MKTG 2080 Chapter 3 McGraw Hill Connect

social listening

- how firms monitor and track what people are saying about them on social media

- ex. @'s

digital marketing

pertains to all online marketing activities, which includes all digital assets, channels, and media, spanning not just online but also social media and mobile marketing

what arethe 4E's?

- excite

- educate

- experience

- engage

excite the customer

marketers may use mobile apps and games to achieve this

educate the customer

golden opportunity: product's value proposition and offered benefits

experience the product or service

- try before you buy

- has expanded the market significantly

engage the customer

action, relationship, loyalty, and commitment

ex. IKEA place app

what are the 7 C's of an online marketing framework?

- core goals

- contextual elements

- content

- community

- communication

- commerce

- connection

core goals

the primary goal of any website is to engage its users by encouraging them to spend time viewing and interacting with its content

contextual elements

design (eg. color, font), navigation, and alignment must be with the target market

content

- the info on the site (text, graphic, video, audio)

- critical to being successful with the 4 E's of digital marketing

keywords

a phrase that describes the contents of a web page

organic search

the process of listing web page results based on the relevancy of key terms

search engine marketing (SEM)

an activity used in online searches to increase the visibility of a firm by using paid searches to appear higher up in search results

paid search

firms pay to appear higher up in the search results, and also often pay an additional fee every time a user clicks on their entry

community

thought-sharing sites are particularly effective for creating a sense of this

blogs/micro blogs

- allow people to share their thoughts, opinions, and feelings with the entire world

- ex. Twitter

personal blogs

created by and usually for individuals, with relatively few marketing implications

corporate blogs

created by the companies themselves are central to their digital marketing efforts

Corporate blogs can...

- educate

- create excitement

- be engaging

- simulate the experience

professional blogs

- written by people with some particular expertise, who review and give recommendations on products and services

- marketer -> less control

crowd sourcing

users submit ideas for a new product or service, and/or comment and vote on the ideas submitted by others

communication

used to determine how effectively the firm can interact with, educate, and engage sit visitors

commerce

benefits include:

desktop usage is greater, and conversion rates are higher, for online purchases

connection

engagement leads to this

what are the call-to-action buttons?

- buy now

- learn more

- show your support

what is the purpose of call-to-action buttons?

encourage visitors to delve deeper into a website, to explore other pages and spend more time on the website

what is the wheel of social media engagement?

- information

- connected

- network

- dynamic

- timeliness

the information effect

the outcome of social media in which relevant information is spread by firms or individuals to other members of its social network

what is the key to turning the wheel?

the information effect

the connected effect

- an outcome of social media that satisfies humans' innate need to connect with other people

- bidirectional

the network effect

the outcome of social media engagement in which every time a firm or person posts information, it is transferred to the poster's vast connections across social media, causing the information to spread instantaneously

the dynamic effect

- describes the way in which information is exchanged to network participants through back-and-forth communications in an active and effective manner

- expands the impact of the network effect by examining how people flow in and out of networked communities as their interests change.

the timeliness effect

concerned with the firm being able to engage with the customer at the right place/time - their ability to do so 24/7 from any location

for the timeliness effect to be effective, firms must...

respond quickly or the benefit diminished

what percent of consumers expect a response to social media complaints within 24 hours?

80

what percent of consumers will not buy from companies in the future if there is no response?

50

what does the wheel of social media engagement show?

the power of the internet, mobility, and computing, and analytics that harness the power of social connection all have led to a leapfrog advance in the potential to creat meaningful engagement with customers

in the U.S., almost ____ million users made at least one purchase from their mobile phone in 2020

168

more than ____ billion apps were downloaded globally in 2019

200

customers spent ____ billion on mobile apps in 2019

120

what percent of revenue generated from apps in made from "free" apps?

98

what are the 7 primary needs that apps meet?

the need to:

- find "me time"

- socialize

- shop

- accomplish

- prepare

- discover

- self-Express

need for "me time"

- most popular

- all about entertainment and relaxation

need to socialize

- specialized entrants are growing to meet this

- ex. China WeChat app

need to accomplish

- people seek to manage their finances

- improve their health

- become more productive

need to prepare

- calendar apps

- flight tracking apps

- trip planning apps

need to discover

- seek info

- turn to weather and news apps

need to express

- people have diverse interests and tastes

what are the four basic ways of generating revenue from apps:

- ad-supported apps

- freemium apps

- paid apps

- paid apps with in-app purchases

ad-supported apps

free to download, but ads appear on the screen

freemium apps

free to download but include in app purchases

paid apps

charge the customer an up-front price to download the app, but offer full functionality once downloaded

paid apps with in-app purchases

require the consumer to pay initially to download the app and then offer the ability to buy additional functionality

how do firms engage their customers?

1. listen

2. analyze

3. do

sentiment analysis

marketers can analyze the content found on sites like Facebook, Twitter, and online blogs and reviews to assess the favorableness or unfavorableness of the sentiments

what are the three main categories in analyze?

1. determine the amount of traffic using their sites, visiting their blogs, or tweeting about them

2. critical to learn who those visitors are, what they are doing, and what engages and excites them

3. some companies want to analyze data that comes from other sites, such as measuring where people have come from to get to the companies site

hits

total requests for a page

page views

the number of times an internet page gets viewed by any visitor

bounce rate

the percentage of times a visitor leaves the website almost immediately, such as after viewing only one page

click paths

shows how users proceed through the information

conversion rate

a measure that indicates what percentage of visitors or potential customers click, buy, or donate at the site

benefits of Google Analytics

- offers a sophisticated, in-depth form of analysis for free

- determine which outlets have been successful

- provide clues to direct future marketing efforts

- determine physical location of its visitors

- analyze user demographics and interest date

- highly customizable

social media may be all about relationships but ultimately, firms need to use their ________ to increase their business

connections

what are the steps to a digital marketing campaign?

1. identify strategy and goals

2. identify target audience

3. develop budget (key)

4. develop the campaign: experiment and engage

5. moniter and change

influencer marketing

a marketing strategy that uses opinion leaders, popular on social media, to drive marketing messages to a targeted audience

the amount of leverage an influencer has can be measured using...

- the number of followers who voluntarily agree to receive messages from them

- the amount of money the can demand for a sponsored post

what are the 4 R's in influencer marketing?

- relevance

- reach

- response

- return

relevance

encompasses both the focal influencer and her or his followers (target audience) and how they link with the brand and its message

reach

depends on the number of followers, the level of activity by influencer, and the degree of engagement between followers and inluencer as well with others

response

the brand needs to go further and respond in a way that benefits it

return

while financial returns can be measured using different tech, return on investment (ROI) can be used

the ROI of an influencer marketing campaign =

therevenue earned from it, less the costs of paying the influencer, divided by those costs

types of influencers

- not all the same

- can be classified according to role and expertise

ethical considerations

is it advertising or sincere?

ex. fraud committed by influencers seeking to falsely represent their reach and relevance

fradulent influencer

the incentive to boost follower numbers accordingly has led to various unethical behaviors

- bots are used, not actual consumers

disclosing advertising intent

- info should be clear in the post

- transparency about motives

- required #ad

- repeatedly mention that the endorsement is paid

sincerity

- effective influence attempts require followers to believe that the influencer actually likes and appreciates the product

what is the key to sincerity?

to ensure that the influencer actually uses the promoted offering and shares an honest, sincere evaluation of it