Mktg Principles of Marketing third Canadian edition: Chapter 18

Social Media
Collection of online communication tools that facilitate conversations online; when used by marketers, social media tools encourage consumer empowerment.
Crowd Sourcing
The use of consumers to develop and market products.
Foundation of co branding.
Social Commerce
A subset of e-commerce that involves the interaction and user contribution aspects of social media to assist in the online buying and selling of products and services.
Owned Media
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 the company to be place online.
Here are some practical ideas that marketing managers should consider when setting social media objectives.
1., Listen and learn,
2., Build relationships and awareness,
3., promote products and services,
4., manage your reputation,
5., improve customer service
Some social media metrics to consider include the following
1. Buzz,
2. Interest,
3. Participation,
4. website metrics,
5. search engine ranks and results,
6. influence,
7. sentiment analysis
Six Categories of social media users, and another set of six categories
1. creators,
2. critics,
3. collectors,
4. joiners,
5. spectators,
6. inactives.
1. now shows,
2. newcomers,
3. onlookers,
4. cliques
5. mix n mingle
6. sparks
Blogs
Publicly assessable web pages that function as interactive journals, whereby readers can post comments on the authors’ entries.
Corporate or professional 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.
Micro Blogs
Blogs with strict post length limits
Social Networking sites
websites that allow individuals to connect,- or network- with friends, peers, and business associates.
Media sharing sites
Websites that allow users to upload and distribute multimedia content, such as videos and photos.
Social News Sites
Websites that allow users to decided which content is promoted on a given website, by voting that content up, or down.
Location Based Social Networking Sites
Websites that combine the fun of social networking with the utility of location based GPS technology.
Review Sites
Websites that allow consumers to post, read, rate, and comment on opinions regarding all kinds of products and services.
Apps
Short for applications; free or purchased software programs that are downloaded to run on smartphones, tablets, computers, and other mobile devices.
Creating an effective social media strategy plan has six stages
1., The listening stage,
2., Set social media objectives,
3., identify the target audience,
4., define strategies,
5., select tools and platforms,
6., Implement and monitor the startegy,