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MKTING 9 (Social media (Compare w traditional media
Reach
both offer…
MKTING 9
Online advertising
Benefits
Individualization*
- customisation ; user has control
- marketer ; target ads & promos that are relevant
Interactivity*
- good for user ; reciprocate, can be anytime anywhere, can communicate w marketer when they want to
- marketer ; build relationship
Cost efficiency
Immediate publishingCosts
User distraction
Too many choices
International coordination
Rapid change
Short lead times
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Rich media
Pop-ups - ads appear in separate window
Interstitials - ads appear betwn 2 content webpage
Superstitials - short, animated ads
Online video ads
Websites
adv: sought by consumer vs stumbled uponUses
- ad for company
- venue for generating & transacting exchanges btwn org and cust
- link to other integrated marcom
Well-designed
- easy to navigate
- provide useful info
- visually attractive
- offer entertainment value
- trustworthy
Demand-side platform
- brands & agencies buy inventory across pub sites on ad exchanges, brand manager create demand
Supply-side platform
- publishers who want to sell, automated auctions, set price floors & rules thru ad exchange
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Social media
Compare w traditional media
Reach
- both offer scale, T more centralized, S decentralized
Usability
- T requires specialized skills & training
- S anyone can access and generate content
Immediacy
- T often have long time lags
- S can generate quickly
Permanence
- T cannot alter once created
- S can made changes
Adv:
- flexibility
- reach
- consumer engagement
- cost effectiveness
- improved metrics
- integration
- 2 way dialogue
Disadv:
- privacy & censorship
- lost productivity, addiction, fatigue
- meaningless comments
- negative comments
- hackers, frauds
Successful campaign common objectives
- share humor & creativity
- deals & contests
- sponsorships, events, causes
- interactive games, virtual worlds
- consumer generated storeis & content
- web based & mobile tech used to turn comm into interactive dialogue
- integrate tech & social interactions to create user value
- help solve consumer problems by establishing comm
- encourages brand storytelling
- step into the real world (connect & engage w cust thru empathy, openness, understanding)
- evolve w cust in being social & human (admit mistakes, accept criticism)
Concerns
Privacy
- general privacy principles
- notice, consent
- access, security
Other concerns
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Direct marketing
- interactive system which uses 1 or more advertising media to effect a measurable response and/or transaction at any location
Direct response advertising
- involves the use of any several media (eg. tv, magazines, web) to transmit msgs to encourage buyers to purchase directly from advertiser
Features
- makes definite offer
- contains all necessary info to make decision
- includes response device to facilitate action (eg. website, coupon)
Caples' Principles for effective DRA
- get attention
- hold attention
- create desire
- make it believable
- prove it's a bargain
- make it easy to buy now
- give reasons to buy now
Direct Mail
Features
- Targetability (RFM ; recency, frequency, monetary value)
- Measurability
- Accountability
- Flexibility
- Efficiency
Database marketing
- up2date computer database to help DM
- a process which companies collect info on cust, analyse it to predict who will buy, develop tailored mkting msgs to those cust
Database mining
- computerized process of discovering hidden facts contained in firm database (eg. reveal rs among cust buying behaviour variables)
Lifetime value analysis
Customer lifetime value
- net present value (NPV) of profit that company stands to realize on avg new cust during given no. of years
- related to retention, cheaper than acquisition
Augment LTV
- increase retention rate
- increase referral rate
- enhance avg purchase vol per cust
- cut direct costs
- reduce mkting comm costs
Mailing lists
House lists (internal, RFM)
House lists of other companies (ext, mail reponse list)
Compiled list (Ext)
Recency - send to ppl who made purchase within last 6 mths
Freq - send to ppl who purchase it at least 3x
Monetary value - send to ppl who spent at least $300 within past year
RFM useful in data mining, companies can divide cust into quartiles for each category & test DM efforts
Telemarketing
Outbound, InboundBrand placement
- for fee or other consideration
- value (onscreen time, foreground/background position, using the brand)
Video game advertising (advergaming)
Cinema ad & web films
Post-it notes
Stadium cup holders