MAKETING CH 19 SOCIAL MEDIA AND MARKETING

What Are Social Media?
Any tool or service that uses the Internet to facilitate conversations.
Social Media Tools and Platforms
1. social networks
2. blogs
3. microblogs
4. media sharing sites
At the basic level, social media consumers want to:
– Exchange information
– Collaborate with others
– Have conversations
Social Commerce
A subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling of products and services.
Social Media and Integrated Marketing Communications Allows marketers to:
– have conversations with consumers
– forge deeper relationships
– build brand loyalty
Social Media and Integrated Marketing Communications Allows consumers to:
– connect with each other
– share opinions
– collaborate on new ideas according to interests.
Categorizing Media Types
1. owned media
2. earned media
3. paid media
Owned media
is online content that an organization creates and controls.
Earned media
is a public relations term connoting free media such as mainstream media coverage
Paid media
is content paid for by a company to be placed online.
The first action a marketing team should take when initiating a social media campaign is simple:
LISTEN!
Eight Stages of Effective Listening
1. without objective
2. tracking brand mentions
3. identifying market risks and opportunities
4. improving campaign efficiently
5. measuring customers satisfaction
6. responding to customer inquiry
7. better understanding of customers
8. being proactive and anticipating customer demands
Listen and Learn
Monitor what is being said about the brand. Develop a listening strategy.
Build relationships and awareness
Open dialogues with stakeholders. Answer customer questions candidly.
Promote products and services
Get customers talking about products and services.
Manage your reputation
Respond to comments and criticisms. Participate in forums and discussions.
Improve customer service
Seek out displeased customers and engage them directly to solve issues.
Social Media Metrics
– buzz ( volume of “chatter”)
– interest ( Likes)
– participation (comments, ratings, bookmarks, tweets, pins )
– search engine (# of time searched, search words)
– influence ( media mentions, bloggers reached, retweets)
– sentiment analysis (positive, negative, neutral, trend, volume)
-web site metrics (clicks, clickthrough rate % of traffic )
Media Users
– creators ( produce and share content)
– critics (comment, rate, review)
– collectors (use RSS feeds to collect information and vote for websites )
– joiners (maintain social networking profile and visit other sites )
– spectators (read, blogs, listen to podcast, watch video)
– inactives (none of the above)
creators
Those who produce and share online content like blogs, Web sites, articles, and videos
Critics
Those who post comments, ratings, and reviews of products and services on blogs and forums.
Collectors
Those who use RSS feeds to collect information and vote for Web sites online.
Joiners
Those who maintain a social networking profile and visit other sites.
Spectators
Those who read blogs, listen to podcasts, watch videos, and generally consume media.
Inactives
Those who do none of these things.
Blog
A publicly accessible Web page that functions as an interactive journal, whereby readers can post comments on the author’s entries.
Corporate Blogs
Blogs that are sponsored by a company or one of its brands and maintained by one or more of the company’s employees.
Non-corporate Blogs
Independent blogs that are not associated with the marketing efforts of any particular company or brand.
Microblogs
Microblogs are blogs that entail shorter posts than traditional blogs.
Marketing Goals for Social Networking Sites
– Increasing awareness
– Targeting audiences
– Promoting products
– Forging relationships
– Highlighting expertise and leadership
– Attracting event participants
– Performing research
– Generating new business
Media Sharing Sites
Web sites that allow users to upload and distribute multimedia content like videos and photos.
Social News Sites
Web sites that allow users to decide which content is promoted on a given Web site by voting that content up or down.
Location-Based Social Networking Sites
Web sites that combine the fun of social networking with the utility of location-based GPS technology.
Review Sites
Web sites that allow consumers to post, read, rate, and comment on opinions regarding all kinds of products and services.
The Social Media Plan
1. listen
2. set social media objectives
3. define strategies
4. identify target audience
5. select tools and platforms
6. implement and monitor the strategy
The Changing World of Social Media
The rate of change in social media is astonishing—usage statistics often change daily.