Digital Marketing and Social Media Final Exam

Today's consumer

Always on digitally connected world - goal with them: shift from awareness to purchase - their journey is increasing self directed

Why to account for customer search cost?

Customer's dont search for about 70% of their shopping trips simply because the search costs are too high. If search costs were cut in half elesticity of demand would triple.

Cybersecurity

Issues - Spyware and malware - network is down - vulnerability to hacking Impact - Reputational risk - failures and hostile cyber actions have profound imapcts on enterprise performance

Why content marketing

It may influence/support consumers in different stage of their buying journey - awareness - consideration - loyalty - advocacy Can shorten or support journey

Social analytics

Measure: content and promotion Key metrics: reach, enagement, average engagement rate, impressions, visits, conversion rate

Push marketing

Promote products and persuade consumers to buy products (sale displays at stores/online)

Degree of centralization or openness

Social lock in: when a user is unable to transfer social contacts and content from one social network to another Identify portability: a single profile would provide access across social networking sites with a single login and shared information

Objects that mediate the relationships between members

Vertical networks: describes the narrow, deep focus of social networking sites that differntiate themselves because they emphasize some common hobby, interest or characteristic that draws memebers to the site

Conversion, how to measure

When a customer makes a purchase or fills out a contact form - increased conversion rates (measured by sales or leads)

Earned media

When someone says something positive about a company or it's product through social media, blogs, news articles etc.. they are not compenstated

Big data

When the volume, velocity, variability and variety of data exceed an organization's storage or compute capacity for accurate and timely decision making

Advergames

a blend of advertising and games game is designed by brand, branded entertainment benefits: - gamers are open to advertising content in games - brands benefit when they are associated with a successful game - players identify with the brands their characters use - increases brand involvement - an ounobtrusive way to share a brands core message - targeting with in game ads

Intention mining

aims to dicover users' intention from media text (such as buy, sell, recommend, quit, desire, wish) through this, can find new potential customers who intend to buy a product service existing customers who have trouble with a product

Sentiment analysis

analyzes and categorizes social media text as being positive, negative or neutral

Paid media

bought through other media - display advertising, paid searches. can help increase brand awarenss bc it is a quicker and larger type of promotion

Traditional marketing

broad category that incorporates long established stratiegies - print, broadcast, direct mail, telephone most popular forms: - newspaper adv - magazine adv - radio and television commericals - telephone calling - postcards, brochures, catalogs

Owned media

channels that a company controls (websites, social media networks) useful when a company has an outbound campaign that is connected to website or social media - can used owned media to track and monitor customer actions they provide value to leads as they move down the funnel, more controlled but not overly promotional

Web analytics

collects and reports all key data on website and mobile performance Data: location, device type, page views, bounce rate, new vs. returning visitors, browser, which page they came from, conversions

Social media matrix

created by Zhu and Chen Profile based/customization: relationships (interact with others) Profile based/broadcast: self media (update followers) Content based/customization: collaboration (users can collaborated with eachother, find answers and advice) (cusomer serivice from a marketer aspect) Content based/broadcast: creative outlet (share interests and creativity) (from a marketer perspective can use programmatic adv. that targets user data.

Content marketing

creating and distributing valuable, relevant and consistent content to attract and aquire a clearly defined audience through this: brands create interest, relevance and relationships with customers by producing, curating and sharing content that addresses customer needs and delivers visible value

Social media actions analytics

extracts, analyzes and interprets actions performed by social media users, including likes, dislikes, shares mentions and endorsements tracks engagement, social media marketing, brand popularity and refferals

Omni channel marketing

interacting with the customer across multiple channels (brick-and mortar-, website, social media, mobile, etc.), and ensuring the experience across all channels is seamless. integrated, and consistent

Hedonic products

lifestyle & entertaintainment. More experiemental consumption, pleasure and excitement consumers seek vareity/enjoyment. Products have greater promotion focus and may indulge in impluse buying and vareity seeking

Multichannel marketing

marketing both through stores and other traditional offline channels and through digital, online, social media, and mobile channels however they are not all consistent but rather fragemented

Digital marketing

marketing of products or services using digital technology like the internet, smartphones and other meerging devices - email - phones - company websites - display adv - social media

Social listening

monitor social media posts and discussions about your brand and figure out how people feel or react to your brand.

Consumer behavior is changing

non linear consumer buying process implies a shift from push to pull marketing (grabbing the attention of the consumer and luring them in) - Marketers need to be where consumers are searching and sharing - need to develop more fluid structs - the user/customer experience is important.

Utilitarian products

products that involve conisderable cogntivie effort and have search attributes (functional aspects: computers, cars)

Marketing's past

"spray and pray" - comapnies put out marketing efforts and hope customers react

Predictive Analytics

"what will happen"

Dimesions of social media marketing

- Audience and degree of specialization - The objects that mediate the relationships between memebers - Degree of centralization or openess

5 stages of information processing AIDA (R)

- Awareness (Attention) - Interest - Desire - Action - Retention

Downsides of online shopping

- Choice overload - product uncertainty

4 C's of integration

- Coherence: different communications logically connected - Consistency: multiple messages support eachother. not contradictory - Continuity: consistent through time - Complementary: sum of the parts is greater than the whole

IN-game advertising types

- Display ads: integrated as billboards, movie posters, storefronts, or ad space on game screen - Static ads - hard-coded into game - Dynamic ads: not hardcoded into game, interchangable

Benefits of digital marketing

- Own your own channel - able to track the customers movements through clicks and purchases and through this get insight into how they think - get real time analytics (social media analytics) - Increasing conversion rates

Strategies for brand integration

- Plot placement: interactive product placement, branded in game exepriences- game integration between game and brand

Social media as a digital channel

- Product reviews - Online ratings - Networks/social hubs influencers benefits: information, value

Product Placement (in game)

- Screen placement: included in scenery (fifa players wear adidas shoes) - Script placement: verbal mentions of brand and attributes within plot (branded soft drinks) Benefits: - transactional advertising (one way: sales oriented) - integrated into game - rewards if respond to a request - virtual goods, currency or codes

The 5 S's

- Sell (customer acquisition) - Serve (customer satisfaction) - Sizzle (visit duration) - Speak (communication, engaged customers) - Save (quantified efficiency gains)

Web/Online channel

- Social media (mkt intellegence) - Search engine (online adv) - Email - information search - purchase

Audience & degree of specializations

- Social searchers use the site to find people they connect with offline to learn more about them - Social browser would use the site to find people or groups online with whom they would want to connect offline (stores)

5 V's of data

- Volume: Scale of data (growth of world data is expontential) - Variety: Different forms of data (structured or unstructured) - Velocity: Speed of increase in the volume of data - Veracity: Uncertainty of data - Viability: Selecting attributes that matter most to companies - Value: Veracity + viability creates value (risk of creating big costs without strong value, however you can gain unique learning and valuble insights)

Analytics tools

- Web analytics - Social analytics - SEO analytics - User experience - Tag management

Server based analytics

- Web server log files - Potential issues: search en spiders or bots, caches

Internet as search & decision tool

- higher quality alternatives - low search costs - Better choice - Price competition - Non-price based outcome-customised emails

Tactics to reduce search costs

- include ranking and filter tools (include demand on the bestselling products)

Consideration, how to measure

- increased total page views - longer visit durations - lower bounce rates - social metrics

Drawbacks of digital marketing

- less personal - easy for consumers to target all different kinds of products and services through social media - vulnerable to spammers and scammers

Consumer buying process

- problem recognition - search - alternative evaluation - purchase behavior - post purchase evaluation

Awareness, how to measure

- ranking in SEO - number of first time visitors - social metrics (likes, follows, etc..)

Strategy models RACE

1. Plan: what is strategy 2. Reach: increase awareness 3. Act: encourage interaction of prospects with brand content: drive engagement 4. Convert: encourage conversion 5. Engage: long term engagement to drive repurchase or advocacy

5 factors of importance for reviews

1. Volume: the more reviews the more the consumer will beleive it 2. Average ratings 3. Reveiw subjectivity: reviews with facts: more impactful 4. Review readability: Reviews are less complex 5. Disclosure of identity

Two types of channels

1. Web/online channel 2. Bricks and mortar channel

Mobile commerce advantages

1. convienience 2. a whole new market 3. immediate gratification

Marketing on social media made up of:

1. engagement element 2. non-engagement element

Three levels of online search

1. search for the website: needs to be able to be found - SEO 2. search within the website: need to be able to search site easily - has easy interface 3. search within web pages to find the exact info they seek: quality of page design is important

Pull marketing

Establish a loyal following and draw consumers to the products. ex: frequest flyer programs, loyalty card programs, social media promotions

The role of digital in CSR

taking material from the CSR report and tailoring it to other digital channels (integrating) - can reach wider publics Can break down the barriers between the corporation and its audience making the organization more relatable and authentic Digital corporate strategy should include multiple channels, messages and forms of content to engage and interact with stakeholders

Corporate Social Reponsibility

the integration of social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis voluntary firm actions which benefit society

Social media is

the online means of communication conveyance, collaboration and cultivation among interconnected and interdependent networks of people, communities and organizations

Social commerce

used social medai apps to enable online shoppers to interact and collaborate during the shopping experience Assists retailers and customers during the experience (online ratings and reviews, deal sites)