Performance Measures Brand Managers & Rate of Interaction Essay

Question Description

After reading chapter 16, post your response to the following question:

You are the brand manager in a company. Describe 5 of the 10 performance measures brand managers typically use to assess outputs or revenues of social media.

After reading the content in chapter 18, please review the following question and post your response:

How would you explain the four ways the marketspace creates value for consumers.

Using Social Media and Mobile Marketing to Connect With Consumers ! ! ! THE ULTIMATE MARKETING MACHINE… IS IN YOUR POCKET! • 182 Million People Use Their Phones to Access Apps and Social Media • Most Popular Smartphone Apps: Facebook, YouTube, Facebook Messenger, Google Search • Mobile Advertising Is $100 Billion Annually ©McGraw-Hill Education. ! UNDERSTANDING SOCIAL MEDIA WHAT ARE SOCIAL MEDIA? (1 of 2) • Social Media – Social Network – Conversation • How Social Media Came About – Web 2.0 – Blog – User Generated Content (UGC) ©McGraw-Hill Education. ! UNDERSTANDING SOCIAL MEDIA WHAT ARE SOCIAL MEDIA? (2 of 2) • Classifying Social Media – Media Richness • Acoustic, Visual, Personal Contact – Self-Disclosure • Achieve Favorable Image • Greater Self-Disclosure Likely to Increase Influence ©McGraw-Hill Education. FIGURE 16-1 Social media classified by media richness and self-disclosure Jump to Appendix 1 long image description ©McGraw-Hill Education. ! UNDERSTANDING SOCIAL MEDIA COMPARING SOCIAL AND TRADITIONAL MEDIA • Ability to Reach Both Large and Niche Audiences • Expense and Access

• Training and Number of People Involved • Time to Delivery • Permanence ©McGraw-Hill Education. FIGURE 16-2 How brand managers can use four social networks to develop marketing actions. Jump to Appendix 2 long image description ©McGraw-Hill Education. ! FOUR IMPORTANT SOCIAL NETWORKS TWITTER • Twitter • Twitter in a Brand Manager’s Strategy – Connect in Real Time – Generate Brand Buzz – Follow the Twitter Profiles Carmex Twitter Website ©McGraw-Hill Education. ! FOUR IMPORTANT SOCIAL NETWORKS LINKEDIN (1 of 2) • LinkedIn • LinkedIn in a Brand Manager’s Strategy – Building B2B Image – Networking with Industry-Related Groups – Identifying Sales Leads and Locating Vendors – Direct Advertising at Specific Companies and People LinkedIn Website ©McGraw-Hill Education. ! FOUR IMPORTANT SOCIAL NETWORKS YOUTUBE • YouTube • YouTube in a Brand Manager’s Strategy – Exploit Visual Aspects of Your Message – Create a Brand Channel with Key Words – Use YouTube Analytics to Target Viewers ©McGraw-Hill Education. ! MARKETING MATTERS Mobile Marketing Discovers Video Bloggers!

• 50% of YouTube Views are on Mobile Devices • Viewers are Twice as Engaged vs. TV • Viewers More Likely to: 1. Change Opinions About Brands 2. Discuss Brand with Others 3. Visit Store Carrying Brand 4. Make a Purchase ©McGraw-Hill Education. Ultimate Handyman ! INTEGRATING SOCIAL MEDIA INTO TODAY’S MARKETING STRATEGIES SOCIAL MEDIA AND THE STRATEGIC MARKETING PROCESS • Traditional Media – Passive Receivers • Social Media – Active Receivers – Influentials – Delighted – Evangelists ©McGraw-Hill Education. ! INTEGRATING SOCIAL MEDIA INTO TODAY’S MARKETING STRATEGIES MEASURING THE RESULTS OF SOCIAL MEDIA (1 of 3) • Performance Measures Linked to Inputs or Costs – Cost per Action (CPA) – fee per purchase from ad on your site – Cost per Thousand (CPM) – fee per every 1000 times the add loads – Cost per Click (CPC) – fee per visitor who clicks on ad ©McGraw-Hill Education. ! INTEGRATING SOCIAL MEDIA INTO TODAY’S MARKETING STRATEGIES MEASURING THE RESULTS OF SOCIAL MEDIA (2 of 3)

• Performance Measures Linked to Outputs or Revenues – Users/Members – Fans – Page Views – Visitors – Average Page Views/Visitors – Interaction Rate – interacted with the post/#of people seeing the post – Click-Through Rate – % of viewers who click on a link on the page ©McGraw-Hill Education. ! THE FUTURE: SOCIAL MEDIA + SMARTPHONES + EXOTIC APPS THE CONVERGENCE OF REAL AND DIGITAL WORLDS • Smartphones • Big Data and Data Analytics • Apps ©McGraw-Hill Education. ! THE FUTURE: SOCIAL MEDIA + SMARTPHONES + EXOTIC APPS MOBILE MARKETING: TIGHTENING LINKS TO ACTIONS • Price-Comparison Searches – Scan Bar Codes or QR Codes • Location-Based Promotions – GPS Enables Location Check-In

• Loyalty Programs – Win Loyalty Points for Walking into Stores ©McGraw-Hill Education. IN-CLASS ACTIVITY 16-1 ! WHAT ARE THE MOST POPULAR FACEBOOK BRANDS? ©McGraw-Hill Education. Implementing Interactive and Multichannel Marketing ! ! ! CREATING CUSTOMER VALUE, RELATIONSHIPS, AND EXPERIENCES IN MARKETSPACE MARKETING IN TWO ENVIRONMENTS • Marketplace • Marketspace: 90% of U.S. Internet Users Aged 15+ Shop Online – Time Utility – Possession Utility – Form Utility ©McGraw-Hill Education. ! CREATING CUSTOMER VALUE, RELATIONSHIPS, AND EXPERIENCES IN MARKETSPACE • Possibilities for Customer Value Creation Are Greatest in Digital Marketspace. Why? – Place and Time Utility • Example: REI: 35% of Orders Placed 10:00 p.m.–7:00 a.m. – Possession Utility Is Accelerated – Form Utility–Communication Between Customers and Marketers; Customization ©McGraw-Hill Education. ! CREATING CUSTOMER VALUE, RELATIONSHIPS, AND EXPERIENCES IN MARKETSPACE INTERACTIVITY AND INDIVIDUALITY IN MARKETSPACE (1 of 2)

• Interactivity with Customers • Individuality–Unique Customers • Interactive Marketing • Choiceboard – Collaborative Filtering ©McGraw-Hill Education. My M&Ms ! CREATING CUSTOMER VALUE, RELATIONSHIPS, AND EXPERIENCES IN MARKETSPACE INTERACTIVITY AND INDIVIDUALITY IN MARKETSPACE (2 of 2) • Personalization – Consumer Initiated • Permission Marketing – Consumer Consent • Opt-In • Opt-Out ©McGraw-Hill Education. Reebok Design Your Own FIGURE 18-1 Seven website design elements that drive customer experience. Jump to Appendix 1 long image description ©McGraw-Hill Education. ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE WHO IS THE ONLINE CONSUMER? ! • Online Consumers • Internet Users Likely to Purchase: • • • • ©McGraw-Hill Education. Equally Female and Male Younger More Affluent 20% Account for 69% Online Sales ! MARKETING INSIGHTS ABOUT ME Am I Addicted to the Internet? Answer 20 Questions to Find Out Internet Addiction Survey ©McGraw-Hill Education.

• Symptoms of Internet Shopping Addiction— Examples: – Too Much Time Shopping Online – Unable to Resist Shopping Online – Financial Problems – Negative Impact on Your Life ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE WHAT ONLINE CONSUMERS BUY ! • • • • • • ©McGraw-Hill Education. Product Information Audio/Video Demos Digital Items Unique Items Convenience Items Standardized Items FIGURE 18-2 Six product categories account for about 70% of online retail sales today—a trend projected to continue in the future. Jump to Appendix 4 long image description ©McGraw-Hill Education. FIGURE 18-3 Why do consumers shop and buy online? 6 C’s – 8-second rule ©McGraw-Hill Education. ! ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE WHY CONSUMERS SHOP AND BUY ONLINE (1 of 5) • Convenience – Bots – Eight-Second Rule

• Choice – Offering Selection – Choice Assistance ©McGraw-Hill Education. ! ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE WHY CONSUMERS SHOP AND BUY ONLINE (2 of 5) • Customization – Customerization • Communication – Marketer-to-Consumer E-mails – Consumer-to-Marketer Requests – Chat Rooms, Messaging, Social Networks ©McGraw-Hill Education. ! ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE WHY CONSUMERS SHOP AND BUY ONLINE (3 of 5) • Communication – Web Communities – Blog – Spam – CAN-SPAM Act ©McGraw-Hill Education. ! ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE WHY CONSUMERS SHOP AND BUY ONLINE (4 of 5) • Communication – Buzz – Viral Marketing • Embed a Message • Create Compelling Content • Offer Incentives ©McGraw-Hill Education. ! ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE WHY CONSUMERS SHOP AND BUY ONLINE (5 of 5)

• Cost – Showrooming – Dynamic Pricing • Control – Cookies ©McGraw-Hill Education. ! ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE WHEN AND WHERE ONLINE CONSUMERS SHOP AND BUY • Shopping and Buying: Online vs. Stores • Online: Monday-Friday 80% Of Sales • Online: Busiest Day is Wednesday • Stores: 35% of Sales on Weekend • Stores: Busiest Day is Saturday ©McGraw-Hill Education. ! CROSS-CHANNEL CONSUMERS AND MULTICHANNEL MARKETING WHO IS THE CROSS-CHANNEL CONSUMER? • Cross-Channel Consumer – Shops Online–Buys Offline – Shops Offline–Buys Online • Showrooming: Shops in Stores but Buys Online • Webrooming: Shops Online but Buys in Stores ©McGraw-Hill Education. FIGURE 18-5 Implementing multichannel marketing with promotional websites. Jump to Appendix 6 long image description ©McGraw-Hill Education.

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