Business Finance Homework Help

Ashley Shapiro

MondayJun 14 at 5:34pm

Manage Discussion Entry

The best way to find advocates that will be most beneficial to the firm is by word-of-mouth marketing. 64 % of marketers agree that it is the most effective because its coming from a trustworthy source. (Todorov, 2021) social media is a great way to explore new products and hear reviews from consumers that have tried it but there is a flaw. The flaw is that a lot of those sponsorships from social media are paid, and the influencers cannot be trusted on whether they are truly being on honest on the product/service. For instance, if your mother says that something tastes good and she’s been cooking for you for your whole life, you will take her recommendation over a stranger who doesn’t know what you like and they could be lying to you just to get paid. As mentioned before, social media is a great platform to give feedback and to listen to other individual’s experiences/ opinions with a specific product/service. With that being said, there is also a downside to having limited control of what the consumers say about the products. For example, if they do not like the product, they could bring the service/business down with bad reviews. Another instance would be if a certain influencer that is not looked on in a positive light, it could definitely damage the businesses reputation. For example, Jeffree Star had racist videos resurface which hurt a lot of the brands that did collaborations with him. (Mackenzie, 2019).

Mackenzie, M. (2019, June 20). Jeffree Star Apologizes for His Racist Comments. Allure. Retrieved from https://www.allure.com/story/jeffree-star-apologizes-for-racist-comments (Links to an external site.)

Todorov, G. (2021, March 22). Boost of Bottom Line in 2021. Semrush. Retrieved from https://www.semrush.com/blog/word-of-mouth-stats/ (Links to an external site.).

• Tania Ahl
  TuesdayJun 15 at 4:19pmManage Discussion EntryExplain how a firm can go about building an ‘army of advocates’. What is the value to the firm? Give an example.Are there some downsides associated with the amount of control consumers have via social media to spread brand-related messages?Promoting content is a significant piece of substance advertising, so it’s nothing unexpected that industry specialists have thought of many approaches to do it from utilizing devices like Buffer, to advancing your own blog, to making slide decks on SlideShare.Supporters are those clients who gives a positive criticism of a brand and advances a brand and this way an organization can urge those clients to impact others for the organization without compensation. Brand advocates impact others and urge them to purchase an organization’s item. They likewise utilize web-based media for their promotion. Building a social media advocacy program and recruiting brand advocates doesn’t happen overnight.To be able to build an army of advocates is important to keep in mind to plan ahead and have in clear the goals that are set, having a brand of advocates can be useful and always have clear communication, also keeping a brand advocate engage is very important.There is a Tiktoker Mikayla Jane, who almost a year ago decided to quit her job and decided to become an influencer, she became very famous by sharing how to apply makeup and reviewing products, by doing this a lot of brands will be sending gifts, since in this way can get publicity through that. To be able to target strategic influencers like her can be challenging too. ReplyReply to Comment