Assessment Two: Social Media and Business Value Report

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The selected company I have chosen to study their social media strategy is for Dollar Shave Club.com. Dollar Shave Club (DSC), is a subscription service that delivers razors for men for as little as $1 per month. This company caught my attention after seeing their viral video which you can see below:

After seeing how well this brand was marketing itself through this video I figured their social media strategy would be interesting to look at.

It is crucial for DSC to have an effective social media strategy because their whole business is serviced through the internet and their website – therefore it is absolutely necessary to have an excellent social presence.

Throughout this post I will be critically analyzing DSC’s social media strategy through taking almost every idea I have discussed in my blog posts.

Types of social media DSC engages with:

In order for us to evaluate their strategy we must see what they use in terms of social media. Here is a list linking to each social media platform they are on:

Here we can see a very diverse range of platforms they are active on which indicates a hint that their social media and web2.0/3.0 may be utilized very well.

Although they may use a number of platforms, we can not confirm that they are getting a good return on investment from their social media strategy. This means we will have to look at the quality of their strategy in order to determine if it (social media strategy) will likely pay off.

 

We need to think back to the idea of vanity metrics which are metrics that have no monetary benefit in the short and long term and also barely engage the audience. In order to measure their success we must dismiss these ‘vanity metrics’ slightly.

An example of vanity metrics in this case is the number of followers they have – although they do show the popularity of their social media, they do not necessarily equal a monetary return.

As basically all of my blog posts illustrate, I am a big believer that the best way to engage and audience and build a loyal following is to provide your prospects with value.

Let’s see how DSC provides value through social media:

1. Informational social media posts: Many of their blog posts seem to contain lots of information which is relevant to a good portion of their audience. They have posts which are tips and instructional for the audience to implement using DSC products (this provides monetary return and a selling technique) and things. These posts provide huge value for readers and potential customers thus making them good for ROI. For example pictured below is a blog post illustrating how to get rid of bags appearing under your eyes:

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Many of the blog posts are also shared through their social media platforms such as Facebook, Twitter and Instagram posts which then link back to the blog.

In fact it is no mistake that they provide links to their website from their social media platforms because their website is where people can purchase the product and be prone to their sales techniques.

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2. They update each platform regularly: I illustrated how important it was to update content on a regular basis to maintain a good audience in this blog post. Having a quick glance we can see that they update social media regularly with very time between posts:

On Twitter 16/05-17/05:

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On Facebook 13/05-14/05:
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And even YouTube:

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Regular updates is the lifeblood of any social media campaign as people will simply go elsewhere to seek content if it is not kept up to date. Information also retrieved fromBuffer Blog

3. They use effective measures to engage their audience and interact with them: DSC uses many ways to engage the audience effectively such as asking questions to their audience through social media posts which encourages them to respond in the comments section as seen in the following photo:

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You see in the above photo that the audience are even going to the lengths of posting their own photos of the product which has resulted from DSC encouraging heavy engagement and resulting in a successful campaign.

They also ensure they make the time to respond to customer’s queries and comments on social media which many big companies do not do. They respond to every comment negative or positive which lets the audience know that they are appreciated and are welcome to ask anything. Responding to queries and other consumer generated opinions is crucial to improving trust and backing up the quality of your product. Here is an example of them responding:

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Building trust with your audience is what ultimately determines whether people will purchase from you – if there is no trust from your audience they will not want to spend their money with you.

In order to get to where they are in terms of serving their customers they would have had the goal of building interpersonal trust where the responses to customer inquiries build this type of trust due to the personal responses hence forming a personal connection between the user and the company.

The concept of Cisco’s S.O.C.I.A.L approach:

We have discussed the C for consistent in regard to the consistency of updating social media where DSC has done this very well updating all of their platforms at regular intervals.

Scalable: DSC continues to provide value to their audience which grows their social media presence as reflected through the change in their engagement metrics and social metrics.

Open: DSC educates their customers through their blog posts as I provided an example earlier where they showed people how to get rid of the bags underneath their eyes.

Intuitive: All of the DSC social media platforms are easy find from a simple Google search which brings up the majority of major platforms they are on as seen in the following screenshot:

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Here we can see links to each of their social media platforms which make their social media easy to navigate through.

One downfall is that the content can sometimes be pretty standardized across every platform – or in other words a large portion of the content is the same across every platform.

Active: As mentioned, the content is very relevant to personal skin care and other personal care means. It is informative and engaging enough where people are able to connect and discuss the topics with others and with the company directly as shown in previous examples.

Limitless: DSC is very limitless with their social media strategy where they are on every major platform and update all of them rigorously. They also do have a range of different content such as videos, photos and such however the content can often feel like it was not suitable for every platform which they spam it across – it would be better for them to create content that is suitable to each individual platform rather than all of them; it does require more effort however will lead to greater success.

Information for this section gathered here

First and Second Generation social media:

As you can easily see from the photos and examples of posts that DSC uses, they use a combination of both first and second generation social media. First being where they advertise their own product – which they ensure they do enough of.

On top of this, they also ensure they engage with their audience somehow. In an earlier example I showed there was a photo of them advertising their product with a caption saying that if users post their own photo in response then they will win a t-shirt. This an excellent example of first and second gen social media working alongside together.

They are consistently delivering both generations of content through social media.


Aside from DSC’s content being the same across every platform for the majority of that they publish, they are executing their social media very well in terms of content and their strategy.

Given that they have done this well according to the material I have learnt and studied in class, it is safe to assume that they have been successful through social media and have likely found many customers through this avenue.

It is not surprising to hear that as of June 2015 the company was valued at $615 million and is still growing!  And it is clear that  their content and social media played a huge part in building it into this behemoth.


That wraps up another blog post/ assignment for this week I hope you all found it very informative and realize how Dollar Shave Club is an awesome company that utilizes their social media very well.

My question for you this week is: “What did you like most about DSC’s social media strategy after looking through their various accounts?”

Please leave your reply in the comments section below and if you did find this post interesting please share it with your audience through pushing the share buttons displayed below – Thanks

 

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