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Showing posts with the label business marketing

Mining Marketing Information from Web Conversations

Marketing in the era of the World Wide Web is still a growing field. Many great ideas came, worked for a while, declined in value, and disappeared. New technologies are always developing that provide additional opportunity and value in creating stronger methods of developing and marketing new products through understanding web conversation. Web conversation is something we see everyday but don't really notice. It is everything people put on the web when they discuss products, needs, and other opinions about ideas and concepts. It is a type of user generated content that stays on the web and is good for analysis. A study by Tirunillai and Tellis (2014) show that user generated content is ripe for market analysis. Consider the idea that you desire to understand what people are thinking about a particular product and its features. Popular products and features often develop forums that are used by interested members to analyze and discuss their ideas and opinions as they relate to

Improving Online Brands with Contextual Advertisement

All businesses must advertise to survive and those that do it effectively are likely to draw more business. Building a brand image and getting the biggest bang for your buck can be difficult in the online world where millions of companies are competing for similar markets. However, by engaging in contextual advertising it is possible to raise brand image and purchase rates through pre-selecting candidates that are already interested in your product or service (Chung, et. al. 2014).  Contextual advertising uses content matched with an advertising display such as a banner ad, video, music, etc… to attract visitors. It is most commonly offered through companies like Google AdSense, Amazon, and others that provide contextual advertising on web pages. Those who are reading a page exposed to similar advertisements that are more likely to draw their interest. The authors found that there are two factors in successful contextual advertising. The contextual prime and stimulus a

How Bloggers Foster Word-of-Mouth Marketing

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Word of Mouth Marketing (WOMM) is a method of transferring knowledge about products and services through social networks. Companies are moving toward using social media marketing methods to encourage their messages to spread into difficult to reach groups. A study of bloggers by Kozinets, et. al. (2010) shows how social media communication works within groups cultural norms. The character of the blogger takes on a new form of endorsement or criticism of products.  In 2008, companies spend $1.54 billion on WOMM initiatives and the amount is expected to increase to $3 billion in 2013 (PQ Media, 2009). The market has a positive impression of independent bloggers and social media users who promote or reject products based upon their unique perspectives.  The types of blogs vary depending on their personality. Some blogs focus on one concept in a niche market while others focus on multiple concepts. The different being the topics of interest to bloggers and what they find int

The Effectiveness of Push vs. Pull in Online Marketing

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Marketing strategy is arguably one of the major components of running a successful business. Without customers you have no sales, revenue or reason to exist. Online marketing is still in its infancy and will continue to grow and develop for the foreseeable future. A study by Spilker-Attig & Bettel (2010) analyzed the effectiveness of push and pull strategies at an online retailer by using 2.7 million orders across different price points.  People regularly confuse the subtle but important difference between marketing and sales. Marketing is the long-term oriented strategy and sales are short-term customer-specific transactions (Homburg, et. al., 2007).   Marketing focuses on a larger demographic and casts a wide net while sales is focused more on specific activities that pin-point customers.  All sales are based on interactivity between the company and its customers. Connectivity is seen as an important variable in online advertisement (Roehm & Haugtvedt, 1999).