As duties of a digital executive were

As
a part of academic requirement and completion of BBA program, I have been
assigned to complete my internship report under the supervision of iPay Systems
Limited and guidance of my honourable faculty Mr Hasan Al-Mamun.

 

The
report starts with a general introduction on “iPay Systems Limited”. iPay
Systems Limited is a first online payment platform in Bangladesh dedicated to
serving its people in digitalizing the financial transaction and bring a change
towards a cashless society. This report depicts towards marketing and
communication strategy of iPay Systems Limited that also conducts
digital/social media communication to enhance its service to its targeted users
and create awareness among the people about the brand.

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Moreover,
recruitment and work duties of a digital executive were thoroughly described in
this report. This report mainly features on maintaining brand communication of
iPay and its function through social media. Here in this report I mainly
discussed on the effectiveness, efficiency and strategy of the social media for
which I have interviewed and discussed many users and employees of social media
who have keen interest on digitizing the transaction platform. The results
shows that iPay’s brand presence in social media is a must as people spend a
large part of their time on Facebook, and when they are on Facebook, they not
only like to communicate with their friends but during their time spent there,
they also like to interact, search and know about brands they see or hear from
different media. Moreover, through the study of social media articles of home
and abroad, the need for FinTech industry and its growth and the work
experience at iPay Systems Limited was a tremendous experience for me. I have
tried to present a true picture of the FinTech industry and social media in the
world and in Bangladesh, amongst different digital firms and which brands are
maintaining social media presence and their objectives and strategies were
tried to be presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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5.2 Recommendations

 

 

Digital/Social
media marketing around the world is getting popular day by day. This is because
digital/social media marketing programs usually centre on efforts to create
content that attracts attention and encourages readers to share it with their
social networks. Digital/Social media marketing in Bangladesh is a relatively
new concept for most companies even a few years back. It is a growing medium of
communication where most of the youths are present and one of the most
interactive mediums of communication. Since social media marketing is new and
still there is a lot to learn here, I have provided some suggestions that can
help iPay to engage in social media and create a brand awareness to prosper in
the future in terms of being efficient, effective and strategic.

 

Some
of the suggestions are mentioned below in bullet points so that the area of
improvements become clear as crystals and can be followed through.

 

1.     
Increase
Budget on Social Media Marketing: One of the number one failures of
brands not doing well on social
media according to a research by Nielsen’s is the reason of low budget
allocated where on average only 1.2 % of the total communication and promotion
budget is allocated to digital social media communication. This budget
allocation is too low and should be increased to a sufficient amount.

 

2.      
Increase
Effectiveness of Brand Pages on Social Media: Most brand
pages are too focused on posting and
communicating products and services to people’s newsfeeds where the social
media user will get annoyed at a particular time and un-follow or unlike the
page. It’s always better for the brand page to promote non-brand communication
like humour, tips and other benefitting message of the user than only blatantly
posting and communicating product and service benefit. Too many product post is
one of the main reason for less than 15mins stay at brand pages, as they don’t
find interesting or benefitting communication from brands. The best method to
use is a mixture of product and lifestyle, humour and tips communication from
brands than product and service promotion.

 

3.      
Increase
Efficiency of Brand Pages on Social Media: To increase efficiency of
brand pages, one needs to target the
communication of brand pages according to the target group. Most social media
such as Facebook has a system of targeting promotion to a good extent where the
reach, the type of people who needs to view the communication, age, gender,
geography and lifestyle can be specified. With a specific communication going
to

 

 

 

 

Page | 45

the right
group the cost per impression of communication will be lower and the money
spent behind promotion will be efficiently utilized.

 

4.     
More
Recruitment for digital marketing or social marketing: Currently
in Bangladesh the business of
digital marketing is just in its initial level. However, as we all know that it
is one of the upcoming booming sectors in the near future as many other
agencies have just started to work on digital marketing. Now for a fast and
rapid development of the iPay, it should hire more employees for this sector to
cope with the high demand.