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Chapter 3: Social Media Marketing - Coggle Diagram
Chapter 3: Social Media Marketing
Social Media
online & mobile technologies that distribute content to facilitate interpersonal interaction
forces company to change the way they communicate with customers
consumers are better informed
more communications empowered
interact with other consumers to exchange brand-related information
congregate and socialise to exchange views
is
an integral component
developing more focused marketing programmes
build closer relationship with target customers
able to create, inspire and share brand messages and conversations across all media channels
moving away from mass market
follows
4E Framework
consists of
Excite The Customers
offer must be relevant to target customers
provide personalised offers
information obtained from customer relationship management and/or loyalty programme
determined through insights
actively use social networks to communicate deals that are likely to excite customers
Educate the Customers
marketing offers have a clear call-to-action to draw customers
educate potential customers about its value proposition
remind people about what they already know
communicate offered benefits
social media tools include blogs, blogging tools
Experience The Product/Service
provide information about a firm's goods and services
How does the product/service work?
How do you use them?
Where can I get these products/services?
IG TV and IG Story come close to simulating real experiences
allows users to assess a product before buying them online
eg. consumer can download first chapter of a book
eg. trying out a free trail of a software before buying it
News Article 1: Using Augmented Reality to Improve Experience
Improve Promotion with "Branded " filters (Griffin, 2020)
Trying products before purchase
Increase Impulse buys from online promotion (Griffin, 2020)
Boost customer engagement with immersive experiences (Griffin, 2020)
Engage The Customers
encourage use of social media tools
customers actively engage with firm's products, service and own social networks
leads to action, potential for relationship, and loyalty and commitment
positively engage consumers are usually more profitable
purchase 20% to 40% more than less engaged customers
eg. "buyable" button on Pinterest, IG and Facebook
using
Digital Marketing Tools
such as
mobile apps
online videos
email
blogs
social media
websites
Dominance of Traditional Marketing Declining
due to increasing cost and shrinking audiences
at most basic level, marketers set up company's brand websites
provide information
promote company's products
blend new digital approaches with traditional marketing
Advantages
Brand Recognition & Awareness
Organic Audience Growth
Customer Insights
Improve Brand Loyalty
Reach Wider and More Diverse Communities
Opportunities for CSR Efforts
Reaching New Groups of the Target Audience
Driving Leads with Content Marketing
Contributes to better SEO
allows
Build networks
thus
Sites promote to get more members
Outside companies promote their products and service to appeal to the potential customers who are active on the sites
Disadvantages
News Article 3: Disadvantages of Social Media Marketing
Easily Tarnished Brand Reputation (Jens, 2015)
Brand Transparency (Jens, 2015)
Time Consuming to Post on a Regularly Schedule (Jens, 2015)
Delayed Return on Investment (Jens, 2015)
consists of
Drivers of Social Media Engagement
Information Effect
information is key to turn the wheel
determines outcome in which relevant information is spread by firms or individuals to other members of the social network
impact depends on its context and the receiver
marketers provide information that is contextually relevant
eg. interjecting a humorous advertisement into a social network of users who like to joke around and share funny pictures
Connected Effect
outcome that satisfies humans' innate need to connect with other people
connection is bidirectional
people learn what their friends are interested in
people also want to broadcast their own interests and opinions to those friends
Humans seek connections
social media provides them with new, easy and engaging way to do so
Network Effect
information is transferred to its creator's vast connections across social media
information spread instantaneously
engaging influencers can extend network connection
Micro-Influencers
"normal" people who are real and authentic
has 1,000 to less than 10k followers
better engagement
more likely to reply to comments on social media posts about products
enhance brand's customer engagement
bridges more networks between the brand and its customers
Macro-Influencers
have visibility
10k to less than 50k followers
provides more visibility and awareness of a brand
engaged to give precise instructions on what to post
Celebrities
famous people known by many
have 10s of thousand to million followers
provides more visibility and awareness of a brand
engaged to give precise instructions on what to post
News Article 2: How Influencers are impacting during Covid-19 in US
Dynamic Effect
impact is twofold
marketers can provide very specific information, well received by the interested parties
describes the way information is exchanged to network participants
back-and-forth communications
in an active and effective manner
efficient to get information or to resolve disputes
can provide firms with insights on how to best provide the product or service in the future
expands the impact of network effect
by examining how people flow in and out of networked communities as their interests change
eg. Social network community made up of parents
concerned with everything related to school-going children
share various interests, places for best tuition teachers, healthy food for children
eg. Kiasu Parents
Timeliness Effect
firm being able to engage with the customer at the right place and time
social media allows 24/7 engagement from any location
to be effective, firms must respond quickly
customer enjoy timely interaction when first engage with them at point of purchase
positively impact customers' buying intention
Types of Social Media
Social Networking Sites
helps to
create hype
leads to
Media Sharing Sites
such as
Youtube
Instagram
Though Sharing Sites
Social Media Strategy
Components
Listen
Listening to the customer using techniques like sentiment analysis
technique use to analyse content found on social media sites to assess customers
customers appear willing to provide their opinions on just about anything that involves their interests and purchases
shows customers' attitude and preferences
provides new insights into what customers really think
companies make use of real-time information to make quick changes such as product launch, advertising campaign or customer complaints
Analysing
helps
Main Categories of Analysis
determine the amount of traffic using their sites, visiting blogs or tweeting
learn who the visitors are, what they are doing, and what engages and excites them
analyse data that comes from other sites
determine amount of traffic
through
Factors
Hits
shows
Page View
Bounce Rate
Click Path
shows
Keyword Analysis
Conversion Rate
types
Content
refers to
what's popular
Social
includes
tracking effectiveness of social media
through
information on social media referred conversion rates
engagement metrics
Mobile
Conversion
measures
sales
downloads
video plays
Advertising
uses
Do
use information to develop tactic to engage their customers, similar to the process of executing a marketing campaign
Steps to do a Social Media Marketing Campaign
Identify Strategy and Goals
through this campaign, factors firms have to determine
what it hope to promote
what it hopes to achieve
Identify Target Audience
determine who the firm is targeting
Campaign: experiment and engage
after determining target audience, the copy and images are developed
strong, eye-catching images and designs are important
call-to-action has to be clear and compelling
Develop a Budget for a Specific Campaign
Monitor and Change
reviewing the success of the campaign
implementing changes into the campaign according to success