Project on Digital Age in Marketing

Defections:

Social network is a platform, or site that focuses on facilitating the building of social networks or social relations among people who, for example, share interests, activities, backgrounds, or real-life connections (1).

E-marketing, is a form of marketing and advertising which uses the Internet to deliver promotional marketing messages to consumers. It includes email marketing, search engine marketing (SEM), social media marketing, many types of display advertising (including web banner advertising), and mobile advertising (2).

Viral marketing, viral advertising, or marketing buzz are buzzwords referring to marketing techniques that use pre-existing social networking services and other technologies to try to produce increases in brand awareness or to achieve other marketing objectives (such as product sales) through self-replicating viral processes, It can be delivered by word of mouth or enhanced by the network effects of the Internet and mobile networks.[3] Viral marketing may take the form of video clips, interactive Flash games, advergames, e-books, brandable software, images, text messages, email messages, or web pages.(4)
2. Research:
Social networks, e marketing and viral marketing have become essential tools for any business today, the enable otherwise small and invisible companies to penetrate larger markets and reach many clients at a relatively low cost.
Smart business use targeted e marketing to reach relevant clients and smart ideas that can spread virally through social networks, and hence reach a very large number of people that otherwise would have been impossible through non digital means!
Literature shows that social networks really affect decision making processes and can steer audiences to specific products, this form of marketing is also more interactive and engaging to clients, so it has become absolutely critical to have strong online presence even for large established companies that don’t want to lose marketplace in the new digital era. (5)

3.1. Overview and description
Big data is a popular term used to describe the exponential growth and availability of data, big data may be as important to business and society as the Internet has become.
The trend to larger data sets is due to the additional information derivable from analysis of a single large set of related data, as compared to separate smaller sets with the same total amount of data, allowing correlations to be found to “spot business trends, prevent diseases, combat crime and so on.
Firms that have long handled massive volumes of data are beginning to enthuse about the ability to handle a new type of data—voice or text or log files or images or video. A retail bank, for example, is getting a handle on its multi-channel customer interactions for the first time by analysing log files. A hotel firm is analysing customer lines with video analytics. A health insurer is able to better predict customer dissatisfaction by analysing speech-to-text data from call centre recordings. In short, these companies can have a much more complete picture of their customers and operations by combining unstructured and structured data. (6)

3.2. Relationship between digital marketing & social network, e-marketing & viral marketing
Social media is a key model of the velocity and variety which are associated with Big Data. With social media, data is coming at you at an inconceivable speed and in a number of formats including videos and pictures. Only Big Data Applications can enable organizations to manage these social conversations in real-time. That is why social media is indeed mountains of big data waiting to be explored. The companies or the people make sense of what all the available data means to their business and marketing strategies or to their privileges . Big Data is usually associated to having volume, velocity, variety, variability and complexity which are also features of Social Media Analytics.

each social network has a distinct character, and views its users through a very different data lens, which informs this targeting. By understanding each social network’s data profile, marketers and developers can better gauge which social network is better for their purposes.

E-Marketing is the process of marketing a brand using the Internet. It includes both direct response marketing and indirect marketing elements and uses a range of technologies to help connect businesses to their customers. When implemented correctly, the return on investment (ROI) from e-Marketing can far exceed that of traditional marketing strategies.

E-marketing refers to the use of the Internet and digital media capabilities to help sell your products or services. These digital technologies are a valuable addition to traditional marketing approaches regardless of the size and type of your business. E-marketing is also referred to as Internet marketing (i-marketing), online marketing or web-marketing.

In the era of big data, marketers are already able to track what you are going to purchase and viewing trends to generalize data and come to some conclusions.

Viral marketing is a slogan for promotional messages that spread through social networks. Viral marketing campaigns hinge on finding a catchy medium for a message and then propagating it through different online channels including blogs, microblogs, posts, crowdsourcing and so on. The goal of a viral marketing campaign is to raise brand awareness.

3.3 & 3.4. Advantage and disadvantages of: with examples and facts

Social Networks

Advantages:
1. Reach the customers quickly. Example: Twitter application helps to share promotions, offers and sales to the customers.
2. Supporting Internal Business Decisions. Example: Some business use LinkedIn to support internal decisions like dealing with sponsors or other organizations.
3. Understand customer impressions better, feedback to improve their product. Example: Instagram application helps to get customers feedback and impressions through their comments and likes.
4. Brand recognition. Example: YouTube application support to advertise for products or services very easy and get lots of customer’s recognition.
5. The companies can track down the activities of their competitors. Example: this can be done by following other organizations/companies social media, such as twitter, Instagram, YouTube, LinkedIn, Facebook and etc.
Disadvantages:
1. Bad Branding is wrong online brand strategies that doom a company. Example:
2. Commitment
3. Time
4. No short term ROI
5. The risk of negative comments

E-Marketing
Advantages:
1. Extremely low risk
2. Reduction in costs through automation and use of electronic media
3. Faster response to both marketers and the end user
4. Increased ability to measure and collect data
5. Increased interactivity
Disadvantages:
1. Dependability on technology
2. Security, privacy issues
3. Maintenance costs due to a constantly evolving environment
4. Higher transparency of pricing and increased price competition
5. Worldwide competition through globalization

Viral Marketing:
Advantage:
1. Costs and investments
Viral marketing allows us greater reach with lower financial cost
2. Exposure
If we develop a good content marketing campaign that unleashes the interest (emotion) of our target, increased visibility will only lead to increased our brand
3. Reputation
A viral marketing campaign is performed properly and awareness will lead to increased traffic, higher conversion and, therefore, more likely to find influences individuals interested in joining our brand.
4. Conversion
The combinations of different marketing strategies whose objectives are focused on achieving engagement with our audience have their most convincing proof of efficiency in increasing traffic
5. Simplicity
To analyze the benefits of viral marketing strategy can bring to businesses; we cannot fail to mention the ease with which you can implement a viral marketing strategy.
Disadvantage:
1) Nuisance Factor
2) Negative Buzz
3) Ethical Considerations
4) Hard to Measure

4. Traditional forms of marketing: what traditional forms of marketing become less important in the contemporary marketing age?

Several traditional forms of marketing have become less important because of recent developments. As print media has faced declining subscribership, it has lost its attractiveness in developed countries. Moreover, physical personal selling has become almost outdated because of B2C e-commerce websites, such as Amazon and eBay. Recently, Danaher and Rossiter (2011) stated that telemarketing and door-to-door personal selling has high potential to negatively impact brand image of a company and also tends to have low response rate. This means that telemarketing has also become less important recently. It should be, however, noted that even these traditional forms have only become less important in developed nations. Biggeman and Fam (2011) observed that all of the aforementioned traditional forms are still widely important in the case of emerging economies. Regardless, eventually these forms of marketing will most likely be the first to become unimportant in the digital age.
———— references here ______
http://automatedbuildings.com/news/sep11/columns/110826030404mandrusiak.html
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(1) http://mashable.com/category/social-networking/
(2) http://en.wikipedia.org/wiki/Online_advertising
(3) ^ Howard, Theresa (2005-06-23). “USAToday: Viral advertising spreads through marketing plans”. USA Today. Retrieved 2010-05-27. June 23, 2005, 2005
(4) ^ “Viral Marketing”. Night & Day Graphics. 30 July 2012. Retrieved 6 October 2012
(5) presentation by Dr Haidar Al Yousuf, Director of HFD, DHA
(6) http://www.sas.com/en_us/insights/big-data/what-is-big-data.html
1. http://www.sas.com/resources/asset/Big-Data-in-Big-Companies.pdf
Davenport and SAS Institute Inc.
Big Data in Big Companies, Date: May 2013
Authored by:
Thomas H. Davenport
Jill Dyché
2. http://vertica.com/wpcontent/uploads/2012/05/Vertica_SocialMedia_Whitepaper.pdf
Leveraging Social Media Analytics for Competitive Advantage May 2012
3. Social Media and Big Data, Number 460 March 2014 ,House of Parliament, Parliamentary office of science and technology
4. http://wic.litislab.fr/2013/slides/virgilio-keynote-www2013.pdf
Exploring Big Data in Social Networks, INWEB – National Science and Technology Institute for Web
Federal University of Minas Gerais – UFMG
May 2013
5. http://www.immr.org/how-big-data-is-reshaping-marketing.pdf
How Big Data is Reshaping Marketing
July 29, 2013
Dr. Phil Hendrix
Director, immr and GigaOm Research analyst
6. http://toolkit.smallbiz.nsw.gov.au/part/27/138/647
7. https://www.purdue.edu/discoverypark/cyber/assets/pdfs/BigDataWhitePaper.pdf
8. http://www.exacttarget.com/blog/big-data-social-media/
9. http://www.wewanttraffic.com/emarketing/advantages.aspx
10. http://www.ibmbigdatahub.com/sites/default/files/whitepapers_reports_file/Moving_up_digital_marketing_maturityIMW14658USEN.pdf?S_TACT=109HF63W&S_CMP=_bdhub
IBM Software
Digital Media
Thought Leadership White Paper
Moving up the digital marketing
maturity with big data analytics
Using the four “rights” to discover insights and deliver relevance
11. https://marketingstick.com/blog/advantages-disadvantages-social-media/
12.
5 Benefits of Viral Marketing for Businesses

http://business.lovetoknow.com/wiki/Disadvantages_of_Viral_Marketing

Skills

Posted on

March 7, 2018

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