Marketing Chapter 3 Social Media
Social Media is cost-effective, Easy to communicate, Instant Feedback from 1st hand customers, and is here to stay.
*to POWERFUL to ignore because it gets you attention to your products and produces massive amount of traffic*
*Blogs, Facebook, Twitter, Pintrest, Websites, Linkedin*
-Sales, The arrival of new products
Consumers can connect with their favorite retailers online.
-consumer reviews are the #1 aid to buying decisions.
*Marketing, Communication, Branding, Sales, Customer Service*
*Excite, Educate, Experience, Engage”
*Educate the Customer*- Educating is reminding people what they already know about the product, the benefits, and the value of your offer.
*Experience the product*- how they work, how to use them, and where they can be obtained before they buy it.
*Engage the Customer*- Interact with the customer feedback, it can be positive or negative. Always try to save the customer.
*Social Networks, Media Sharing Sites (Youtube), Thought Sharing Sites (Blogs)*
*Create public relations, provide great customer service, build Loyalty, Collaborate with feedback, network with consumers* To become a revenue hub.
Requires more investment( Cost / Staff), Employees will abuse, Don’t have time or resources.Corporate liability & Legal Liabilities, Network security.*
*Action & Insight*: Sales inquiries, New business, Customer satisfaction, and loyalty
*Engagement& Influence* Action & Insight, Sales inquiries, New business, Customer satisfaction, and loyalty
BRAND AFFINITY- Consumer makes an emotional connection with a brand.
* Loyalty means the customer trusts the product, and affinity is when their is an emotional connection involved.*
Quantitative: Hard data (actual performance vs objectives) *Examples Sales, ranking, analytics, blog traffic, subscriber count*
*Innovation, Brand Health, marketing Optimization, Revenue Generation, Operational Efficiency, Customer Experience*
Marketing Optimization- Improve the effectiveness of marketing campaigns
Revenue Generation- Where&how your company generates revenue.
Operational Savings- Where&how your company can reduce expense
Customer Experience- Direct correlation between social media and customer experience.
Innovation- Collaborating with customers for improvements & new ideas.
*Listen to customers, analyze, Do*
) to give you insight on what customers think.
Analyze- Amount of trafficking visiting sites,
who are the visitors (Conversion Rate= % of visitors that buy), and what key words are used.
Do- act on what you have learned from your customers
*Goals, Target audience, Experiment and engage, Budget, Monitor and change*
2) *Target Audience*: Find big enough audience
3) *Experiment and Engage*: A call to attention that is clear & compelling (Image).
4) *Budget*: Have enough funding to keep it available for a period of time.
5) *Monitor and Change*: Review success of campaign and adjust accordingly.
4 E’s (31-32)
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