Social Media Marketing

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    Social Media Marketing - Presentation Transcript

    1. Social Media Marketing Jacob Orquin PhD researcher Aarhus School of Business
    2. Social media marketing thematic overview 1. Background knowledge 2. Social media strategies 3. Methods and processes 4. Measuring social media 5. The Quorn case
    3. Key takeaways  Forget about control, you can only hope to influence social media.  Never mind the buzz: social media must meet the same requirements as other marketing activities.  Remember that there is (still) lacking consesus on social media phenomena  Little or no research on social media  Still no stable methods in social media marketing
    4. Background knowledge understanding social media phenomena 1. Network economy 2. Social interaction and social roles 3. Social feedback cycle 4. Social media categories
    5. Network economy What positive network effects could your company benefit from?
    6. Social interaction Drivers of social interaction on the web:  Maintain friendships  Meet new friends and build new relations  Social pressure from peer group  Altruism and sharing  Creativity and playfulness  Validation and expertise  Economic incentives Why would you participate in a social media?
    7. Social roles Who would you want to activate through social media marketing?  Salesmen  Mavens  Connectors
    8. Social feedback cycle The social feedback cycle adds an extra dimension to exsisting consumer purchase models like AIDA
    9. Social feedback cycle Decision making influenced by social media cyclus by Constantinides and Fountain (2008).
    10. Social media categories There is still no strong consensus on the categorization of social media
    11. Social media strategies putting social media to work 1. Listening 2. Talking 3. Engaging/energizing 4. Supporting 5. Innovation
    12. Listening through social media  What does you brand mean to your customers?  Understand how the talk changes  Save analysis resources while increasing insights  Identify the sources of influence  Manage PR crises  Generate new product ideas
    13. Talking through social media  Viral marketing  Involvement in social networks  Corporate blogging  Create a community Nokia viral video Procter & Gamble’s beinggirl.dk Microsoft employee blog
    14. Engage and energize through social media Do you have loyal or enthusiastic customers that would endorse your brand?  Reviews and communities How can you create value for your customers that enhances product experience?  Social networks end platforms Telmore to Telmore Trustpilot company application Roskilde Festival camp reviews and ratings planner application
    15. Small difference - huge effect One of these facebook applications outperformed the other more than 10 times. Can you guess which one and why do you think so?
    16. Supporting through social media Help customers help themselves; create a unique value proposition and lower support costs simultaneously. Lundbeck Pharma’s ican.co.uk is meant to support and assist patients suffering from depression
    17. Innovation through social media My Starbucks Idea community Lego Mindstorms community
    18. Methods and processes managing social media marketing 1. Forrester’s POST model 2. Dave Evans’ approach 3. DMAIC and KPI anchoring
    19. Forrester’s POST model people Who are they and what are your customers ready for? objectives What objectives should you aim at? strategy How will you acomplish your goals? technology What apllications should you use? The Forrester model is strong on identifying possible strategies but weak with regards to intelligence and measurement
    20. Dave Evans’ approach Simple overview: I. Analysis of social feedback cycle, touchpoint mapping, Net Promoter Score II. Mapping of social media channels III. Identify business goals, KPI’s and ROI for social media campaigns IV. Write the social media marketing plan Evans’ model is strong on gathering intelligence but weak with regards to implementing strategies.
    21. Six sigma - DMAIC 6σ is too focused on quality control but is strong on anchoring KPI’s to the marketing process. Could we integrate this in social media marketing?
    22. Measuring social media measuring social media marketing 1. Measuring content 2. Measuring relevance 3. Measuring impact 4. ROI on social media marketing
    23. Measuring social media What and where to measure? 1. Social media monitoring (content) 2. Web analytics (relevance) 3. Pipeline metrics (impact)
    24. Measuring content What are they talking about and how much are they talking? Social media monitoring: Buzzmetrics, Cymphony, Google blogsearch, Blogpulse.com Facebook Lexicon Blogpulse.com Google blogsearch
    25. Measuring relevance Do social media activities lead to any increase in interest or user engagement on corporate web site or in search activity? Google analytics Google insights
    26. Measuring impact Do the increased interest and engagement generate sales leads or increased turnover? Focus on conversion rate and average sales value.
    27. ROI on social media marketing 42 % - 100 % ROI during first year, perhaps you should invest in stock options instead?
    28. The Quorn Case using the POST method 1. People 2. Objectives 3. Strategy 4. Technology
    29. The Quorn case Following the POST method: People: who are they? Objectives: should we listen or talk to them? Strategy: how do we reach our goals? Technology: what applications should we use? Meat free frozen foods introduced in the British market in 1985, US market 2002
    30. POST - People Social technology profile forrester.com/Groundswell/profile_tool.html
    31. POST - People
    32. POST - People Yes they are already out there discussing your products whether you like it or not! A positive discussion of A group who thinks that Quorn on Facebook Quorn is an evil nazi product A group who wants to A positive discussion on make Quorn vegan a Danish vegetarian forum
    33. POST - Objectives What would be interesting and and the same time feasible for Quorn?
    34. POST - Strategy How should we engage our customers and how should this relationship develop over time? 1. Start small but think big 2. Engage and include the managers
    35. POST - Technology What applications do we want to use? Where are the customers and how do we want to reach them?
    36. Contact Feel free to contact me: M: +45 2217 8621 T: +45 8648 6884 F: +45 8615 3988 E: jalo@asb.dk W: www.asb.dk/staff/jalo Contact me on www.linkedin.com/in/orquin

    + Aarhus School of BusinessAarhus School of Business, 2 months ago

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