Chapter 4 Digital Marketing and Social Media: Living in the Connected World Flashcards
Define E-business
Conducting online transactions with customers by collecting and analyzing business information, carrying out the exchanges and maintaining online relationships
Categories of E-business
- E-tailing
- Business to business transactions
- Electronic data interchanges
- Gathering information
Define Digital Marketing
The strategic process of creating, distributing, promoting and pricing goods and services to a target market over the internet or through digital tools
Digital Marketing Capabilities
- Global reach
- Personalization
- Interactive marketing
- Right time marketing
- Integrated marketing
Global Research
The ability to reach anyone connected to the internet anywhere in the world
Example: Independent filmmakers use the internet to generate audiences and sales for their firms
Personalization
Creating products to meet customer specifications
Example: Lululemon Athletica has a website feature that allows buyers to mix and match items to create complete outfits to suit their individual tastes
Interactive Marketing
Buyer-seller communications through channels such as the internet and interactive kiosks
Example: Dell maintains the IdeaStorm site where users trade ideas, information and product feedback
Right time Marketing
The ability to provide a product at the exact time needed
Example: The WestJet website lets customers make advance reservations, check in online, check flight status and sign up for their rewards program
Integrated Marketing
Coordination of all promotional activities to produce a unified, customer focused promotional message
Example: Sony uses the slogan “Make. Believe.” in both offline and online promotions
Business to Consumer (B2C) Digital Marketing
Selling directly to consumers over the internet:
- Interactive marketing
- Access and convenience
- Personalized service
Challenges in Digital Marketing
- Safety and Online Payment
- Privacy Issues
- Frauds and Scams
- Site Design and Customer Service
- Channel Conflicts and Copyright Disputes
Explain Safety and Online Payment
Consumers are concerned about the safety of sending credit card numbers over the internet
Solution: Internet browsers contain encryption systems
Explain Privacy Issues
Collections and use of personal information through the use of cookies or spyware
Solution: Firewalls or electronic barriers
Explain Frauds and Scams
Phishing is a high-tech scam that uses authentic looking email or pop-up messages to get unsuspecting victims to reveal personal infomation
Vishing is a scam that collects information through voice response systems
Solution: No organization will ask for personal information through the internet
Explain Site Designed Customer Service
Well designed websites can draw more customers - customers want quick deliveries and easy ways to return products
Solution: Design sites to that products are easy to find and customer questions can be answered quickly
Explain Channel Conflicts and Copyright Disputes
If manufacturers sell through their sites, they compete with the stores selling their products - channel conflict
If material written or produced by a third party is placed on a side, copyright permission from the owner may be required
Solution: Don’t sell from their sites to avoid channel conflicts
Obtaining permission from the owner of material to be placed on the site avoids copyright issues
Four Main Functions of the Internet
- Digital business
- Entertainment
- Information
- Communication
Online Communities and Social Networks
- Internet forums
- Newsgroups
- Electronic bulletin boards
- Social networks
- New mobile payment systems
Blogs and Podcasts
- Blog
- Wiki
- Podcast
Define Blog
Online journal
Define Wiki
Web page you can edit
Define Podcast
Online audio or video file
Promotions on the Web
- Banner ads
- Pop-up ads
- Pre-roll video ad
- Widgets
- Search marketing
An E-business website can
- Broaden customer bases
- Provide immediate access to current catalogues
- Accept and process orders
- Offer personalized customer service
Successful Site Development
- Establish goals
- Implementation and interest
- Pricing and maintenance
- Assessing site effectivenes
Implementation and Interest, content should be
- Relevant to users
- Easy to access and understand
- Updated regularly
- Written or displayed in a compelling way
Pricing and Maintenance Costs
- Development
- Placing the site on a web server
- Maintaining and updating the site
- Promoting the site
Assessing Site Effectiveness
- Web to store shoppers
- Click through rate
- Conversion rate
- Engagement
Measure of Website Effectiveness
- Research studies
- Profitability
- Website traffic counts
- Click through rate
- Conversion rates
Define Social Media Platform
Type of software or technology that allows users to build, integrate or facilitate a community, interaction among user generated engagement
Social Media Tool
Enables users to communicate with each other online
List the Social Media Platforms
- Social Networking Sites
- Bookmarking Sites
- Social News Sites
- Blogging Sites and Forums
- Microblog
Define Social Networking Sites and provide an example
A website that provides virtual communities through which people can share information, post opinions and increase their circle of online friends
Examples: Facebook, Twitter, LinkedIn
Define Bookmarking Sites and provide an example
A platform that gives users a place to save, organize and manage links to websites and other internet resources
Example: Pinterest combines bookmarking with social networking
Define Social News Sites and provide an example
A platform where users can post new items to links to outside articles then vote on which postings get the most prominent display
Example: Digg, Reddit
Define Blogging Sites and Forums and provide an example
Blogging Sites are platforms where a host or writer posts information or opinion on various topics and followers may respond
Forums are platforms where users post messages and hold conversations of specific topics
Example: Tumblr
Define Microblog and provide an example
A blog posting that contains only a few words
Example: Twitter
Social Media Tools
- Sharing services
- Blogs
- Microblogs
- Apps
- QR codes
Define Social Media Marketing (SMM)
Social media portals to create a positive influence on consumers toward an organization’s brand, goods and services, public image and website
Essential features of Social Media Marketing
- Creates a buzz
- Creates ways for customers or fans to engage in conversations with each other and with the organization
- Allows customers to promote the firm’s messages themselves
Search Engines
Provide shoppers with the greatest amount of information about products and companies and helps with comparison shopping
Social Media Marketing Plan includes
- Goals and strategies
- Target market
- Budget
- Implementation methods
- Tactics for monitoring, measuring and managing the SMM effort
Setting Goals
Goals should be clear and felxible
Determining the target market
- Demographics
- What the group needs or wants
- Which of the firms’ products/social media will meet the needs and wants to particular groups of people
Creating Content
- Have a strong brand focus
- Focus on the audience
- Provide relevant information
- Have share worthy texts and images
- Include innovations to generate content
- Offer promotions, discounts in exchange for participation
Implementing the Plan
Create a timeline for rollout onto each social media platform
Ethical Issues in Social Media Marketing
- Workplace ethics
- Be honest
- Respect privacy
- Be accountable
