Answer

What social technology strategy would you recommend?

Magenta ventures should first understand the business objectives, which is incorporating millennials into its customer base, ensure competitiveness as well as encouraging peer communication. The company should then do background research of the platforms used by similar companies and their effectiveness. It should also seek employees' opinions as they will be utilizing the same platforms and come up with the budget for the program. Platforms like Facebook, Instagram, and twitter would be ideal. The company should then design a professional profile and logo and promote its platform. Magenta should also come up with the standards for evaluating the effectiveness of the platform (Effing & Spil, 2016).

Why would you recommend this strategy?

The strategy will assist Magneta in achieving its goal of reaching out to the youths and deliver the content to them. The approach will also ensure continuity as everything will be taken care of before kicking off.

How would this strategy benefit the organization?

Through this strategy, the organization will realize its goals of tapping the new generation to buy its products, which will scale up its sales revenue. Also, it will be acceptable to the employees as it will seek their participation. The employees will be in a position to refer their peers to buy products, which is a good marketing plan.

type of social media metrics

multiple key performance indicators must be set. One is the media reach, which would consider the volume of company posts and the number of company followers. Also, the clients' engagement would be crucial, which would be shown by the likes of the number of direct messages and newsletter subscriptions realized. Also, the business results on the volume of marginal sales revenue generated, customer recommendations, etcetera (Melinda, 2018).

How would you justify the costs of your recommended strategy?

Social media and digital marketing is the way out to reach out to the millennials and stay competitive. The benefits to be realized would significantly outdo any cost.

References

Effing, R., & Spil, T. A. (2016). The social strategy cone: Towards a framework for evaluating social media strategies. International Journal of Information Management, 36(1), 1-8. doi:10.1016/j.ijinfomgt.2015.07.009

Melinda, B. (2018). What are the benefits of a social media strategy? Social Media Strategy: Tools for Professionals and Organizations, 27-34. doi:10.4135/9781071801338.n3