Approaching the social media

: the Galp Energia case

Abstract

Social media is today an essential technique to modern marketing. Companies need to go where their consumers are, and they are online, establishing contacts with friends, telling them about their daily lives and, most importantly, commenting news and sharing their opinion and preferences in what concerns to products, services and brands. This is a modern version of the word-of-mouth, but this time is a multidirectional and faster way. It takes only one unpleased consumer, angry about a brand to dozens or thousands of people know it. Companies are already in the social media, even if not officially. They are there through their individual collaborators, their satisfied and unsatisfied clients. Social media can represent today a threat to those companies who have image problems. Nonetheless, social media is much more than that. It represents a huge opportunity and revolution on how to deal with clients. It allows a faster crisis management, a more direct contact between the company and consumers, in a way that protects the brand. It is also a cheaper way of advertizing, with an investment many times lower than if done through the usual channels, thus creating a higher revenue. Social media can be a monitor of tendencies, a test to consumers’ response, with no major added costs to the company. Right before a product or campaign is launched, consumers can give their opinion and guide the company. Firms cannot ignore social media anymore in their mid-long term strategies.

Date of Award	2011
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Pedro Celeste (Supervisor)