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Digital marketing: Uses digital media to develop communications and exchanges with customers Electronic media (E-marketing): Refers to the strategic process of distributing, promoting, pricing products, and discovering the desires of customers using digital media and digital marketing Allow marketers to It is important to Can be an essential part of gaining a competitive advantage Forge interactive relationships with consumers Reach new markets Target markets more precisely Use multiple digital media in marketing strategies Be aware of rapid changes in technology The most important benefit is the ability to share information Between marketers and consumers Among employees With suppliers E-marketing is increasingly common across all industries Most marketers utilize e-marketing What examples of digital marketing have you come across lately? Digital marketing differs from traditional marketing in five key ways 1. 2. 3. 4. 5. Addressability Interactivity Accessibility Connectivity Control The ability of a marketer to identify customers before they make a purchase Social network: Web-based meeting place that allows users to create a profile and connect with other users for many different purposes Addressability facilitates relationship marketing by enabling customer engagement to create product innovation Allows customers to express their needs and wants directly to the firm in response to marketing communications Contrasts with the one-way communications of traditional marketing media Many digital media allow for ongoing, realtime conversations between marketers and consumers The ability to obtain digital information on competing products, prices, reviews, and details on firms Mobile marketing allows marketers to offer promotions and incentives via customers’ mobile devices The use of digital networks to provide linkages between information providers and users Online social networking sites improve connectivity by providing large, diverse audiences Consumers’ ability to regulate the information they view and the rate and sequence of their exposure The Internet is a pull medium because users control what information they view More power is in the hands of consumers Sports Illustrated was once only a magazine–it now offers services and features on digital media How do digital media help companies stay competitive? Consumers increasingly tend to publish their thoughts, opinions, reviews, and product discussions on blogs or digital media More interactive than traditional marketing media Consumers trust other consumers over corporations They rely on the recommendations of family, friends, and fellow consumers when making purchases Most consumers have visited online social networking sites There are many different sites, and the number is growing Facebook LinkedIn Twitter The most popular social networking site Appeals to a broad demographic Encourages consumer interaction with companies and products Good resource for marketers Low-cost advertising Reaches new markets A hybrid social networking and microblogging site Companies announce sales, promotions, and product updates via tweets Can help (re)build customer relationships A social network for professionals A profile resembles a résumé Facilitates professional networking, job searches, and recruiting Companies use the site to familiarize people with their businesses Blogs (Web-logs): Web-based journals through which authors can editorialize and interact with other Internet users 2/3 of Internet users have read blogs Give consumers power over companies because they cannot control what bloggers write Photo sharing: Sites allow users to upload, edit, and share photos Businesses use photo sharing to display images of products Video sharing: Lets users upload videos to the Internet Companies increasingly use consumergenerated content from amateur filmmakers rather than professional ad agencies Consumers Want more and faster access to information Are empowered to comparison shop for the best deals Can connect with each other Marketers must adapt to and use the new media to their advantage Examine how consumers are using the Internet to create better marketing mixes Creators: Create their own media outlets Critics: Comment on blogs or post ratings and Collectors: Collect and organize content reviews generated by creators and critics Joiners: Anyone who becomes a user of social networking sites or other online communities to connect and network Spectators: Read online information but do not produce any themselves Inactives: Do not participate in online digital media; numbers are dwindling A significant privacy issue is the use of personal information that companies collect from website visitors Concerns that this violates privacy rights Some fear that hackers can gain information stored by companies Any attempt to conduct dishonest/fraudulent activities online Cybercriminals increasingly use popular social networking sites to commit fraud Gather private consumer information Damage a company’s reputation Consumers must be careful what information they disclose online Pick an athlete, sports team, celebrity, or musician Type a one page paper talking about what type of social media they use to market themselves or a product Also, talk about some ways they can improve using social media Give specific examples of social media ◦ Tweets ◦ Facebook posts ◦ Instagram photos Extra Credit – Research and discuss a social media disaster