Marketers and social scientists pay spe- cial attention to interpersonal communi- cation as it significantly changes consumer attitude and behavior (C. M. Cheung & Tha- dani, 2010). A bulk of literature is available on the power of word-of-mouth (WOM) communication and its e ﬀ ects on brand image, brand loyalty and purchase inten- tion (Bauernschuster, Falck, & Woessmann, 2011) (Gil de Zúñiga et al., 2012). With the advent and popularity of socialmedia, it has also become a medium for the word-of- mouth (WOM) communication more com- monly known as electronic word-of-mouth (eWOM) (C. M. Cheung & Thadani, 2010). Electronic word-of-mouth (eWOM) commu- nication refers to all the comments, opinions communicated by current, past or potential users through socialmedia (Hennig-Thurau, Gwinner, Walsh, & Gremler, 2004).
The advent of the socialmedia has brought about tremendous changes and advancement in the marketing process and has made it much better on the one hand and much worse on the other. However, nowadays, it has been widely accepted that socialmedia is the next big trend in the marketing world and several studies have shown that these media or channels are often more effective than the traditional ones. Since the turn of the century, socialmedia has steadily emerged ahead of the mass media as the most used media. Both print circulation and TV viewership have been falling consistently over the years; for instance, TV viewership has gone down almost 50% since 2002. In contrast, socialmedia has reported massive gains since the early days of MySpace, with socialmedia usage among U.S. adults increasing by 800% over the past eight years (Edwards, 2013).
long range interpersonal communication have turned out to be progressively obscured. Numerous internet business sites bolster the component of social login where clients can sign on the sites utilizing their interpersonal organization personalities, for example, their Facebook or Twitter accounts. Clients can likewise post their recently bought items on microblogs with connections to the web based business item website pages. This venture goes for a novel answer for cross- webpage icy begin item proposal, which intends to prescribe items from internet business sites to clients at interpersonal interaction destinations in coldstart circumstances, an issue which has once in a while been investigated some time recently. A noteworthy test is the manner by which to use learning separated from interpersonal interaction locales for cross-site chilly begin item suggestion. This venture propose to utilize the connected clients crosswise over person to person communication destinations and web based business sites (clients who have long range informal communication accounts and have made buys on online business sites) as an extension to guide client's interpersonal interaction components to another element portrayal for item suggestion. In particular, this venture learning both clients and items include portrayals (called client embeddings and item embeddings, individually) from information gathered from online business sites utilizing repetitive neural systems and after that apply an altered angle boosting trees strategy to change client's person to person communication highlights into client embeddings. We then build up a component based framework factorization approach which can use the learnt client embeddings for frosty begin item proposal.
Abstract: Socialmedia industry is witnessing the exponential growth since last few years. Irrespective of size, nature and industry in which a business is operating, socialmedia has acquired an important place in many business operations. To remain upbeat in the highly competitive market environment, one has to integrate the traditional marketing practices with socialmediamarketing. Marketers are closely looking to tap different opportunities in socialmediamarketing and trying to reap the benefits over competitors. Today is the era of human centric marketing where marketing is not just fulfilling the needs & wants of customers. The modern days marketing is associated with customers not only by satisfying needs but by connecting them with heart & soul. So the sole goal of marketing is not to increase sales or revenue but to acquire more customers and make long lasting relationship. Marketing 3.0 is based on collaborative participation and value creation by customers. This paper is an attempt to throw light on effectiveness of socialmedia in modern day’s value driven marketing or so called marketing 3.0. In this paper analysis of secondary data is done for different socialmediamarketing campaigns. This paper also answers to the question that how socialmedia adds value to industries like Gov. Dept., banking, education and other.
It is important to highlight that there are a few differences in how we collect and analyze the Digg and Twitter datasets, mainly to incorporate the contextual differences between the two platforms. The first difference is that, in the Digg dataset, we treat all users as candidates for spontaneous sharing of an ad, as they all can see the ad on the front page of Digg. In the Twitter dataset, however, for each tweet, only the followers of the author (i.e., the brand) or retweeters are candidates for spontaneous sharing because there are no such non-social sources like front page that guaranteed substantial exposure for non-followers. Second, in contrast to Digg, Twitter often only shows the feed from the earliest co-sender to the receiver and does not provide any clue about the other co-senders’ activity on the same tweet. However, our model can effectively handle the case when only one of the co-senders has a significant impact. Therefore, this should not bias our estimates, especially given that only 7% of retweeters in our sample have more than one co-sender. What is noteworthy is that despite these differences between Digg and Twitter, we obtain highly similar results and it further demonstrates the generalizability of our findings.
Social platforms each have an ecosystem of their own. Creating a basic socialmedia presence is easy enough, getting your community to actually do something is more difficult. Make sure your site is included in local business directories in order to help ensure that consumers find you when they need you. Customizing messages across sites help the message spread but it keeps users from receiving multiple identical communications. By giving exclusive coupons to your social community, you’re rewarding and reminding them that you are not only a brand to engage with, but also to buy from. Taking advantage of these strategies can help you build your community, make your marketing more effective, and incentivize buying.
A new generation of online tools, applications and approaches such as blogs, wikis, online communities and virtual worlds, commonly referred to as Web 2.0 or socialmedia, are increasingly attracting the attention of practitioners and, recently, of academics (Davila, et al., 2003). By introducing and using these new communication tools, businesses face different opportunities and challenges. Wright and Hinson (2008) mentioned that due to the use of socialmedia there has been a change in the way organizations communicate with their employees, customers, stockholders, communities, governments and other stakeholders and therefore socialmedia could have an impact on the business processes of organizations. Many business-to-consumer organizations are already actively making use of socialmedia for their marketing strategies; examples of these organizations are Ford, KLM, ING, NS and T-Mobile (Alarcón-del-Amo, et al., 2011). However, it is still not entirely clear in what way and how much socialmedia applications will change the marketing activities for business-to-business organizations. This research will contribute to the process of identification and understanding possibilities for B2B organizations to make use of socialmedia as marketing tool; in addition the use of socialmedia in other business processes, as they are described in the value chain model of Michael Porter (1985), will be explored. Previous academic research concerning socialmedia in B2B organizations has investigated reasons why socialmedia can be used for B2B marketing (Erdoğmuş & Çiçek, 2012), the usage and barriers of social networking sites for B2B organizations (Howe, 2006) and the role of socialmedia in the buyer-seller relationship (Meier & Stormer, 2009). Furthermore, the advantages of socialmediamarketing (Vance, et al., 2009), the role and possibilities of socialmedia in the sharing and creation of customer information and knowledge from the perspective of innovations of B2B organizations (Berthon, et al., 2003) and some web- based communication tools to reach buyers directly are examined (L.-T. Chen, 2013). However, there is only limited research done which focuses on the role of socialmedia in B2B marketing. It is obscure how socialmedia can be used in B2B marketing and in the other business processes, and for that reason of nescience, B2B organizations cannot benefit yet from socialmedia.
Socialmedia is a group of internet applications which build on the ideological and technological foundations of web and which also allow the creation and exchange of user generated contents. With the rise of socialmedia, power seems to have shifted from marketing managers to individuals and communities. By relying on the value creation perspective from a knowledge economy viewpoint, the main aim of my paper is to verify if the introduction of socialmedia may be considered as an evaluations or a revaluation of relationship marketing, given that socialmedia have empowered users to connect, share and collaborate by creating spheres of influence that have fundamentally altered the way in which marketers engage in influencing activities. Users are, indeed, no longer passive participants but they play an active role in the media process since they have become an important and productive source of content on the web. By focusing on the customers, socialmedia provide them with more effective and affordable communication tools that enable them to participate in value adding and marking mix decisions by connecting and interacting not only with seller but also with others stakeholders. The interactive nature of socialmedia is likely to lead to the blurring of the role integrity of sellers and customers by expanding the role of customers and including them in the creation of value, thus leading them to become co-creators and co-producers. Identification and description, according to an economic managerial perspective, of the constitutive elements of a theoretical framework which allows us to analyze the relationship between relationship marketing and socialmediamarketing.
Licensed under Creative Common Page 24 and Golden Glove was given to players sponsored by adidas. The Fair Play Award went to Colombia, who is also sponsored by adidas. In comparison to that, Portugal and England, two of the top favored nations sponsored by Nike, already dropped out of the tournament after the group phase. Since they have two of the most valued players in the world, Cristiano Ronaldo and Wayne Rooney, this was a big setback for Nike. Especially since the entire communication of the riskeverything-campaign was built around them, particularly Cristiano Ronaldo. Another success driver eventually was the content strategy that adidas chose in alignment with its entire presence throughout the World Cup. In an intelligent way they have not only created relevant real-time content that people are interested in. But they have also brought this on a personalized level by creating for instance the @brazuca account on Twitter. It even substituted informational media in some way by always sharing the latest news with its community. Although Nike implemented something similar with its hashtag #AskZlatan, they did not set up an own account for that. Furthermore, they were somehow limited with real-time communication as they were no official sponsor and therefore could not display content linked to FIFA or the World Cup.
oday being online is a basic necessity for every business organization. Similar to T.V. and paper ads, a website is another essential communication tool. Through websites business can grow internationally in much better and efficient manner and is cost effective too. Online marketing is very volatile in nature as a good website can enlarge the customer base, while a bad one can affect your business more adversely than any other media i.e. Internet marketing practices should be given more importance than any other medium of advertising.
8. Micro-Video, GIFs and Video Blogging: In India, we with increase in smartphones and engagement on Internet, video especially micro-videos, GIFs and video blogging will play a strategic role in reducing bounce rate and enhancing engagement. 70 per cent of Indian Internet users watch video, and with smartphone owners reaching to 104 million in India, the video will get the much-needed boost. 9. Viral Video Marketing in India: In India people huge appetite for video – according to ComScore, in India, video consumption has doubled in two years to 3.7 billion videos per month. However, viral video marketing in India is at nascent stage therefore still unproven for its effectiveness and ROI in India. Nevertheless, any brand/business esp. B2C businesses who would want to reach millions of people in short span without spending moolah, will definitely opt for viral video marketing in India.
The major advantage of shopping online is being able to quickly seek out deals for items or services provided by many different vendors (though some local search engines do exist to help consumers locate products for sale in nearby stores). Search engines, online price comparison services and discovery shopping engines can be used to look up sellers of a particular product or service (Novak Thomas P, Donna L Hofmann and Yiu-Fai Yung, 2000) . According to the multiple regression analysis, it was found that Socialmedia ads were influenced respondents while making their shopping list and purchases. Also mobile marketing content, message credibility, authenticity, its relevancy to weekly shopping along with human supports through chats and customer service (Empathy) and consistent quality and performance (Reliability) can make the respondents more frequent shoppers and loyal to SMEs and neighborhood stores. These findings are consistent with literature review and it was established that through socialmedia and mobile marketing, SMEs and neighborhood stores can connect with their customers with latest updates on new product arrivals, price discount, and weekly bundles of product at discounted prices .
There are many opportunities and challenges today for consumers’ behavior to impact corporate trustworthiness and commitment on social issues. It can range from a groundswell of local organizations and communities to the 'Yes Men's' parity of movies and socialmedia impact on corporate greed. The 'Yes Man' used socialmedia to release a fake press release for a Chevron ad campaign that included a commitment and reference to a years-long lawsuit in Ecuador, where Chevron is accused of being responsible for $27 billion of oil pollution clean-up costs (Zax, 2010). Major magazines and network outlets were duped by the hoax and had to retract statements made by the initial release. The URL was so close to the actual company web address that it was missed by many. This was a testament to the contagious speed of viral marketing and value of social network outlets to bring the latest news to millions of people in the shortest time possible with more impact and less cost than conventional forms of promotion.
Making use of marketing experiences companies pay attention to social issues, which require a broader type of information to be distributed amongst society. Apart from social campaigns they also promote themselves as taking an active part in actions of this kind. Ferrero Poland is an example here, which through its Kinder-series products reminds consumers about its participation in this undertaking.
Research questions (2) through (4) were answered using empirical data collected by means of a national survey (N=403) among future university students in The Netherlands. Research questions (2) and (3) were treated using descriptive statistics. The data regarding the use of the SocialMedia were taken as criteria for a post hoc cluster analysis, to investigate possible market segmentation and attempt to answer research question (4a). Post hoc cluster analysis is commonly used in segmentation studies (Punj & Stewart, 1983; Hoek, Gendall, & Esslemont, 1996). A detailed description of the methodology for the cluster analysis is given in section (3.2.2). However, the cluster analysis did not yield a satisfactory segmentation, for reasons that are explained in Chapter (4) – Analysis and results. To try to overcome this shortcoming, a factor analysis was subsequently chosen to cluster the original data set based on the SocialMedia usage, as this is also a technique used for market segmentation (Hoek et al., 1996). A detailed description of the methodology for the factor analysis is given in section (3.2.3). The factor analysis did yield a better, albeit slightly, segmentation compared to the cluster analysis and these results were therefore used for answering research question (4a). After answering this question, the results were compared to the Social Technographics Ladder classification theory of Li and Bernoff (2008) discussed in section (2.3.3). For this purpose the sample was also clustered according to this classification. To examine the differences, if any, in SocialMedia usage between the existing and potential geographical market segments, the data were clustered into these two a priori segments. Research question (4b) was answered by analyzing the relevant differences of the usage information between these two segments. The significance of the differences was assessed using Pearson’s chi-square test of independence, a test that is commonly used for this purpose (Slakter, 1965). The null hypothesis of the test (stating that the SocialMedia usage is independent of the segments) is rejected for test values ≤0.05, corresponding to the commonly accepted 95% confidence level. The data analysis was carried out with the statistical program PASW (formerly SPSS) version 18.0.0, and the syntax used for the analysis can be found in appendix (A).
According to Moghrabi and Al-Mohammed (2016), socialmedia has seized a considerable share of everyday life activities, especially due to the multitude of purposes of socialmedia activities. Therefore, it only makes sense that companies and businesses would decide to take advantage of the benefits offered by socialmedia, and integrate socialmedia within their organizations in order to help them achieve their strategic goals and objectives. Socialmedia had the power to transform organization’s business model from operations, marketing and not ending with sales. Whether they were small businesses or big operating companies, many businesses nowadays cannot operate without the aid of social networking sites. Social networking sites are different from traditional online marketing channels because they have the ability to gather, parse, and sort valuable demographic data, on daily basis. From a business perspective, integrating socialmedia inside of a business and aligning it with an organization’s strategies and goals has turned out to be less of an alternative, and even more a need in today’s aggressive and dynamic business environment. The reason is that organizations must recognize the demands of the global competitive business environment and respond promptly in addition to ensuring that they predict trends in those environments. By embracing online social networking, and building up a culture of client centricity supported by the use of social networking channels, organizations can develop a competitive advantage. Socialmedia has forced companies to change their infrastructure, influence their strategies and transform their objectives to include a socialmedia specific target. As examples: obtaining one million followers online, creation of dedicated socialmedia teams, a dedicated budget, and minimizing the volume of poor comments which may
With regards to the traditional approaches of marketing, SocialMedia platforms allows communication and interaction among varieties of people which in turn helps in building brand loyalty concluding to better brand awareness, brand recognition and brand recall of the products and services and a thread of online followers of the same. Researchers have claimed that marketing strategies including promotions, marketing intelligence, public relations, consumer and product management and marketing interactions must explore and leverage socialmedia platforms because of its increasing inclining curve of users, also it is observed that customers have a tendency to consider opinions and information communicated by other similar customers rather than the information released directly by the producers, this takes place because customers know that the producers have the hidden interest of increasing their sales but if a trusted third party provides a feedback of a product used, there is no hidden interest these similar customers have which therefore makes them trustworthy.
distribution of WOM has been increased and accordingly, a new concept known as electronic WOM has come out (eWOM) (Quoted from Brown, Broderick and Lee 2007; Dellarocas, 2003; Dwyer, 2007; Goldenerg, Libai, and Muller, 2001; Goldsmith and Horowitz 2006 by: Kim 2012). Hennig-Thurau vd. (Quoted from 2004 by: Kim 2012). eWOM is defined as follows: “All kinds of positive and negative expression that belongs to potential, real or former customers in relation to a product or company and that is announced to limitless individuals and companies through Internet” (s. 39) according to Klein (Quoted from 1998 by: Kim 2012). WOM process also enables customers to understand abstract products while searching for WOM information from an experienced source. For this reason, online customer comments on restaurants, travel destinations and hotels have become very remarkable information sources for consumers (Quoted from Pan vd., 2007 by: Kim 2012). This communication is made by using different channels: For example, emails, discussion forums, main pages, blogs, restaurant comment sites (urbanspoon.com) and social networking sites (such as Facebook and MySpace) (Quoted from Goldsmith vd., 2006; Vilpponen, Winter and Sundqvist,2006 by: Kim 2012). Thanks to this anonymous interaction, consumers can exchange opinions about products or services affected by the information on Internet (Quoted from Goldsmith vd., 2006; Schlosser, 2005 by: Kim 2012). For example, Vermeulen and Seegers (2009) conducted an experimental study with the purpose of measuring the effect of online comments on travel decisions. According to their conclusion, receiving online comments increases awareness about hotels and positive comments lead to positive attitudes towards hotels. Additionally, customers can compare prices and the quality of products and services. They also have the chance to communicate with other marketers and consumers on online platforms (Quoted from Goldsmith vd., 2006 by: Kim 2012)). According to Goldsmith vd. (2006), marketers know the power of eWOM to earn the loyal customers. Now many companies endeavor and make significant investments in order to increase the number of positive eWOM news (Quoted from Goldenberg, Libai and Muller, 2001 by: Kim 2012).
According to Harris (2009) there are indisputably hundreds of socialmedia platforms (e.g. Social networking sites, discussion groups, blogs, wikis, podcasts, streaming videos). As Chi (2011), said that socialmediamarketing described as a “connection between brands and consumers, while socialmediamarketing is providing a way to consumers for social interaction and centered networking.”As Hesseet al. (2009) said that now consumers are expecting to gain 24-hour access to information by online applications and many other digital ways, they are also expecting 24-hour customer service as well as self-serve options through online sources. Now consumers want to leave the traditional system for getting information and want to utilize latest technology.
hopefully winning a few new patrons at the same time. People turn to socialmedia for information more frequently now than they did even a year ago, because every search engine brings back about a million hits too many to the queries we type in. So we ask our networks instead; we trust humans more than we trust algorithms. Libraries must be there, providing good quality information as we have always done, but across new platforms.