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Social Media > L10: Strategy, objectives, segmentation and targeting > Flashcards

L10: Strategy, objectives, segmentation and targeting Flashcards

1
Q

What is strategic planning?

A

The process of identifying objectives to accomplish, deciding how to accomplish those objectives with specific strategies and tactics, implementing the actions that make the plan come to life, and measuring how well the plan met the objectives

(Tuten & Solomon, 2021, p. 110)

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2
Q

A Process Perspective

A
  1. Analytics
  2. Goal Setup
  3. Key Perfomance Indicator
  4. Execution
  5. Reporting
  6. Monitoring
  7. Re-assesment
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3
Q

The social media strategy should support…

A

· The marketing strategy
· The communication strategy
The overall business strategy

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4
Q

What is branding?

A

A brand ‘is a name, term, sign, symbol or design or a combination of these, intended to identify the good or services of one seller or group of seller, and to differentiate them from those of a competitor’ (The American Marketing Association)

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5
Q

Brands can…

A

· Help the consumer locate and identify products
· Serve as a cue when assessing the product’s quality
· Make it easier to develop an attitude
· Reduce decision time when shopping
· Reward buyers psychologically
· Assist in building a relationship
· Increase the likelihood of loyalty, re-purchase
Allow for higher prices and larger margins

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6
Q

Brand positioning…

A

· What position do we already have in our customers’ mind?
· What position do we want?
· What companies must be outgunned if we are to establish that position?
· Do we have enough marketing budget to occupy and hold that position?
· Do we have the guts to stick with one consistent positioning strategy?
Does our creative approach match our positioning strategy?

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7
Q

The Marketing Plan Outline

A

PEFORM A SITUATION ANALYSIS

SET MARKETING OBJECTIVES

DEVELOP MARKETING STRATEGIES

IMPLEMENT AND CONTROL THE MARKETING PLAN

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8
Q

The Marketing Plan:

What does a first step: Situation Analysis consist of?

A
  1. Internal Environment
  2. External Environment
  3. SWOT
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9
Q

The Marketing Plan:

What does third step: Develop Marketing Strategies consists of?

A
  1. Select Target Markets and Positioning
  2. Product Strategies
  3. Pricing Strategies
  4. Promotional Strategies
  5. Supply Chain Strategies
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10
Q

The Marketing Plan:

What does fourth step: Implement and Control The Marketing Plan consists of?

A
  1. Action Plans (for all marketing mix elements)
  2. Responsibility
  3. Timeline
  4. Budget
  5. Measurement and Control
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11
Q

What does a Social Media Marketing Plan Outline consists of?

A
  1. SITUATION ANALYSIS AND IDENTIFY KEY OPPORTUNITIES

1.1 Internal Environment

1.2 External Environment

1.2.1 Swot

  1. STATE OBJECTIVES AND ALLOCATE RESOURCES
  2. GATHER INSIGHT INTO TARGET AUDIENCE
  3. SELECT SOCIAL MEDIA ZONES AND VEHICLES

4.1 Social community zone strategies

4.2 Social publishing zone strategies

4.3 Social entertainment zone strategies

4.4 Social commerce zone strategies

  1. CREATE AN EXPERIENCE STRATEGY ENCOMPASSING SELECTED ZONES
  2. ESTABLISH AN ACTIVATION PLAN
  3. MANANGE AND MEASURE
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12
Q

SWOT

A

Strength + Weaknesses (Internal)

Opportunities + Threats (External)

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13
Q

Social Media Audit

A

Followers, how often do we post? etc. (se model, Tuten & Solomon p. 121)

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14
Q

What does objectives consist of?

A
  1. Business mission (vision, corporate value and leadership)
  2. Business level objectives
    (survival, growth, expansion)
  3. Marketing level objectives
    (market share, sales by volume, value/profit)
  4. Social Media Marketing objectives
    (creation of awareness, engagement)
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15
Q

SMART mål?

A

S: Specific
M: Measurable
A: Achievable
R: Realistic
T: Time

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16
Q

Social Media Marketing Objectives

A
  1. Increase Exposure
    (Metrics: Reach, Impressions, view)
  2. Increase Traffic
    (Metrics: Page views, Unique Visitor, Length of visits)
  3. Increase Engagement
    (Metrics: Likes, Shares, Comments, Pins, +1, Retweets, Favorites)
  4. Garner Marketplace Insight
    (Metrics: Survey Entries, Comments)
  5. Development Loyal Fans
    (Metrics: Fans, followers)
  6. Generate Leads
    (Metrics: Hard lead, Soft Lead)
  7. Grow Business Partnership
    (Metrics: Contacts)
  8. Improve Sales
    (Metrics: Orders, New Customer, Sales Revenue)
17
Q

Social media marketing objectives might be phrased with different tasks in mind

A

· Aim at reaching consumers with the message
· Facilitate the processing of the message
Lead to the desired effect

18
Q

Objectives:

Example of reach objective

A

A reach objective for AU BSS’s social media marketing could be: 25% of all AU bachelor students should be aware of MSc programmes at AU through AU social media within the next 6 months

19
Q

Objectives:

Example of process objective

A

A process objective could be: Positive attitudes toward AU’s MSc programmes should increase 15% among AU bachelor students within the next 3 months

20
Q

Objectives:

Example of effect objective

A

An effect objective could be: AU MSc programmes should receive 7% more applications from AU bachelor students next semester

21
Q

What do you need to formulate a reach, process or effect objective?

A

Apply the SMART criteria

22
Q

What is market segmentation?

A

· The process of dividing a market into distinct groups that have common needs and characteristics

· Enables marketers to achieve a trade-off between the efficiency of treating all customers the same and the effectiveness of addressing all customers’ unique characteristics

When it comes to social media marketing, we need to also take into account how prospective customers can be segmented according to their digital lives

23
Q

What is STP-model?

A

Segmentation-Targeting-Positioning

24
Q

The STP-Process

A
  1. Defining and selecting segmentation variables as criteria
  2. Combining relevant criteria for identifying segment profiles
  3. Assess attractiveness of the segment
  4. Decide on target group(s) (in dependence of targeting strategy)
  5. Design desired unique positioning in consistence with the target group(s) and strategy
25
Q

Segmentation criteria can be…

A

Geographics, demographics, psychographics, behavioral

26
Q

Fig. 2.2 Buyer Persona

A

Se model

27
Q

Data for segmentation

A

· Marketers are interested in knowing the details of consumers

· Data can be from multiple sources to build a dataset useful for marketing analytics

· As consumers participate online, they leave behind residue, which becomes a source of big social data (BSD) generated from technology-mediated social interactions and actions online

Marketers analyse this information and paint a portrait of the consumer

28
Q

THE SOCIAL TECHNOGRAPHICS SCORE

A

Reflects how actively a segment uses social tools, how important those tools are within the stages of the customer life cycle, and how willingly they engage with brands in social media.

29
Q

Which four types of social media users in The Social Technographic Score?

A

The score ranges from 0 to 100 and includes four types of social media users:

1) social skippers,

2) social snackers,

3) social savvies, and

4) social stars

Tuten & Solomon p. 62

30
Q

TARGET GROUPS

A

Assumption that ‘core consumers’ create most of the revenue (e.g. 20% of consumers → 80% of revenue)

Focusing on these is most efficient for achieving marketing objectives

Be selective in the choice of the intended receiver, choose the channels the receiver uses, code the message so that the receiver approves most: reduces disturbing noise, and increases likelihood of positive feedback

31
Q

Target groups:

Requirements for effective segmentation

A

· Attainable (accessible, actionable)
· Differentiable
· Measurable
Relevant and substantia

32
Q

Targeting problems on social media

A

Social platforms are not intended primarily as marketing tools

Audiences can be both national and international – but social media might not be truly global

How can you reach appropriate audiences with potentially global messages?

Marketers should take cross-cultural differences into account
- Different social media for different countries
- Different social norms, culture, religion etc.

Huge differences in social media usage across countries
- Technology adoption
- Usage patterns (social norms, governmental regulation etc.)
- Cultural differences
- Hofstede’s five cultural dimensions can maybe explain some of these differences: Power distance, individualism/ collectivism, masculinity/femininity, uncertainty avoidance, long-term orientation

Number of ‘friends’ also differs significantly from country to country!

33
Q

Agentic vs communal Consumer friendship with the brand):

What is Agentic Friend?

A

Friends provide self -worth through validation and support for the individual in a non -committal and sporadic way

34
Q

Agentic vs communal Consumer friendship with the brand):

What is Communal Friendship?

A

Friendship based on wider variety of factors, including companionship, mutual affection and shared experiences

Social Media (16 decks)

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