Ch. 3: Social Media
What are thought sharing sites?
Blogs (professional, personal) and microblogs, like twitter.
What is an example of the Timeliness effect?
Coca-Cola relies on beacon technology that allows companies to detect where customers (who have enabled the feature) are at each moment, through their smartphones. Moviegoers were offered a free coke the moment they walked into a theatre.
What are social network sites?
Facebook and Linkedin; excellent ways for marketers to create entertainment
What is the Timeliness effect?
Firms must engage with the customer at the right place and time.
What is an example of the network effect?
If Katy Perry tweets a closeup of her eyelashes, lengthened using her favorite CoverGirl mascara, CoverGirl will have instantly reached all her millions of followers.
what is the Dynamic effect?
Information is exchanged to network participants through back-and-forth communications.
What are the five aspects of the wheel of social media? These are drivers that lead to dynamic conversations with customers on a personal level.
Information, connected, network, dynamic, and timeliness
How do firms engage customers using social media?
LISTEN to what customers have to say, ANALYZE information presented, and IMPLEMENT social media tactics.
What is the paid-owned-earned model?
Paid media feeds into owned media which feeds into earned, which feeds back into owned.
What are the two aspects of social media that excite the customer?
The offer is relevant to its targeted customer, and relevancy can be achieved by providing personalized offers
What is the network effect?
The outcome in which every post is spread instantaneously across social media
What are media sharing sites?
Youtube; highlight how consumers can experience and encourage consumers to engage
How does social marketing engage the customer?
action, loyalty, and commitment. Positively engaged consumers lead to more profitability (20-40% more)
What are the three app pricing models?
ad-supported, freemium, and paid
What is sentiment analysis?
allows marketers to analyze data from social media to collect consumer comments about companies and their products.
What are freemium apps?
apps that are free to download but include in-app purchases that enables the user to enhance an app or game (LinkedIn Premium)
What are ad-supported apps?
are free to download, but ads appear on the screen (Instagram)
What are paid apps?
charge the customer an upfront price to download the app, but offer full functionality once downloaded (Apple Music).
What is social media?
content distributed through online and mobile technologies to facilitate interpersonal interactions.
What are six examples of how companies analyze data from company social media?
hits, page views, bounce rate, click paths, conversion rates, and keyword analysis
What are click paths?
how users proceed through the information.
How do customers experience the product or service through social media?
information about a firm's good/service and simulating real experiences
What are the three categories of social media?
social networking sites, media sharing sites, and thought sharing sites
what is owned media?
targets customers; corporate websites, blogs, fan pages, etc.
What is paid media?
targets general consumers; traditional advertising, TV, Radio, etc.
What is earned media?
targets superfans; word of mouth, facebook comments, twitter mentions, etc.
what are the 7 needs that mobile marketing meets?
the needs for me time, socialization, shopping, accomplishing, preparing, discovering, and self-expression
What are page views?
the number of times any page gets viewed by any visitor.
What is the information effect?
the outcome in which relevant information is spread by firms or individuals to other members of the social network
What is the connected effect?
the outcome that satisfies humans' innate need to connect with other people
What is bounce rate?
the percentage of times a visitor leaves the site almost immediately.
What is the golden opportunity that social media uses to educate the customer?
the products value proposition ad offered benefits
what are hits?
total requests for a page.
what is keyword analysis?
what keywords people use to search on the Internet for their products and services
what are conversion rates?
what percentage of visitors act as the marketer hopes.