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Marketing Chapter 20 Textbook

Terms in this set (73)

Social media (companies refer to as consumer-generated media)
Online media where users submit comments, photos, and videos - often accompanied by a feedback process to identify "popular" topics

Most involve a genuine online conversation among people about a subject of mutual interest, one built on their personal thoughts and experiences, and others involve games and virtual worlds in which the online interaction includes playing a game
Social network
A single social media site with millions of users interacting with each other
Web 2.0, Web 3.0, and user-generated content
Social media is sometimes used interchangeably with these terms, concepts that are the foundation of today's social media
Web 2.0, Web 3.0
Both consist of technological functionalities that make possible today's high degree of interactivity among users

_______ includes functionalities that permit people to collaborate and share information online

________ includes additional functionalities that allow personalization and customization to each individual based on location, interests, and needs (integrates new features such as Cloud computing, big data, IoT, security solutions, and privacy protection)
User-generated content (consumer-generated)
The various forms of online media content that are publicly available and created by end users

Includes video, blogs, discussion forum posts, digital images, audio files, etc.
1. It is published either on a publicly accessible website or on a social media site
2. It shows a significant degree of original or creative effort
3. It is consumer-generated by an individual outside of a professional or commercial organization
To qualify as UGC, content must satisfy three basic criteria:
Media richness and self-disclosure
Classification of social media

Used to position a number of social media sites in 2D space
Media richness
This involves the degree of acoustic, visual, and personal contact between two communication partners - face-to-face communications being higher than e-mail

The higher this and quality of presentation is, the greater the social influence that communication partners have on each other's behavior
Self-disclosure
In any type of social interaction, individuals want to make a positive impression to achieve a favorable image with others. This favorable image is affected by the degree of ____________ about a person's thoughts, feelings, likes, and dislikes

The greater this is will increase one's influence on those reached
Comparing social and traditional media
Ability to reach both large and niche audiences, expense and access, training and number of people involved, time to delivery, permanence, credibility and social authority
Influencer marketing
The practice of focusing on the identification and recruitment of influencers to advocate a company's products, services, and brands rather than focusing exclusively on prospective buyers

Based on the concept of personal influence by views, opinions, or behavior of others

Involves partnering with individuals who are willing and able to effectively engage their followers with a product, service, or brand
Perceived credibility, knowledgeability, authenticity, and reliability in providing relevant content to his or her audience
Based on number of followers he has on social networking sites

In short, social media influencers are trusted by their followers
Social commerce
Involves the use of social media to browse and buy online without going to a company's website to conduct business

Use of social networks in the context of e-commerce transactions

Focuses on the seller and purchase transactions
Social shopping
The use of social network services and websites by consumers to share their latest purchases, deals, coupons, product reviews, want lists, and other shopping finds with friends and contacts

Individuals are influenced by peers' purchases and recommendations, which can greatly influence purchase decisions

Focuses on the user or buyer shopping experience
Facebook
A website where users may create a personal profile, add other users as friends, and exchange comments, photos, videos, and "likes" with them

First choice among people seeking to create and maintain online connections with others; has enhanced capabilities with purchases of IG, WhatsApp, and Oculus

Users can keep friends and family updated on what they are thinking, doing, and feeling; can join chats with friends or join common-interest groups

Businesses can create pages as a means of advertising and building relationships with others
Facebook in a brand manager's strategy
Helps brand managers generate awareness for their product, service, or brand within Facebook; if done well, these are magnets for feedback

Use paid ads and sponsored stories within FB advertising platform so the content can migrate into FB conversations among friends

Be creative - use links, photos, videos. Make it familiar, but with a twist. Keep it fresh. Learn users' passions and let them guide content.
Click-Gap metric
As part of its efforts to prevent misinformation, propaganda, hate speech, and fake news from being spread on FB platform, FB introduced this; compares the popularity of links that appear in FB posts with the rest of the Web. If there is a disparity, FB will limit the post's reach
New privacy protections
In response to increasing concern about privacy and use of personal data, FB has several new privacy protections
Ex. users are now asked to review how FB uses their data and are given the option to opt out of targeting based on personal profile information

Also limit ads that can be displayed to teens and offer rewards for reports of data abuses
Dating feature
Facebook introduced this new feature that will compete with dating apps such as Tinder and Bumble

The new service allows Facebook users to create separate profiles from their main FB accounts and also uses a dedicated inbox that allows only text-based messages when chatting for the first time
Custom Audience
Program where Facebook helps advertisers target customers as they scroll through FB's mobile app by matching email addresses provided by the advertisers with the email addresses it has for may of its users

Also identifies look alikes (people who are similar to an advertiser's customers for targeted ads)
Twitter
Enables users to send and receive tweets, messages up to 280 characters long
-based on principle of followers
-also offer live video feature by clicking on camera icon
-good form of communication for consumers and brands
Twitter in a brand manager's strategy
Brand managers cannot expect extensive comments on their brands, but they can use it to determine what users are saying about their brands and competing brands. They can respond to negative ones and promote positive ones.

Generate brand buzz; follow the twitter profiles; respond to user criticism; tweet on topics of interest to consumers
LinkedIn
A business-oriented website that lets users post their professional profiles to connect to a network of businesspeople (connections)

Main purpose is professional networking and job searching
LinkedIn in a Brand Manager's Strategy
Marketing managers can use this to promote their brand in subtle ways (done mainly for B2B image building and networking with other professionals

Make connections; find jobs and business opportunities; review profiles; enable advertisers to reach people

Added a Job Matching feature to help recruiters find better matches for open positions
YouTube
A video-sharing website, owned by Google, in which users can upload, view, and comment on videos

Uses streaming video technology to display user-generated content including movies and TV clips and music videos

Targeting is now based on previous Google searches, but was based on what people had watched previously
YouTube in a Brand Manager's Strategy
Incorporates a search engine, so users interested in a specific topic can find it easily; manager must pay cost of creating a video, but launching a channel is free

Guidelines for marketing and promoting a brand with YouTube:
-Exploit Visual Aspects of Your Message
-Create a Brand Channel with Key Words
-Use YouTube Analytics to Target Viewers
Social media marketing program
Portion of a company's integrated marketing communications effort designed to create and deliver online media content that attracts viewer attention and encourages readers to share it with their social network

Purpose: reach active consumers who will become influentials and be delighted with a brand and its message. These consumers will then become evangelists who will communicate with their online friends and the company about the joys of using a brand
Customer engagement
Degree and depth of brand-focused interactions a customer chooses to perform online with his or her social network
Customer engagement rate
Measures a brand's posted content interaction with its social media followers. Calculated relative to the number of followers a company or brand has on social media. The rate for both small and large companies and brands can be compared equally
Twitter CER
(likes + replies + retweets) / total impressions * 100
Facebooke CER
(likes + comments + shares) / total followers * 100
Instagram CER
(likes + comments) / total followers * 100
Selecting social media
Assessing -
characteristics of website's visitors
number of users or unique visitors to the website
Audience data available for social media
Both marketing research organizations and the social media themselves provide user profile data for the social media to help brand managers choose among them

Research shows that there is substantial overlap between users of the major social media

Helps refine promotional efforts and reduce redundancy
Number of users
Measure of size of audience
Market share
Indication of the use of the website relative to the other sites
Social media content
Information and experience that are directed toward an end user or audience; social media marketing experts typically identify seven types used by companies to create and sustain customer engagement
Educational content
Includes infographics, FAQs, tips and tricks, and how-to posts
Inspirational content
The content includes quotes, amazing facts or trivia, personal stories of triumph, and inspirational images
Interactive content
The content includes quizzes and games, polls, virtual reality, and contests
Connecting content
This content includes stories, behind-the-scenes images, and posts that thank fans and ask for opinions and feedback
Promotional content
This content includes promotions, coupons, discounts, customer testimonials, and webinars
Newsworthy content
The content includes the latest developments regarding a brand and topical coverage about an industry, product, or service
Entertaining content
This content includes puzzles, viral videos, jokes, and comics
Hashtag
Companies commonly use this to showcase product, brand, and service social media content to create customer awareness and engagement and user-generated content as part of an integrated marketing communications program

Originated on Twitter but are used in other social media as well with increasing frequency
Creative Development, Execution, and Delivery of Social Media Content
The quality of social media content is based largely on this
Cost per thousand (CPM)
The media cost of exposing 1,000 readers or viewers to an advertising impression.

Measures ties to the number of times the ad loads and a user might see it, but it does not indicate whether the user has actually reacted to it
Cost per click (CPC)
The amount the firm pays each time a customer clicks on an ad.

Gives the rate the advertiser pays, say to FB, every time a visitor clicks on the ad and jumps from that page to the advertiser's website
Cost per action (CPA)
A method of charging for advertising whenever a user performs a specified action such as signing up for a service, requesting material, or making a purchase.

Ties loosely to actual sales (like paying $5 for every purchase that originates from an ad, say on the FB site
Performance measures linked to inputs or costs
Cost per thousand (CPM)
Cost per click (CPC)
Cost per action (CPA)
Performance measures linked to outputs or revenues
users/members, fans, share of voice, page views, visitors, unique visitors, average page views per visitor, interaction rate, click-through rate, fan source
Users/members
Individuals who have registered on a social networking site by completing the process involved, such as providing their name, user ID (usually an e-mail address), and password, as well as answering a few questions (date of birth, gender, etc.).
Fans
The number of people who have opted in to a brand's messages through a social media platform at a given time
Share of voice
The brand's share or percentage of all the online social media chatter related to, say, its product category or a topic.
Page views
The number of times a Facebook Page is loaded in a given time period.
Visitors
The total number of visitors to a Facebook Page in a given time period; if someone visits three times in one day, she is counted three times.
Unique visitors
The total number of unique visitors to a Facebook Page in a given time period; if someone visits three times in one day, he is counted only once.
Average page views per visitor
Page views divided by visitors in a given time period
Interaction rate
The number of people who interact with a post divided by the total number of people seeing the post
Click-through rate (CTR)
Percentage of recipients who have clicked on a link on the page to visit a specific site
Fan source
Where a social network following comes from—with fans coming from a friend being more valuable than those coming from an ad.
Specialized focus for other social media
One of the advantages of social media is that communities can form around ideas and commonalities, regardless of the physical location of their members
Ex. Pinterest, a virtual pinboard and content-sharing social network, allows people to pin or share images of their favorite things. Members create customized, themed boards and categorize their images
Carmex
Textbook example of matching social media content and social media influencers. Its social media content was inspirational, promotional, interactive, connecting, and entertaining. The partnership with LeBron James was ideal
Smart system
Technology and data based network that triggers actions by sensing changes in the real or digital world
Social commerce technologies
Social media and digital technologies are converging to change the way companies engage consumers and the way consumers communicate, shop, and pay for products and services
Databases and Algorithms
Finding prospective customers often involves market segmentation that requires __________ searched with _________-, models used to query, organize, manipulate, and present data

Must be made useful as possible to potential advertisers in order to succeed
Apps
Small, downloadable software programs that can run on smartphones and tablet devices
Today's successful video games
Build on a huge personal-rewards psychology for players; can be played on the small smartphone screens; top the most-downloaded charts, and often use a freemium strategy, where the download is free but users pay for extra features
Mobile marketing
Broad set of interactive messaging options that are used to communicate through personal mobile devices

Has a unique ability to empower users by connecting with them individually and continuously, learning about their likes and personal characteristics and sharing this information with online friends and marketers selling products
Price-comparison searches
Scan product bar codes or QR codes and research 500,000 stores, synchronizing searches between your computer, car, and smartphone
Location-based promotions
Use your GPS-enabled smartphone for location check-ins to receive discounts at stores such as JCPenney.
Loyalty programs
Win loyalty points for walking into stores like Target or Macy's and receive discounts from them.
Privacy
Continues to be a topic of discussion and regulation around the globe when it is in regards to data
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