, 2013).
For small businesses to excel, Facebook has created a brand network that will empower the small business to turn into a great business. This is achieved using the social media platform. In this case, the small businesses will be able to reach the online customers and communicate with them on the product quality and even the discounts provided. This has been easily achieved through the Facebook marketing Program that has been developed (Facebook, 2013).
To the markets, Facebook offers its strong audience presence due to its potential number of users. The markets are present at both levels from national to continental to international levels. This can be a very potential market if tapped into by the very market organization such as Hugo boss. At the moment, on the social media platform, over 44,000 people are talking about the Hugo boss products on their Facebook fun page since it was created from 2009. This has enabled the company to be able to grow from the increase number of sales of their products both in the market retails and online platform. Hugo Boss Company has been able to advertise their vacancies and pick over new applicants through their fan page. The various fashion designers and other clothing career personnel’s have been offered an online platform to have the Hugo Boss experience through receiving the attendant passes to the various fashion shows organized by the company and also upload various pictures and videos on the company’s page (Facebook, 2013).
Small businesses are usually urged to have a corresponding plan towards the social media platform. The plan might be a strategy in their product marketing ability. After one has acquired a Facebook page for the company, one is urged to create customized tabs. This will enable the customers be able to view the relevant information and lead them to the various subsequent contents they are required to view (Shapiro, 2013).
Tabs should always be updated due to the increase in competition thus will enable smaller businesses remain relevant or even grow to a certain extent. The owners of the page are urged to be frequently posting their new ideas and views and by not doing their customers will think of them not caring for their business, use of the Facebook ads is important in advertising aspects to a specific locality or a group of people. This is usually upheld by having a dialogue between the business owner and customers in order to get their views and urge them to sign up in order to promote your product in the market and help your business grow to another level. One is usually advised to turn the fun activities into a marketing platform on the internet such as the sponsored stories in order to make people like your page (Shapiro, 2013).
In conclusion it is crystal clear how the social media has offered the perfect platform for the Internet Marketing (E-marketing), all this is in relation to the consumer-generated content change in the way the markets behave. Facebook in conjunction with Hugo Boss fashion Line Company is clear on how they have both benefited from this since the Hugo Boss company has been able to have a communication channel where customers can view the products through their Facebook page and give feedback to the company whether positive or negative. This has enabled the company to grow both in customer relations and the quality production , on the other hand Facebook has been able to live to its mission of interlinking people to the various organizations in the whole world. Facebook has outlined its plan of growing the small businesses to become big companies through the enrollment of small business marketing programs.
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