Presentation on theme: "C HAPTERS 7-8 What I post on the Internet does not Stay on the Internet!"— Presentation transcript:
C HAPTERS 7-8 What I post on the Internet does not Stay on the Internet!
I MPLICATIONS OF SOCIAL MEDIA ACTIVITY The significance of peer recommendations cannot be overlooked. Consumers rely very little on main stream advertising (14%) Social media allows the best of the best to be apart of social interaction. Mediocrity will slump and superior brands will rise to the occasion. 90% of consumers trust peer recommendations.. And social media closes the time, credibility and geographic gaps
I NCENTIVE B ASED I NFORMATION No longer do consumers need incentives to complete surveys that can be analyzed by firms Consumers willing share their experiences and preferences of their increasingly public lives Early adopters are eager to share their product experiences online, allowing brand managers the luxury of focusing more on feedback from consumers than advertising
R EDUNDANCY Social media removes the redundancy of market roles. Individuals do not require multiple people to perform the same tasks. One consumer posts an experience and opinion and others willing jump in the conversation. Sites like Hotels.com make customer reviews accessible and research is no longer time consuming Danger to Inattentive Brand Managers Companies no longer control and direct the conversations related to their brands! Let’s pull up Apple, Inc. and check out the feedback on the new iPhone 6 and 6 Plus
U SERS OF F ACEBOOK
W EBSITE I NFORMATION VS S OCIAL M EDIA A company like Expedia can operate a website that generates tens of thousands of names and s to their data base. Within this data base, I can generate information that assists in developing promotions, targeting certain consumer groups and developing custom promotions for these groups Males and females 40-55, 100k + income, kids in college or out of the house that like cruising. Target them with cruise information, sales, all inclusive resorts, flight info, etc. Expedia can then monitor on a timely basis the chatter on their social media sites to stay abreast of real time discussions. Customers can track and brag about their tours and destinations. Furthermore, searches can be integrated with social media posts and promotions!
P RODUCT PLACEMENT AND A DVERTISING ON E- READERS What do you think of the enhanced idea of product placement in novels and non-fiction efforts? Currently Amazon offers Kindle in 2 varieties $79 with special offers Kindle Daily Deals for upcoming titles Deals on digital content, for example: $5 to spend in the Amazon MP3 Store This content displays on your Kindle's screensaver and on the bottom of the home screen—it doesn't interrupt reading. $99 without offers
A DS VS NO ADS Kindle PaperWhite is also available with promotional messages that do not appear while the consumer is reading material. The price difference is $119 vs. $139 With wifi + 3G connectivity it is priced $189 and $209
K INDLE V OYAGE The next generation Kindle offers higher resolution, adaptive front light, reimagined page turns, yet still offers the consumer the choice of the special offers or not. $199 vs. $219 Why would Amazon offer this option with the higher end product?
A DVERTISING IN MAGAZINE AND BOOK CONTENT What are your thoughts regarding an e-reader that provided a web link within the content of a novel. Within the description of a scene in a home a brand such as coca-cola or iphone is mentioned. The brand name is a web link … Additional revenue streams vs. consumer backlash? Would you compensate Amazon by click thrus or # of books sold with link?
S OCIAL B RAGGING Could social bragging by friends and peers on social media replace Google searches? Do you search Google for a vacation destination or do you link to a site a friend refers to in a post?
R EFERRAL P ROGRAM ON S TEROIDS ! Referring customers #1 Referring sales reps and channel members Amazon offers products to you that your network of friends also enjoys.. Takes into account the social implications Outsourcing commercials to consumers! Superbowl Doritos ad contest Affinity Marketing Amazon introduces recommendations based on previous purchases Based on observations (purchase behavior) – gifts can throw off the algorithm Relying on old tricks Direct mail Lobbying PR What Works in Promotion? What Needs Improvement
T HE D EATH OF MULTIPLE PERSONALITIES Do you have a work, school and social persona? Do these independent personas rarely interact or mix? Social, work, family Your answer is probably ‘yes’ if you are over 40 Social media has destroyed this phenomena with younger generations
I MPLICATIONS OF THE LOSS OF ROLE PERSONAS Job searches Job retention Use of avatars Privacy Implications for goods and services Video games Avatars Exercise and fitness products Fashion choices Is 24/7 openness beneficial in today’s society? What are acceptable boundaries? Lack of Privacy Can you get fired? Lose out on a job opportunity Fake Personas for job searches, football drafts, even dates Traditional RolesImpact of Social Media
C AN S OCIAL MEDIA ALLOW THE TRUE PERSONA OF A FIRM TO SHINE ? You cannot be all things to all people … you cannot satisfy all customers nor develop products for all customers Be honest Focus on one cohesive message Twitter is great for this approach Since 1902, Cadillac has stood for uncompromising performance, daring design and groundbreaking technology Cadillac Cadillac 5h Cadillac Cadillac 5h A masterpiece in the making. The 2015 Escalade debuts 10.7 at 7:30PM # EscaladeReveal autumndewilde # EscaladeReveal autumndewilde
O THER T WITTER FEED EXAMPLES – NO CONTROL!! Apple News applenws 2h Obama: iPhones Have Glitches Just Like Has Glitches. TechCrunch 3/gpwMpCC7e0g/ … TechCrunch 3/gpwMpCC7e0g/ …
M OVIE FEEDS – CONTRASTING OUTCOMES Huffington Post HuffingtonPost 36m36 minutes ago Huffington Post HuffingtonPost 36m36 minutes ago Where " Gone Girl " went wrong F F Huffington 40 minutes ago Gone Girl has a Rape Problem New York Magazine NYMag 5h5 hours ago New York Magazine NYMag 5h5 hours ago Is ' Gone Girl ' the worst first date movie of all time? Our investigation: Retweets 12 Favorites 19
I S T WITTER WORTH IT ? I S ANYONE LISTENING ? The combination of corporate efforts and individuals can lead to tremendous positive communication. Businesses stay abreast of what customers are saying and promote products Niche topics can be detailed: university happenings, spots Causes can utilize Twitter 555 million users 271 million unique users each month 500 million tweets a day 78% access via mobile devices 40% watch and follow but DO NOT tweet! Vine has 40M users 100M users watch Vine videos/month
I NTRODUCE NEW MEDIA APPROACHES Sponsor radio programming and let hosts discuss film Good and bad Acknowledge plot holes and emotional tone! It’s scary but … Recognize a perfectly reviewed product seems suspect to consumers!
T HE N EW W ORLD O RDER Its all about eye candy! Sex, sizzle and eye catching visuals to enhance the brand A good message can sell anything We decide what is right for the customer Develop products and then disperse them Two way communication vital Product focused – constant communication between departments Always consulting with the customer on what they want and need to refine the product Fail fast, fail forward, fail better Let the customer sell! Past Marketer’s Philosophy Present/Future Marketer’s Philosophy
ESPN AND F ANTASY F OOTBALL Fantasy Football has a tremendous fan base that is interactive on a weekly, if not daily basis. How to take advantage of this trend? Offer podcasts that are affordable and accessible to fans Leverage fan interest to encourage them to do the research and reporting on the various teams across the league Open the podcast to SuperFans and the floodgates open with volunteers! Pluses Save $ on reporters, avoid future competition from bloggers, in-depth analysis for all 32 teams, reach and involvement within communities
W ILL G OOGLE BECOME MEANINGLESS ? Not if they have anything to do with it! BUT During live events and broadcasts more and more individuals rely on Twitter than CNN, Google or radio for updates! Olympic coverage meaningless when broadcast 12 hours after the completion of an event. Sponsorships of Nascar less meaningful when fans check Twitter for the winner and miss the visuals. Streaming video competes with TV broadcasts now as the Internet completes with TV for entertainment and leisure time.
A DVERTISING WITHIN S OCIAL MEDIA The idea that advertising has no place in a promotions mix is untrue. Advertising must complement other forms of promotion and seek to achieve symmetry ! Unobtrusive in nature 76% says ads don’t bother them 40% made purchases after seeing ads on social media Ads tailored to status updates Getting married Ads for honeymoons, dresses, rings appear You graduated from LSU NCAA gear Louisiana souvenirs New Orleans/Mardi Gras deals Tailor offers on the home pages based on tracking of ad responses
F ACEBOOK A DVERTISEMENTS WITH LINKS These are the ads that appeared on my page this afternoon … are these appropria te for my segment of the market ?
S EARCH E NGINE O PTIMIZATION (SEO) Use significant key words in the naming of FB pages You can’t sit on the sidelines Don’t be a John Deere 500 groups 10,000 users in the top 10 groups All developed by the JD community not the company