Marketing Article Added | May 30th, 2011 | Comments Off
Marketing Article Updated | Thu, Dec 22, 2011 at 14:33
Marketing analytics professionals must define a marketing mix before deciding how social media may be used to execute a marketing campaign – or how success measures can be analyzed. Every sound marketing plan includes a well thought-out marketing mix which addresses the following four topics: product, place, promotion, and price. And this marketing mix impacts the degree to which social media may be relied upon to brand and raise awareness about a product. In fact, marketing mix will determine if – and how – Twitter, Facebook or other social media sites should even be used.
For example, offering a free product trial is a proven marketing tactic for enticing someone to purchase it. But the type of product determines how social media might be utilized to announce the trial. NuMedia Internet Inc. might send an announcement via Linkedin which includes a link that enables a limited time, a free trial of it’s electronic databases. In contrast, a winery might use Twitter or Facebook to announce the dates and times of free wine tastings and tours.
A TV and/or radio commercial – rather than a Twitter tweet – is likely a more effective means by which a retailer may announce a new store location. Traditional media ads have the best audience reach and can target individuals when they are most captive: in their car or at home, for example. Alternatively, FourSquare is an excellent channel through which a retailer might offer discounts to shoppers who are walking or driving near a location. The same business development approach may not be as effective for marketing a product or service to other businesses. A more effective tactic involves giving a promotional item (eg. mug with a logo) to a prospective client that he or she may keep and use often. A branded, reusable product can keep a company’s product or service ‘top of mind’ with a prospective client until he or she is ready to buy. Social media channels do not offer the same long-term, branding power.
Facebook, Twitter, Yahoo! Pulse or other social media sites are also not the best channels through which to promote complex, technical products. For example, the thermal properties, weight and tensile strength of recycled plastic lumber are best communicated via a printed brochure – before, during or after a sales call. On the other hand, Facebook may facilitate an online community where plastic lumber users can share their experiences working with it – posting final product photos or tips about how to saw it, for example. The same is true for expensive, high-involvement items such as cars or homes. Social media channels may help generate brand awareness that leads one to personal communication with a salesperson or product research tools. However, high involvement purchases always require a great degree of human interaction and research – long after communication is first received.
The product, place, promotion, price components of the marketing mix are key drivers of how – and whether – social media may be used to execute a marketing plan. After these four marketing elements are clearly defined, social media’s marketing value can be established. When the appropriate social media channels are selected – and success metrics defined – a marketing analytics professional can begin to measure a marketing campaign using Google Analytics and other online tools.
Written by tumbleweedmarketresearchanalyst
Analytics Courses and Events
- Top Tablet Google Adsense Ads - Week of May 18, 2013BlackBerry® PlayBook™ www.telus.com/playbook Ultra-Thin & Ultra-Portable. GetYours on the TELUS 4G LTE Network. Nexus 7 from $209 www.google.com/nexus Now more portable than ever withmobile data. 7" Android 4.0 Tablet $59 www.focalprice.com/tablet Dual-Core 1.6GHz Android 4.0 TabletBest Value, Free Shipping. Buy Now! Tablet Hotels™ Site www.tabletho […]
Analytics and Data Analysis Links
© 2013 Read Analytics and Data Analysis Blog News