Digital Marketing Final Exam

Network Clustering Coefficient

# of Actual Connections Present / # of All Possible Connections

Social Listening

-A variety of techniques exist for extracting useful information from social media conversations. Basic social listening typically consists of (1) scraping all public mentions of a company from social media platforms, (2) coding those mentions as positive, negative, or neutral, and (3) summarizing the average sentiment being expressed about a company (e.g., 18% positive, 63% neutral, 19% negative). This can provide companies with an ongoing measure of the general positivity or negativity of social media activity about a company. While useful, social listening has pitfalls that company should be aware of. -First, it can be difficult to find all company-relevant mentions on social media. When scraping relevant mentions, a company like Apple will find several irrelevant fruit mentions mixed in. A large company like Apple also needs to monitor mentions of each of its products and its well-known executives. -A second pitfall comes in the coding of sentiment. Because of the volume of social media mentions, it is unrealistic to manually code each of these mentions. Instead, coding is typically done by a software program. -Finally, it is questionable whether the summarized sentiment score is even informative or useful. Social media conversations about a company are often not an accurate representation of the attitudes of the general population of customers about a company. Social media users may like to post negative things about McDonald's food, but millions of people still eat there every day.

Non-directional network

-Facebook is an example of a non-directional network. When you friend someone on Facebook, you two become friends. There is no difference between you are that person's friend and that person is your friend. Facebook also does not allow one person to be another person's friend and the other person not friend back. Therefore, all friendships there are non-directional. It's between two individuals, period. -if the connections are all simple lines without arrows, it's a non-directional network.

perceived authorship

-For would-be customers, we found that perceived authorship is important. Our research indicated that consumer-authored stories and stories jointly authored by consumers and companies had similar levels of impact — and both had more impact than stories authored by companies alone -On one level, it was surprising that consumer-authored stories didn't have more impact than those jointly authored by consumers and companies, because we think of consumer stories as being more genuine. However, we found that, while people responded to consumer-sourced content, they also valued the legitimacy that came with the brand labeling.

Mobile Marketing based on Locations, Habits, Weather, and Social Context

-Habits. Consumer behavior tends to differ on weekdays versus weekends; mornings versus middays versus evenings; before work versus after work. Marketers should be aware of how habits affect when potential customers are likely to respond to their ads. A bakery may find that some consumers are likely to respond to ads in the morning, as they enjoy eating a donut before work; other consumers are more likely to respond to ads in the afternoon, as they enjoy a pre-dinner treat on their commute home. -Weather. Rain dampens consumer spending, so ad response tends to be higher on good weather days. But the effect of weather goes beyond this general spending effect. Weather also affects people's moods, and they are more likely to respond to positively-valenced messages on sunny days and negatively-valenced messages ("Don't miss out!") on rainy days. -Social context. People respond differently to marketing messages when they are alone versus with their spouse versus with their family. While current data limitations make it difficult to assess a potential customer's current social situation, some researchers found a way to do so, and such targeting may become more commonplace in the future.

Strong ties

-Strong ties are good for influence -When we were talking about strong ties, I gave the example of getting people to open up a bank account. In that situation, more trust and persuasion will be necessary, and therefore, you want to go with strong ties -people with strong tie strength are more likely to create high conversion because their words count more.

Low clustering network

-The network on the left side has way fewer connections. Each person in this network knows only one or two other people in the same network. We call this type of sparse network low-clustering network. -we look at the network in this kind of setting, oftentimes we will find connections to be missing. So out of all possible connections, only a few of them would exist in reality. -Ex: large metropolitan area

Cycle time (drivers of viral diffusion)

-The shorter the viral cycle time is, the more likely a campaign is going to go viral. We mentioned that Old Spice's decision to create the videos in a short time span helped reduce the viral cycle time and push the momentum of the campaign. -the viral cycle time goes from the seed consumer initially becomes aware of something, tries it, invites friends to try it, to friends receiving the invitation and in turn becoming aware of it. Essentially it's the time it takes from one person being aware of the viral content to the next person in the chain being aware of the content. As you can probably imagine, the shorter this cycle time is, the faster the information spreads. A fast viral cycle builds momentum. If you in a short span hear a lot of people talk about the same thing, you are likely to be intrigued to check out that thing too. It's similar to the need for quick growth for Facebook at the beginning. A viral campaign is the same way too. It needs that momentum initially to be of value to people and needs a short viral cycle to build that momentum

Social Monitoring

-The standard prescription for companies conducting reputation management on social media is to respond to all comments both positive and negative. By responding to positive comments, these positive comments about the company are amplified. By responding to negative comments, the company shows that it strives to fix problems and thereby can often prevent negative events from escalating into social media crises. These are the potential benefits to engaging in social reputation management. -First, social reputation management requires significant resources. An employee or group of employees needs to be monitoring social media for company mentions around the clock. Because of the fast-paced nature of social media conversations, especially on Twitter, company responses need to occur rapidly. -Second, any communication from a company's social media profile is considered by consumers to be a communication from the company itself, not just a conversation with a company employee. As a result, gaffes committed by social media employees often become magnified on the social platform. Therefore, social media employees need extensive training to ensure a high level of quality in these social conversations.

High clustering network

-There are many more connections here than the other one. Each person in this network knows three to four other people. So the connections are much more dense than the left one -when you look at the existence of social connections, there are connections among many or most of the network members -Ex: a family, a small town

Viral Coefficient (Drivers of viral diffusion)

-This provides a mathematical measure of how viral a campaign is. This number needs to be more than 1 for something to really go viral. -The viral coefficient contains two components: the number of invites sent out by each customer and the rate of converted customers among the invited. We mentioned these two things earlier. They stem from the medical field. # of invites essentially captures how many people a virus is passed along, and the conversion rate captures what percentage of people who got the virus become sick. So when you multiply these two things together, you get the number of people who actually get sick at a step of the viral process. That's really essentially what a viral coefficient means. It captures on average how many new people are gained into the viral process from an existing member. In medical scenario, how many other people get sick from a single person who passes along the virus.

Three T's of ORM Emergency Response

-Timeliness: By responding quickly, a company can nudge press coverage toward its response to the controversy rather than focusing on the controversy itself. -Transparency: A company should also admit any wrongdoing, after which it can then focus the conversation on actions it is taking to resolve the wrong. -Training: Finally, a company should have a plan in place for its employees to respond to complaints.

Different components of evaluating a transmedia storytelling campaign

-Whether the campaign tells a good story or not -Distribution -Involvement of the audience shaping and sharing the story -Whether each piece of the narrative was easy to find and if each element is connected to the main plot -Fan feedback

The Power of Consumer Stories in Digital Marketing (Free HBR Article) - The authors measured three concepts to evaluate the impact of campaigns that include consumer stories (i.e. self-brand connection, trust, and consideration); know what they are.

-a self-brand connection (in other words, the strength of the linkage between the brand and the consumer's personal life), -trust (belief in the brand and sense that it delivers on its promises) -consideration (the probability that consumers would consider the brand for their next purchase in that category)

Transmedia storytelling

-a technique that allows a story to unfold across multiple media platforms and that solicits active participation of fans and end users in the story's expansion across these medias. -the "spreadability" of the narrative is an important consideration and is accomplished through viral marketing practices in social media channels. -finding the core fanbase that will share and disseminate the narrative is a crucial component of the campaign -strives for continuity of the narrative as the story expands across multiple channels, thus giving fans an immersive experience in the story

Directional Networks

-differentiates the direction of each connection. In other words, instead of just saying that nodes A and B are connected, we care about who is connected to whom. Is the connection from A to B, or is the connection from B to A. In the picture here, each connection has a specified direction from one node to another. -Twitter (when you follow someone, they don't have to follow you back) -Website links are directional links -If the connections have arrows on them, you know that it is a directional network

Seeding (Drivers of viral diffusion)

-essentially involves the choice of the initial or first-generation customers that you want to use to spread your viral message. -In traditional public relations campaigns, companies often send their messages first to influential journalists at major outlets hoping to capture their interest. So their seeds are these journalists. In viral marketing, the choices are much wider, potentially involving any random person that could be walking down the street. But just grabbing a random person off the street is probably not the best thing to do. In seeding, most of the time you want to select people who have high influence.

Online Reputation Management

-the practice of promoting a positive brand image online by increasing the visibility of positive information and managing negative information -the act of reviewing what is being said about a company or individual online, so that the company or individual can engage in activities to improve the overall public perception of a company with which they are considering doing business online. ORM is traditional public relations, but for the internet. -it is not a method for avoiding responsibility for bad business practices. A company should be using all online feedback to improve its products and services and its employee training. Rather, ORM recognizes that negative online content can have unnecessarily damaging repercussions long after the underlying issues have been addressed. ORM is also about equipping businesses with the tools needed to handle new negative issues and turn customer complaints into satisfaction and loyalty.

Weak ties

-weak ties occupying important positions are also good for transmitting information -if it is just a viral video, a weak tie is more than enough, and you want to go with more connections but not necessarily high tie strength. -most people do not find a job through their close friends and family. Instead, it typically happens because some acquaintance, basically someone we know but do not know well offered the information. In other words, it's the weak links that we have that bring us the most useful information. Why is that? Those who we are close to tend to be in the same circle of friends and interests. As a result, they tend to be exposed to the same kinds of information as ourselves. Those we know only superficially tend to be exposed to a different set of information and therefore tend to be more important when it comes to gaining new information.

For Mobile Devices, Think Apps, Not Ads (Free HBR Article) - Know the strategies in designing effective apps.

1. Add convenience. 2. Offer unique value. 3. Provide social value. 4. Offer incentives. 5. Entertain.

Know the monetization strategies at Carousell.

1. Advertisement 2. Subscription-based services 3. Premium Listings

- Know the challenges faced by Carousell and how they addressed them.

1. Competition: Carousell held the home-ground advantage. They rolled out AI-driven predictive features such as Smart Listings and Chat Reply to speed up listings and conversation replies. 2. Frauds and Scams: Implemented CarouPay which withheld payment until buyer and seller were satisfied with delivery and item. MyInfo allowed users to verify identity of other users. Allowed users to verify item authenticity through collaborations with third parties. Also ramped up investments by fivefold into machine learning to enhance detection and prevention of fraud on the platform. Users could also rely on reviews and ratings.....Classifieds4.0

Be a Data Custodian, Not a Data Owner (Free HBR Article) - Know the four cost-effective tactics that can help any business get started on being "Data Custodians."

1. Create a Data Accountability Report 2. Celebrate Less Data Use and Analyze Responsibly 3. Pair Employees for the Most Sensitive Data Access 4. Establish a Privacy Committee

Making the Best of Bad Reviews (Free HBR Article) - Know the three ways that firms can use reviews to evoke empathy from their customers.

1. Embrace your critics. 2. Respond with a personalized message. 3. Share an employee "spotlight."

Mobile Marketing Constraints

1. Less information: The fact that a mobile screen cannot display as much information as a larger screen has important implications for mobile users' cognitions. Desktop users tend to think more holistically, because they can take in a greater variety of information and incorporate more parts of information into a larger picture. Mobile users, because they can only see a small chunk of the picture (both literally and figuratively), tend to think in more detailed, concrete terms. This can have important implications for not only the quantity of information desired by the consumer, but also the kind of information. When consumers think holistically, they are more likely to make cognitive connections between a potential purchase and the role it will serve in their future actions. For example, a purchase of a backpack will be cognitively linked to future activities like hiking or going to school. When consumers think more concretely, they are more likely to consider the purchase in isolation. The purchaser of a backpack will think about the features of the backpack (pockets, size, zippers) in isolation. (2)Slow typing and (3) fat-finger clicking are related, but distinct. The fact that a keyboard on a mobile phone has keys that are too small to be tapped with 100% accuracy is only part of the reason for the slow typing. Typing with two thumbs is much slower than typing with 10 fingers. As a result, filling out forms on a mobile device is extremely cumbersome. This obstacle continues to hinder mobile purchasing. For a time, many media websites advertised quite profusely on Facebook, and the way they recouped their advertising costs was to generate excessive advertising revenue through fat-finger clicks on mobile devices. That is, they would lay out the content on the landing page so that mobile users would accidentally click the ad when they meant to click to advance to the next item on the list (of "Ten Times Celebrities Tripped on the Red Carpet", for example). Fortunately, that business model has been made unprofitable, so this particular annoyance has dropped. But web designers still need to design clickable areas of their sites to be large enough that mobile users will not accidentally click the wrong button. This further constrains the amount of information that can be shown on a mobile device. 4. Slow Processor 5. Slow internet connection

Steps involved in a social media plan

1. Objective: For many companies, the selection of an objective is the easiest portion of the social media plan. A company trying to achieve first-time customers for a new product will most likely choose to engage in social media advertising. A large, well-known company with a history of customer service failures would likely choose to engage in reputation management. For other companies, the objective may not be as obvious. For a company that has a sizable customer list, but also has plenty of potential to attract new customers, it may not be obvious whether efforts to attract new customers or efforts to induce repeat purchases from past customers will be the more profitable pursuit. If the objective is not immediately obvious, a company should start with efforts that are more easily accomplished and/or are easier to measure. Creating first-time customers through social media advertising is the most straightforward and most easily measured social media activity. A company that is unsure whether to engage in social media advertising or some other social media activity should begin with advertising.

- Know the three reasons discussed in the article as why Mobile Ads Don't Work.

1. People Don't Like Them: Surveys show that people find mobile ads more intrusive than desktop ads, because mobile is a more private venue. In fact, fully four in five say that mobile ads are "unacceptable." 2. Theres No Right Side: PC users are conditioned to find ads in the right margin of the screen—they appear that way on Facebook and in Google search results, for example. But mobile screens are too small to have a usable right margin, so ads pop up in unexpected places. 3. The "Fat Finger" Effect Advertisers closely track how many users tap on an ad. But many of those taps are inadvertent, because the ads are tiny—so it's difficult to judge an ad's effectiveness.

- Know what the three different types of Digital Campfires are and how they are different from each other.

1. Private Messaging Campfires: Private messaging campfires often exist on traditional social platforms. Facebook Messenger and WhatsApp are among the most well-known examples. Hardestformarketerstopenetrate 2. Micro-Community Campfires: Like the private messaging campfires, micro-community campfires often live on traditional social platforms. Facebook Groups are probably the best-known example. Notindexedbygoogle 3. Shared Experience Campfires: Private or public forums where participating in a shared experience — often around a specific shared interest — with a like-minded community is the primary purpose for gathering. Ex: Fortnite, Twitch.Customizationiskey

To optimize these partnerships, companies should take 8 steps, know them in detail

1. Put a premium on trust: trust is a critical quality of successful agency partnerships. Trust paves the way for effective decisions, calculated risks, and creative work. But building trust takes intention. Research confirms that characteristics such as integrity and confidentiality are as important as expertise. So companies should look for indicators of these characteristics in their partners — and social media agencies should think about how to signal these intangible qualities along with their technical competencies. 2. Establish clear and ongoing communication channels — and do it early. Without regular communication, trust can deteriorate rapidly. So decide what channels work best for your partnership (Slack, email, Zoom meetings, or conference calls, for example) and align how frequently you'll be in contact. Setting these boundaries early will help ensure that you and your partner sustain a timely and consistent workflow. And don't forget to create a process for extraordinary communications. Good communication starts with good onboarding. So in addition to building a curriculum that educates your partner on your customers, brand, voice, offerings, and business model, use the onboarding process as an opportunity to establish the culture of your partnership. Strong partnerships are good social fits. Is your culture hierarchical or flat? Formal or informal? Being aligned on culture is key to maintaining a healthy line of communication through the life of your partnership. 3. Meld internal and external perspectives. You know the business; the agency knows its craft. Agencies also have a depth of experience across industries that can help you identify novel opportunities. The trick is to weave these internal and external perspectives. To that end, invite your agency account manager to sit in on relevant meetings where your company's overall marketing and brand strategy is discussed. 4. Establish clear objectives and align on metrics. Many companies do not have clear objectives for their social media activities. This can make it difficult to judge the value of agency inputs. The most effective social media activities have clear objectives and measurable performance. Decide on these metrics with your agency partner before embarking on a social media initiative. 5. Keep one hand on the steering wheel. By handing over full responsibility for filtering feedback to the agency, many companies miss relevant customer input. Instead, establish a regular cadence to access customer sentiment and important summary information from the agency. Doing both is especially important in this period of unprecedented market disruption. 6. Seek partners that adapt in times of uncertainty. Social media management is constantly being challenged by digital disruption. The pandemic has made this need even clearer as marketers report they improvised quite a bit during these past few months (5.6 on a 7-point scale, where 7 = A Great Deal). Companies need nimble partners that can quickly shift their resources and strategy as needed. 7. Stay attuned to social and political issues through your agency partner. Social media agencies are likely to be more deeply attuned to the political and cultural discourse than you are — that's their business, after all. Listen and learn from them 8. Help the rest of your business learn from your social media agency partnership. Social media partnerships are just one of several collaborations your company will rely on. So as you work with your social media partner, think about what you are learning about managing a healthy partnership in general.

Using Social Media to Connect with Your Most Loyal Customers (Free HBR Article) - Know the five dimensions of brand experience. Also, know which dimensions were more effective in creating a positive social media experience.

1. Relational: posts make a connection beyond the recipient, for instance encouraging the use of product together with others, or as part of a tribe of interested consumers. 2. Intellectual: posts prod the recipient to engage in conscious mental processing, perhaps through humor, problem solving, or creativity. 3. Behavioral: Posts that are high on the behavioral dimension include activity or interaction with the product or service. 4. Sensory: posts stimulate the senses and could involve breathtaking images or shocking multimedia content. 5. Emotional: Finally, emotional posts attempt to generate moods or feelings in the recipient. Once the posts were scored, we then analyzed the efficacy of each dimension in driving sales to loyalty program and non-loyalty program customers. MORE EFFECTIVE Relational: connect the recipient to a larger community around the product or service, strengthening a feeling of belongingness Intellectual: more effective with loyalty program customers. These customers are more invested in the brand and are therefore more likely to put forward the mental effort to engage mindfully with a detailed, intellectual post

Know the 4 questions a firm needs to ask before developing a digital strategy.

1. What are your goals? 2. Which platforms should we be using? 3. What is your content strategy? 4. Are you ready to talk with your audience — in real time?

Steps involved in implementing a consumer narrative strategy.

1. Work with consumers to generate believable and compelling stories 2. Convert stories into high-quality presentations. 3. Embed stories in your social media mix. 4. Integrate paid media strategies with voluntary sharing of stories on social media

Steps involved in a social media plan

2. Choosing a Platform: The size of the active user population on a platform is an important consideration, and it is a large reason that Facebook is frequently a good choice. However, what matters more than total population is the population density among a company's likely customers. For example, a company wishing to target a younger population will find a higher density of their potential customers on Instagram or Snapchat rather than on Facebook. A company conducting social media in Mexico will find more active users on WhatsApp. -(1)The population characteristics of each platform (2)The nature of company-person interactions on the platform.

Steps involved in a social media plan

3. Plan the Content: Content Types -Original content is what naturally springs to mind for most people when they think of company social media content. In addition to (1) original content, a company can also post (2) user-generated content, (3) co-created content, and (4) curated content. Original content. Original content is, as its title suggests, content that is original to the company. The main advantage of original content is that the company is not limited by outside entities and retains complete control over the messaging and creative content of its posts. The vast majority of social media content created by companies is original content. Repurposed content refers to content created by a company for another purpose (e.g., content for an ad campaign or for a pamphlet) and repurposed for a social media post. Repurposed content is still original content, since it was created by the company. Posting repurposed content can be beneficial because it makes better use of limited resources and helps to keep company messaging consistent across multiple channels. -User-generated content. User-generated content is any content created by a platform users. Often, companies invite customers to create content around a particular theme and then either (1) choose some of the best submissions to be reposted by the company or (2) encourage customers to use a particular hashtag so that the users' content will automatically be linked via the hashtag. -User-generated content can have two important benefits for a company. Not only does the company expand the amount of potential content to use, but the company also personalizes the connection it has with its customers. Posting content from customers can humanize the company and thereby make the company-customer connection feel more personal. The major disadvantage of user-generated content is that customers often do not have an incentive to respond to the company's request for content. Creating content requires effort on the part of the customer, so a customer will not generate content unless they have an intrinsic motivation (e.g., they already feel a close connection with the company or creating the content is itself fun) or a sufficient extrinsic motivation (e.g., they receive a discount or an entry into a drawing in exchange for submitting content). User-generated content with customers typically works best during a concentrated time window rather than on an ongoing basis. -Co-created content. Co-creating content with other brands can yield benefits for both of the participating brands, because both brands get exposure to the other brand's followers. Though co-created content exists on all social platforms, it is especially widespread on YouTube. Another benefit of co-created content is that combining creative forces can help a company create unique content. Content creators must continually create unique and appealing content, which can be difficult to do consistently. Teaming up with another content creator is likely to result in content that is unique from each creator's solo content. -Curated content. Finally, companies can also post content created entirely by another entity. On Twitter, this may be as simple as retweeting someone else's tweet. On Instagram, many profiles (particularly in the travel sector) do not create any of their own photos or videos but merely post pictures taken by other Instagrammers. Company social media profiles can post curated content to supplement their original and co-created content, but curated content should typically be only a small proportion of the content.

Steps involved in a social media plan

4. Distribute and Promote Content (just before followers are active): The best social media content in the world will not benefit a company if nobody consumes its content. Thus, an important aspect of social media activity is the distribution of content. To achieve distribution of its posted content, a company must attract engaged followers to its owned social media profiles. As mentioned previously, company social media profiles are typically at a disadvantage, because platforms are less likely to show posts from companies than posts from friends. To overcome this disadvantage, a company must have engaged followers. A second method of achieving distribution is through earned media, which is any exposure to the company's content generated by the activity of agents external to the company. Finally, a company can pay for distribution (i.e. paid media).

Steps involved in a social media plan

5. Measuring Success: Total Number of -Likes/Subscribers/Followers. Total followers should likely not be a KPI, because having millions of followers does not guarantee widespread reach of social media content. In fact, most social media experts consider total followers to be nothing more than a vanity metric. That said, if accumulating engaged followers is the central aim of a company's social media efforts (in the short term—this would not be a good long-term strategy), it will want to track the total number of followers or subscribers it has earned. -Follower Growth. The percent growth or decline in a follower list is useful metric for tracking efforts at list growth. -Impressions/Views. Even when a company has very engaged followers, its content is not likely to be seen by even half of its followers. Not every follower will see every piece of content the company posts. First, not every user will use the social media platform frequently enough to see all the content. Second, most social media platforms only show a subset of potential content to users. Tracking how many followers saw each piece of content lets the company know the real reach of its social media content. This tracking can be done in terms of raw numbers or as a percentage of followers who saw the content. Measuring Engagement -Re-Posts/Re-Tweets/Re-Pins. A reliable measure of the quality of any individual piece of social media content is the number of its followers who like the content enough to post it to their own social media profiles. Re-posts are how a company gains the valuable earned media it strives for. -Likes/Comments. Not to be confused with a "Like" of the company's Facebook page, this measure refers to likes or comments on a particular piece of content on the company's social media platform. Though re-posts are more valuable than likes or comments, earning likes and comments are still valuable because they indicate that followers are engaged with a company's content. -Engagement Rate. Rather than measure engagement with a particular piece of content, the engagement rate measures the percentage of users who have engaged with any piece of content within a given time period. A company might measure the proportion of its followers who have clicked on, liked, commented on, or watched a video of any posted content within the last month, for example. This provides a good indication of the overall level of engagement of a company's base of followers. Having a large number of followers is not beneficial to the company if this engagement rate is close to 0 Measuring Loyalty -Conversion Rate. Any content that promotes a particular product should increase the sales of that product directly from the social media platform where that content was posted. Tracking the percentage of users who purchase directly from a piece of social media content is easily done with any analytics package. -Purchase Frequency/Likelihood. If the goal of a social media campaign is to create customers or retain customers through its social media content, then followers of that social media account should purchase more frequently or be more likely to purchase than non-followers. This measure comes with two large caveats, however. First, a higher purchase frequency or likelihood may not be caused by the social media content—it may only reflect the fact that loyal customers are more likely to connect with the company on social media. Second, obtaining the data that make this calculation possible may be difficult. Several software programs enable companies to connect customer purchase data with those customers' social media data, but these connections are often imperfect, meaning this calculation is based on partial data. Social Listening Measures -Social listening requires the use of a social listening software like Crimson Hexagon, SproutSocial, Nuvi, or one of dozens of others. The first step is to train the listening software on the words and phrases the company wishes to track. Even this first step has pitfalls, as mentioned in Section 1 of this chapter. -Volume. Companies often believe that the total number of social media mentions is a good reflection of their social media performance. After all, earned media is one of the goals of social media activity. However, this line of thinking has two pitfalls. First, not all social media mentions are positive. Second, the total number of social media mentions may not be reflective of overall business performance. BMW may earn more social media mentions than Honda, but Honda earns a much higher profit than BMW. -Sentiment. Social listening software provides automatic sentiment coding. That is, it will score each social media mention as positive, neutral, or negative. The percentage of positive social media mentions can be used by companies as a signal of their performance, but this measure also has pitfalls. First, such automatic encoding can be inaccurate, since the software typically cannot understand sarcasm. Second, some product categories, like airlines, are simply more prone to negative social media mentions, so even a high-performing company may end up with a high percentage of negative social media mentions. -Changes in volume and sentiment. Because of the pitfalls of both volume metrics (total number of social media mentions) and sentiment metrics (percentage of positive comments), companies should not blindly trust either metric is an indicator of performance. Instead, companies should look at the combination of volume and sentiment benchmarked by the past. That is, what matters more than the volume and sentiment is how the volume and sentiment have changed. If a company sees an increase in volume and a decrease in sentiment at the same time, this may indicate a coming brand crisis. An increase in volume and an increase in sentiment at the same time may indicate highly effective social media activity that should be built on. -Topic. Not only do companies want to know the sentiment surrounding company mentions, they also want to know what is being said. Are consumers talking about customer service, product quality, brand image, and so forth? The topics being mentioned in consumers' posts can serve as a gauge of performance on a variety of dimensions.

Network

A chain of communication that connects places

Data Privacy Rules Are Changing. How Can Marketers Keep Up (Free HBR Article) - Know the tools than can help companies to keep up with changing requirements and regulations

Analyticsandautomation

4 Questions to Boost Your Social Media Marketing (Free HBR Article) - Why the prevalence of social media is a double-edged sword?

Consumers today react to products, services and ad campaigns in real-time through social media, creating new demands on organizations. Generating and sustaining high levels of engagement and enthusiasm online requires clarity around the firm's goals and values

How to Get More from Your Social Media Partner (Free HBR Article) - Focus on the fact the firms are outsourcing their social media activities and form partnership

More and more, companies are outsourcing their social media activities (since 2014 the percentage of social media activities performed by external agencies has climbed from 17% to 24% in 2020) and cutting in-house social media costs (since 2014, the number of social media staffers per company has dropped from 4.1 to 3.1 people). But despite this rise in outsourcing, marketers don't give themselves high marks for managing these partnerships (they rate their own ability to "manage external digital marketing partners and agencies" just a 3.8 on a 7-point scale, where 1 = Poor and 7 = Excellent).

Carousell: Growing a Peer-to-Peer Mobile App Business by Building a Community (Paid HBP Course pack) - Know what the growth strategy at Carousell was.

Localization: Languagecustomizationiskey

How to Keep Complaints from Spreading (Free HBR Article) - Know how to identify a post that is more likely to go viral.

Posts containing intense emotions—especially "high-arousal" emotions such as anger, fear, anxiety, and disgust—were more likely than others to spread. Strong ties between a post's author and the community drove contagion, as did linguistic similarity—and both those factors amplified the virality effects of intense high-arousal emotions

The Era of Antisocial Social Media (Free HBR Article) - Know why young people are moving away from social media platforms.

They're saying that after years spent constructing carefully curated online identities and accumulating heaps of online "friends," they want to be themselves and make real friends based on shared interests. They're also craving privacy, safety, and a respite from the throngs of people on social platforms — throngs that now usually include their parents

How to calculate # of all possible connections

[nx(n-1)]/2