A few weeks ago our class studied Ford's advertising methods. It was really interesting to see how they have gone away from the traditional advertising and have now incorporated social media into their corporation. There were a few fascinating points Jim Farley Ford's CMO made. Anyone can see the video or article from this website: http://mackcollier.com/ford-cmo-jim-farley-social-media-leading-to-massive-cost-savings-for-ford/.
One point is Ford has started launching cars early online. Farley notes it has created customers to become interested and excited about the car before it is out for sale. He also notes it creates people to talk about a product before it is even out. When a business can create that - the advertising has been effective.
Another point Jim makes is that social media helps a business by:
- Generating Sales
- Lowering Costs
Farley touches on something that is overlooked with social media and that it generates sales. People see social media as a way to lower costs or create awareness but it also generates sales.
Social media is fun to study and looking at examples of companies that have done an excellent job of incorporating it into thier business. Ford is a perfect example of this. Thank you for reading!
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