Direct order approach Memorandum To: Lana Strydon Head Digital Marketing and Media FNB From: Allan Thorvaldsen Date: 9th October Subject: Business Case Analysis of Banking on social media A scrutiny of FNB’s social media strategy Key question presented How does FNB manage their social media strategy? Short introduction of the presented question The purpose of this paper is to analyses how FNB manage their social media strategy. To start with Social media strategy refers to a company’s process of online marketing customer acquisition and customer engagement. The aim with this analysis is to analyze how FNB has managed their social media strategy in the past and investigate what was learned. Brief answer to the key question FNB has early on understood the importance of having a clear digital strategy and how to leverage customer engagement with the use of social media. With growing competition is has become imperative to it becomes very important for the technical department to be in act so that once those cases appears out they are solved instant. There should be regular training and passing of the information on the updates and adjustments of the services programs to make sure that customers receive updated information in the social media to avoid incontinences between the customers and the bank. References Maziner L. Kleyn N. Goldman M. and Lindsey-Renton J. (2015) Banking on social media. Richard Ivey School of Busines Foundation.Agnihotri R. Dingus R. Hy M. Krush M. (2013). Social media: Influencing customer satisfaction in B2B Sales. Industrial Marketing Management 53 (2016). 172-180 Nisar T. Whitehead C. (2015). Brand interactions and social media: Enhancing user loyalty through social networking sites. Computers in Human Behavior 62 (2016). 743-753.Zhu Y. Chen H. Social media and human satisfaction: Implications for social media marketing. Business Horizons (2015). 335-345 AMPS 2011A/2012A [...]
Hi, I'm running out of time on my assignment. I have written af rough (very rough) dragt on my assignment for management communications thus i need help in getting a flow in the writing having it all connected. I've attached the draft and the case study on which to do the analysis. The instructions for the assignment are as follows: Assignment 3 mgmt comm. The purpose of Assessment 3 is to understand the concept of ‘analysis’ and how to learn to analyse information efficiently and effectively. According to Rosenwaser and Stephen (2009, p. 4), analysis is: More than just a set of skills, analysis is a frame of mind, an attitude toward experience. It is a form of detective work that typically pursues something puzzling, something you are seeking to understand rather than something you are already sure you have the answers to. Analysis finds questions where there seemed not to be any, and it makes connections that might not have been evident at first. Assessment Task Companies around the globe are embracing and adapting social media for many different reasons, including: customer service, marketing, internal communications, public relations, and corporate social responsibility. It is now a reality that social media is changing the way stakeholders and companies communicate daily, providing opportunities for collaboration, participation, interactivity, and engagement. Your task is to analyse a business case study that chronicles the management of a social media strategy by First National Bank (FNB), one of South Africa’s ‘Big Four’ banks. A business case study ‘is a description of an actual situation, commonly involving a decision, a challenge, an opportunity, a problem or an issue faced by a person (or persons) in an organization’ (Erskine, J.A. and Leenders, M.R., Learning with Cases, © 1997, Richard Ivey School of Business). Cases contain relevant data about the issue available to the key person in the case, plus background information about the organisation. Please follow these guidelines to complete the assessment: 1. Carefully read the Ivey Business School case: ‘Banking on Social Media’. Note: you will need to go onto the Ivey Business School website www.iveycases.com and purchase a copy of this case (Product Number: 9B14A070) (approximately $AUD5.00). 2. Read the case several times and answer the following questions in your analysis: • How has First National Bank (FNB) used digital and social media to engage with its customers? • What benefits does FNB obtain from investing in a social media strategy? • What lessons can FNB learn about developing and implementing a social media strategy? • Identify important factors for an organisation to consider when using social media to communicate with customers and improve their experience. Use 3-5 secondary sources to support your analysis. • You should be able to use the case study to answer the first three questions. The three to five references are for Question 4 - i.e. Identify important factors for an organisation to consider when using social media to communicate with customers and improve their experience. 3. You are encouraged to write a first draft of this memo at least one week prior to the due date to ensure adequate time for revision. Please be aware that the writing quality and appropriate referencing will be marked as well as the content. PRIOS/CDT brief for Assessment 3: a. Purpose: Analyse the management of a social media strategy. b. Reader: Lana Strydon, Head Digital Marketing and Media, FNB. c. Information: Based on primary and secondary sources. d. Organisation: Direct order approach. e. Style: Formal. Be sure to proofread carefully to ensure that there are no sentence-level errors such as spelling mistakes, wrong word choice, incorrect punctuation, etc. f. Channel choice: written document. g. Document design: memo format. h. Length: 1000 words.