DMSM

DMSM

1. Definitions

   • Marketing of products or services using digital technology, like the internet, smartphones and other emerging devices. In order to increase efficiency the industry is moving from prescriptive models to predictive models (more creative) Social Media is websites and applications that enable users to create and share content or to participate in networking activities. It is a means of communication, conveyance, collaboration and cultivation among networks SMM is a process of how businesses use social media channels to understand and engage with customers and potential customers in a way that leads to the achievement of ultimate marketing and business goalsl (Zahay 2015) Internet of Things (IoT)
   • Terminology
     • Big Data Content Marketing Communities (niche) Conversation rate optimisation (CRO) Internet of Things (technology used for marketing applications) Marketing Automation (CRM, email marketing, web personalisation) Paid Search Marketing (Google AdWords) Search Engine Optimisation
   • Types of Social Media
     • Social Community: sharing, socialisation, conversing Social Publishing: editorial, commercial, user-generated Social Entertainment: Games, Music, Art Social Commerce: CRM/Service, Retailing/Sales, Human Resources
   • Characteristics
     • Social Networks are the foundation of social media, based on the participation of community members. Differing Dimensions: 1. Audience and Degree of Specialisation: social searchers (investigate offline connection) vs. Social browsers (find to connect online) 2. The objects that mediate the relationship between members: common interests or characteristics  3. Degree of centralisation or openness: social lock in (unable to transfer social networks or connections to a different site) or identity portability (single profile can be shared across sites)

2. Digital Landscape

   • Peoples online behaviours shape their digital identities, individuals show different behaviour in different contexts, which may be described as digital personae
   • Digital Persona
     • Individuals may show different patterns of behaviour in different contexts. A digital person represents your brand as though it were a person: it reflects your style, attitude and personality (different to mission, vision and values, messaging and positioning) The above can inform your persona but it should be more of an overview letting everyone understand the personality and character you strive to project
     • Steps for Creation
       • To Create a Digital Persona: 1. Create an overview 2. Define your values 3. Define your voice 4. Define your communication channels

3. Trends

   • Content Marketing Big Data Marketing Automation Mobile Marketing Social Media Marketing Artificial Intelligence and Machine Learning CRO (Conversation rate optimisation for improving website experience Chatbots dominate customer service Facebook usership is going down while Instagram is rising Personalisation of Email Marketing Omnichannel marketing is now vital
   • Omnichannel vs. Multichannel
     • Multichannel marketing separates each channel as unique with little interaction between the two e.g. physical stores vs. online store Omnichannel joins touch points  so that the customer experience is consistent and unified
     • Digital Silos
       • Integrated part of marketing strategy
   • Push vs. Pull Marketing
     • Push marketing: promote products to persuade customers to purchase (push product to consumers) Pull marketing: establish a loyal following and draw consumers to the product (pull consumers to product)
   • Business Intelligence
     • 1. by 2020, information will be used to reinvent, digitise or eliminate 80% of business processes and products from a decade earlier 2. by 2017, more than 20% of enterprise access to broadly based Big Data will be via intermediary data broker services, serving context for business decisions. 3. by 2017, more than 20% of customer-facing analytics deployments will provide product tracking information leveraging the IoT

4. Channels

   • Search Engine: users typically click on the top 3 options Recommendation Agents: reducing decision burden by recommending products that other users bought with the product you are looking at or similar products Comparison Matrixes: software employed by the website that compares the prices of products Social Media: source of creativity for the consumer, detailed reviews/ratings Market Intelligence: use of consumer opinions/discussions across different platforms Email: database

5. Analytics

   • Social media analytics can be used to extract value from networks by extracting, analysing and interpreting personal and professional social networks e.g. network structure and influential people in the network
   • Actions Analytics
     • Deals with extracting, analysing, and interrupting actions performed by SM users including likes, dislikes, shares, mentions, endorsement etc. for engagement tracking, campaign performance analysis, and understanding brand popularity
   • Text Analytics
     • Deals with extracting, and analysis of business insights from textual elements of social media content such as comments, tweets, blog posts and Facebook status updates. Insights include: sentiment mining (social listening and sentiment analysis) intention mining (e.g. buy, sell, recommend, quit) Topic and idea mining (in-depth analysis to find opinions and topics of discussion) Trend mining (predictive analysis to identify patterns/trends for product development)

6. SMM

   • Social Media Matrix
     • Zhu and ChenCustomised Message:Relationship (profile based): users can connect, reconnect, communicate and build relationships e.g. FacebookCollaboration (Content Based): users can collaboratively find answers, advice and help e,g. RedditBroadcast Message:Self-Media (profile based): users can broadcast updated and others can follow e.g. TwitterCreative Outlet (content Based): users can share their interest, creativity/hobbies with others e.g. Pinterest Zhu and ChenCustomised Message:Relationship (profile based): users can connect, reconnect, communicate and build relationships e.g. FacebookCollaboration (Content Based): users can collaboratively find answers, advice and help e,g. RedditBroadcast Message:Self-Media (profile based): users can broadcast updated and others can follow e.g. TwitterCreative Outlet (content Based): users can share their interest, creativity/hobbies with others e.g. Pinterest
   • What does SMM give Consumers
     • 1. Co-create brands and experiences 2. establish social networks 3. express themselves digitally 4. share creations & expressions with their social networs
   • Difference to other marketing channels
     • global reach precise targeting ability cheap/free price varying communication modes interactive user generated or owner generated content customisation is possible mass collaboration is easy

7. Content Marketing

   • Marketing technique of creating and distributing valuable, relevant and consistent content to attract and acquire a clearly defined audience, with the objective of driving customer action. The strategy is used to create interest, relevance and relationships with consumers Authenticity, tension and engagement are vital. Content Marketing helps to support and shorten the buying process
   • Types of Content
     • Licensed: sources from publishers original: custom content user-generate: sourced from brand lovers
   • Strategy
     • Audience: invest time to understand the information needs of your audience Content Theme: relevant content sticks Voice and Tone: the personality of your content will depend on things like culture and industry Content format: the mix of content that will add texture and variety to your strategy e.g. photo, video Channels: your digital channels provide the platform for your content strategy and hold it together
   • Metrics to Measure Effectiveness
     • 1. Awareness: Ranking in search engine results pages (SERPs), number of first time website visitors, social media metrics 2. consideration: total page views, site visit durations, bounce rates, social metrics 3. conversion: increase conversation rates as measured by sales or leads, which content sources contribute to the conversion funnel, SM referrals, subscriber vs. non-subscriber behaviour

8. Measurement Properties od Data

   • Nominal Level: data that cannot be arranges in any particular order/sorted e.g. type of post, yes/no Ordinal Level: data in which ranking is implied (can be sorted) e.g. date message was posted, number of likes. Interval Level: ordered scale in which the difference between measurements is a meaningful quantity (does not have a true zero point) e.g. size Ratio Level: differences and ratios are meaningful (zero is significant) e.g. ratio of comments or likes on a post
   • Techniques for Insight
     • 1. Pivot Table: used to summarise, sort/organise, count, total or average data into a table. (useful for qualitative data) 2. Pie Chart: used to show percentages of proportional data (good for displaying nominal/ordinal data) 3. Line Chart: visualises the value of data over some time (useful for quantitative data)
   • Data Description
     • Mean: average of all values Median: middle value Mode: most frequently occurring value

9. Consumer Buying Process

   • Problem Recognition: banner advertisements Search: online, SEO can be helpful. Levels of online search: searching across the internet, searching within a site, searching on a particular page Alternative Evaluation: comparison of products, evaluate product Purchase Behaviour: online or in-store, stop shopping cart abandonment e.g. Wish list Post Purchase Evaluation: leave reviews online, prevent gaps between consumer expectation and actual performance

10. Digital Strategy

    • Development
      • Situation Analysis: SWOT, Micro (customers, competitors, marketplace)/Macro (PESTL) Environment Analysis, 5S's Objectives: where do we want to be? vision for channels, content, setting objectives Strategy: how do we get there? roadmap and long term planning, OVP, integration and tools Tactics: details on how to get there, marketing mix, communications mix, social networks, campaign schedule. Goal setting and tracking of interactive marketing communications, campaign insight, campaign targeting strategy, budgeting and selecting the digital marketing mix Action: what is the plan Control: review and analyse
      • 5 S's
        • Sell - customer acquisition and retention targets Serve: customer satisfaction targets Sizzle: site stickiness, visit duration Speak: communication, number of engaged customers Save: quantified effiency gains
    • IMC
      • Integrated Marketing Communications: integrated and coordinated communication channels to deliver a clear, consistent message about the organisation and its products (Kotler et al. 2001)
      • 4Cs
        • Coherence Consistency Continuity Complementary

11. Data

    • Big Data
      • When the volume, velocity, variability, and variety of data exceed an organisations storage, or compute capacity for accurate and timely decision making the act of collecting large data sets from traditional and digital sources to identify trends and patterns. 2.5 quintillion bytes of data added every single day, the big data challenge is more than just managing volumes of data, it is about making sense of the data and using it usefully Big data adoption in enterprises reached 59% in 2018, up from just 17% in 2015
      • 5 Vs
        • volume: scale of data variety: different forms velocity: analysis of streaming data veracity: uncertainty of data viability: relevance and feasibility = value
      • Limitations
        • Big data cannot answer why, reveal emotions, attitudes or theoretical intentions, or evaluate products not launched. Data can be dangerous if used incorrectly. whenever humans are involved, errors can be introduced (data collection, analysis set-up, interpretation) use of multiple data sets and discrepancies in numbers
      • Analytics
        • the process of discovering, interpreting and communicating significant patterns in data and using tools that empower an organisation to ask any question of data in any environment on any device
        • Value
          • real time response uncover new opportunities data visualisation
        • Tools
          • Web Analytics Data: page views, visits, new vs. returning visitors, demographics, browser/operating system, traffic source, goal conversion, funnel conversion Social Analytics: Key Metrics: reach, engagement, impressions, visits, CTR, sales, followers, mentions, SOV Platforms: Facebook Insights (audience demographics, engagement rates, likes, monitoring of wore metrics of each paid campaign individually) SEO analytics User experience Tag management
        • Predictive Analytics
          • make predictions about the future through data mining, machine learning, statistical modelling to forecast. 1. emphasis on prediction 2. rapid analysis measure in hours/days 3. emphasis on business relevance resulting insights 4. emphasis on ease of use
        • Customer Experience Analytics
          • systematic discovery, collection and analysis of customer data to gain intelligent insights from smarter decision making. poor feedback processes, wrong technology, disjointed systems, or operational inefficiency often hold companies back from gaining real insights

12. Social Media Zones

    • Social Entertainment
      • Digital and social forms of media that are addressed by the entertainment industry. e.g. Social TV (The Voice), Social Music (spotify), Social Gaming (PC, console or portable)
      • Marketing Opportunities
        • Paid Media (buying advertising space) In-Game advertising: product placement script placement display ads (static and dynamic) Owned media e.g. Advergames
    • Social Commerce
      • Subset of e-commerce. Uses social media applications to enable online shoppers to interact and collaborate during the shopping experience. e.g. buyer communities, group buying, purchase sharing, curation, social advice, co-shopping, Mobile commerce
      • Instagram Marketing
        • Instagram has transformed from an image sharing app into a transactional platform. Instagram shopping lets retailers tag items featured in their posts to indicate that they are available for purchase
    • Social Community
    • Social Publishing