Social Media Marketing Quiz 1

the 4 C’s of social Media
online means of: communication, conveyance, collaboration, cultivation
What is Social Media
Interconnected and interdependent networks of people, communities, and organization
How is social media enhanced
technological capabilities and mobility
Social Media stats as July 2015
World: 7.3 billion
internet: 3.17 Billion
social media users: 2.3 Billion
YOY growth: 176 Million
New users: 12/sec
Time to reach 50 million users
Radio = 38 years
TV= 13 years
Internet= 4 years
Facebook = 100 million users in under 9 months
how is social media ranked among online activity worldwide
#1
94% of companies use what as their primary recruiting tool
LinkedIn
1 out of every 6 couples married in 2013 met how?
on a social media site
Facebook
4 billion pieces of content shared daily
Social Media Marketing
utilization of social media technologies, channels, and software to create, communicate, deliver, and exchange offerings that have value for an organization
Objectives of Social Media Marketing
-Increase awareness
-influence desire “power of consumer”
-encourage trial
-facilitate purchase
-cement brand loyalty
-recovery from service failures
What is the quickest way to access the market
SOCIAL MEDIA
Zones of social media
Community
Commerce
Publishing
Entertainment
Community
sharing, socializing, conversing

Ex: facebook, twitter, linkedIn

Commerce
CRM/service, retailing/sales, HR

Ex:groupon, yelp, pinterest, Amazon

Publishing
Editorial, commercial, user-generate

Ex: reddit, tumblr, odyssey

Entertainment
Games, Music, Art

Ex: myspace, tinder, netflix

E-commerce
practice of buying and selling products and services via the internet
Social Commerce
subset of e-commerce

ability to make a product purchase from a third party company within the native social media experience

benefits of social commerce to shoppers
ability to compare, shop easily and efficiently, convenience, enhanced selection, and cost savings.
Social Shopping
refers to refers to situations where consumers interact with others during a shopping event online
sales are managed through social media and the seller’s website
social commerce
allows customers to share experiences before, during and after purchase, which could lead another customer to enter that store or visit the website
social commerce
allows the company to identify who is visiting, which can lead to a narrowed target audience that will generate additional sale
social commerce
allows current customers to reach potential consumers and better track the types of consumers responding to social media marketing
social commerce
Purchases are managed directly from the company website
e-commerce
customer generates the interaction; customer chooses to visit that website to make a purchase
e-commerce
makes it difficult for marketers to know who the customers are that visit either a storefront or website
e-commerce
online chat options and email campaigns
e-commerce
Marketing values of Social Commerce
ratings and reviews, recommendations and referrals
ratings
10/10 – always numerical – 5 stars
reviews
statements about experience
Characteristics of social commerce approach
authenticity
transparency
advocacy
participation
reciprocity
infectiousness
sustainability
Authenticity
accept organic word of mouth
transperancy
acknowledge opinions that were invited, incentivized, or facilitated
Advocacy
enable consumer to rate the value of opinions
Participation
encourages consumers to contribute reviews and ratings
Reciprocity
acknowledge the value of consumer opinions
Infectiousness
Make it easy to share
Sustainability
remember opinions online live on
Social Marketing Guidlines
-educate people about products
-identify people most likely to share opinions
-provide tools to make it easier to share opinions
-study how, when, and where opinions are shared
-listen and respond to supporters, detractors, and neutrals
Psychological factors
Why we do what we do
Psychological factors
social proof
authority
affinity
scarcity
reciprocity
consistency
social proof
look up to people and want to do the same
authority
doctor sponsored, medicine, people of authority in that field.
affinity
wearing Jordan’s/ nike because of Michael Jordan’s.. fan girl… following someone
scarcity
Limited edition, want what you don’t have, niche market.
reciprocity
rewards program, you give me and i give you
consistency
chick-fil-a.. you know what to expect
The decision Making Process
problem recognition -> information search -> alternative evaluation -> purchase -> post-purchase evaluation
Problem recognition
-social ads on social networking sites
-shared endorsements from friends posting in activity streams
-curated images and lists on sites like pinterest
-location-based promotions
Information search
-comments (influence impressions) on social channels (tweets about experience)
-Queries and responses within social networks (LinkedIn, Facebook)
-ratings and reviews posted on sites (yelp)
-product and pricing information available
-deal directories
-wish lists, gift registries
Evaluation of alternatives
-barcode scanning / price comparisons
-recommendations, testimonials, recommendation agents, popularity filters (top lists from retailers such as amazon)
-referrals
Purchase
Shop within network options (Facebook buy)
-social stores and social shopping malls (wanelo)
-group buys (groupon)
Post-purchase
-share opinions in activity streams
-ratings and reviews on review sites and retailer website
-reviews and product experiences posted on blogs
4 P’s of marketing
product, price, place, promotion
the 5th P of marketing
Participation
The marketing Mix
marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Marketing Planning
written/ formalized plan that details the product, pricing, distribution, and promotional strategies that will enable the brand in question to accomplish specific marketing objectives
What are plans
they are blueprints for marketing strategy formulation and implementation

they serve as a roadmap to guide the firm, allocate resources, and make decisions

Stages of Social Media Marketing maturity
trial phase -> transition phase -> strategic phase
A plan _______
-tells a story
-identifies the characters, place and time
– tells how current situations came to be
-defines what must happen for a good outcome
-establish challenges and what must be done to overcome them
-clarifies the desire outcome
-specifies measures of success (metrics!)
Good Plan Characteristics
-understand the marketplace
-establish clear measurable objectives
-define performance targets
-Identify a customer group
-explain what customers want
-develope strategies tied to objectives (4 P’s)
-Include measurement plan
Steps in Social Media Marketing Planing
1. conduct a situation analysis
2. state objectives
3. gather target audience insight
4. select social zones and vehicles
5. create an experience strategy
6. establish an activation plan
7. execute and measure campaign
Situation analysis
-review the firms environmental and SWOT analysis
-review the existing marketing plan and any other information that can be obtained about the company and its brands
-review the firms objectives, strategies, and performance metrics
Situation analysis: questions to ask
-are there linkages between direct strategy and social?
-what activities can be tied to social media?
-what resources can be directed to social?
-is the organization prepared for social?
-who are our customers? are they social users?
-who are out competitors? what social media activities are they using?
-what key trends may affect our decisions?
Objectives and budgeting
task – what?
measurable quantity – How?
time frame – when?
sample objectives
-increase market share
-increase the number of comments on a blog
-increase sales revenue
-reduce costs
-achieve branding goals
-increase database size
-achieve customer relationship management goals
-improve supply chain managment
Gather Target audience insight
-which segments should we select to target?
-in which zones and communities do they participate?
-how do they use social media?
-What is important to them?
Select social zones
considering our objectives, budget, overall direct strategy, and segment insight, which zones should be used and how?
developing an experience strategy
-what are the campaign goals and/or communication tasks?
-what is unique and special about the brands position in the marketplace?
-who is the target audience? what do you want the audience to do? do you want them to talk to the brand? create and share content?
-is there another group of people who can persuade the target audience to follow them? (this group is your influencers. Why would these people want to share your message with others? what’s in it for them?
Influencer marketing
Meghan Rienks = old navy
“regular women” = glossier
influential social media personalities = Gap(shop this look)
DJ khaled = Stride Gum
Kendall Jenner = esteemed Lauder
Activation Plan
-How do we make the plan happen?
-who is responsible?
-what is the timing?
-what budget is needed to accomplish each objective?
-how do we ensure the plan is consistent with out target objectives?
Manage and measure
-what metrics will allow us to assess effectiveness?
-How will we collect the data to assess?
-Standards of conduct
-Disclosure requirements
-standards for posting corporate information
LARA framework
-listen to customer conversations
-analyze conversation
-relate information within enterprise systems
-act on customer conversations

conversation is a data point

old marketing philosophy
were doing customer a service because they don’t know what they want, so were telling them what they want
new marketing philosophy
We (marketers) never know what is right for the customer, but we want to find out so we can tailor something to them.
psychology of social media
What is we could understand the psychology of social media and use that knowledge to bring customers closer, give them more of what they want and create better relationships
social footprint
marketers can bring you more of what you want based on your likes… usually they can rule out what are obligation likes.
Braggadocian
we brag on SM to feel good about ourselves – this builds out social footprint and helps marketers
KPI
key performance indicator

you have to give yourself a measurement. for chick-fil-a this is service.

Branding
peoples perception of the company- can be slogan, image or anything

Have objective
advertising
marketing
identify
product

value proposition
what value the customer gets from buying your product

providing something people can’t get anywhere else

what makes them a returning customer

SMART
Specific
Measurable
Attainable
Reachable
Time line
Heuristic
a mental shortcut

when you have a question in your head and have an automatic response

Should i drive or take the bus: bus because there is construction