12 IC - Social Media \u25cf Any tool or service that uses the internet to facilitate conversations \u25cf Social networks \u25cf Blogs \u25cf Microblogs \u25cf Media

12 IC - Social Media ● Any tool or service that uses the...

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Social Media Any tool or service that uses the internet to facilitate conversations Social networks Blogs Microblogs Media sharing sites Social Media and Consumers Social media consumers want to Exchange information Collaborate with others Have conversations Marketers must decide if engaging in those conversations will be profitable and to find the most effective method of entering the conversation Social Commerce A subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling of products and services Social commerce sites Include rating and recommendations Help consumers make more informed decisions Social Media and Integrated Marketing Communications Allows marketers to Have conversations with consumers Forge deeper relationships Build brand loyalty Allows consumers to Connect with each other Share opinions Collaborate on new ideas according to interests Crowdsourcing Using consumers to develop and market product Categorizing Media Types Owned media: brand’s presence on social platforms Earned media: word of mouth or online buzz about a brand Paid media: use of traditional media The Listening System The first action a marketing team should take when initiating a social media campaign is simply to listen Social media monitoring
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