Mis Midterm Pt. 2

Group Shopping

Websites such as Groupon and LivingSocial offer major discounts or special deals during a short time frame

Viral Marketing

Word of mouth advertising- lends itself especially well to social networking

Conversational Marketing

Feedback from customers provided to companies through social computing tools (blogs, wiki, social network sites)

Social Computing: Customer Relationship Management

-Improves Customer Service a. customers are now empowered as companies closely monitor negative comments and proactively involve customers to resolve problems/issues b. empowered customers know how to use the wisdom and power of crowds and communities to their benefit

Using Facebook for Market Research

-Obtain feedback from Facebook fans -Test-market your messages -Use Facebook for survey invitations

Using LinkedIn for Market Research

-Post a question -Solicit advice from a LinkedIn Group

Using Twitter for Market Research

-Visit Twitter Search -Monitor industry specific keywords -Review TweetStats -Solicit information from customers and interact with them

Human Resource Management

1. Recruiting 2. Finding a Job 3. Employee Development

Social Marketplace and Direct Sales

Act as online intermediaries that harness the power of social networks for introducing, buying, and selling products or services. Helps member market their own creations

Peer to Peer Shopping Models

Are the high tech version of old fashioned bazaars and bartering systems. Individuals use these models to sell, buy, rent, or barter online with other individuals

Recruiting

Both recruiters and job seeks are moving to online social networks as recruiting platform

Ratings, Reviews, and Recommendations

Come from a. customer ratings and reviews b. expert ratings and reviews c. sponsored reviews d. conversational marketing

Conducting Market Research using Social Networking

Customer sentiment expressed on Facebook, Twitter, LinkedIn and similar sites represent an incredibly valuable source of information for companies allowing them to analyze the data, conduct better advertising campaigns, improve their product design and their service offerings

Finding a Job

Entry level positions listed online. Job sites are the fastest and least expensive and most efficient method to connect employers to potential employees.

Employee Development

HR professionals are using enterprise social tools such s Chatter, Yammer, and Tibbr to enable and encourage employee development through relationship building by providing a platform for employees to collaborate on sales, campaigns, and projects. Elearning and Etraining can also be leverage through social computing

Shopping Communities and Clubs

Host sales for their members that just last a few days. These clubs tend to be exclusive and help sell luxury items without watering down the brands image

Social Advertising

Refers to the advertising formats that make use of the social context of the user viewing the ad. It is the firm form of advertising to leverage forms of social influence such as peer pressure and friend recommendations and likes

Market Research

Today members of social media voluntarily provide demographics that help identify and target potential customers. Due to the open nature of social networking, merchants can easily find customers, see what they do online, and learn who their friends are