ENHANCING PROMOTIONAL STRATEGIESUse of Web 2.0 Social Media
-Chhavi Vatwani
INTRODUCTION
How Web 2.0 holds promise to significantly enhance promotional efforts.
How to incorporate Web 2.0 social media into promotional strategy.
MARKETING
3 Purposes for Promotion (Kotler & Keller, 2007)- To increase product awareness- To persuade people to purchase the product- To remind people that the product exists
Planners make Strategic Decisions about the Marketing Mix (4Ps):- Product -Price- Place - Promote
Traditional Forms of Marketing: Billboards, Commercials on TV, radio.
Former Internet Marketing Tactics: Banner Advertisements Sponsorships Pop-ups and –unders Links Paid Searches
Web 1.0 One-way communication Lecturing
Modern Forms of Marketing: Web 2.0 Second generation internet-based applications Users control communication Engages customers via
- Collaborative Writing (WIKI)- Content Sharing (images, videos)- Social Networking (Facebook)- Social Bookmarking (ratings, followers)- Syndication (RSS feeds)
Two-way communication Inclusion of user-generated content + distribution Collective Intelligence
SOCIAL MEDIA TRENDS MORE AMONG YOUNGER PEOPLE
2006-07: 45% increase in visits, video sharing site (Rainie, 2007)
2007: 120,000 new blogs created every day (Technorati, Sifry, 2007)
2004-06: 9% increase in number of teens reported blogging (Lenhart, Madden, Macgill & Smith, 2007)
2006: 38% teens reported reading blogs where only 27% adults did the same (Lenhart & Fox, 2006)
Web 2.0 has potential to transform social marketing promotion.
SHARPIE ENGAGING WITH TEENS
July 2012: 1 million teens (12-17) visited Instagram
93% of social-media using teens have Facebook account (Pew Internet Research)
32% use Twitter
Sharpie garnered 89% market share (Gained 5 share points) in 2012.
Organization: Sharpie Campaign: Back to School Social Media Handles & Stats:
Facebook: 4 million + likes Twitter: 227,463 followers Youtube: 2,556 subscribers; 1,552,568 video views Instagram: 49,966 followers Pinterest: 6,669 followers
WHY WEB 2.0 SOCIAL MEDIA HOLDS SUCH POTENTIAL?
Direct Engagement with Consumers Boost in Viral Marketing
DIRECT ENGAGEMENT WITH CUSTOMERS
Paradigm: Customer is creator Increase buy-in, loyalty More likely to talk about product with friends Eg. During 2007 Super Bowl, 30 sec spot for
Doritos produced in just a few days for less than $13 was an instant hit.
BOOST IN VIRAL MARKETING
Facilitates + encourages people to pass marketing message
E.g. Georgetown Cupcake after being open for aprox. 2 weeks, was selling 800 cupcakes a day at $2.75 each. No advertising. Heard on blogs and other websites. (2008)
Social Media does not always work
INCORPORATING WEB 2.0 SOCIAL MEDIA INTO SOCIAL MARKETING PROMOTIONAL PLANS
Key questions: - Audience preferences? Their
demographics, lifestyle and motivation to use social media
- Related costs? Timeframe (short/long term budget), type of Web 2.0 SM apps to be used, internal resources available (h/w, s/w, people), resources for market research.
CREATIVE
E.g. use of Web 2.0 SM altruistically as community service or volunteerism.
Perceived costs among participants related to time, money, energy – less problematic!
SUMMARY
Web 2.0 SM helps in enhancing promotional strategies by:
- allowing direct engagement with customers
- boosting viral marketing Incorporating Web 2.0 SM considering
- audience preferences- related costs
EG. OF ENGAGEMENT WITH CUSTOMERS
