4 lecture Flashcards
example Marketing objective:
Engagement, brand attitude and personality
Customer engagement is
a psychological state that occurs by virtue of interactive, cocreative customer experiences with a brand
Cognitive engagement
e., how much consumers think about a brand)
Emotional engagement
(i.e., what people feel about a brand)
Behavioral engagement
e., how much energy, effort and time consumers spend on using a brand)
Customer engagement behaviors go beyond purchases:
A customers behavioral manifestations of brand engagement that go beyond purchase, and result from motivational drivers.
Ignoring customer engagement may lead to
an undervaluation or overvaluation of customers.
Ignoring customer engagement may lead to an undervaluation or overvaluation of customers.
This wrong valuation may potentially create a
misallocation of resources across customers. Moreover, one may calculate wrong returns on marketing actions
- Customer Lifetime Value (CLV):
The present value of future profits from a customer
- Customer referral value (CRV):
CLV from customers acguired from referral programs
- Customer Influence Value (CIV):
CLV of customers acquired from influence, reviews, opinion leaders
- Customer Knowledge Value (CKV):
the value of feedback. Product/service expertise
Digital customer engagement practices C2C
Talk about the brand • Blogging • Interacting with other consumers • Recommending to a friend • Helping other customers • Cognitive +++ • Emotional ++ • Behavioral ++
Digital customer engagement practices C2B
Customer feedback • Filling out surveys • Making suggestions for improvements • Cognitive +++ • Emotional ++ • Behavioral ++
Digital customer engagement practices B2C
Learn about the brand • Watching videos • Viewing pictures about the products on social media • Signing up for updates • Cognitive +++ • Emotional + • Behavioral +
Ad content and consumer engagement. We don’t rely only on the optimization algorithms because sometimes they: 4
º Don’t have any coordination with brand image, brand personality, strategic directions º There is an unknown long-term consequences on other outcomes relevant for the brand
º Not able to understand consumer behavior may inform future direction and strategy
º Difficulty in optimizing and coordination various types of digital marketing efforts (+across customer journey stages)
Directly informative content
Any product-oriented facts, rice/deals, and brand and product mentions
Brand personality content (persuasive content):
Humor, emotional appeal, casual banter, or discussion of the brands philanthropic outreach
2 types of targetinf
º Targeting strategies (demographic, geographic etc.) and behavioral targeting (retargeting)
Ex-post targeting of content to specific consumers due to algorithms employed by social media networks
What is the problem?
2X
- Non-random allocation of content to consumers => selection effects (biases)
- The outcomes of a targeted / retargeted ad reflect both the effects of the content and that of targeting strategies employed
Main findings from Lee et al. (2018)
Positive (negative) coefficient => positive (negative) relationship between X and Y
Positive (negative) interaction => the relationship between X and Y is more positive (negative) as X increases
Main Findings from Lee et al. (2017) focus:
: The association between different types of social media marketing content with user engagement (defined as likes, comments, shares) with a message (large-scale study across 782 companies)
Main Findings from Lee et al. (2017) challenge:
Selection effects due to ex-post targeting in Facebook Classification of content attributes (tags)
Main Findings from Lee et al. (2017) Results 2X
Brand personality content (humor, emotion etc.)
=> higher levels of engagement with the messages;
Directly informative content (price promotions and deals):
=> lower levels of engagement when included in messages in isolation
=> higher engagement levels when provided in combination with brand personality-related attributes
Content scheduling on Social media
- Timing of social media posts matters
- Posting stories in the morning generates approximately an 8.8% (11.1%) increase in link clicks compared with posting stories in the afternoon (evening)
Content scheduling on Social media- Deploy social media ads at the right time
- In the afternoon, on average, social media ads accumulate approximately a 21% increase in link clicks compared with social media ads in the morning
- Social media ads at night, on average, decrease link clicks by approximately 9.7% compared with social media ads in the morning, leading to a loss in advertising revenue
Social media marketing strategies (SMMS)
Purpose of it:
To interact and connect. Their strategy is to generate, integrate, and reconfigure social media resources to achieve specific marketing objectives.
