New Media Marketing Activities Hewlett-Packard - Case Study Example

New Media Marketing Activities - HP New Media Marketing Activities –HP Outline: New Media Marketing Activities Why New Media Marketing? Hewlett-Packard Company The Era Of the Digital Marketing Hewlett-Packard & E Marketing New Branding Strategies The Blogging Facebooking Podcasting Wikipedia Recommendation Conclusion Work Cited New Media Marketing Activities New Media Marketing (also refer as the Podcast Advertising) is a concept that defines the new concept today’s businesses uses in developing an on the net community. It permits successful individuals to assess and gather the virtues of any particular brand. In most cases such an online community makes use of blogs, message boards, Wikipedia, product reviews, podcasts and other online forums all of which forms the gateway for discussion, criticisms, suggestions and encouragement. One of the central reasons for promoting new media marketing is the premise that old advertisements have lost their charms and are incapable of generating a required influence on consumers. Statistical analysis supports that there has been an evident growth in the rate of online consumer purchase with off internet research and referrals. Many believe that consumers are more inclined to rely on third party and neutral references rather than corporate marketing itself. In other words, consumer’s reliability increases with an increase positive feedback from like-minded peers. This has lessened the influence of traditional radio, direct mail, television, or newspaper advertising. Although this even, mean that the businesses would expose their weaknesses to the marketplace by allowing competitors, individuals to post critical comments, with a side-by-side arrangement for customer satisfaction analysis. Effective marketing of new Media Marketing requires an Internet-driven technology such as blogs, Web video productions, RSS, podcasts and social networking platforms. Why New Media Marketing Activities? It might be possible to have your very own official company’s websites or social networking forums and still not be so popular. To maintain or drive customers to your business in order to effect into the full potential of the internet would require an effective digital promotional strategy. Whether you are interesting in upgrading your existing website, want to build a increase twitter following, want to increase face book following, get thousand of videos on YouTube, want to portray an improved brand image, require new means of advertising and hence increasing the network of your official websites, new media marketing can do all that for you. New Media Marketing is the full-service digital marketing campaign that ensures design and implementation of innovative, high-impact and cost-effective digital marketing. The rapid growth of the Internet usage over the past decade has present new opportunities, expand geographical reach, to increase commercial revenue and consolidate brand awareness, this cannot be ignored; for if your business does not exploit these opportunities, then be sure that your competitors will! This paper would fundamentally highlight the impacts of new media marketing activities. This paper carries out case study in reference to world famous, Hewlett-Packard Incorporation. Hewlett-Packard Hewlett-Packard Company (HP) is an American multinational corporation headquartered in USA. HP specializes in creating and manufacturing data storage, computing, designing software, networking hardware along with delivering services. Products include enterprise & industry standard servers, PC devices, networking products, software related storage devices, and a diverse range of printers along with so many other imaging products. HP’s 2007 revenue of $104 billion (HP reports fourth quarter 2007) made HP the first ever IT to report revenues exceeding $100 billion. (The Race to $100 Billion).In addition to this, in 2008 HP retained its global leadership in hardware industry (HP worlds largest) HPs shared net revenue in 2010 was $126.3 billion. (10-K Hewlett-Packard Company, 2010) HP’s excellent e-marketing business The Era of Digital Marketing The growing effectiveness of digital media has totally changed the way marketers now interact with customers. Modern age customers are empowered and fully aware of market. The challenge for HP therefore arises in being competitive in knowing customers need. This would require HP’s involvement in customers thought process. Therefore, the need to adopt online mediums such new media activities, email marketing, display ads and online search engines grows speedily. The central cause behind such media schemes is that they are the best data extracting schemes with best cost effective methods to make a comprehensive analysis. These techniques shed light on the importance of all marketing activities, thus helping HP fine-tune it’s strategy. In the end, this enhances customer engagement, optimizes digital “marketing spend” and has a direct impact on revenues. Compelling benefits motivate organizations to build their marketing dollars from old to digital channels. For starters, digital channels confirm better and cheaper access of broader customer base. In addition to that, these channels offer the ability to customize marketing messages and improve the capture along with the analysis of customer responses. All this knowledge can be use to quickly refine of marketing and sales tactics. According to Forrester Research Inc., less than 20 percent of incorporations expect to accelerate marketing spend in traditional media, like newspapers, magazines, TV and direct mail. HP And E Marketing HP is in the digital revolution. It is therefore making significant investment in new media marketing activities to affect demand, retain customers and provide technical support. HP’s E-marketing strategies need evaluation using a 3 C’s themes: 1. Community This deals with the aspect of engaging consumers and creating awareness in them about HP products and services in effect moving towards retaining and generating market share. What are the consumers saying about HP? An analysis would reveal how relax and satisfied the customers are. 2. Content This aspect deals with the giving customer relevant content and improving the user experience. How helpful are the methods; For improving customers’ awareness about products Use for increasing lead generation Use for improving the user experience 3. Commerce This aspect deals with the generation of revenue through online commerce. However, the effectiveness would depend on: The profile of online consumers The product demand profiles Effectiveness of HP’s promos and offers Using the above three criterion every e-marketing strategy would be evaluated using a three step process: Measure effectiveness Predict Outcomes Optimize Outcomes New Branding Strategies used by HP Blogging: Blogs are important because of their three main attributes, the reach, content and the trust that people place on them. For HP blogs are good because they present opportunities to learn how different people perceive HP’s brand. It also helps in engaging with the audience. Demonstrating an ability to show concern about customers would also help build goodwill for HP. Blogs are great marketing tools. They are a great way to communicate with industry members, staff, investors, journalists and future customers. For HP to utilize fully the blogging strategy it is important that it forms an outline strategy and establish guidelines before actually starting the blog. This is for the management of high traffic that results in from its contributors. For this new branding strategy to work HP, must clearly define its sensitive information and hence retain the accessibility of sensitive sides to permissible people only. If HP does not make use of such, there is risk of breach of privacy or HP’s competitors getting access to HP’s sensitive information. If HP follows the above strategy of restriction along with ultimate ability for rest of the bloggers to express both positive and negative comments on approved topics, it can utilize such to manage to read its customers perspective. Besides promoting a brand, blogging can also help to gain immediate feedback on HP’s developments. However, there is one disadvantage of using blogging as a customer feedback tool as blogs provide only a snapshot of audience sentiment regarding HP. Facebooking: Another of the famous new media networking has been coin as Facebook. Recently this social networking agency has surpassed 500 million users. (Facebook Statistic, 2011). HP has been using this social networking service as a place to brand itself. With over 22,000 fans on facebook HP continues to promote its brand. (HP on Facebook, 2011). In reality many of the HP most young and middle-aged employers and employees not only have a Facebook account, but also regularly update and check their fans on happenings. For HP this helps adding value in keeping connected with consumers from all over the world. However, these networking agencies require constant update and correspondence from both sides, a unilateral exchange would only work against the brand. Podcasting A digital radio or video program downloadable from the internet is term as the podcast. A podcast is a digital radio (or video) program from the internet. The word ‘podcast’ was 2005 ‘word of the year’ (Oxford American dictionary). Podcast begin as an audio blogging technique but now it is even use as the video device. A podcast can even be term as an audio and video program that release in episodes and often is download though an internet. Podcast even works on the principle of storing files locally on the user computer or any other device ready for an offline usage, this results in convenient and easy use of episodic content (Podcast Production, Oxford University Press 2009/10) Podcasts offers an incomparable opportunity for brand promotion. The best thing about podcasting is that the content reaches the target markets without any media channel persuasion to carry out such content distribution. This even means no requirement to pay huge advertising rates what so ever. HP has been using podcast to market its products. HP Enterprise TV offers Online Videos and Podcasts that covers Imaging & Printing| Multifunction These are there To listen to an audio or video podcast. All one needs to do is to mouse over the title and click Play over the audio podcasts. Open iTunes to download or subscribe to podcasts (hp enterprise TV online-videos/id311827272) Podcasts have been advantageous to HP. They let HP create highly relevant content and then use such to promote its products in specific or target market. The podcast even let HP measure its success through seeing many number of downloads and subscriber to its videos and audios. The content is even controllable by HP and as the exposure is to an unlimited market that is internet there are no content boundaries. Podcast let HP create videos that add value to its brand. See how brand essence comes to life through these new branding strategies, an example is this hp website (http://h30418.www3.hp.com) Podcast helps HP become a responsive organization as it allows content alteration according to the comments of the audience. This helps bridge up difference between the customer demands and the supplier’s services. Hence, this actually provides a conversation medium to HP through relatively inexpensive mediums. However, if the HP does not provide excellent quality videos or audios there are chances that customers would instead unsubscribe to its videos. Usually the pop ups and extra service is not like by the people. Therefore, for the customers to keep using the service HP has to maintain the quality of its service. Moreover, unlike the traditional media the new media marketing activities create possibilities for its users to forward the videos and audios campaigns therefore there are more chances that people get away without watching. In this way, the purpose would not serve. Therefore, for the podcast success, these have to be interesting and market targeted. Wikipedia and HP Wikipedia is an interesting website that provides a free online encyclopedia for all users. These days the traditional means of getting information have been extinct because new media marketing activities. HP Incorporation and details about its products and services can easily be available on the internet through this open encyclopedia available to all. The most countable benefit of wiki over others is its constant update information unlike traditional encyclopedias for which customers had to make investment in buying a new copy. Recommendations What HP could do? To promote brand and new media marketing activities to work there is a dire need of keeping all Information Interesting: Reputable and Consistent information will give HP brands credibility on all current along with future profiles. When the company will have fans throughout five or six varying social networks it is essential that company’s’ image to hold true as per any due diligence. HP should ask itself what people want to know about it and what type of information does it wish to find on others’ profiles? Beside all of this, in what way can HP best express itself and its products and services, to somebody with whom they have never met? HP can dare to be different and liven up its online identity. This would require keeping tight connections with those whom it wishes to and hold in mind through the usage of technology as a fundamental tool. The modern means could hold up all details of customers and their preferences, its only through proper study one could promote its brand better. Social networks offer only means to an end though not an end in itself. Branding and marketing is a long road to success. It requires some curves over time and demands daily attendance. Setting up the accounts through out the wide array social networks is just one-step. The real branding comes from active participation in these networks. For instance, If HP finds value in Twitter then it should just continue tweeting or If HP enjoy updating with their fans via Facebook then be sure to keep connection as often as feel right. Conclusion As e marketing and new media marketing grow as influencers, it becomes imperative that insights gain and actions there forth relies on the measurement of marketing effectiveness and then disseminated across the HP in an integrated manner. While new media marketing activities enhances HP’s ability to reach its target customer through more efficient and effective means, it is important to use analysis that reveal measures previously immeasurable to be use as means for evaluation of data and actionable insights. Work Cited 1. Brownlow. Email promotions vs newsletters, www.email-marketing-reports.com/newsletterspromotions.htm,email-marketing-reports.com, [ 2008] 2. Facebook Statistics http://www.facebook.com/press/info.php?statistics , ww.facebook.com [ 2011] 3. Kollas, S. ( 2008) 2 email strategies most marketers forget,http://www.imediaconnection.com/content/18346.asp,imediaconnection.com, [ 2008] 4. HP Brand enhancing http://h30418.www3.hp.com/ 5. HP on Facebook http://www.facebook.com/pages/Hewlett-Packard/108642545826733?ref=ts, Web 2011 6. HP enterprise TV Online Video / is 311827272 ,http://itunes.apple.com/us/podcast/hp-enterprise-tv-online-videos/id311827272 7. HP 2006 Annual Report [2006] 8. HP Reports Fourth Quarter[ 2007] Results: Financial News – 9. The Oxford University Press, Podcast". [2010] www.Oup.com. http://www.oup.com/elt/catalogue/teachersite/oald7/wotm/wotm_archive/podcast?cc=global. [ Retrieved 2010] 10. "The Podcast Production" [2009]. The President and the Fellows of Harvard College. http://isites.harvard.edu/icb/icb.do?keyword=k&pageid=icb.page23750. [Retrieved 2009-08-21. ] 11. United States Securities and Exchange Commission [ 2010] http://www.sec.gov/Archives/edgar/data/47217/000104746910010444/a2201180z10-k.htm. Read More