March Madness and Social Networking

The video I watched was extremely interesting. It had so much great information. Eric Lundquivst was a very good narrator. He outlined the great uses of social netorking in advertisements and for the use of advertisements. I learned a lot from what he was explaining. He mentioned how using social networking and advertisements at large sporting events and venues could result in huge profits and financial gains. He used the term advertisement giant to describe the result of making such changes. The profit potential would be huge! It is a million dollar industry, and social networking is the key to making it all work. Using social networking as an advertisment tool is a genious idea. It is so simple. You go to a sporting event. Everyone in the venue will have a phone with twitter, facebook, linkedin, etc. Everyone has access to these programs and everyone can access them immediatly upon hearing the ad. People often will forget about an ad if they have to wait to go home to check it out, social media takes away this time inbetween seeing the ad and getting home by allowing instant access. It is a very smart thing to do. Just think of the potential available from these tactics. It is unbelievable how much money you could make. The fans are so focused on the games, they will see every single ad that pops up, and with a quick twitch of the finger they have full access to everything being advertised. It is a fool proof system. A great example is the use of social networking during March Madness, the NCAA basketball championships. Every game was pack-full of ads which implemented social networking as the key our their ad. People had a huge response to this tactic and it resulted in a very profitable ad campaign for many different companies. Those who didn't use these tactis definitly missed out on huge opporunities.

Something else Eric Lunquivst brought to our attention was the use of twitter updates in restaraunts. He explained how some restaraunts should start to use the use of twitter to help motivate employees. They would do this by having constant twitter updates in the restaraunt giving the food, the service, and the general experience a rating and have the customers give their opinions. This would allow employees to see how they're doing and if they need to make any changes. Owners and managers should really start to implement this in all of their venues. It is a fantastic way to motivate employees and show them what they need to start doing better. I think that this tactic could result in huge profit gains in stores. The food and service would improve and people would love coming back. The potential is unparalleled. Those who are being one with technology, have a liberal attitude with the changes in technology, marketing, and advetising, and who are willing to change what they are doing are the ones who will be getting the most profit and will be the ones who are most successful.

In my opinion, this social networking fad is fantastic for the well-being of today's modern market. As a marekting major I am very interested in the potential of tis idea. Social networking offers huge financial profit potential. It is crazy what can happen in the future with this new technology. If I was a manager, I would definilty implement some kind of social netorking in my ad agency and marketing sector.