MKTG1000 Chapter Notes - Chapter 18: Pinterest, Lyst, Yelp
MKTG10 Principles of Marketing
Chapter 18
Main Topics
• What are social media?
- Social media have changed the way that marketers can communicate with their brands – from
mass messages to intimate conversations
- Social media, commonly thought of as digital technology, offer a way for marketers to
communicate one-on-one with consumers and measure the effects of those interactions
- Social media include social networks, microblogs, and media sharing sites, all of which are used by
the majority of adults
- Smartphones and tablet computers have given consumers greater freedom to access social media
on the go, which is likely to increase usage of social media sites
- Many advertising budgets are allocating more money to online marketing, including social media,
mobile marketing, and search marketing
- Marketers must realise that they often do not control the content on social media sites.
Consumers are sharing thoughts, wishes and experiences about brands with the world through
social media
- Due to the level of visibility and discussion, marketers must realise that having a great ad campaign
is not enough – the product or service must be great too
- The ability to share experiences quickly and with such a large number of people amplifies the
impact of word of mouth in ways that a affet a opays otto lie – Katy Perry and Coca-
Cola
- Social media allow marketers to listen – Doios Pizza listeed to hat osues had to say o
social media and changed their product according to the negative comments
- Social media provides more sophisticated methods of measuring how marketers meet and interact
with consumers than traditional advertising does
- Social media allow marketers to have much more direct and meaningful conversations with
customers. Social media offer a form of relationship building that will ultimately bring the
customer and brand closer.
- Consumers of social media want to exchange information, collaborate with others, and have
conversations
• What are the social media objectives?
- Listen and Learn
▪ Monitor what is being said about the brand and competitors and glean insights about
audiences.
▪ Use online tools and do research to implement the best social media practices.
▪ If you have established a listening strategy, this objective should already be
accomplished.
- Build relationships and awareness
▪ Open dialogues with stakeholders by giving them compelling content across a variety of
media.
▪ Egage i oesatios, ad ase ustoes uestios adidly
▪ This will both increase web traffic and boost your search engine ranking
▪ This is where crowdsourcing can be useful for product development and communication
campaign feedback
- Promote products and services
▪ The clearest path to increasing the bottom line using social media is to get customers
talking about products and services, which ultimately translate into sales
- Manage your reputation
▪ Deelop ad ipoe the ads eputatio y espodig to oets ad itiis
that appear on blogs and forums
▪ Additionally, organisations can position themselves as helpful and benevolent by
participating in other forums and discussions
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