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Using Social Media Effectively
Many marketers define their social media objectives around five core concepts: (1) listening--understanding what customers are saying and who those customers are, (2) talking--promoting products/services through conversations with customers, (3) energizing--finding enthusiastic customers and using them to sell to others, (4) supporting--enabling customers to help one another,and (5) embracing--using customers as a source of product innovation.Marketers should also keep in mind that,more and more,customers expect companies to use social media.According to a recent survey,more than half of all consumers want ongoing conversations with companies and brands-and of consumers who use social media themselves,a whopping 85 percent believe that companies should have an active social media presence.Marketers who embrace such consumers can harness the power of social media and ultimately improve profits and brand loyalty.
-Refer to Using Social Media Effectively.Of the social media objectives often defined by marketers,the foundational objective is undoubtedly:
Expense Basis
An accounting method where expenses are recognized and recorded when they are incurred, regardless of when the cash payment is made.
Encumbrance Accounting
An accounting method used mainly by governments that tracks commitments in their budgets, earmarking funds for specific future expenditures.
Purchase Order
A commercial document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.
Decentralized
A system or organization where decision-making authority is distributed among various levels rather than being concentrated at a single point.
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