"The Importance of Social Media and Web Analytics" Please respond to the following: •* From the scenario, prioritize the most significant components of a social media campaign according to the level of influence each could have on the new product launch.

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MKT 500 Week 8 Scenario: Developing Social Media Campaigns for the New Product Launch

 

 

 

Slide #

Scene #

Narration

Slide 1

Scene 1

 

[Ed, Samantha – Ed’s Office]

 

Ed and Samantha meet in the morning to discuss the next steps in the tablet PC launch.

MKT500_8_1_Samantha-1: Good morning, Ed. How are you doing today?

 

MKT500_8_1_Ed-1: Good morning, I’m doing quite well. What about yourself?

 

MKT500_8_1_Samantha-2: Good, thanks. I’m really proud of the progress we’ve been making with our tablet launch, and I’m excited for the next steps.

 

MKT500_8_1_Ed-2: I love your enthusiasm, Samantha! I spoke with Carl earlier. He said now that we have selected our advertising media and budget, we need to take a deeper look into social media.

 

MKT500_8_1_Samantha-3: Yes, the enormity of today’s media choices—the Internet alone—makes it a wonderful time to be alive. Social media is at the cutting edge of this trend.

 

MKT500_8_1_Ed-3: As we discussed, we can use social media as one of our main media outlets for advertising the new tablets. However, mobile marketing is growing because our cell phones are particularly convenient; they contain our identities and those of the people we talk to frequently. They are our portals to email, social media and networking sites, which are many people’s primary means of sharing information and entertainment.

 

Interestingly enough, at the same time that electronic and information technologies are becoming more accessible and pervasive, traditional media are experiencing their own changes.

 

Slide 2

Interaction

 

Hover your mouse over each media to discover more information about the changes they are undergoing.

 

Newspaper

Newspaper circulations are declining, and while optimists continue to launch new magazines every year, their overall sales and circulations are down as well.

 

Radio

The number of radio stations has grown, boosted by satellite servers, but listeners are tuned in for less time each day than just a few years ago.

 

TV

Television channels also continue to grow. The bad news about this fragmentation is that with more TV channels, the audience for any given show is typically smaller. The good news is that targeting is a facilitated when the segments of viewers are somewhat more homogeneous.

 

MKT500_8_1_Ed-4: Hover your mouse over each type of media to discover more information about the changes they are undergoing.

 

MKT500_8_1_Ed-4_Tab A: Newspaper circulations are declining, and while optimists continue to launch new magazines every year, their overall sales and circulations are down as well.

 

MKT500_8_1_Ed-4_Tab B: The number of radio stations has grown, boosted by satellite servers, but listeners are tuned in for less time each day than just a few years ago.

 

MKT500_8_1_Ed-4_Tab C: Television channels also continue to grow. The bad news about this fragmentation is that with more TV channels, the audience for any given show is typically smaller. The good news is that targeting is facilitated when the segments of viewers are somewhat more homogeneous.

 

Slide 3

Scene 1, cont.

 

[Ed, Samantha – Ed’s Office]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Display social media graphic)

 

 

http://blogs-images.forbes.com/benkerschberg/files/2011/09/Social-Media-Icons.png

MKT500_8_1_Samantha-3: Very interesting, Ed. I hadn’t realized the effects of social media on more traditional media types.

 

MKT500_8_1_Ed-5: The other part of the “social media” story is its social, or human, element. Belonging to different communities and interacting with different people in our social roles is part of our identity.

 

The most fundamental means of interaction is dialogue. In social media, customers have become participants in a dialogue with marketers or brands.

 

Traditionally, customers had been mere recipients of one-way messages that had been shot out by marketers, but now customers have a means of talking back. For example, customers post positive endorsements about brands, and they also use the web to vent. I often vent on Facebook about restaurants where I have had a bad experience. 

 

MKT500_8_1_Samantha-4: (pointing to graphic of different types of social media) This is very true. Are there certain types of social media that you had in mind for our tablet launch? I have a Facebook account and use Twitter and Pinterest frequently, but I  feel that using all of these might be overkill for our new tablet launch.

 

MKT500_8_1_Ed-6: Well, there are a few sites that I believe will provide Golds Reling with very strong exposure during our initial launch. Let me show you this short video that discusses the advantages of using social media in our marketing campaign.

Slide 4

Social Media Marketing in 3  Minutes

 

http://www.youtube.com/watch?v=gza8dvN8Hkc

 

Slide 5

Scene 1, cont.

 

[Ed, Samantha – Ed’s Office]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MKT500_8_1_Samantha-5: Thanks for sharing that video, Ed. I understand better how social media helps connect companies to customers, and helps customers get to know, like, and trust companies better.

 

MKT500_8_1_Ed-7: Yes. The key to a successful social media campaign is selecting a social media that creates good W.O.M.

 

MKT500_8_1_Samantha-6: What is W.O.M.?

 

MKT500_8_1_Ed-8: W.O.M. is Word-of-mouth. Word-of-mouth works on inherently exciting products like Golds Reling’s new tablet, and it also works where the notion of buzz marketing makes sense. Yet creative brand managers have launched clever ad campaigns that get talked about even for pretty mundane products, too; the key being that the product and the message are meaningful to the customer.

 

MKT500_8_1_Samantha-7: Okay. You know, I learned in my classes at Strayer University that different social media combined create social networks. In social networks, there are some members that are more connected and influential than others. We need to leverage these interpersonal group dynamics, ideally locating the highly connected influential members, to induce their trial of our tablet, in turn initiating and propelling the diffusion process.

MKT500_8_1_Ed-9: You’re right. To locate these influential members and get the word out about our tablet, we need to study how these potential consumers, or actors, are embedded in these networks to locate those that are relatively central. Centrality indices are computed for each actor in the network to describe the position of that actor relative to others in the network.

The easiest and most common way to compute centrality is to count the number of connections each actor has with the others in the network. An index of degree centrality is derived for each actor—those with many links are said to be relatively central, and those with fewer links are more peripheral.

 

In order to determine the degree of centrality for these consumers, we need to create several different accounts on various social media forums for Golds Reling. Strong centrality will be useful in creating buzz for our new tablets.

 

MKT500_8_1_Samantha-8: Okay. We can start working on this right away.

 

MKT500_8_1_Ed-10: First, though, let’s begin with answering the return of investments, or ROI, issues. As you know, Carl is always focused on the bottom line.

 

MKT500_8_1_Samantha-9: What should we focus on in terms of ROI? 

 

MKT500_8_1_Ed-11: As with traditional media, we can begin to answer return on investment questions only if we know the goal that the marketing action was initially intended to achieve. Based on our goals, selecting the media and ROI measures are rather straightforward.

When estimating ROI, which is really the efficiency of investments, the primary expenditures might not be media buys or explicit budgetary contributions so much as salary equivalents of people’s time allocations.

We also need to consider KPIs.

MKT500_8_1_Samantha-10: I know that KPIs are key performance indicators, but how do we identify KPIs for social media?

MKT500_8_1_Ed-12: KPI’s for social media are analogous to traditional measures for advertising effectiveness. Specifically, marketers are always interested in quantifying reach, frequency, monetary value of customers, customers’ behaviors, attitudes, and memory, including recall and recognition.

MKT500_8_1_Samantha-11: So, how can we determine the ROI and KPIs for our tablet?

MKT500_8_1_Ed-13: I’m glad you asked this question, Samantha. A common way to determine ROI for social media is through conversation rate. This term refers to the true engagement for conversations in your social media communities. Conversations will be different depending on the network.

For example, Facebook, YouTube, and blogs are focused on comments; however, Twitter is measured with mentions and hashtags. We, therefore, calculate the figures for each network, and calculate how many conversations took place about our company and products per post, tweet, or video submission.

Another method we can use is viewability rate. This metric is a little harder to find on Twitter. However, for other networks and mediums such as Facebook, YouTube, and our blog, it is the total number of views or impressions per post. This is not as important as the conversation rate, but it is always satisfying to see how often your content is being looked at, and if no one is seeing it, then you better find a way to get users to view it!

MKT500_8_1_Samantha-12: I see. Thank you for that explanation. Before we move on, let me check to make sure I understand what you are saying about KPIs.

Slide 6

Check Your Understanding

 

KPIs for social media are _________ traditional measures for advertising effectiveness.

 

A) very different from

B) analogous to

C) opposite of

D) inconsistent with

 

Feedback:

Incorrect A – very different from: KPI’s are very similar to traditional media.

Correct B – analogous: KPI’s are very similar to traditional media.

Incorrect C – opposite of:  KPI’s are very similar to traditional media.

Incorrect D – inconsistent with:  KPI’s are very consistent with traditional media measurements.

 

 

Slide 7

Scene 1, cont.

 

[Ed, Samantha – Ed’s Office]

 

MKT500_8_1_Samantha-13: Great information, Ed, but can we go back to the word-of-mouth concept? How do we know consumers are talking about our new tablets on social media? How can we capture this and make it work for Golds Reling?

 

MKT500_8_1_Ed-14: Word-of-mouth conversations and other customer-to-customer information flows have become a rich new source of consumer insights.

There are two main categories for the ways in which consumers receive information about companies and their products: passive listening and active intervention.

Slide 8

Interaction

 

Click the tabs to learn more about passive listening in marketing.

 

Passive Listening

Research shows that a lot is learned from lurking, or web crawling, and scraping, all of which are examples of passive listening:

Tab A - Tweets, blogs, and discussion forums are monitored to make predictions about new product launches more accurate.

 

Tab B - Companies use text analyses on Facebook to get a read on customer opinions about their brands.

 

Tab C - Beyond the brand itself, content analysis has been useful in detecting developing consumer trends.

 

Tab D - Brand managers check websites for misinformation to try to nip bad, grassroots PR in the bud.

MKT500_8_1_Ed-15: Click the tabs to learn more about passive listening in marketing.

MKT500_8_1_Ed-16: Passive Listening

Research shows that a lot is learned from lurking, web crawling, and scraping, all of which are examples of passive listening:

MKT500_8_1_Ed-16_Tab A: Tweets, blogs, and discussion forums are monitored to make predictions about new product launches more accurate.

 

MKT500_8_1_Ed-16_Tab B: Companies use text analyses on Facebook to get a read on customer opinions about their brands.

 

MKT500_8_1_Ed-16­_Tab C: Beyond the brand itself, content analysis has been useful in detecting developing consumer trends.

 

MKT500_8_1_Ed-16_Tab D: Brand managers check websites for misinformation to try to nip bad, grassroots PR in the bud.

 

Slide 9

Scene 1, cont.

 

[Ed, Samantha – Ed’s Office]

 

MKT500_8_1_Samantha-14: Great information, Ed. What can you tell me about active interventions?

Slide 10

Interaction

 

Click the tabs to learn more about active interventions.

 

Active Interventions

 

Tab A - Marketers enter online communities and ask for paid volunteers to be user groups to test beta products and offer feedback.

 

Tab B - Marketers conduct experiments. In the so-called A / B split tests, one group is exposed to one ad, new product description, or whatever element of the marketing mix the marketer is testing. The other group is either a control group, or they see a different version of an ad, new product description, etc. The marketer then compares brand attitudes or subsequent sales in test markets to detect some lift due to the marketing intervention.

 

Tab C - A company may wish to measure comparative click-through rates, member sign-up rates, or purchase valuation, as a function of whether the ad appeal is more rational or emotional, whether video or script endorsements are featured, which price is posted and whether a discount is available.

 

Tab D - GPS data function much like live cookies, storing information for your convenience upon return while still protecting your privacy. The purpose of GPS units in phones was originally consumer service for mapping. GPS units are becoming geo-retailing units, and they will soon offer extremely timely opportunities for marketers, though some may consider this more intrusive than timely. A motivated company will know where its customers are at all times.

MKT500_8_1_Ed-17: Click the tabs to learn more about active interventions.

Active Interventions

MKT500_8_1_Ed-17_Tab A: Marketers enter online communities and ask for paid volunteers to be user groups to test beta products and offer feedback.

 

MKT500_8_1_Ed-17_Tab B: Marketers conduct experiments. In the so-called A / B split tests, one group is exposed to one ad, new product description, or whatever element of the marketing mix the marketer is testing. The other group is either a control group, or they see a different version of an ad, featuring a new product description. The marketer then compares brand attitudes or subsequent sales in test markets to detect some lift due to the marketing intervention.

 

MKT500_8_1_Ed-17_Tab C: A company may wish to measure comparative click-through rates, member sign-up rates, or purchase valuation as a function of whether the ad appeal is more rational or emotional, whether video or script endorsements are featured, which price is posted and whether a discount is available.

 

MKT500_8_1_Ed-17_Tab D: GPS data function much like live cookies, storing information for your convenience upon return while still protecting your privacy. The purpose of GPS units in phones was originally consumer service for mapping. GPS units are becoming geo-retailing units, and they will soon offer extremely timely opportunities for marketers, though some may consider this more intrusive than timely. A motivated company will know where its customers are at all times.

 

Slide 11

Scene 1, cont.

 

[Ed, Samantha – Ed’s Office]

 

MKT500_8_1_Ed-18: In general, social media pundits advise that any corporate postings or representations have to start by being interesting – otherwise, consumers won’t even read them! The content needs to be honest, not defensive, and not too “corporate”. There needs to be transparency to customers, employees, and stakeholders. Being transparent usually means being honest, building trust, and creating the opportunity for two-way dialog.

Social media have sufficient variety and prevalence that they can be a tremendous marketing tool—if we can offer something that provides value to those customers, and reaches them in a way that matters to them.

MKT500_8_1_Samantha-15: You’ve given me a lot of valuable information about social media, Ed.

MKT500_8_1_Ed-19: I’m glad that you feel that way. Next, we can start by creating Golds Reling accounts for each of these social media applications.

MKT500_8_1_Samantha-16: Well, since we already have a Facebook account, I can create a Twitter, Google Plus, and Pinterest account for Golds Reling.

MKT500_8_1_Ed-20: Excellent. Let’s break for now, and then we can organize our information for Carl.

Slide 12

Scene 2

 

[Ed, Samantha, Carl – Conference Room]

 

Ed, Samantha, and Carl meet in the conference room to discuss the social media aspects of the product launch.

MKT500_8_2_Carl-1: Good afternoon, Ed and Samantha. I saw you both looking very busy in Ed’s office earlier. I’m looking forward to hearing the information that you two have put together concerning social media marketing for our new tablets.

 

MKT500_8_2_ Samantha-1: Yes, Ed and I have been very busy. We have analyzed and concluded some basic concepts.

 

MKT500_8_2_Carl-2: And what would these be?

 

MKT500_8_2_ Samantha-2: Social media are an abundant opportunity for Golds Reling.

Social media provides a web-based means for customers to interact with friends and strangers by posting opinions, pictures, and videos.

 

Social networks are the structures of interconnections among customers that propagate word-of-mouth.  Networks can be drawn and analyzed, and the actors measured on indices of centrality to assist Golds Reling in finding opinion leaders and influential consumers. Our campaign would identify these actors within two months of launch and create great buzz for our new tablets. 

 

A great feature of social media is the measurement methods; these are ROI and KPIs, and they can be computed with the help of online analytics, as for any marketing effort.  

 

MKT500_8_2_Carl-3:  Good points! Why do you believe that investing in advertising through social media would be the right decision for Golds Reling and our new tablet?

 

MKT500_8_2_Ed-1: Social media is a great way to generate repeat business and to attract new customers. Furthermore, the target market we have selected are big users of social media. Golds Reling already has a Facebook account, but we believe that creating accounts for Twitter, Google Plus, and Pinterest will really help boost the conversation rate, and, thereby, the word-of-mouth, for both our company as a whole as well as our new tablet.

 

MKT500_8_2_ Samantha-3: Carl, by utilizing social media, we feel that Golds Reling is spending our advertising money wisely.

 

MKT500_8_2_Carl-4: Ok, sounds like a good investment. Explain how we are going to measure this investment.

 

MKT500_8_2_ Samantha-4: The key is to communicate the different features of our new tablet and to have consistency in the message we choose for social media. Measuring effectiveness will occur through KPI’s, recall, attitudes, click rates, and conversation and viewability rates from social media communications.

 

MKT500_8_2_Carl-5: Excellent. I like what I’m hearing. Social media sounds perfect for generating buzz and word-of-mouth about our new tablet. I agree that Twitter, Google Plus, and Pinterest accounts for Golds Reling will be excellent additions to our existing Facebook account. Very nice work, both of you.

Slide 13

Check Your Understanding

 

What social media term refers to a set of actors (or nodes) and the relational ties that link them?

 

A) Team

B) Group

C) Network

D) Forum

 

Incorrect A – Team: This is not the terminology used to describe relationships in social media.

 

Incorrect B – Group: Although a group includes two or more people, this is not a part of the relational ties.

 

Correct C – Social Network:  A network is defined as the set of actors (or nodes) and the relational ties that link them. Actors may be customers, firms, brands, concepts, countries, etc. The connections between the actors are relational ties (or links). Ties can be symmetric or directional, and they can be binary or vary in strength.

Incorrect D – Forum: Although this is a close description, it doesn’t explain the interaction experienced in social media.

 

 

Slide 14

Scene 3

 

[Ed, Samantha – Hallway]

MKT500_8_3_Samantha-1: Today was a highly informative day. Using social media for marketing can help us generate word-of-mouth about our tablet, especially if we are able to connect with the most influential members of social networks.

MKT500_8_3_Ed-1: Absolutely. It will also help customers identify Golds Reling as a company they know, like and trust. Don’t forget to complete the e-Activity and participate in this week’s threaded discussion on social media KPI’s and ROI. See you next week!

 

 

 

"The Importance of Social Media and Web Analytics"  Please respond to the following:

  • * From the scenario, prioritize the most significant components of a social media campaign according to the level of influence each could have on the new product launch. Examine both the social media tools that will provide the highest return on investment (ROI), and two (2) key performance indicators (KPIs) that one could use to measure success. Provide a rationale for your response.
  • Use the Internet to research social media marketing strategies. Next, imagine that you are a manager of a retail store in a major mall with decreasing sales. Suggest two (2) ways that you can use social media in order to increase sales and promote your business. Provide two (2) examples of businesses that have used these methods and succeeded.
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