Chapter 1Benson CalixteJaclyn LasPata

Learning objectives1. What are social media? How are social

media similar to tradition media? (pg. 2-4)

2. What are major zones associated with social media? (pg. 4-7)

3. What is Web 2.0 and what are its defining characteristics? How does Web 2.0 add value to web 1.0? (pg. 7-10)

Learning objectives (cont.)4. Social media value chain? How does it explain

relationships? What activities do individuals participate in using social media? (p. 10-14)

5. What is social media marketing? What role does participation play in social media marketing? (p. 14-15)

6. What marketing objectives can organization meet when they incorporate social media in their marketing mix?

Key terms (68 total)1-17 18-34 Advertising Apps Blogs Business model Cloud computing Connections Crowdsourcing Deal aggregators Deal sites Device native Display ad Earned media Entertainment communications Facebook Connect Forums Horizontal revolution Interruption-disruption

LARA framework Marketing Media Media sharing sites Medium Message boards Microblogging sites Micromarkets Microshare Microsharing sites Network effect Niche products Owned media Paid media Perpetual beta Psychic media Public relations

Key Terms (cont.)35-51 52-68 Radical trust Reputation economy Revenue stream Reviews and ratings Sampling Scalability Search advertising Search engine marketing Social commerce Social entertainment Social games Social identity Social media Social media marketing Social Media Value Chain Social networking sites Social presence

Social services Social shopping markets Social software Social storefronts Social utility Tag cloud Tags Taxonomies Tradigital marketing Vehicles (media) Virtual worlds Widgets Wikis Word-of-mouth communication

Facebook and Youtube fun factsDid you know: If Facebook was a country it would be

the 3rd most populated in the worldAbout 76.8% of Facebook users reside outside of U.S.1 Billion pieces of content are shared on FB daily

Youtube users upload more than 35 hours of video every minute of every day. This is the equivalence of 176,000 full length movies on a weekly basis

In just 30 days on Youtube more videos are broadcasted than the last 60 years on CBS, NBC, and ABC combined

Table 1.1 – Mind Boggling Social Media StatsYears it took for each of the mediums listed

below to reach 50 million usersIt took radio 38 years. TV took 13 years. The internet took 4 years.It Facebook under 9 months to add on 100

million users.

Table 1.1 – Mind Boggling Social Media Stats (cont.)Social media activity has overtaken porn as the

number 1 online activity80% of companies use LinkedIn as their

primary recruiting tool25% of search results for the world’s top 10

brands point to user-generated contentIf you were paid $1 for every time an article

was posted on Wikipedia, you would earn $36.58/hour

1 Out of 6 couples who married last year met on a social media site

Table 1.1 – Mind Boggling Social Media Stats (cont.)40% f Twitter usage is from mobile devices

and 17% of users have tweeted while on the toilet!

What is Web 2.0An interactive system that is available to us

24/7. An advancement from Web 1.0 (one-way

communications device)

Horizontal revolution – information flows across people, as opposed to information passed down to the masses via government

Web 2.0 CharacteristicsWeb is the platform

User participation User-generated content Crowdsourcing

User-defined contentNetwork EffectsScalabilityPerpetual betaReputation Economy

Figure 1.1 – Social Media Zones

Figure 1.2 Social Media Zones & Exemplar

Figure 1.3 – The Social Media Value Chain (Components of Social Media)

Infrastructure of Social MediaSocial softwareDevicesPeopleBusiness models and monetizationPsychic Income

5 P’s of MarketingProductPricePromotionPlaceParticipation

Marketing’s newest P, ParticipationSocial media marketing – the utilization of

social media technologies, channels, and software to create, communicate, deliver, and exchange offerings that have value for an organization’s stakeholders

http://www.youtube.com/watch?v=C-LmNRpAtv0

Figure 1.4 – The Evolution of Marketing Communications

Figure 1.5 – Brand Application Across Social Media Zones

3 Core Types of MediaPaid media – space purchased to deliver brand

messages and securing endorsementsEx. Tv commercials, radio ads, magazine print ads,

newspaper ads, billboards, internet display ads, and search engine marketing

Owned media – channels that brand controls. Ex. Corporate websites, e-commerce sites, corporate

blogs, advergames, and ARGsEarned media – messages that are distributed at

no direct cost to the company and by methods beyond the control of the companyEx. Word-of-mouth

LARA FrameworkListen to customer conversationAnalyze conversationsRelate information within enterprise systemsAct on customer conversations

Table 1.2 - Types of Media

Table 1.3 – Jobs in Social Media (10) (p. 21-24)

Social Media EditorSocial Media Marketing ManagerMarketing and Communications AssociateProject Social Media ManagerSocial Media Communications ManagerSocial Media CoordinatorOnline Communications and Social Media DirectorSocial Media Communications SpecialistSocial Media InternSocial Media Strategist

New story“What’s wrong with social commerce”Research conducted amongst adult shoppers                  Social media not designed for,  e-commerce sites areInfluencing factors too powerfulVast influence on sales therefore it would cause friends

of friends to want to precise from 1 company, isolating it from others

Social media already driving up revenue/increasing sales

http://www.pymnts.com/news/social-commerce/2014/whats-wrong-with-social-commerce/#.VD1aRvldUaw

Video: Social Media’s Impact on Businesshttp://www.youtube.com/watch?v=yDA864Us

kXc

Conclusion1. Social media are the online means of

communication. Like traditional media, social media includes several channels, and specific vehicles.

Ex: Social Media = channel, Twitter = vehicle

2. Major zones associated with social media are (1) social communities, (2) social publishing, (3) social entertainment, (4) social commerce.

Ex: (1) Twitter. (2) Blogger. (3) Come2Play. (4) TripAdvisor

Conclusion (cont.)3. Web 2.0 fundamentally changes the

consumers role as well as the role of the provider in delivery of information, entertainment, and communication tools.

Ex: Participation (5th P of Marketing)

4. Social media value chain explains that social media is made up of core activities and supporting components.

Ex: Channels/Hosts

Conclusion (cont.)5. Social media marketing is the use of social

media to facilitate exchanges between consumers and organizations.

6. Marketing objectives that can be used when incorporating social media. These objectives consist of, branding and promotion, research, and customer service and relation

Work Cited (5)1. “Social Media Marketing”,

Tracy L. Tuten, Michael R. Solomon

2. http://www.slideshare.net/brandacity/social-media-marketing-the-text-chapter-1

3. http://www.youtube.com/watch?v=yDA864UskXc

4. http://www.youtube.com/watch?v=C-LmNRpAtv0

5. http://www.pymnts.com/news/social-commerce/2014/whats-wrong-with-social-commerce/#.VD1aRvldUaw