The Case of Fortune International Realty - Essay Example

Social Media Marketing Strategy Proposal: The Case of Fortune International Realty As has been identified, the major purpose of the social media strategy is to ensure a sustained communication platform through the use of the social networking tools. Done in the right way, Fortune International Realty can benefit strongly from the active development of strong relationships with customers both existing and prospective in their own habitat. There is a need for Fortune Realty’s management to consider that a successful social media program can even take up to months or a year to be able to be termed as success. These plans should therefore include objectives, audiences, strategies, measurement as well as technology. The critical aspect of the social media marketing strategy has already been outlined above which includes reviewing the ideas and practices that competitors have and also a clear determination of the resources that are needed. This includes the need to have a team in place to not only develop as well as maintain the company’s social network presence. The above plan also outlined how the administration of the site should be carried out. Objectives In this instance, the objectives should act as a guide to determine the manner in which Fortune Realty will behave within this space and also provide the chance for the company to fully participate with the largest amount of confidence. It is important to note that having a purpose will ensure that the company has both a motive as well as guidance for all the engagements that it will have within this particular space. In having a purpose, Fortune Realty will have better opportunity to get more invitations to interact with all its numerous stakeholders. Making a decision on the objectives is key since it will enable a better decision on the technology that will be used. In this instance, Fortune Realty’s objectives are to increase on its brand awareness and visibility. In addition, the company hopes to actively build and manage on its relationships and manage trust and also generate a large amount of word of mouth. Audiences Ensuring that one has a specific audience in mind means that the company will have a far better idea of exactly who it is engaging with because having no restrictions means that there is a greater chance for the message to be diluted. In this instance, the firm’s audience can be its current customers, prospective customers, company staff, and the entire real estate community and business partners both local and foreign. Strategies The first strategy is to actively build relationships with those stakeholders that have been identified as critical even before the social media campaign is launched. For Fortune Realty this means its customers, partners and staff since they are not only highly visible but are considered as a whole to be key members of the community. They will work to increase the odds to favour the company even though the additional advantage might be smaller in some social media channels. The second strategy is personality and this refers to the ability to set up a tone as well as a voice that can be able to clearly communicate across all the efforts that the company will engage in on social media. In many instances, a personality that is strong and consistent is one that is overlooked even though it is one of the most essential elements in social media. When the social media strategy becomes a distinct collection of efforts that are carried out on behalf of the brand, it is important for Fortune Realty to ensure the entire tone and approach remains consistent and outlines one single personality. However, this is not to mean that it should be completely different in the persona that it presents in other media but instead this persona should shift in a subtle manner as it is a reflection of a different environment. Another strategy is determining what can be offered; in this instance, the firm strives to determine the audience and what exactly matters to them. In the case of Fortune Realty this can mean posting relevant news articles or link to interesting articles, active promotion of events that the firm might be holding such as open houses or forums. In addition, social media can be used to engage discussion by initiating dialogue and also inviting feedback. The strategy will also involve determining what exactly will be talked about in the sites and here it is critical for Fortune to ensure that it sticks to key messages since ensuring consistency in the development of the brand is essential towards ensuring success. It is also critical for the firm’s brand page to actively involve the group by asking questions, sharing stories as well as relevant information. There should be a need to not only throw out information but also contribute to discussions and provide the relevant feedback. In considering the social media marketing strategy, Fortune will have to determine exactly what it is it wants from its fans and this refers to the benefits that it wishes to receive. Fortune must consider the type of relationship that it wishes to have with them. In this regard, the firm will have to determine these questions since they will aid in the extraction of specific knowledge that can later be used for the enhancement of the company’s brand. Another part of the strategy is also to actively identify who will be responsible for monitoring and updating the site. This is an important aspect that many firms do not always have knowledge of considering the fact that on social media, the brand is speaking as a person. It takes a significant amount of both effort and practice to ensure that this voice is not only found but also to feel comfortable with it to the extent that it becomes a part of the company’s strategies. Fortune Realty could consider dividing the duties of social networking between the administrator and individuals who have been identified as ambassadors for the brand. In this way, it can be in a better position to actively recruit core audience’s members to not only post relevant information but also begin active discussions. A core part of the social media is ensuring that a continuous presence is maintained since the more that Fortune Realty is found on social media channels such as Facebook or Twitter, the more it will be able to increase on its chances of building a brand presence that is strong. What this means is that the amount of time spent on a site is often linked to the growth of the firm’s presence on the site. However, caution should be exercised since there is a need to ensure that the message being put out on the sites is not only timely but also relevant. It is important to ensure that interesting issues are posted since this is what will keep the members coming back for more updates on the company on its pages. However, the danger is that sending out messages in a manner that is too frequent could lead to users to choose to opt out of updates or in extreme circumstances leaving the group entirely which could be detrimental to Fortune Realty’s objectives of generating word of mouth. It is important for Fortune Realty to engage in numerous channels since a good social media profile is one that has high levels of visibility spread out over several channels. This is because the more the number of people who connect to the company’s social media profile to its existing brand, the better. The firm can begin to increase on its visibility by ensuring that it actively interconnects all its social media profiles as well as web properties. However, this should not all be done at once instead Fortune should spread them out and launch them slowly over a given period of time. Care should be taken to ensure that all the content is interlinked and promoted since this s a way in which to actively gain attention and significantly build influence over time. As part of its social media marketing strategy, Fortune should constantly strive to be flexible, collaborative and be a god listener. This is the only way that it can have a clear picture of the customers wants and also learn from both the employees as well as stakeholders if the firm is to ensure that its strategy is a constant success. In being flexible, the firm can be in a position to both think and learn from its community. Measurement- ROE- Return on engagement As with any other effort at marketing, it is critical for Fortune Realty needs to consider the manner in which it will evaluate the progress and success of its social media campaign. Fortune Realty needs to set out its timeline and examine its progress. For Fortune Realty, the measurement can be done by measuring the number of members coming back to the social networking sites, its amount of incoming traffic from links, the number of people in social media groups and comments being put on blog posts. It is important for the objectives and strategies to be constantly examined and refreshed on a regular basis since this will provide a chance for Fortune Realty to determine whether it is on the right track and to also create the chance for it to remain constantly flexible. In the instance that its content becomes available on social networking sites, it will enable the firm to engage in conversation that will take the company to more places than would have been possible using traditional forms of marketing. In addition, carrying out measurement will ensure that the company has a much easier time setting out the requisite tools and strategies that will enable it to achieve its set out objectives while at the same time creating the chance for the company to clearly and efficiently respond to the community. This can only occur in the instance that the firm remains flexible in nature and check on its progress on a constant basis. The social aspect of this strategy means that this is a constant process as opposed to being a onetime program or campaign. Technology Fortune Realty will need to actively determine the type of vehicles that are requisite for the company’s needs. It will be of a better advantage if the company will be able to build up one as needed and once this one site has been sufficiently set up including its ability to maintain its presence, it can them move on to the next site. Fortune can consider strengthening up its presence on Facebook before moving on to LinkedIn, Twitter and Blogs. Read More