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Social Media Strategy And Management Assignment

   

Added on  2020-02-24

15 Pages3610 Words27 Views
Running Head: Social Media Strategy and ManagementSocial Media Strategy andManagement

Social Media Strategy and Management 1Executive SummarySocial media refers to the tool through which a person or firm can communicate the information to mass at the same time. Digital media industry is highly influential and efficient to attract the people. Thus creating popularity of brand in the market, with the aid to this tool people have come in contact with innovative technology and it has also provided competence to business. The tools helped the small scale business units starting emerging in the global context as well. Tools like twitter, Facebook, LinkedIn helped the companies to grow, communicate and be a partof social groups. This process also intimated better communication among people and created good customer relationship as well. Further the report provides a view of marketing tools and techniques used by the Commonwealth Bank Australia. Being one of the oldest banks in Australia the company initially didn’t have any contact with innovative techniques to represent themselves in the market. The company used physical form of banking in their business activities. But with the introduction of social media marketing, the company used these tools to diversify their business activities in the global world. Also the company developed certain apps to provide ease to customers in activation of their financial transactions.

Social Media Strategy and Management 2ContentsExecutive Summary.....................................................................................................................................1Introduction.................................................................................................................................................3Company Background..................................................................................................................................3Presence of social media on Commbank activities......................................................................................4Communication with clients....................................................................................................................4In recruitment process............................................................................................................................5Customer services...................................................................................................................................5Attraction of new clients.........................................................................................................................5Social media audience.................................................................................................................................5Social media marketing of Commbank........................................................................................................6Ethics, Privacy, and security........................................................................................................................7Social Media Technologies..........................................................................................................................9Commonwealth Bank application software...........................................................................................10Facebook...............................................................................................................................................10Twitter...................................................................................................................................................10LinkedIn.................................................................................................................................................10Albert.....................................................................................................................................................10Conclusion.................................................................................................................................................11References.................................................................................................................................................12

Social Media Strategy and Management 3IntroductionCommon wealth bank is a banking which is regarded as the first choice of customers in Australiadue to their highly efficient services and schemes. The company has placed as placed itself on the top position in the banking industry of Australia. With respect to the market conditions, it shall be noted that no company can gain competence without innovation technology within the organization. In addition to which the bank also under the social media tools to flourish itself in the changing environment. The organization is using many social media tools for the purpose to promoting its products and services (Commbank, 2017).Commbank efficiently used social media tools and strategies to gain market capitalization of the business. The company also launched numerous social media application to support the customers and gain market capitalization. The company grew in the Australian market because itinitiated to provide services to the customers at their doorstep this feature helped the company to gain greater satisfaction of customers as well. So it can be said that social media helped the company gain the competitive advantage in the banking sector. Further, the, report provides an overview of features which Commbank gained through social media tools and techniques. The report also suggests marketing techniques of the company with respect to social media attributes.Company BackgroundCommon wealth Bank Australia is an Australian multinational banking company commonly known as Commbank. The company is Australia’s one of the largest banking institution listed onthe Australian stock exchange. The company earned a profit of A$ 227 billion last year. The company is growing efficiency in Australian banking sector. The company was originated in the

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