BHO0257 – Digital and Social Media Marketing Sample

Introduction:

The impact of social media is widely recognized in the case of marketing in the digital age. The use of social media and content promotion as effective means for marketing products and services of an organization could be apprehended from the use of the internet in a minute in 2017 for different services, social media sites, and interactive messaging platforms. Almost every minute, there are 900,000 logins on Facebook, 3.5 million search queries, and 16 million text messages on WhatsApp as well as the creation of 120 new accounts every minute on LinkedIn and 70,017 Netflix hours watched (Alan & Kabadayı, 2016). This indicates the expanse of the internet in terms of user base thereby suggesting its potential to provide marketing opportunities.

According to Bharati, Zhang & Chaudhury (2015), the differences between traditional and new media for marketing could be largely associated with the influence of the Internet in promoting unconventional marketing approaches (Bharati, Zhang & Chaudhury, 2015). The implications of digital marketing could also be reviewed from the theoretical perspective related to marketing such as marketing mix and consumer behavior implications. The following report is aimed at critical evaluation and discussion of the significance of social media in the development of a targeted marketing strategy and online competitive advantage. The particular highlights of the report are vested in the understanding of the impact of social media on societal perceptions, customer relationships, consumer behavior, and approaches for influence.

The particular aspects that could be apprehended as learning outcomes from the report include the identification of the relevance of key marketing concepts in digital marketing. The recognition of the impact of digital technology in terms of nature, implementation, outcomes, monitoring, and management of marketing function and the customer could also be accounted as an important aspect of the report. Furthermore, the report also aims to reflect on the significance of ICTs in the development and management of customer relationships.

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Issues with Digital marketing:

The prominence of digital marketing is accompanied by prominent references to the resistance to change that is observed at organizational and individual levels. The resistance to digital marketing from an individual perspective could be observed in the form of economic factors, job security, and selective information processing (He, Zha & Li, 2013). The organizational factors which affect the resistance to change can be identified in the form of resource allocation, the limited focus on change, and group inertia.

The effect of privacy concerns in the domain of social media marketing could be verified based on the depreciation of online privacy since the content and data posted by users on social media are monitored consistently (Hofacker & Belanche, 2016).

As per Birim (2016), Despite the prominence of government-based regulatory frameworks such as copyright patents, the Stop Online Piracy Act (SOPA), and the conflict between privacy and personalization, the concerns for the management of data on social media platforms have been complicated by the introduction of Big Data that is used for developing insights into customer behavior (Birim, 2016). These factors could also imply a violation of the ethical privileges of social media users thereby predicting a formidable pitfall for digital marketing.

Digital marketing strategy:

The necessity for a strategic approach to digital marketing is perceived in the theoretical perspectives of strategy formulation for marketing. According to Kumar, Saravanakumar & Deepa (2016), the conventional perception related to internet marketing as followed by the majority of companies is based on adjustments in the existing marketing strategy that could adapt to the online environment (Kumar, Saravanakumar & Deepa, 2016). The principles of online marketing are aligned with that of offline marketing precedents such as a focus on target groups, positioning, differentiation, and segmentation. Organizations need to anticipate the long-term outcomes that can be facilitated by social media and digital platforms in marketing communications rather than emphasizing the short-term tradeoffs.

The focus of organizations in the digital marketing age should be inclined toward the identification of sources that can be leveraged for accomplishing online competitive advantage. A strategic approach to digital marketing would have to be characterized by a clear anticipation of the potential applications of new technology and the significance of market research to comprehend personal weaknesses and strengths as well as that of competitors (Liu, Shi, Elrahman, Ban & Reilly, 2016). The strategic framework in digital marketing could be characterized by four distinct elements such as awareness, appreciation, advocacy, and actionability. These specific factors imply different sub-entities such as platform mix and supply chain management in the actionability dimension refers to the marketing mix and optimal configuration of partners and activities.

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The appreciation factor associated with the strategic framework for digital marketing refers to the determination of the ideal customer profile and communication. The awareness implications of the strategic framework in social media marketing refer to the delivery model and technology implemented for the delivery of digital marketing approaches (Mahadi, Jamaludin, Johari & Fuad, 2016). The advocacy dimension in the strategic framework could be identified in the form of organizational capabilities and key performance indicators for validating the return on investments in digital marketing. It can be imperatively observed that each of the entities involved in the strategic framework for social media marketing has distinct applications such as appreciation’s significance in recognition of potential customer base and improving communication through messaging and two-way feedback.

The actionability dimension in the strategic approach is related to the estimation of the marketing mix for the products and services of an organization as well as the optimal reconfiguration of partners and business processes. These factors present notable references to the key concepts associated with marketing such as marketing mix, consumer behavior, and customer relationship management as applied in conventional marketing frameworks.

The strategic framework that should be implemented in the case of social media marketing has to be aligned with the emergence of new online tools and the evolution of marketing paradigms. The nature of social media has to be anticipated comprehensively to frame the steps for implementing a new social media marketing strategy. Social media could be characteristically associated with a mindset, a process, and a set of particular tools that are integrated into social media and content marketing.

Social business has evolved as a contemporary form of digital business with the gradual progress from the interactive use of digital platforms, the proliferation of digital media such as the internet, transactional platforms such as e-commerce websites, and the use of social media for human interaction ((Liu et al., 2016). The prominent use of social media across the globe and the increasing preferences for mobile usage of social media led to the proliferation of social business prospects. Therefore a social media strategy could comprise five essential steps that would help in guiding the marketing approach of an organization.

The first step involved in the formulation of a social media marketing strategy is to identify the objectives for the strategy and in the case of social media marketing the general objectives could be recognized as website traffic, product sales, engagement, page growth, video views, and app downloads (Mahadi et al., 2016). The next step involved in the social media strategy comprises crucial references to the development of a content strategy. This stage in the social media strategy of an organization comprises determining the nature of content that could be best suited to accomplish its business goals, potential networks for involvement to accomplish goals, and the allocation of budget for promotional activities.

The fourth step involved in social media strategy refers to metrics and monitoring which could be realized through the utilization of appropriate tools and applications for evaluation of results and tracking of progress. Organizations should be able to anticipate the best practices in terms of content performance and derive appropriate inferences for the application of social media strategy (Parveen, Jaafar & Ainin, 2015).

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Social media marketing mix:

The marketing mix for digital marketing initiatives could be based on the four distinct elements of price, product, place, and promotion which characterize the marketing environment in the digital age.

Product development in the context of social media marketing has been largely based on the use of the internet to add value to existing products and the development of digital products implying reforms in delivery and usage models. As per van, Lemmens & Valkenburg (2016), the product aspect in the marketing mix for the digital environment also implies the drastic changes in the models for payment which can be identified in the form of bundling, payment per use, and subscriptions (van, Lemmens & Valkenburg, 2016). Furthermore, the product aspect in the digital marketing mix involves references to the diversification of product range with the increasing prominence of e-retailers.

The pricing aspect of the marketing mix for social media marketing comprises formidable references to the growth of market share effectively through online mediums. The pricing aspects could be improved in the case of social media marketing through the addition of value to the existing products, services, and the brand reputation through anticipation of customer insights. The provision of discounts and coupons based on the analysis of customer behavior could be accounted as a major highlight of the marketing mix in the context of social media marketing.

The place aspect of the marketing mix in social media marketing could be observed in the provision of marketing services through appropriate channels on social media. According to Parveen, Jaafar & Ainin (2015), the prominence of content-based platforms and the effectiveness of market research in predicting the targeting options for particular products and services could be accounted as flexible sources for determining place dimension in online marketing (Parveen, Jaafar & Ainin, 2015). The classic profile-based demographic segmentation, web design personas, channel preference, and the response behavior of customers are accounted as feasible targeting options for online customers. The positioning or place dimension in social media marketing is also reflective of the differentiation of the product from that of competitors.

The promotion aspect in social media marketing would be profoundly indicative of the applications of social media for effective branding. It is observed that social media facilitates quick opportunities for the development of smaller and generic brands albeit being associated with numerous setbacks (Mahadi et al., 2016).

The promotion element of the marketing mix in the context of social media is dependent on the consistency of the marketing campaign in the form of profile consistency, voice consistency, and visual consistency. The aspect of consistent branding helps an organization to impose a positive first impression on customers thereby realizing the development of an effective online brand. The promotion aspect concerning social media marketing refers to the communication of the brand’s associations effectively on a digital platform.

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Customer behavior:

It is imperative to consider the varying profiles of customers encompassed in the domain of social media marketing and determine the online behavior of customers. The crucial nature of online behavior and its association with motivation could be determined from research on the motivation, selection processes, and preferences for media consumption (Kumar, Saravanakumar & Deepa, 2016). These factors are considered precise indicators of the approach followed by customers for the utilization of digital channels.

The significant aspects of customer behavior could be reflective of the identity of online customers, their behavior patterns, online identity and involvement of customers, and requirements of online customers. The distinct psychological profiles observed in the case of online customers could be reflective of distinct behavioral patterns. The brand-oriented visitor profile encompasses customers that are focused on brand identity, trends, and peers’ social pressure. The behavior of customers in this profile is primarily characterized by impulsive buying wherein rational parameters for purchase decisions such as practicality, ease of use, and price are often undermined.

Another psychological profile that can be observed in the case of online customers is that of a rational visitor which implies the formulation of purchase decisions based on a two-pronged approach (He, Zha & Li, 2013). One of the aspects that characterize the purchase decision of a rational visitor involves a rejection of options that do not meet their price requirements and the evaluation of costs as compared to benefits in the case of the remaining alternatives. The behavior of this category of customers is based on the logical argument as a valid approach to base their decisions without emphasizing emotions in the decision-making process.

The maximizer profile in online consumers is associated with the inclination towards making the best possible choice from the available options and the motivation for such kind of behavior is observed in the apprehension of making a bad decision (Bharati, Zhang & Chaudhury, 2015). The multitude of options available for customers on online platforms creates complexities for the maximizer. The purchasing decisions are derived through the streamlining of options, refining and limiting each row for determining default suggestions for purchase.

The satisfier profile of online customers could be observed in the psychological profiles of online customers. The satisfier profile is associated with basing a purchase decision on the grounds of the first product which can fulfill the immediate or minimum prerequisites. The purchase decision of the satisfier profile of online customers is associated with clear filters for identifying the right products and is based on taking action based on the fulfillment of basic criteria.

The online customer behavior profile of the hesitator could be characterized by the element of risk avoidance. These types of customers are less likely to make viable purchase decisions on the first attempt since they are liable to be confused with the multitude of choices. The purchase decisions are also influenced by the requirement of constant feedback and appraisal for different steps taken in the decision-making process.

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Some other forms of customer behavior on the online platform could be observed in the form of keyboard warriors, cyber bullies, and online trolls which have a substantial role in improving the potential of digital marketing channels to realize organizational objectives. The negative customer behavior could also act as a viable substrate for defining the online behavior of individuals.

Some of the prominent factors that are capable of altering online behavior refer to personal and environmental factors, marketing stimuli, and the web experience. The web experience is subject to personal control thereby implying the potential for altering web experiences to suit the customer’s needs (He, Zha & Li, 2013). Some of the notable factors which are associated with web experiences could be identified in the form of psychological factors, functionality factors, and content factors which can be leveraged for converting potential customers into actual customers.

The understanding of customer behavior provides viable insights into the formation of a model for Internet marketing conversion. The two crucial inferences that can be derived from an analysis of online customer behavior include audience-specific measures and performance drivers. The performance drivers could imply the institution of awareness efficiency, engagement efficiency, conversion efficiency, and attraction efficiency. The audience measures include references to the active visitors, target audience, repeat visitors, and unique visitors followed by key outcomes desired from the internet marketing conversion process.

CRM and monitoring of strategy:

The interconnectivity of customer relationship management in the context of social media marketing with the implications of customer behavior is imperatively observed. Therefore, it is essential to implement monitoring frameworks for an audit of customer behavior and market research as well as the outcomes of the social media strategy (Mahadi et al., 2016). The monitoring applications such as clickstreams and the statistics derived from their aggregation could be considered effective measures to note down customer behavior insights.

The calculation of responses to the social media marketing strategy is essential for an organization to ensure a consistent brand approach and reputation. One of the prominently accepted frameworks for monitoring the performance of a digital marketing strategy refers to the customer relationship management frameworks that enable organizations to acquire real-time insights into the effectiveness and reach of the digital marketing strategy of an organization (Parveen, Jaafar & Ainin, 2015). It is also imperative to note that the anticipation of customer needs and demands could be possible through a comprehensive analysis of customers and an inward focus on marketing to apprehend the strengths and weaknesses concerning similar contexts.

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The sustainability of an organization is dependent on targeted offers, cross-selling, identification of optimal prospects, channel support, suggestions for channels of contact, management and addressing responses, and interactive marketing. The significance of the usage of information in online environments should also be considered in the context of the requirements to measure the success of the firm’s social media strategy.

Information is utilized for the development of one-to-one marketing communications, recognition and service of customers, and the creation of management information. These outcomes can be aligned with the organizational objectives of digital marketing through a CRM framework that provides opportunities for customer care, promotions, development of customer relations, and addressing the information and complaint resolution needs of customers (van, Lemmens & Valkenburg, 2016). The CRM framework could also be responsible for promising outcomes in the form of prospects to generate management information through the approaches of data aggregation and modeling.

The requirement for measurement and monitoring precedents in the context of a digital marketing strategy could be observed in the impact of information for the benefit of an organization. Information acquired from CRM systems could be accessed in better-processed and packaged versions with credible levels of quality (Parveen, Jaafar & Ainin, 2015). The inferences drawn from outcomes of CRM can be productive for improving the efficiency of decision-making through appropriate preparation, analysis, interpretation, and pragmatic utilization. The decision-making process also obtains plausible benefits in the form of limited redundancy and uncertainty as well as managerial assumptions intended for a digital marketing strategy.

The inferences from the measurement of social media strategy could also provide a clearer impression of the facts about managerial decisions, a product, or a specific market. However, it is also imperative for organizations to consider the setbacks that could arise in the case of information management frameworks to determine how social media affects consumers’ buying decisions and customer relationships. Some of the notable issues identified in the case of data management include the backward application of database management and unawareness regarding the operations of the databases.

Conclusion:

The report reviewed the development of a social media marketing strategy concerning the key concept of the marketing mix. The use of customer behavior analysis for framing suitable approaches to social media marketing can be identified in the form of different psychological profiles of online customers highlighted in the report. The report also focused on the application of customer relationship management information systems to ensure suitable monitoring and measurement frameworks for the digital marketing strategy.