Literary Review on Social Media and Digital Marketing
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Transcript of Literary Review on Social Media and Digital Marketing
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Literary
ReviewonDigital
Marketing andSocialMedia
Shrijishnu E.G201!G!"2
#M$ Section %
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CONTENTS
Importance of Digital Marketing and Social Media 2
What is digital marketing? 2
What is Social Media? 2
Key facets of digital environment 3
Important Concepts in Digital marketing 4
Integrative model for Social marketing 5
The SOSTAC Framework 5
Integrative model between digital marketing and customer
loyalty
7
Return on investment analysis of social media 7
Conclusion 8
References 9
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Literary Review on Social media and Digital marketing
Importance of Digital Marketing and Social Media
Digital technology has been becoming increasingly important in most sectors
of global economic activity. Due to high levels of interconnectivity, the
Internet has been likened to as one of the greatest inventions of mankind in
terms of its ability to affect the future development of business and society.
Consequently, the Internet has provided the drive for many companies to
rethink the role of technology, and examples can be drawn indicating the
extent of its global impact.
In future, as global competition intensifies further, an organization’s
performance and strategic positioning will become more and more
dependent upon its ability to successfully exploit information technologies.
Thus digital marketing and social media are important fields of advertising
that needs to be focussed on at this point in time.
What is digital marketing?
Digital marketing is a term which refers to the use of technology (telecom
and Internet based) to achieve marketing objectives and bring customer and
supplier closer together. Nowadays, digital marketing has become popular
thanks to the inclusion of a wider range of digital and network
communication technologies, including mobile phones and digital television.
What is Social Media?
Social media includes websites and applications that enable users to create
and share content across internet. In other words, being part of a social
media network means that individuals and companies share ideas, interact
with one another, work together, learn, enjoy group entertainment and even
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buy and sell. Major social media websites and applications include
Facebook, Twitter, Youtube, Whatsapp etc.
Key facets of digital environment
Digital environment provides a dynamic platform for interaction between
customers (audience) and firms and their communication (marketing)
through technology (the hardware side) and applications (the software side).
Technology
Technology basically refers to the infrastructure which facilitates online
activity. Mobile and satellite technologies are revolutionizing the
communication industry and wireless networks are a growing part of the
Internet and are enabling users to access the Internet remotely.
Applications
Currently, Internet based applications like Facebook, Twitter, Youtube etc
provides business with a highly effective mechanism for broadening target
markets, improving customer communications, extending product lines,
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improving cost efficiency, enhancing customer relationships and delivering
customized offers.
Marketing
Multichannel is becoming common approach to managing online and offline
operations. Many retailers have realized Internet as a critical channel to
provide information, facilitate two-way communication with customers,
collect market research data, promote goods and services and ultimately to
support the online ordering of merchandise, as an extremely rich and
flexible new channel.
Audience
Across the world many shoppers, information searchers, businesses and
community members are now happy to use Internet technology as part of
their daily lives. For marketing managers it is, however, increasingly
important to understand the target audiences, as there are significant
changes taking place resulting from more and more interactions between
organizations and their audiences via digital technology.
Important Concepts in Digital marketing
Affiliate marketing
It is a form of online advertising in which one business rewards another for
placing advertising on their website. Each time a potential customer clicks
on the link through to the originator of the advert website, the third party
earns revenue.
Buzz marketing
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It is defined as the passing of information about products and services by
verbal or electronic means in an informal, person-to-person manner. It is
also about identifying triggers that will prompt new conversations from
target audiences.
Mobile marketing
This is the sending of text messages to mobile phones to promote products
and build relationships with consumers
Micro blogging
This involves the posting of short messages on social media sites like Twitter
and Reddit.
Integrative model for Social marketing
In Journal of Social Marketing, Emerald Article section there is an article
titled ‘An integrative model for social marketing’ by R. Craig Lefebvre which
discusses the concept of integrative social marketing model.
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Here we can see that the audience benefit is at the core and the marketing
mix comes in the periphery. This reiterates the fact that present day
marketing has definitely moved from a firm-centric approach to a customer-
centric approach.
The SOSTAC Framework
As discussed in a thesis presented by Mr. Do Chau from Lahti University of
Applied Sciences, the SOSTAC Framework developed by Mr. Paul Smith is
an important framework and this has been further modified to fit the e-
marketing platform by the author himself.
• Situation – where are we now?
Analyzing e-environment to learn about the external elements such as
competitors, customers insights, market trends, as well as the internal
capabilities, resources, limits of the company.
• Objectives – where do we want to be?
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Deciding the key objectives of the campaign, to acquire and retain
customers, to satisfy customers want and need, to add values to customers,'
to engage them or to gain quantified efficiency.
• Strategy – how do we get there?
Utilizing segmentation, targeting and positioning, together with sequence,
integration and tools.
• Tactics – how exactly do we get there?
Planning the details of the strategy, including marketing mix, contact
strategy details and timeline schedule.
• Actions – what is our plan?
Giving the details of the tactics – who does what and when
• Control – did we get there?
Monitoring the performance of the plan using web analytics, customer
feedback and surveys.
Integrative model between digital marketing and customer loyalty
This model is being discussed in the 2008 journal titled the same in the
Helsinki School of Economics by Mr. Marko Merisavo. This paper discusses
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the interactions between brand communications and customer loyalty in
terms of the means, the moderators and the outcome of these interactions.
This paper also mentions that compared to regular brand communications
more effective ones are personalized brand communications and interactive
brand communications which are new marketing communication avenues
which have opened through the development in technology.
Return on investment analysis of social media
This conceptual framework is discussed in 2012 article titled ‘Return on
Investment For Social Media: A Proposed Framework For Understanding,
Implementing, And Measuring The Return’ published in Journal of business
and economic research in November 2012.
It brings in a concept of 3d unit of analysis with dimensions of different
levels, functions and measures. Levels refer to the external, firm level, SBU
level, department level and individual level whereas functions refer to
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initiatives like sales, customer service, business development, logistics, and
research and development. Finally measures include long term and short
term measures.
Conclusion
From the journals which were reviewed, it is evident that digital marketing is
the most rigorously researched field in marketing communication currently.
There is a plenitude of frameworks being developed in this areas of research
some of which we covered such as Integrative model for Social marketing,
SOSTAC Framework, Integrative model of interaction between digital
marketing and customer loyalty, 3d unit of analysis framework for ROI in
social media etc.
Digital marketing is definitely the future in integrated marketing
communication field and developments in this field are definitely something
which all marketing enthusiasts should look out for.
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References
• Arnold, T. (2011). ROI on Social Media. Arts Marketing, Spring, 1-10
• Berger, P. & Nasr, N. (1998). Customer lifetime value: marketing models and
applications. Journal of Interactive Marketing, 12(1), 17-30
• Smith, W.A. (2006), “Social marketing: an overview of approach and effects”, Injury
Prevention, Vol. 12, Suppl. I, pp. i38-i43.
• Chaffey, D., & Smith, P. 2008. Emarketing Excellence: planning and optimizing your
digital marketing. Routledge.
• Newlands, M. 2011.Online Marketing: A User's Manual. John Wiley & Sons.
• Mr. Marko Merisavo (2008), “Integrative model of interaction between digital
marketing and customer loyalty”, Helsinki School of Economics
http://epub.lib.aalto.fi/pdf/wp/w452.pdf
• Professors Simon Hudson, Martin S. Roth, and Thomas J. Madden (2012),”
Customer Communications Management in the New Digital Era”, Darla Moore
School of Business University of South Carolina
http://mooreschool.sc.edu/UserFiles/moore/Documents/Marketing/Center%20for
%20Marketing%20Studies/Customer%20Communications%20Management%20in
%20the%20New%20Digital%20Era%20January%202012.pdf
• Keller, K. (2009). Building strong brands in a modern marketing communications
environment. Journal of Marketing Communications, 15(2/3), 139-155.
• Mulhern, F. (2009). Integrated marketing communications: from media channels to
digital connectivity. Journal of Marketing Communications, 15(2-3), 85-101.
• Chester, J. and K. C. Montgomery (2008). "Digital marketing to youth: an emerging
threat." Consumer Policy Review 18(6): 8.
• Dr. Hatem El-Gohary (2010), “E-Marketing - A Review from a Small Businesses
perspective”, Cairo University Business School
• Andreini D. (2006). The Evolution of the Theory and Practice of Marketing in Light of
Information Technology, in Krishnamurthy S. Contemporary Research in E-
marketing, Vol. 2, pp. 168-215.
• Borden N.H. (1964). The Concept of the Marketing Mix. Journal of Advertising
Research, 24 (4): 7-12.
• Constantinides E. (2002a). The 4S Web-Marketing Mix model. Electronic Commerce
Research and Applications, 1:57-76.
• Constantinides E. (2002b). From Physical Marketing to Web Marketing: The Web-
Marketing Mix. atti della 35th Hawaii International Conference on System Sciences.
http://epub.lib.aalto.fi/pdf/wp/w452.pdfhttp://mooreschool.sc.edu/UserFiles/moore/Documents/Marketing/Center%20for%20Marketing%20Studies/Customer%20Communications%20Management%20in%20the%20New%20Digital%20Era%20January%202012.pdfhttp://mooreschool.sc.edu/UserFiles/moore/Documents/Marketing/Center%20for%20Marketing%20Studies/Customer%20Communications%20Management%20in%20the%20New%20Digital%20Era%20January%202012.pdfhttp://mooreschool.sc.edu/UserFiles/moore/Documents/Marketing/Center%20for%20Marketing%20Studies/Customer%20Communications%20Management%20in%20the%20New%20Digital%20Era%20January%202012.pdfhttp://mooreschool.sc.edu/UserFiles/moore/Documents/Marketing/Center%20for%20Marketing%20Studies/Customer%20Communications%20Management%20in%20the%20New%20Digital%20Era%20January%202012.pdfhttp://mooreschool.sc.edu/UserFiles/moore/Documents/Marketing/Center%20for%20Marketing%20Studies/Customer%20Communications%20Management%20in%20the%20New%20Digital%20Era%20January%202012.pdfhttp://mooreschool.sc.edu/UserFiles/moore/Documents/Marketing/Center%20for%20Marketing%20Studies/Customer%20Communications%20Management%20in%20the%20New%20Digital%20Era%20January%202012.pdfhttp://epub.lib.aalto.fi/pdf/wp/w452.pdf
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