Chapter 14 Social Media and e-Business

social media

the online interactions that allow people and businesses to communicate and share ideas, personal information, and information about products and services

hashtag

a word or a short phrase, preceded by the pound sign (#), to identify different topics

social content sites

websites which allow companies to create and share information about their products and services

blog

a website that allows a company to share information to increase the customer's knowledge about its products and services, and to build trust

media sharing sites

websites which allow users to upload photos, videos, and podcasts

influencer

a person known on social media who has an influence over a large number of followers

podcasts

digital audio or video files that people listen to or watch online on tablets, computers, smartphones, or other mobile devices

social media communities

groups of people who share common interests and who want to use technology and the internet to connect with people with similar interests

forum

an interactive version of a community bulletin board that focuses on threaded discussions

wiki

a collaborative online working space that enables members to contribute content that can be shared with other people

social media community manager

a high-level executive who is responsible for all of a company's social media activities

social media marketing

the utilization of software, computer technology, and the internet to provide information about a firm's products and services, increase sales revenues, and improve customer service

inbound marketing

a marketing term that describes new ways of gaining attention, and ultimately customers, by creating content on a website that pulls customers in

crowdsourcing

outsourcing tasks to a group of people in order to tap into the ideas of the crowd

crowdfunding

a method of raising money to fund a project for a business, a nonprofit organization, or an individual

quantitative social media measurement

using numerical measurements, such as counting the number of website visitors, number of fans and followers, number of leads generated, and the number of new customers

key performance indicators (KPIs)

measurements that define and measure the progress of an organization toward achieving its objectives

qualitative social media measurement

the process of accessing the opinions and beliefs about a brand

sentiment analysis

a measurement that uses technology to detect the mood, attitudes, or emotions of people who experience a social media activity

e-business (or electronic business)

the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs through the facilities available on the internet

e-commerce

a part of e-business and usually refers only to buying and selling activities conducted online

mobile marketing

communicating with and selling to customers through mobile devices

outsourcing

the process of finding outside vendors and suppliers that provide professional help, parts, or materials at a lower cost

revenue stream

a source of revenue flowing into a firm

business model

a model that represents a group of common characteristics and methods of doing business to generate sales revenues and reduce expenses

business-to-business (or B2B) model

a model used by firms that conduct business with other businesses

business-to-consumer (or B2C) model

a model used by firms that focus on conducting business with individual consumers

cookie

a small piece of software sent by a website that tracks an individual's internet use

data mining

the practice of searching through data records looking for useful information

malware

software designed to infiltrate a computer system without the user's consent

cloud computing

a type of computer usage in which services stored on the internet are provided to users on a temporary basis

green IT

a term used to describe all of a firm's activities to support a healthy environment and sustain the planet