130 terms

Social Media Marketing Final

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Affinity
Sometimes called "liking", means that people tend to follow and emulate those people whom they find attractive or otherwise desirable
Authority
persuades with the opinion or recommendation of an expert in the field
Bounded Rationality
captures the quandary we face as humans when we have choices to make but are limited by our own cognitive capacity
Cognitive Bias
refers to the "short cuts" our brains take when we process information; influence what we pay attention to and how we interpret it
Heuristic
describes "rules of thumb" such as "buy the familiar brand name" and "if it's more expensive it must be better"
Ratings
scores that people, acting in the role of critics, assign to something as an indicator; may reflect perceived quality, satisfaction with the purchase, popularity, etc.
Recommendations & Referrals
Personalized product endorsements; originate from the person's social graph; more influential than reviews/ratings
Popularity Filter
filters that enable the shopper to show products by most popular, most viewed, most favorite, or most commented
Principle of least interest
the person who is least committed to staying in a relationship has the most power because that party doesn't care as much if the other person rejects him or her
Problem recognition, Information search, Evaluation of alternatives, Purchase, Post-Purchase
5 Purchase Decision Stages
Problem recognition
Social commerce tools: social ads on social networking sites; shared endorsements from friends posted in activity streams; preprogrammed reminders; location-based promos; social games
Information search
Social commerce tools: comments, rating/reviews; wish lists; gift registries
Evaluation of Alternatives
Social commerce tools: bar code scanning/price comparisons; recommendations, testimonials, popularity filters
Purchase
Social commerce tools: shop within network options, social stores and social shopping malls, micropayment, social gift cards, e-couponing
Post-Purchase
Social commerce tools: share posts in activity streams, rating/reviews, comments
Reviews
assessments with detailed comments about the object in question; explain and justify the critic's assigned rating and provide added content to those viewing the content
Rule of Reciprocity
Says that we have an embedded urge to repay debts and favors, whether or not we requested the help; common norm of behavior across cultures, reciprocated kindness in part because we feel it is the fair/right thing to do
Principle of Scarcity
we tend to instinctively want things more if we think we can't have them; we increase our efforts to acquire it
Satisfice
we expend just enough effort to make a decision that's acceptable but not necessarily the one that's "best"
Shop Together
an application that allows shoppers to log in to an e-commerce site and then interact and collaborate throughout the e-commerce site; includes the ability to see purchase pals' movement throughout the site, discussion and sharing
Social Media Storefront
applications that enable businesses to conduct transactions with customers from within social network sits; these work with applications like Payment to complete transactions within the social networking site
Social Proof
we arrive at many decisions by observing what those around us do in similar situations; the choice is the right one when it's a popular choice (#1 Choice, Market Leader)
Thinslicing
the process of using heuristics to simplify the decision-making process; where we peel off just enough information to make a choice; we ignore most of the available information; "slice off" a few salient cues an duse a rule of thumb to make intuitive decisions
User forum
group of people who meet online to communicate about products and help each other solve related problems
User gallery
a virtual gallery where users can share their creations, shopping lists, and wish lists, these exist outside of social commerce buy may include galleries that feature products for sale
Verification
gathering information online prior to making a purchase; using ratings and reviews as a form of validation just prior to purchase
Census
A study of the whole population rather than a subset
Codes
labels that classify and assign meanings to pieces of information, analysts can use the comments to determine any themes that are reflected in the comments
Coverage error
occurs when there is a failure to cover all components of a population being studied
Netnography Research
a rapidly growing research methodology that adapts ethnographic research techniques to study the communities that emerge through computer-mediated communications; uses information bailable through online forums to study the attitudes and behaviors of the market involved
Ethnography Research
studying how "real" consumers use products, conducting field research by visiting homes and offices to observe them as the go about their everyday lives
Fetching or Web Scraping
using the word-phrase dictionary, the crawlers select only the content that appears to be relevant based on matches with the dictionary
Informed Consent
when researchers conduct research with human subjects who are made aware of the research and its benefits and implications and they are given the opportunity to withdraw or move forward
Nonresponse Bias
"the potential that those units that were not included in the final sample are significantly different from those that were" Sometimes, in survey sampling, individuals chosen for the sample are unwilling or unable to participate in the survey; the bias that results when respondents differ in meaningful ways from nonrespondents.
Observational research
involves recording behavior or the residual evidence of behavior (watching people shopping); utilizes small samples and suffers from a high risk of subjective bias
Online echo
refers to the duplication in conversation volume that tends to occur in social media spaces; exists because people who share content online tend to share it in more than one community and people in the saver's network may then also share the same content (retweeting)
Population
specify the units of interest, likely the people or families to which we wish to generalize the study results
Primary Research
collected for the research purposes at hand, conducted via exploratory, qualitative methods such as observation, focus groups and in-depth interviews
Research Design
specifies a plan to collect and utilize data so that desired information can be obtained with sufficient precision and/or so that hypotheses can be tested properly; includes decisions on the study approach (exploratory, descriptive, or experimental), the sampling plan, procedures for data collection and date analysis decisions
Sample frame
an available list that approximates the population and from which we draw a sample to represent the population
Sampling
refers to the process a researcher uses to select specific cases from a sampling frame for inclusion in a study; almost always used in research because it's usually financially/logistically impossible to use a census
Sampling Error
the result of collecting data from only a subset, rather than all of the members of the sampling frame; it heightens the chance that the results are wrong
Sampling Weight
adjustment factors applied to adjust for differences in probability of selection between cases in a sample
Secondary research
information already collected and available for use
Sentiment
refers to how people think or feel about an object such as a brand; heavier on emotion than reason but captures an opinion about something
Sentiment Analysis
collecting and analyzing sentiment data; analyzing product reviews to obtain insight into the mix of features people want and the product's strengths and weaknesses; aka opinion mining
Four Steps of Sentiment Analysis
Step 1: Fetch, crawl, and cleanse (web crawlers use a word-phrase dictionary to fetch/scrap data)

Step 2: Extract entities of interest (from filters data, relevant posts are extracted)

Step 3: Extract sentiment (use sentiment indicators to indicate positive/negative sentiment)

Step 4: Aggregate raw sentiment date into a summary
Spam
increasingly common in social communities and signature lines but it does not represent real conversations we should include in a data set, can create sampling error
Verbatim
the actual comments people post in English or other languages
Viral Spread
the speed and intensity of a message across the online population
Web Crawlers
simple applications that move through the designated websites and collect/store the content they find
Activity metrics
measure the actions the organization takes relative to social media
Advertising equivalency value (AEV)
a metric used in the Return on Earned Media Model to equate publicity in news media outlets to its paid advertising equivalent
Blog Value Index (BVI)
a simple equation that enable a company to assess whether the blog adds more value than it costs; If BVI is less than 1 the blog costs money; If greater than 1 the blog yields a profit
Coincident tracking
begins during the activity or campaign; can be effective in that it relies on residual date left at the point of interaction or point of sale
Content consumption metric
Who is interacting with and consuming the brand-generated and consumer-generated content? is it who you want to consume your content?
Content conversation metric
Who is discing the brand? Who is linking to brand websites? What is the comment-to-post ratio?
Content engagement metric
Is the number of friends to brand profiles growing? Are people contributing content like comments and photos?
DATA approach
Define the results that program is designed to promote
Assess the costs of the program and the potential value of the results
Track the actual results and link those results to the program
Adjust the program based on results to optimize future outcomes
Interaction metrics
focus on how the target market engages with the social media platform and activities; include the number of followers and fans, comments, likes, recommendations and reviews, and the amount of shared content
Key Performance Indicator
the metrics tied to organizational objective
Return metrics
focus on the outcomes that directly or indirectly support the success of the brand; include ROI measures ,cost reduction measures, etc.
Return of impressions model
demonstrates how many media impressions were generated by the social media tactics employed
Return on earned media model
uses a metric called advertising equivalency value to equate publicity in news media outlets to its paid advertising equivalent
Return on Investment (ROI)
a common metric to gauge success; a measure of profitability; captures how effective a company is at using capital to generate profits; "how much income was generated from investments in the activities?"
Social Media Return on Investment
"How much income did our investments in social media marketing generate?"
Severals ways to calculate: return on impressions model, return on social media impact model, return on target influence model, return on earned media model
Return on target influence model
relies upon survey data to assess the effectiveness of social media marketing; surveys assess whether participants were exposed to the social media tactics and what perceptions they formed as a result of exposure; calculates the change in the probability of purchase based on the exposure
Reverse Tracking
conducted after an activity or campaign has concluded; uses residual data and may include primary data collection such as surveys to assess the effects of the campaign
Sales Conversion
the number of people who click through who go on to purchase the product
Word of Mouth Marketing Association
the official non-profit trade association dedicated to the word of mouth and social media marketing industry
Viewthroughs
the number of people who are exposed and do not click through, but who later visit the brand's website
"If it's more expensive it must be better" is an example of ________.
heuristic
Shopping is not really considered a social activity at its heart.
false
Today, most consumers who conduct research online during the decision process do NOT shop online.
false
A popularity filter is a social commerce application that:
enables the shopper to show products by most viewed, most favorite, or most commented.
A user gallery is a social commerce application that:
enables one to share creations, shopping lists, and wishlists.
Shopping can be a utilitarian activity.
true
Examples of social commerce include all of the following EXCEPT:
consumer solicited media and microblogs.
Social experiences when shopping are categorized as utilitarian in motive.
false
________ are scores that people, acting in the role of critics, assign to something as an indicator.
Ratings
People who write reviews tend to shop less frequently and to spend less online than those who do not write reviews.
False
All of the following social shopping tools use the influence tactic of scarcity EXCEPT:
"Ask your network."
Reciprocity is NOT a norm of behavior in every culture.
False
We act under the influence of ________ when we choose a product due to the opinion or recommendation of an expert in the field.
authority
All of the following social shopping tools use the influence tactic of authority EXCEPT:
geo-location programs
When a retailer sends you a birthday card out of the blue, the company is employing the influence tactic of ________.
scarcity
The principle of least interest states that the person who is least committed to staying in a relationship has the lesser amount of power.
false
When a web site posts a picture of an attractive employee to influence consumers, it is employing the influence tactic of ________.
affinity
"Buy now while supplies last!" is an example of using the influence tactic of ________.
scarcity
To thinslice means to:
ignore most of the available information and instead notice a few salient cues to make a choice.
Consumers low in susceptibility to interpersonal influence tend to be older, affluent, and to have high self-confidence.
True
________ in a content analysis are labels that classify and assign meanings to pieces of information.
Codes
Most word-of-mouth conversations about brands are conducted online.
False
Step 4 in sentiment analysis is to:
aggregate raw sentiment data into a summary.
Sentiment analysis of blogs tends to be more accurate than that of tweets.
False
________ includes decisions on the study approach, the sampling plan to be used and procedures for data collection, and data analysis decisions.
The research design
________ represents a gap between the sampling frame we use and the population we define.
Coverage error
Observational research suffers from a high risk of subjective bias.
True
Sentiment does capture an opinion about something.
True
For social media marketing researchers, public content posted in social channels can be a detriment in that it may not reflect the whole truth.
True
In sentiment analysis research, researchers use ________ to code the data for emotions.
a word-phrase dictionary
If the Republican Party scrapes data from various social media websites in order to determine the attitudes of users toward their presidential candidates, they are employing ________.
sentiment analysis
If a company purchases background information to aid the decision process in a particular market then, as defined in this question, this information is:
secondary research
Sentiment analysis is a form of ________.
text mining
________ involves recording behavior or the residual evidence of behavior.
observational research
Firefly MB, a global qualitative research company, conducted a global study of consumer views of social media and social media marketing. They found that the community setting led to a feeling of trust and camaraderie during the group research sessions.
True
Which of the following is the primary unit of analysis for content analysis?
the word
A social media research study sets out to determine the attitudes and characteristics of Sony Playstation gamers, so the researchers select the members of the gaming sites of GamesForum and Gaming Bay to define Sony Playstation gamers. In this example, the two listed gaming sites represent the study's ________.
viral spread
Counting the number and type of candy wrappers people throw out after a party to see what they're eating is a form of:
observational research
A social media research study sets out to determine the attitudes and characteristics of Sony Playstation gamers, so the researchers select the gaming sites of GamesForum and Gaming Bay to define Sony Playstation gamers. In this example, Sony Playstation gamers represent the study's ________.
population
Sales conversion is defined as:
the number of people who click through who go on to purchase the product.
________ can include lagged measurements that control for time order of events taking place online.
The return on social media impact model
The cost to reach people in the target audience is an example of a return metric.
true
The third step in the DATA approach is:
track the actual results and link those results to the program.
The second step in the DATA approach is:
assess the costs of the program and the potential value of the results.
________ measure focus on the outcomes that directly or indirectly support the success of the brand.
Return metrics
If the cost of a display ad on Facebook is $50,000 but it cost $5,000 in time for its development and maintenance, the incremental gain is $45,000. The gain divided by the cost of the program expressed as a percentage reveals a ROI of 900 percent. This example relates to:
return on earned media model
Objectives must be ________ before we can identify key performance indicators.
well-defined
Relative pull is defined as:
a comparison of how well different creative executions generate a response.
The fourth step in the DATA approach is:
adjust the program based on results to optimize future outcomes.
________ tracking means that the tracking mechanisms are developed prior to launching the activity or campaign.
Forward
________ tracking is conducted after an activity or campaign has concluded.
Reverse
The return on earned media model requires the statistical technique of advanced multiple regression analysis to analyze variables that may affect sales.
False
Which of the following is an example of a question answered by a content conversation metric?
What is the comment-to-post ratio?
Counting the number of pieces of content uploaded to a microsite after the fact is an example of ________ tracking.
reverse
Which one of the following questions represents the cost of message control?
Should a company set their Facebook walls to "Brand only" posts so that contributions from others are hidden to visitors?
The value of speed of response by a company in social media is difficult to quantify. However, we know it is valuable.
True
When it comes to social media marketing, measurement isn't optional.
False
Which one of the following questions represents the concept of opportunity cost?
What's the time value of the person tasked with creating content for the corporate blog?
SMROI answers the question:
How much income did our investments in social media marketing generate?
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