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Digital Marketing and Social Media Lecture 1: Introduction Class Objectives   

What is Digital Marketing Difference between Traditional & Digital Marketing Subject structure and assessment

Traditional Marketing Traditional Marketing is a broad category that incorporates long-established strategies, such as print, broadcast, direct mail and telephone  The most popular forms of traditional marketing include: o Newspaper advertising o Magazine advertising o Radio and television commercials o Flyers, postcards, brochures, catalogues o Calling consumers on the phone

How has the Marketing of Products Changed?   

Pace of change  accelerating significantly Global Importance of Digital Marketing Digital Landscape in Australia

How has the Marketing of Products Changed? Pace of change defined as marketing of products or services using digital technology, like the internet, smartphones, and other emerging devices The most popular forms of digital marketing include:  Email campaigns  Mobile phones  Company websites  Display advertising  Social media posting and advertising What are the benefits of digital marketing? 1. Owning your own channel of content on your website, blog and social media 2. Tracking every step of the customer’s journey, including clicks, purchases, device access and email views 3. Getting real-time analytics of your customer base and tracking them with ease (social media analytics, data analytics) 4. Increasing conversion rates  a recent report by Quora found digital marketing increases conversions by 24% Drawbacks of digital marketing 1. To many consumers, digital marketing efforts are less personal 2. Easy for consumers to target products and services through social media 3. Vulnerable to spammers and scammers

Lecture 2: Introduction to Digital Channels Class Objectives 1. Study latest trends 2. Evolution of digital channels 3. What does the presence of digital channels mean for marketers?

2018 Digital Trends

Difference Between Omni-Channel and Multi-Channel Retailing Both multi- and omni-channel retailing involve selling across multiple physical and digital channels, the key difference is how the customer experience is joined up across those channels. A traditional multichannel retailed may have a website and physical stores. These two channels are generally very siloed, and have very little interaction with one another, and hence customer experience of shopping in these channels is very fragmented. Omnichannel retailing, on the other hand, joins touchpoints together so that whatever journey the customer chooses to take, the experience is consistent and unified.

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Both multi- & omni-channel involve selling across multiple physical & digital channels  the difference = how the customer experience is joined up across those channels.

Big Picture from 2018 Trends 1. Emphasis on digital marketing investment in areas such as social media marketing and content marketing 2. Content marketing and creating compelling content was crucial for online success 3. Video advertising is a growing area of digital investment for firms 4. Online brand management will be crucial to brands’ success 5. Importance of marketing analytics using big data to draw insights and measure the effectiveness of digital marketing efforts is becoming increasingly important

Digital Marketing Trends to Watch Out for in 2019 1. Facebook may be peaking o Facebook is still currently the #1 social media platform in the US, with 41% of its users being over the age of 65. So, for marketing that targets a senior demographic, there simply isn’t a better platform 2. Instagram is a hit with the kids o Instagram’s meteoric rise has already passed one billion users. Much of its user-base is the coveted younger demographic, especially under 30. 3. Chatbot use will increase o Chatbots are just a specialised form of software that acts as a virtual “concierge”, communicating with users and assisting them in completing their goals. Chatbots interact with humans in a natural way, primarily through the use of text chat windows, but verbal interactions are also possible. 4. Video is a must o You can capture and convey a lot of information and your brand’s personality with video 5. Live video is a separate yet important thing o One of the fastest rising stars in digital marketing is the use of live video. This can be attributes to the massive spike in streaming services, thanks to popular channels such as “Twitch”, which allows people to easily stream videos, or even devices such as Sony’s PS4 game console that comes with live streaming abilities built right into the box. The spontaneity and interactivity of live streaming can undoubtedly be a big draw when done right, with a wellchosen personality. 6. Good content still matters o There’s an increasing emphasis on nuance in content

Digital Channels Recap – Marketing’s Past  “Stray and pray” mass marketing o Created and “sprayed” messages o “Prayed” their customers would react  Consumer markets – going to stores or websites and responding to promotions or merchandising

Evolution of Digital Channels

What does changing consumer behaviour mean for today’s marketers?  Marketers face non-linear consumer buying process implying a shift from push to pull marketing  Markets need to be where customers are searching and sharing (i.e. digital communication replaces ads and revenues as a primary source of customer information)  Organisations need to evolve to develop more fluid structures  User/Consumer experience is more important

Today’s Consumers  Always-on digitally connected world  Customer buying process isn’t linear o Shift from awareness to purchase  Customer journey – increasingly self-directed and made up of erratic micro-moments o Shift from push to pull marketing o i.e. in push marketing, the idea is to promote products and persude consumers to buy products  Examples: Sales displays at your grocery store o In contrast, pull marketing attempts to establish a loyal following and draw consumers to the products  Example: Airline frequent flyer programs; loyalty card programs; social media promotions

Recap 1. Current trends indicate an increased emphasis on social media marketing, content generation and video advertising 2. Online brand management will be crucial to brands’ success 3. Important of marketing analytics using big data to draw insights and measure the effectiveness of digital marketing efforts is becoming increasingly important 4. Evolution from offline to online/traditional web channel and then onto digital channel incorporating mobile as a new channel 5. The implications of digital marketspace and changing consumer behaviour for markets

Readings Lecture 2 Designing a Marketing Organisation for the Digital Age 

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“Spray and prey” mass marketing o In consumer markets, that usually meant going to physical stores or websites and responding to merchandising programs and other promotions o In B2B arena, the goal was to connect customers with sales representatives who would then seal the deal o Customs were largely unconnected, and marketing’s goal was to move them through a linear step-by-step process pushing customers from awareness to purchase In a digitally connected world, customer buying process is no longer linear o Buyers search for product information and recommendations anytime they have a spare moment o The change represents a shift from push to pull marketing o “Marketers need to be where customers are searching and sharing” Marketing might have to add new departments such as web, mobile and digital to their silos of marketing departments To thrive, marketing organisations must: o Abandon silos and create nimble and fluid structures (cross-functional teams) o Lead the customer charge across the enterprise

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o Revamp skill sets  digital engagement and digital content creation skills  “Horizontally connected teams drive speed, agility and nimbleness” Marketing must strengthen its relationship with other functions

Online or Instore: Exploring the Shift in Shopping Behaviour    

Prediction e-commerce will grow 8-12% every year Millenials tend to shop more often & prefer using both in-store and online channels Gen Xers more likely to visit a store Baby Boomers favour online shopping

Tutorial 3: Types of Data for Collection and Data Metrics Digital Marketing Case Study: Wendy’s Social Media Presence Wendy’s  The fast-food restaurant is well known for its hamburgers and chicken sandwiches.  They have also implemented a satirical strategy on twitter  Key takeaways: o Importance of establishing conversations o Interacting with customers on a person level to create customer loyalty o Distinguishing themselves within the market o Connecting with millennials – fits with the twitter culture o Today’s consumer is very engaged – they need more than just an online presence but engagement as well Burger King  BK Sweden, trolling McDonald’s loss of trademark over ‘big mac’ Discussion  How can brand’s firms measure the effectiveness of their digital media such as the social media channels? o Overall website traffic o New followers o Source of website visits (from socials, etc.) o Amount of comments/likes o Conversion rate  how many hits lead to actual sales o Cost per click

Lecture 4: Social Media Class Objectives  Social media definition  Social media zones

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Social media marketing Characteristics of social networks Brand engagement in social networks

What is social media? Oxford Dictionary Definition: Websites and applications that enable users to create and share content or to participate in social networking Tuten & Solomon 2015: Social media are the online means of communication, conveyance, collaboration and cultivation among interconnected and interdependent networks of people, communities & organisations enhanced by technological capabilities & mobility.

Social Media Types Social Media Zones

Social Network (SN) Characteristics   

Social networks foundation of social media o All social media based on participation of community members Need to understand how defining dimensions affect ability to market brand with the social space 3 differing dimensions as follows: o (a) Audience and degree of specialisation  Social searchers would use the site to investigate specific people with whom they share an offline connection to learn more about them  Social browsers would use the site to find people or groups online with whom they would want to connect offline o (b) The objects that mediate the relationships between members

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Example: Vertical networks describes the narrow, deep focus of social networking sites that differentiate themselves because they emphasize some common hobby, interest or characteristic that draw members to the site o (c) Degree of centralisation or openness  Example: Social lock-in occurs when a user is unable to transfer social contacts and content from one social network to another  Example: Identity portability is such that a single profile would provide access across social networking sites with a single login and shared information Extracting Value from Networks  Social media network analytics extract, analyse, and interpret personal and professional social networks, for example, Facebook, Friendship Network and Twitter What kind of business insights can you extract from network data?  Influential people  Network structure Twitter Network Example

Social Media Marketing (SMM) Social Media Networks vs SMM  Social media networks (or platforms) are the tools themselves  Social media marketing is a process of how businesses use social media channels to understand and engage with customers and potential customs in such a way that leads to the achievement of ultimate marketing and business goals Social Media Matrix

Zhu and Chen’s Social Media Matrix

Marketing on Social Media Marketing on social media is made of: 1. The engagement element 2. The non-engagement element

What does SMM give consumers? 1. Co-create brands and experiences 2. Establish social networks 3. Express themselves digitally 4. Share creations and expressions with their social networks

Social Media Marketing (SMM): How is it different from other channels? Social Media vs Conventional Media

Consumers’ Media Habits Consumers’ media habits are rapidly changing:  Proliferation in the number of communication channels over the past 20 years  Traditional media has decreasing audiences  Average consumers spends 23% of media time online versus 5% on newspapers and 3% on magazines  Consumers’ are besieged with over 5,000 ad messages a day o Only 1-3% of ads exposed to consumers are remembered  Consumers’ are tuning or opting out of ads o 70% of consumer avoid TV commercials o More opt-out requirements

Measuring the Effectiveness of SMM Social media actions analytics deals with extracting, analysing and interpreting the actions performed by social media users, including likes, dislikes, shares, mentions and endorsement  Purpose: o Engagement tracking o Social media marketing campaign’s performances o Understanding brand popularity (likes, views, clicks) o Referrals Social media text analytics deals with the extraction and analysis of business insights from textual elements of social media context, such as comments, tweets, blog posts and Facebook status updates  What kind of business insights can you extract from textual data? o Sentiment mining o Intention mining o Topic and idea mining, etc o Purpose of Text

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Purpose: o Social listening  i.e. monitoring social media posts and discussions (as for example using sentiment analysis), and figuring out how consumers are reacting to a brand or event o Sentiment analysis  analyses and categorizes social media text (mostly dynamic text) as being positive, negative or neutral

o Intention Mining  Intention or intent mining aims to discover users’ intention (such as to buy, sell, recommend, quit, desire, or wish) from media text  Can be used to find new potential customers who intend to buy a product (or services), and  Service existing customers who have trouble with a product o Topic and Idea Mining  Involves in-depth content analysis to finding opinions, ideas and topics of discussions in social media content and extracting the sentiment they contain.  All opinion is made up of a target, also called a topic, and a sentiment on the topic  Example  in the content “I love Nacho cheese Doritos” the topic is Doritos, and the sentiment is most definitely positive

Recap 

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Social media marketing: o Co-create brands and experiences o Establish social networks o Express themselves digitally o Share creations and expressions with their social networks How SMM is different: o Immediate feedback with firm o Instant communication with network o Less clutters, more consumer recept Various uses of social media o Network analytics o Text analytics

Tutorial 4: Social Media Recap Social Media Matrix

How to Measure the Effectiveness of Marketing Efforts on Social Media?  Social Listening – i.e. monitoring social media posts and discussions i.e. text analytics, and figuring out how consumers are reacting to a brand or event  Sentiment analysis involves checking how many negative and positive keywords are present in a chuck of conversation. If there are more positive keywords than negative, it is considered positive content  In-depth content analysis involves finding opinions in social media content and extracting the sentiment they contain. An opinion is made up of a target, also called a topic, and a sentiment on the topic.  Topic and idea mining involves in-depth content analysis to find ideas and topics of discussions in social media content and extracting the sentiment they contain Why perform sentiment analysis?  Sentiment = feelings o Attitudes o Emotions o Feelings  Subjective impressions, not facts  ‘Opinion mining’ Sentiment Analysis  Uses: o Brand health check (note the sentiment for brand health check can be computed objectively as the ratio of mentions that are generally positive to mentions that are generally negative o Identify potential crisis o Competitive research o Evaluate campaigns

Tutorial 5: Understanding Data from Social Media Recap – Content Marketing 

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Important elements of content o Authenticity o Conflict o Engaging Role of content in consumer’s purchase journey o Shorten journey o Support journey Measuring the effectiveness of content marketing o Awareness – SERP o Consideration: Visit durations o Conversion: Identifying which content sources contribute to the conversion funnel

Four Types of Data 1. Nominal Level o Data that cannot be arranged in any particular order/sorted o Essentially labels o EXAMPLE: Yes/No? 2. Ordinal level o Data in which ranking is implied o I.e. data can be arranged in some order/sorted o EXAMPLE: Test performance is graded as HD, D, C, P or F 3. Interval Level o In an ordered scale in which the difference between the measurements is a meaningful quantity but the measurements do not have a true zero point o EXAMPLES: Temperature, shoe size 4. Ratio Level o Differences and ratios are meaningful for this level of measurement o Zero is significant/meaningful o EXAMPLES: Ration of comments on ad posts is meaningful

Tutorial 6: Understanding Data Patterns Recap – Consumer Behaviour on Digital Platforms 

Conventional steps of consumer behaviour are: o Problem recognition o Search o Alternative evaluation o Purchase behaviour o Post purchase evaluation...