Leading Change in Turbulent Times Executive Education Seminar BRINGING ‘MARKET’ INTO MARKETING: MARKET CHANGES, VALUE CREATION AND SOCIAL MEDIA Raj Agnihotri, PhD Assistant Professor of Marketing Director of Research at the Schey Sales Centre www.Agnihotri-Raj.com October 2013
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Leading Change in Turbulent Times Executive Education Seminar BRINGING ‘MARKET’ INTO MARKETING: MARKET CHANGES, VALUE CREATION AND SOCIAL MEDIA October.
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Leading Change in Turbulent TimesExecutive Education Seminar
BRINGING ‘MARKET’ INTO MARKETING: MARKET CHANGES, VALUE CREATION AND SOCIAL MEDIA
Raj Agnihotri, PhDAssistant Professor of Marketing Director of Research at the Schey Sales Centrewww.Agnihotri-Raj.comOctober 2013
Discuss within your group/table and come up with one of the ‘social media marketing trends’ that can be perceived as new and innovative!
What Would You Do?O que você faria?
“A global bank executive recently described to us a challenge for our times. It turns out that a customer who normally would qualify for the lowest level of service has an impressive 100,000 followers on Twitter. The bank isn’t doing much yet with social media and has no formula for adapting it to particular customers, but the executive still wondered whether the customer’s “influence” might merit special treatment.”
From: What’s Your Social Media Strategy?Wilson and colleagues (2011), Harvard Business Review
CustomerValue
Organization’sSocial Capital
Social Capital… What?
Structural DimensionInteractions to maintainSocial Structure
Relational DimensionInteractions to Build & Maintain Trust/Trustworthiness
ROI: commonly used metrics*ROI: métricas comumente usadas *
73%Customer Acquisition rate
*Gleansight: social media marketing, November 2010
Organizations can set milestones in terms of –i) Marketing efforts (e.g., number of tweets posted per week,
number of blogs written and followed, etc.) ii) Outcomes (e.g., number of leads generated through blogs)
Performance evaluation should include -iii) Objective (e.g., changes in service support costs) iv) Subjective criteria (e.g., number of referrals and/or positive
recommendations by existing customers through social networks)
86%Audience growth rate
-e.g., # of facebook fans, twitter followers, etc., per
week
77%Volume of relevant
posts/comments
81%Customer engagement rate
-e.g., # of click-thrus, registrations, etc., per week