BUS 346 Ch. 3

Conversion rate

a measure that indicates what percentage of potential customers act as the marketer hopes, either by clicking, buying, or donating

One important measure of social media's effectiveness is the percentage of site visitors who take the action the site owner hoped for—making a purchase, subscribing to a service, or donating money, for example. This measure is called the site's

conversion rate

While waiting in line to make a purchase at Best Buy, Joanie sees signs reminding her to visit the company's website for online specials and to sign up on her smartphone for the Best Buy Loyalty Rewards Program. Other signs remind her that Best Buy will match competitors' prices on any item they sell. This is an example of which of the 4E framework objectives?

educate

For marketers, media-sharing sites such as YouTube or Flickr are social media tools best used to

encourage customers to engage with the firm and experience its products

One measure of traffic from visitors on sites, the total page requests, is measured in units called

hits

Companies can find out a lot about customers using sentiment analysis on sites like Facebook and Twitter, or put another way, by

listening (sentiment analysis is all about listening to what customers say on social media, blogs, etc.

When the Minnesota Timberwolves encouraged Facebook fans to post a great shot of a dunk onto its Pinterest page for a chance to win tickets to a game, which dimension of the 4E framework was being targeted?

Excite

4E Framework

Excite (mobile applications, games, active social media) Educate (on website or in stores) Experience (offer ways they can experience product or service) Engage (media sharing sites)

Your text notes that the networking benefits of LinkedIn are particularly beneficial for which group?

Small business owners

Which of the primary motivations do consumers spend the least amount of time engaging in on their smartphones?

The need to self express (people use apps to satisfy needs of self expression)