digital natives
young people who have grown up using the internet and social networking
social media
the online means of communication, conveyance, collaboration, and cultivation among interconnected and interdependent networks of people, communities, and organizations enhanced by technological capabilities and mobility
5th P of Social Media marketing
Participation
culture of participation
a belief in democracy: the ability in democracy: the ability to freely interact with other people, companies and organizations; open access to venues that allows users to share content from simple comments to reviews, ratings, photos, stories, and more; a
Social Media Marketing
the utilization of social media technologies, channels, and software to create, communicate, deliver, and exchange offerings that have value for an organization
Traditional Marketing
mass media, push orientation, outbound messaging, attention gained via orientation
examples of traditional marketing
broadcast, print, radio, outdoor
Social Media Marketing
niche online media, attraction orientation (pull), attention gained via interactivity, dialogue, participation, sharing
examples of social media marketing
Networks, communities, blogs, microblogs
Market Segmentation
the process of dividing a market into distinct groups that have common needs and characteristics
segmentation categories
geographic, demographic, psychographic, benefit, behavioral
geographic segmentation
the grouping of consumers on the basis of where they live
ex: region, country, state, city
demographic segmentation
segmenting markets by age, gender, income, ethnic background, and family life cycle
psychographic segmentation
dividing a market into different segments based on social class, lifestyle, or personality characteristics
benefit segmentation
the process of grouping customers into market segments according to the benefits they seek from the product
Behavioral Segmentation
A segmentation method that divides customers into groups based on how they use the product or service. Some common behavioral measures include occasion and loyalty.
social currency
the extent to which people share the brand or information about the brand as part of their everyday social lives at work or at home
social identity
the way we represent ourselves via text, images, sounds, and video to others who access the Web
What makes up your social identity?
your handle, your profile pic, your posts, groups and pages you like or share
social footprint
Zone 1: social community (snapchat, FB personal page, FB hunting page)
Zone 2: Social Publishing ( website, blog, twitter, Instagram)
Zone 3: Social
Entertainment (TriviaCrack, Pinterest)
Zone 4: Social Commerce (ratings and reviews)
Buyer Persona
a semi-fictional representation of your ideal customer based on market research and real data about your existing customers.
social networking site
these are the websites and apps that connect people sharing personal or professional interests through profiles, groups, posts, and updates
social influencers
opinion leaders with strong communication networks that others view as knowledgeable sources of information
Characteristics of social media influencers
activists, connected, impact, active minds, trendsetters
social capital
when people form community relationship, these affiliations allow them to accumulate resources that they can "trade" for other things. We call these resources social capital because their value lies in providing access to others
Example and value of social capital
Youtube influencer posted a video of a UPS guy asking for donations to help his sister. In 40 minutes, they raised $19k
Crowdsourcing
the dynamic social media process of employing users to participate in product design or product redesign
ex: oreo/Lays potato chips
Meme
viral piece of information that enters the general consciousness of the community and is adapted by the community members
word of mouth/social marketing
Communication through networks of social interaction, using relationships to influence brand position and purchase behavior, not exclusively digital
attention-seeker
High creation, Low consumption
ex: celebrity endorsers
Devotees
High creation, high consumption
ex: brand ambassadors
Entertainment chasers
low creation, low consumption
ex: contest, quizzes, advergaming
Connection seekers
low creation, high consumption
ex: groups, events
Algorithm
complex mathematical formulas to personalize the content you see in your news feed, recommend friend connections and more
Monetization strategy
how a business earns revenue
GPS technology
A satellite system that provides real-time location and time information