PPB FREE NOTES ON SOCIAL MEDIA MARKETING PDF | JAIIB 2024 STUDY MATERIAL FOR FREE

PPB FREE NOTES ON SOCIAL MEDIA MARKETING PDF | JAIIB 2023 STUDY MATERIAL FOR FREE

In this article, we will discuss Social Media Marketing which is part of the Principles & Practices of Banking syllabus applicable for the 2024 exams of JAIIB. 

Because the exams of JAIIB are near, we are trying to bring an article so that you can just take a brief note of the subject matters which are applicable to your JAIIB papers. You can just take read these kinds of articles to refresh your mind from time to time. This is a kind of easy way to cover the topics of your JAIIB exams smartly.

SOCIAL MEDIA MARKETING 

When social media platforms and websites are used to promote your products or services, it is known as social media marketing.

Even though e-marketing and digital marketing terms are still very much used in academic materials, social media marketing is becoming more popular among researchers and actual practitioners. Most of these social media platforms have inbuilt data analytical tools so that the companies can track the progress, success & engagement of their ads and other campaigns. 

This is also a way to address a large range of stakeholders, including current and potential customers, employees, the general public, and bloggers. If we look at social media marketing as a strategic tool, social media marketing can be used for the management of marketing campaigns, and governance and to set the scope and establishment of a company’s desired social media culture and tone.

When we use social media for marketing, companies can allow their customers and internet users to post user-generated content (online comments & product reviews) on their platforms other than posting marketer-prepared advertising media.

POPULAR SOCIAL MARKETING NETWORKS

TWITTER

Twitter is the simplest social media platform as one can post messages up to 140 characters or less. It is one of the most fun and interesting platforms which is used by almost all the popular people changing from celebrities to popular companies all around the world. 

If the message system is more than sufficient to a postal link, an image, or a thought. Its interface is user-friendly which is very easy to learn and use and one can set their profile in only a few minutes.

FACEBOOK 

You can understand the popularity of this platform by the fact that this platform is sometimes referred to as ‘social media’ itself. This is the site where you can find any of your friends, and relatives. Even though the basic purpose of Facebook was to share photos, links, or thoughts among friends and relatives, nowadays it is used by file organizations to get support for their products/services.

LINKEDIN

It is the only mainstream social media that is actually more on the business side, a space where groups are formed for local business communities. 

It is a great platform where customers can meet with vendors, employers can meet the new employees, and keep up with the latest updates in the business and industry. If there is anything that matters to your company or career, LinkedIn is the space where you can probably do it.

XING 

It is another professional networking site which is used for recruitment purposes. Xing has more focus on professional aspects which other business sites such as LinkedIn lack & the presence of Xing are on a global level. 

One can easily mistake this site for a job search portal but it actually has good features and communities which help in developing relationships with suppliers, colleagues, and leaders within the industry.

GOOGLE+

Google+ is one of the promising social media which combines the best features of both Facebook and Twitter into one site. And to add on that it has the world’s largest search engine working behind it. 

This is the only site which has something for everyone. Users can add new content, use hashtags to highlight the topics, and can even separate the contacts into groups or circles and make a profile or account on Google+ takes only a few minutes.

PINTEREST

Pinterest works like a big board where we can put our ideas and inspirations virtually. It has actually made a huge impact on social media in the last few years because it is having popularity with women and DIY ideas. It lets the user share their pictures, and creative thoughts which anyone can pin, save or replicate. The content that is shared here can be in images or video forms.

YOUTUBE

It is the most popular video-sharing service which has billions of videos that can be seen by anyone from anywhere. It is basically the world’s second-largest search engine for videos. 

It has everything starting from the productive use to promotional clips and ‘how to’ videos on almost everything. These videos can be easily shared, rated, and commented upon. Users have been earning money from this media.

INSTAGRAM

Instagram allows you to share your pictures by conveniently connecting the camera feature of the user’s phone & all the social media profiles. One can connect their Twitter, Instagram, and Facebook accounts & can post a variety of photos by using photo filters to be connected platforms. When they can easily invite their friends to comment on their pictures or ideas or stories or videos and whatnot.

INDIAN BANKS & SOCIAL MEDIA MARKETING

The banking industry in India has shown so much growth on social media platforms such as Facebook, YouTube, Twitter, etc. If you look at the banking sector as of recently, then we can see that banking is not just about opening bank accounts or providing services related to credit cards, investments, mutual funds, wealth management, or insurance. With the increase in the use of social media in India, it has been understood by banks as well as other corporates such as non-banking financial institutions that tweets and likes, and shares matter when we talk about engagement with the younger generation.

It is important to have a globalized approach and to face the increasing competition banks should give due importance to their marketing strategies and social media is a major part of it. We can see that there are banks that are using social media platforms as another way to provide customer care services as well as to showcase their leadership. These platforms are even used to launch new products which are endorsed by celebrities.

This way, social media is used by businesses to sell their products and services. With this platform customers not only like using their services but are also very much open or vocal about their feedback which can be used as a stepping stone to take future decisions. 

Private bank charges ICICI and HDFC have already understood the importance of social media and have started to post/ share content to engage the customers rather than sell.

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