Social media is now a major force in today’s society with people of all ages, backgrounds and social groups. Fuchs (2014) explains that now more than ever we need to understand social media and the impact it is having on our lives and how it is such a useful marketing tool if used effectively. Fuchs 2014 book explains that people need crucial knowledge to help us navigate throughout the complex digital media landscape that is now present. This applies also to businesses, especially small businesses, as reputation is a crucial part of business enterprise risk management (Arnold, 2006). A business’ success is based on its reputation by many consumers and is measured by how much it is trusted by consumers, stakeholders and employees. When consumers hear good things about a business they are develop brand trust even before actually experiencing the businesses service. With the introduction of social media such as ‘Twitter’ consumers are able to voice their opinions on companies and brands more openly. Negative reviews on social media towards large businesses/brands are often ignored and disregarded compared to comments regarding smaller business/brands that is not so prominent in the public arena. The effect of a bad reviews/complaints broadcast on social media regarding small business can have highly detrimental effects.
Personal recommendations is an extremely important marketing tool that has the potential to significantly increase the revenue of companies but also has the ability to negatively effect a company’s revenue. However, with the rapid increase in use of the Internet and social media, negative publicity is spread very differently from ‘word-of-mouth’. Consumers are now more than likely maybe even expected to voice their opinions online with big companies notably Tesco and ASOS having twitter accounts to enable unhappy customers to scan for a deal.
Source: The importance of good management of the effects of social media’s on the reputation of small businesses | Digital Marketing Blog
Today, hashtags are used in almost all other social media platforms, such as Facebook, Instagram, Pinterest, and LinkedIn. Hashtags are widely used to define a shared context for specific events, topics, or meme (Ma et al, 2012). On most social media websites, a hashtag is translated into a clickable link that enables an easy search of tweets using the same hashtag (Suh et al, 2010). On Twitter, a frequently used hashtag amongst a large portion of its’ users could appear on the ‘trending topics’ sidebar on their website, which promotes a topic or term to an audience which extends far beyond the follower list of the person who used the hashtag. Landing on the ‘trending topics’ list is perceived as having influence or holding a status (Page, 2012).
Beyond being a bookmark for content, the hashtag serves as theScreen Shot 2016-04-05 at 11.19.51 symbol of a community (Yang et al, 2012). This virtual community is defined through the hashtag of users with the same background, the same interest, or involved in the same conversation or task.
Source: The Language of Social Media: The Power of The Hashtag | eren gencler
First, we have to understand the purpose of the program. What are we trying to achieve? What are we trying gain? If we don’t know this then we are potentially throwing money at something with no guaranteed return. Nunes & Drèze (2006a) give five core strategic drivers for the use of loyalty programs.
Encouraging additional purchases. Goods and services where consumption is flexible can be increased easily. Valued rewards, such as buy 4 get the 5th free, can lead to accelerated purchases by consumers and in turn increased overall consumption levels.
Collection of customer data and consumer behaviour insights. The greater the amount of information held about a customer the more effectively and personally they can be targeted.
Gain greater customer share.Encouraging customers to consolidate more purchases with a specific company rather than multiple ones.
Reduce churn rate. Preventing customers from defecting to other companies by providing something others cannot offer. In other words, locking them in.
Generate a profit. Besides revenues being boosted through additional sales, reward points can be sold on to other business to use as rewards for their own customers.
Source: What is the key for successful loyalty programs? | Chris’s Digital Marketing Blog
How Phones have evolved with Marketing…Mise en scène; Imagine you are in town waiting for a bus. It’s evening time, so of course the bus stop is packed out with dreary commuters trying to return home. There are a vast number of differences between each of them, for example, attire career, salary, home, family etc. But the majority of the time, they do share a common trait. They are preoccupied. Sure they may glance up occasionally to check how long they will be idle for, but the majority of the time they will be on their mobile phone or tablet.There is no doubt mobile phones have revolutionised the fabric of our society, for the better, right? Surely the main purpose of the mobile phone is to help individuals and better society? (Insert iRobot reference) Perhaps not, especially in the eyes of the older generation. This post is essentially delving down into how and why society has become addicted to looking down. Are phones the proverbial wolf in sheep’s clothing as Tenner (1997) believed, And how are businesses cashing in on this?
Source: Game of Phones | Digital Marketing blog
The level at which you utilize your networks can decide how your customers interact with you. Passive use see’s Facebook pages left like brochures for customers to read at leisure or never. Somera (2014) found that 70% of corporate Facebook’s actively AFFINITY-PERSONAL-INTERACTIONrespond to their customer comments, increasing their interactivity, rather than just having regular posts. This social platform makes it easier for customers to communicate with the company, as well as with each other, beyond a transnational level. It’s up to you though, to create an algorithm that suits your brand image in order to reach your audience once you’ve gained them. According to Casas (2014), a whopping 96% of your page ‘likers’ don’t return after the initial engagement. This means that you need to get your posts into their news feeds. The more engagement you can get with your customers, the more your post’s will be prioritized on their feed. Creating the community interface style with your online presence is one way of building an active relationship with your customers and working your way into their daily feed.
Source: Creating Community in a Digital World | Laura Emily Katharine Maclean