Social Media Marketing

BBIM608
Enterprise Social Networks

Introduction

  • Overview of the e-marketplace
  • Social media marketing basics
  • Aims
  • Strategy
  • Tools
  • Measuring
  • Further reading

Food for thought

  • The importance of Internet branding
  • The role of the Internet in new product development
  • The impact of Internet technologies on pricing
  • (on-/off-line)
  • The impact of Internet on the supply chain
  • Is there a change in customer delivery expectations
  • Has the Internet eliminated any intermediaries?
  • How have the new channels affected purchase behaviour?

Basic considerations

  • How much of our promotional spend should we devote to online communications?
  • What is the most important communications tool in e-marketing?
  • Do traditional marketing communications methods still have a role to play in the connected world?

10 Cs of marketing for Internet marketers*

7 Ps of marketing mix

Online marketing environment
 

Microenvironment Factors*

Suppliers
The Internet has impacted upon existing supplier arrangements as it has opened up the market for many companies to access potential new suppliers across national boundaries faster.

Distributors
The Internet has impacted upon traditional distribution channels removing some intermediaries (disintermediation) whilst creating new channels (reintermediation) in existing markets.

Stakeholders
As part of any organisation’s promotional planning, communicating effectively with various stakeholders is critical.

Competitors
More competition both within and across national boundaries 

Macroenvironment Factors*

PEST or STEP model:

Societal
Customers who are cash rich-time poor and own sophisticated equipment/technology

Technical
Customer Relationship Management, faster download speeds (video & audio streaming) and use of Social Media

Economic
Increased competition, global market with no geographical boundaries, cheaper promotional communications

Political
The level of government commitment to e-commerce adoption will significantly influence how each nation state will be able to compete across the globe

Social media marketing

  • Aims
  • Strategy
  • Tools
  • Measuring
  • Aims

Create:

  • PR and exposure
  • Brand awareness
  • Brand reputation
  • Lead generation

Establish:

  • New customers
  • New product development
  • Reputation management
  • Positive brand association & trust

Strategy*

The 3R framework

Tools 

  • Visibility of Web presence
  • Social network websites (e.g. Facebook)
  • Blogs and microblogs (e.g. Blogger, Twitter)
  • RSS feeds
  • Image & video share portals (e.g. Flickr, YouTube) 
  • Mashup & customised aggregator portals 
  • Third-party review sites (e.g. Yelp)
  • Check-in GPS-enabled websites (e.g. Foursquare) 

 

Visibility 

Direct marketing
Easy as a result of a marketing campaign:
the link is provided

Find-ability
How easy is it to find it via Web search?

Web design & usability
Once there, how easy is to find the information needed?

Popularity 
How do you increase the chances for people who are not searching to look for it?

Find-ability 

Domain names
Not as prominent/important as they used to be

Keyword search
Keywords associated with the company’s profile

Keywords in multimedia content
Tagging of images, audio, video etc.

Web search & search engine marketing

Search Engine Optimisation (SEO)

Paid inclusion

Search Engine Optimisation 

The process of improving the visibility of a website  in search engines via the “natural” or un-paid  search results. The higher ranked on the search results page, the more frequently a site appears in the search results list, and the more visitors it will receive from the search engine’s users.

SEO may target different kinds of search, including image search, local search, video search, academic search, news search and industry-specific vertical search engines.

Paid inclusion

When the search engine company charges fees related to inclusion of websites in their search index. Also known as sponsored listings, paid inclusion products are provided by most search engine companies, the most notable being Google.

The fee structure is both a filter against superfluous submissions and a revenue generator.

Typically, the fee covers an annual subscription for one webpage, which will automatically be catalogued on a regular basis.

Popularity 

  • A very important aspect
  • How can you increase popularity?
  • High quality content
  • Frequent content updates
  • Good web design
  • Blog posts (guest posting)
  • Social networks groups
  • Comments (blogs, groups, etc.)
  • How about viral marketing?

Social Media marketing companies 

Measuring* 

Measuring Social Media impact

  • No tangible direct method
  • Indicators
  • Low impact
  • Medium impact
  • High impact
  • Measuring methods

Low impact indicators*  

Low impact metrics address the visibility aspect of social media. We can distinguish two types of visibility:

Potential visibility
Measurement method: off-site web analytics

Actual visibility

Method of improvement: SEO
Measurement method: on-site web analytics, a group of metrics used to monitor web site usage in order to understand and optimise its performance in a commercial context

Medium impact indicators*

Medium impact metrics address consumer engagement and retention. Aspects involved:

Reaction/ interaction
Measurement method: on-site web analytics

Participation and influence
Measurement method: Content analysis is the technique used to measure participation. Traditionally a tool for measuring success in public and media relations, it is increasingly used as an element of media evaluation and analysis

High impact indicators*

They correspond to directly measurable business outcomes and performance.

The methodology followed is based on key performance indicators (KPIs), is organisation-specific and requires a setup that establishes a foundation that predates social media adoption.

The baseline should identify the KPIs that will be monitored and list their initial values. A timeline of activities should be determined, against which the KPIs will be appraised.

Providing that the performance indicators are well chosen, ROI can be calculated by measuring the results and comparing them with set goals.

Frequency – Reach -Yield

The  FRY method is used in evaluating social media campaigns.

The parameters are:

  • Frequency referring to sales,
  • Reach referring to consumer spread and
  • yield referring to the profit made.
  • The parameters are measured before and after the campaign, and assuming that all other parameters affecting sales are kept constant, ROI can be established

Further reading

Principles and Drivers of the. New Marketing Environment
Richard Gay, Online Marketing, a Customer Led Approach, Ch1

The 3R Framework; Improving e-strategy, in Business Horizons
Wells,J., Gobeli,D.H., (2003)

Measuring the influence of Social Media Fefie Dotsika, (2011)

Users of the world unite! The challenges and opportunities of Social Media, Kaplan A., Haenlein M.,

 

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.