SOCIAL MEDIA/CONSUMER INSIGHTS

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Q1. SOCIAL MEDIA/CONSUMER INSIGHTS. When establishing a content strategy in social media, the main aspect to take into consideration is customer insights. Facebook for Business is famous for providing a platform that considers those insights. What are the main factors (identify up to three) to consider when approaching consumer data social media? Identify and briefly describe two relevant metrics used in this type of data support strategy.

Q2 CRM/CCS. What is the role that CRM systems play in the successful CCS strategy? What is, according to Fader one common issue with them? Provide an example of CRM in any service sector. In your reflection, why is the CLV concept so hard to establish. Identify and reflect on one main reason.

Q3 PPC/SEO Explain the relationship between search engine optimization (SEO) and pay per click (PPC). Dodson when explaining the way PPC works goes on saying “Those are the product of PPC-savvy digital marketers, reaping the benefits of high click-through rates (CTRs) by paying a little extra” How does this idea play with the notion of SEO analyzed in the book and in class? In your example, show a real or hypothetical situation in which these two approaches are used in a product or business facing intense competition. In your reflection, discuss why some digital marketers are reluctant to use PPC strategies even when evidence shows otherwise

 

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SOCIAL MEDIA/CONSUMER INSIGHTS

We live in an age where information is vital. Consumers have so much choice, and so much access to goods and services that businesses can’t simply hope for buyers to find them. Instead, they need to get to know them better. The field of study is known as consumer insights, where brands seek new and interesting pieces of information about their buyers. Main factors to consider when approaching consumer data social media include: sentiment – how social media users feel about your brand and products, or your competitors` topic – see the themes and concepts most often associated with your business. Platforms – it is important to know the best places to reach potential buyers, including the social networks they use.

ecisions are capital investment decisions designed to replace older assets with newer ones (DeBenedetti, n.d.).

Regardless of the type of capital investment decision facing managers, there are usually groups of individuals, or entire departments, which are interested in pursuing one particular project over another.  Project ranking is not uncommon in today’s business environment and is dependent on the fact as to how much the specific projects would return, as well as which project has the ability to provide the business the greatest value in the shortest amount of time.  The majority of capital investment decisions are reached with specified deadlines in mind which can result in more than one step in the decision-making process being ignored.  This, coupled with rivalry within departments, can bring about poor outcomes.

After management narrows down the list of potential projects, they must then start the process of using capital budgeting decision tools to reach their final decision.  Several tools can be used; however, the most common are the payback period, net present value method, and the internal rate of return method (Noreen, Brewer, & Garrison, 2014, p. 318).

Out of the three methods, the payback period is one of the most popular due to its basic and simple calculation, although it does not factor in the time value of money like some of the other methods.  The payback period in essence allows one to calculate how long it would take for a project to recapture the cost of the initial investment (Noreen, Brewer, & Garrison, 2014, p. 327).  The calculation is simple as it is the total cost of the project divided by the estimated cash inflows expected each year.  The end result is the number of years to recover the initial cost, or the payback period. As an example, my employer used this method as a guideline when deciding which research projects should/should not be undertaken.  Although the assumption is that most research projects will generate revenue for the organization, it isn’t known how long it will take before the healthcare organization recoups the investment they initially put into the project to get it off the ground. Based on the results of the payback method, leadership will decide whether or not to accept or reject the project if the payback period is too far out of their comfort zone.

There was a case recently in which one of our research sites prop

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