Technological Innovation in Business Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Technological Innovation in Business

Initially organization were following product concept; therefore, their main focus was to produce goods. They never paid attention to market their product. However, with the evolution of marketing concept after 2nd world war, firms started to market their products. Customers are now their main focus. Marketers are more interested to know the needs of their customers.

Companies are finding new ways all the time to get in touch with their customers. In past, print and electronic media was the only way to communicate with their customers. It was not cost effective for companies as well. With the evolution of internet, new ways of interacting with customers have emerged. Social media is playing a very important role in today’s advertising world. Companies are spending billions of dollars on digital marketing. Companies make sure their presence on social media because their target audience can be found on social networking sites. Digital media is giving tough time to traditional mode of communication. Companies are moving from traditional to digital mode of communication. There are number of social networking sites like Facebook.com, Twitter.com, and Instagram.com etc. where companies are branding their product.

Twitter is one of the leading social networking websites where not only companies but an individual can interact with their loved ones. It was founded by Jack Dorsey in July, 2006. 2500 people work for twitter. In table 1, facts and figures are shared related to twitter. Twitter has 645,750,000 active users. Everyday around 135,000 new users sign up on twitter. It has 190 million unique visitors in a month. Average 58 million tweets are made every day. There are 2.1 billion search queries on twitter every day. 43% users use their smart phone to make tweets. 40% people are those who don’t tweet but check other’s tweet. In every second, 9100 new tweets are made. Around 19% brands tweet on weekend and engagement ratio is 17%. Hashtags increase the ratio of engagement by 21%. Offline sale is increased by 29% with promotional tweets. From table 2, it is shown that Intel was on the top with 183,989 new followers in June, 2014. Brand and people both are using twitter more than television.

63% brands have more than one account on twitter and 35% have one account on twitter. According to a survey, brands are intended to create brand awareness instead of sales (see figure-1). 79.4% of the brands want to create brand awareness. 58.0% brands want to bring traffic. 55% want to engage new customers. 51.9% of the brands find new leads on twitter. Focus on the improvement of brand image is done by 42% brands. 39.7% companies use twitter to increase brand loyalty. Only 24.4% companies want to generate sale from twitter.

LG launched a campaign on twitter named “LGtickethunter”. It was designed to hunt treasure on twitter. LG got surprising results through that campaign. 50,773 hashtags were mentioned. Around 20 million impressions were made. 11,947 people got engaged.

Virgin America launched a campaign on twitter related to low fares and charity. Surprising results were obtained by virgin America. They raised $50,000. There was increase of 25% in new sign-ups. 11,000 hashtags were mentioned. Cadbury launched a campaign of wispagold named “Retweet for Sweet”. It helped to bring 25% user engagement. There was an increase of 1800% in positive mentions of brand. Cirque Du Soleil used promoted accounts to increase its followers. Because of that promotion, the company got 360 new followers per day and 340 new followers were organic followers.

Porsche used promoted trend campaign to launch its Porsche 911. They also used promoted tweets. Engagement rate was 87%. They got 1743 new followers. 300% increase in brand sentiments. Snickers launched a twitter campaign named “You are not you when you are hungry”. Snickers used celebrities’ accounts to spread the words. Snickers got amazing response through that campaign. Over 26 million people were exposed to that campaign.

Mercedes launched a campaign named “youdrive”. People got engaged with the company. American Airlines launched a campaign on its 30th anniversary named “Tweet to win 30K miles”. Users had to follow @AAdvantage and tweet the #deal30. Results were amazing. They got 18,000 new clicks. Followers were increased by 70% and retweets increased by 43%. Go granny launched a campaign in 2012 super bowl. Their tweets got 20 million impressions and sales were increased by 500%.

IBM decided to increase its social media efforts. Photos, interviews etc. were all present on the page. Company used #Is11 hashtag. IBM got 35000 tweets with that tag. 9500 people retweeted that tweet. 41 million impressions were made on those tweets. McDonald Canada launched a campaign to get new followers. They used suggested followers button to attract target audience. Results were amazing. McDonald Canada got 9503 new followers. Engagement rate reached to 4%.

Appbackr used twitter to bring visitors to their sites. Company was amazed with good outcomes. Followers increased by 140% and traffic.........................

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