"By establishing your cyberworld credibility in advance and earning the respect of savvy Web-oriented consumers who are well versed in the conversational lifestyle online, you gain profitable allegiance whether or not a crisis situation ever arises." p. 158
This is saying that if you were to earn the respect of and get a good reputation online from other consumers, down the road if anything were to occur you have their respect.
"While near-term ROI is not out of the question, your focus should remain squarely on long-term ROR (return on relationship)." p. 162
Return on Investment is important, but your main focus should remain on long term return on relationship because customer loyalty in the long run is more important than the investment you put in.
"In the end, our goal could be simply stated: Grow the customer base and its spending level while minimizing the cost to motivate actions to make it happen." p. 170
This statement is saying our goal is to maximize customer base, which is mainly made up of returning costumers and at the same time try to minimize the cost of trying to do so.
"We looked at buying patterns, types of products initially purchased compared to what was bought later, the favored channels, the interval between purchases, and a firmographic description of the consumer." p. 171
Firmographic – allow marketing researchers to determine what segments exist in the overall population, and also to help create a picture of characteristics the consumer has. These can later be used to help develop a marketing plan.
"Thanks to the emergence of newer social platforms like Twitter, life-streaming tools like FriendFeed, Posterous, and Tumblr, and video-streaming services like Ustream and Justin.tv - online conversations can now take place in real time." p. 161 Identify some of the lesser known applications mentioned here, or in our Sociable menu on the blog, and give a quick summary of what they do.
FriendFeed allows your friends to share, discover and discuss photos, videos, music or interesting things your family or friends find.
Posterous is a simple blogging platform for people to share their thoughts, photos, videos and other blogs they find quick and easily.
Tumblr is a microblogging platform that focuses on being very simple to use.
Ustream and Justin.tv are both platforms meant for individuals to broadcast live videos for the public to see.
Reddit is a social news site for registered users to post links. Registered users vote for the post that makes it to the main page or down vote the links causing them to fall.
"If the Web is the centre of the universe and customers are using it to outmaneuver competitors, aren't human beings on the telephone dispensable?" p. 174
This statement is basically saying that we don’t need salespeople anymore because of how popular the web is now. Why do we need salespeople if they can find our product online by themselves. Humans are not dispensable. Communication and service is important for business to business and dedicated people do it the best. The marketing environment is changing but the need for basic human needs have not changed.
"Marketers should heed the fact that a single consumer response to a call to action (i.e., an ad hoc response), does not denote permission for ongoing interaction." p. 101
Marketers need clear permission to keep going with their interaction. Marketers can get permission by using text or phone channel to make an offer with a call to action.
"Mobile marketing is not an end unto itself, but rather an extraordinary versatile new tool put at your command by extraordinary advances in technology." p. 103
Mobile marketing can be referred to in various forms and is defined as: “the use of the mobile medium as a means of marketing communication” (Karjaluoto Heikki and Leppäniemi Matti, “Factors influencing consumers’ willingness to accept mobile advertising: a conceptual model”, Int. J Mobile Communications, Vol 3, No. 3, 2005, p. 198.) However for the purposes related to internet marketing, the term relates to the use of mobile devices (cell phones) as a marketing tool. The textbook defends the end of mobile marketing and in turn states that used in the right way can greatly benefit a company as a marketing tool. Mobile marketing as a method iDirect and iBranding strategies can be very effective. The ability to send a text message directly from your company to a potential can be a valuable asset. Other considerations include figuring in how many people use mobile devices; of those users, which send/receive regular SMS texts and MMS (multimedia); and also those who access the internet and use applications.
Important considerations in mobile marketing:
Clearly defined target demographic
Product desirability
Expectations of company (goals)
However it is also considered a controversial form of marketing. The impacts of neglecting the above factors could lead to spam mobile marketing issues which ultimately are ineffective and a waste of time/money. Other issues include privacy; how are the numbers being collected and what content is being sent.
Though used properly, mobile marketing directed at specific audiences who are interested in the product, could result in increasing revenue and customer base.
"One of the most interesting findings in human decision making is that people like to make decisions collaboratively." p. 130
In terms of decision making, it is noticeable that humans tend to look to each other for opinions or experiences with a similar purchase/product. Clear examples of this are large purchases such as a house or cars. In relation to internet marketing, it refers to reviews of products on websites and social networking sites.
Virtually any product can be found online in any price range and consumers now-a-days tend to collaborate to ensure a quality/comfortable transaction. Good examples of this are on online marketplaces such as eBay or Amazon. EBay’s feedback function offers consumers a way to research the seller and see if the accuracy of the item description and the shipping speed. Sites such as Amazon allow users to post reviews of the product and their purchase experience.
Another example of collaboration is social networking sites, ex. Facebook. Nearly anything can be posted on Facebook as a group and anyone can post comments on the wall and anyone can view these.
Lastly online videos are a powerful tool where people gather to discuss products. Notable examples are YouTube and podcasts. Podcasts are particular to the Apple brand and iPod users. This method has gathered strength recently and is creating a large and dedicated following from Apple users. YouTube is strongest when the person posting the video has credibility (measured by views/subscribers). Again users can post comments to where people gather to gain knowledge.
The ability seek out information online is considerably one of the strongest tools in online shopping today. It isn’t dedicated to online shopping, however. Products that are bought traditionally (offline) can be sought out online to gain insight into the products. Collaboration is a strong tool and is prominently used today.
This is saying that if you were to earn the respect of and get a good reputation online from other consumers, down the road if anything were to occur you have their respect.
"While near-term ROI is not out of the question, your focus should remain squarely on long-term ROR (return on relationship)." p. 162
Return on Investment is important, but your main focus should remain on long term return on relationship because customer loyalty in the long run is more important than the investment you put in.
"In the end, our goal could be simply stated: Grow the customer base and its spending level while minimizing the cost to motivate actions to make it happen." p. 170
This statement is saying our goal is to maximize customer base, which is mainly made up of returning costumers and at the same time try to minimize the cost of trying to do so.
"We looked at buying patterns, types of products initially purchased compared to what was bought later, the favored channels, the interval between purchases, and a firmographic description of the consumer." p. 171
Firmographic – allow marketing researchers to determine what segments exist in the overall population, and also to help create a picture of characteristics the consumer has. These can later be used to help develop a marketing plan.
"Thanks to the emergence of newer social platforms like Twitter, life-streaming tools like FriendFeed, Posterous, and Tumblr, and video-streaming services like Ustream and Justin.tv - online conversations can now take place in real time." p. 161 Identify some of the lesser known applications mentioned here, or in our Sociable menu on the blog, and give a quick summary of what they do.
FriendFeed allows your friends to share, discover and discuss photos, videos, music or interesting things your family or friends find.
Posterous is a simple blogging platform for people to share their thoughts, photos, videos and other blogs they find quick and easily.
Tumblr is a microblogging platform that focuses on being very simple to use.
Ustream and Justin.tv are both platforms meant for individuals to broadcast live videos for the public to see.
Reddit is a social news site for registered users to post links. Registered users vote for the post that makes it to the main page or down vote the links causing them to fall.
"If the Web is the centre of the universe and customers are using it to outmaneuver competitors, aren't human beings on the telephone dispensable?" p. 174
This statement is basically saying that we don’t need salespeople anymore because of how popular the web is now. Why do we need salespeople if they can find our product online by themselves. Humans are not dispensable. Communication and service is important for business to business and dedicated people do it the best. The marketing environment is changing but the need for basic human needs have not changed.
"Marketers should heed the fact that a single consumer response to a call to action (i.e., an ad hoc response), does not denote permission for ongoing interaction." p. 101
Marketers need clear permission to keep going with their interaction. Marketers can get permission by using text or phone channel to make an offer with a call to action.
"Mobile marketing is not an end unto itself, but rather an extraordinary versatile new tool put at your command by extraordinary advances in technology." p. 103
Mobile marketing can be referred to in various forms and is defined as: “the use of the mobile medium as a means of marketing communication” (Karjaluoto Heikki and Leppäniemi Matti, “Factors influencing consumers’ willingness to accept mobile advertising: a conceptual model”, Int. J Mobile Communications, Vol 3, No. 3, 2005, p. 198.) However for the purposes related to internet marketing, the term relates to the use of mobile devices (cell phones) as a marketing tool. The textbook defends the end of mobile marketing and in turn states that used in the right way can greatly benefit a company as a marketing tool. Mobile marketing as a method iDirect and iBranding strategies can be very effective. The ability to send a text message directly from your company to a potential can be a valuable asset. Other considerations include figuring in how many people use mobile devices; of those users, which send/receive regular SMS texts and MMS (multimedia); and also those who access the internet and use applications.
Important considerations in mobile marketing:
Clearly defined target demographic
Product desirability
Expectations of company (goals)
However it is also considered a controversial form of marketing. The impacts of neglecting the above factors could lead to spam mobile marketing issues which ultimately are ineffective and a waste of time/money. Other issues include privacy; how are the numbers being collected and what content is being sent.
Though used properly, mobile marketing directed at specific audiences who are interested in the product, could result in increasing revenue and customer base.
"One of the most interesting findings in human decision making is that people like to make decisions collaboratively." p. 130
In terms of decision making, it is noticeable that humans tend to look to each other for opinions or experiences with a similar purchase/product. Clear examples of this are large purchases such as a house or cars. In relation to internet marketing, it refers to reviews of products on websites and social networking sites.
Virtually any product can be found online in any price range and consumers now-a-days tend to collaborate to ensure a quality/comfortable transaction. Good examples of this are on online marketplaces such as eBay or Amazon. EBay’s feedback function offers consumers a way to research the seller and see if the accuracy of the item description and the shipping speed. Sites such as Amazon allow users to post reviews of the product and their purchase experience.
Another example of collaboration is social networking sites, ex. Facebook. Nearly anything can be posted on Facebook as a group and anyone can post comments on the wall and anyone can view these.
Lastly online videos are a powerful tool where people gather to discuss products. Notable examples are YouTube and podcasts. Podcasts are particular to the Apple brand and iPod users. This method has gathered strength recently and is creating a large and dedicated following from Apple users. YouTube is strongest when the person posting the video has credibility (measured by views/subscribers). Again users can post comments to where people gather to gain knowledge.
The ability seek out information online is considerably one of the strongest tools in online shopping today. It isn’t dedicated to online shopping, however. Products that are bought traditionally (offline) can be sought out online to gain insight into the products. Collaboration is a strong tool and is prominently used today.
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