Social Media Marketing

skeptics:

- question whether social media will remain powerful - think it is a tool primarily for the young - concerned about quantifying the return from social media marketing

listen to

-conversations about a particular company -what people say about competitors and what competitors say about themselves -to the overall industry

Benefits of social media marketing

-savings in customer service -online word of mouth promotion - improved brand awareness and reputation - increased brand loyalty

Rules of engagement

-use channels as intended -dont spam -assume people don't care about your product -have a personality -provide context when seeking connections -be transparent -talk about the topic, don't just self promote -social media sites are not bill boards -dont self promote

3 important aspects to social media marketing

1. creating buzz, attractiveness becoming viral in nature 2. building ways for fans to promote a message themselves 3. based around online conversations, encourages participation

Pareto principle

80% of the results are due to 20% of the causes

8 C's of strategy developments

categorize comprehend converse collaborate contribute connect community convert

trust building

companies must develop trusting relationships with their audiences

Interruptive marketing

companies purchase the right to interrupt people and demand their attention, don't have to worry about whether or not they want to see the ads

social technograph profiles

creators conversationalists- join in group discussion critics collectors- upload and save favorites by bookmarking joiners- interact on social media spectators- consume the content others post inactives

secondary optimal target audience

group of personas that has almost all of the traits but who are missing one attribute

share of voice

how a brand compares to its competitors

social currency

investing your time, knowledge, and effort to a channel before trying to sell something or withdraw monetary currency

long tail

items that are not popular can collectively be important if marketers want their services to appeal to a wide range of people

qualitative measurement

judging a sentiment

Why do businesses struggle with social media

lack a definite plan

audience engagement

level of company's engagement compared ton iewers

social media marketing plan cycle

listening setting goals defining strategies identifying the target audience selecting tools implementing monitoring tuning

two step flow

media-opinion leaders-individuals

conversation reach

number of unique visitors who participate across one or more social media channel

successful social media marketing is

participatory authentic resourceful credible

power users

people who already have influence in the world of social media

optimal target audience

personas with a need for the product, enough money, and in interest in receiving marketing messages

sentiment ratio

positive, neutral , and negative brand mentions about a specific product or services

Key performance indicators

quantitative and qualitative metrics that indicate the type of progress of strategies in achieving goals

Permission marketing

relies on attention being earned from the audience, consumers choose to follow a marketers content because they see some value in doing so

personas

simplify audience groups into groups so it is easier to approach and understand them

make goals SMART

specific measurable attainable realistic timely

baseline or benchmarks

standards in which KPIs are measured against

target audience

a group of consumers a company has decided to organize their marketing strategies to

real time bidding

advertisers biding on a specific ad space within milliseconds based on the value of its impression

unmarketing

any time anyone talks about your brand or inadvertently represents your brand think carpet cleaner that said good morning

data mining

automatically sifting through large amounts of data

social media measurement

determination of the volume content and the sentiment towards a brand or topic on the social web

social media tracking

the process of finding and following content on the social web

control vs. contribution

traditional marketers are more likely to seek control of a message, social media marketers are more likely to host an online discussion in which they welcome comparison to competitors

Social media marketing is

using social networks, online communitites, blogs, or any other online collaborative media for marketing

quantitative measurement

volume of content,