Social Media analyticS : XiaoMi caSe Study Customer Behavior Analytics
XiaoMi was founded in 2010 by serial entrepreneur Lei Jun, who believes that high-quality technology doesn't need to cost a fortune. MI logo stands for “Mobile Internet”
• Xiaomi Corporation is a mobile internet company focused on Research & Development of high end smartphones • We produce the Xiamoi phones because of their “MI Fans” and decisively explains the “FAN CENTRIC” philosophy of its founder • Xiaomi wants to be the part of the life of customer • Believe on personalize not professionalism • They advertise their product only through social media Sinaweibo , Facebook
SOCIAL MEDIA (A REAL BUSINESS STRATEGY) • It allows firms to engage in timely and direct end customer • Relatively lower cost as compared to traditional marketing tools • Internet has become the medium of choice to communicate and collecting information
FANS PLAY A KEY ROLE IN SOCIAL NETWORKING SITES • Social networking sites are full of fans • A strong fan community can be build through social media • Helps to know where we lacking in customer’s expectation • • Innovate and redefine • Shorter learning curve facilitate mass production • Grade the level of fans and grants variety of incentives and permission • Word of mouth
LOCUS OF STRATEGY SHIFT FROM COMPETITION TO SHARING COMPETITION
SHARING
PROFIT
CONTENT
TECHNICAL INTERACTION
LOCUS OF FOCUS SHIFT FROM TECHNICAL TO ENVIRONMENTAL
SMART PHONE INDUSTRY
SOCIAL MEDIA “FAN CENTRIC”
LOCUS OF BEHAVIOUR SHIFT FROM INTERACTION TO SOLICITUDE
SOCIAL ENTERPRISE
ENVIRONMENTAL
SOLICITUDE
FRaMeWoRK to Build Fan PoWeR ENGAGE THEM WITH INTERESTING TOPICS
ADDRESS THEM HONESTLY AND POSITIVELY
UNITE AS A FAMILY
MONITOR REVIEWS ATTENTIVELY
REASONS TO BELIEVE • Customer interaction • Getting positive feedback • Positive word of mouth
BRand Key TARGET MARKET : Tech savy
COMPETITIVE ENVIRONMENT • Competes directly to multinational companies like Samsung, IPhone
BRAND ESSENCE “FAN CENTRIC”
VALUE & PERSONALITY
BENEFITS • Modifications according to your needs • Technology upgradations
DISCRIMINATOR/U SP: Customerization
• • • •
Optimism Honesty Service oriented Reliability
StRenGHtS
WeaKneSS Not focusing on traditional marketing
Focused on customers Cost efficient Social media marketing Innovation Customer satisfaction
SWot oPPoRtunitieS Growth in new international markets Can raise more customers through social media marketing
tHReat They may lose there market share. New entrants with same business plan.
LEARNINGS • Positive e-word of mouth helps a company to get more orders and earn higher profits. • Over emphasis on technology or research and efforts to develop unique products may not lead to success. • Good reputation can be earned by honoring promises made. • Fans are the individuals who ultimately support a firm in its high growth phase. • Negative word of mouth is an asset for the company.
tHanK you
Ankur Sharma Neha Kumari Priyanka Banerjee Aatish Raj Arpan Ghosh