Effective Strategies for Paid Media and Digital Marketing
School
The University of Hong Kong**We aren't endorsed by this school
Course
MKTG 3511
Subject
Marketing
Date
Dec 11, 2024
Pages
5
Uploaded by PrivateUniverse100234
Paid MediaTradition Paid Media●Print●Broadcast●Out-of-home●Online media●Other traditional or alternative formsTVAdvantagesLimitationsExcellent creativity and impactHigh coverage and more cost-effectivenessHigh captivity and attentionSelectivity and flexibilityHigh costsLack of selectivityFleeting messageClutterLimited viewer attentionZipping: Fast-forward through commercialswhen playing back a previously recordedprogram.Zapping: Changing channels to avoidcommercials.Distrust and negative evaluation.Television householdProgram ratingShare of audienceTotal audienceUsing a Nielsen RatingsRadioCost and efficiency Receptivity Selectivity Flexibility Mental imageryPrint MediaNewspaper, MagazineCan be processed at reader’s own paceHigh-involvement mediaNewspaper:broadaudience, Magazines: specific types of consumers andmarket segmentTerms for magazine:Primary circulation- copies distributed to original subscribers or purchasersPass-along readership: publication is read in waiting rooms airplane etc.
Types of Newspaper AdsDisplay Ad:Visual with imagesClassified Ad:Texts, limited space, according to specific product/serviceSpecial Ad and inserts: Financial reports, noticesOut of Home Advertising (OOH)Billboards, street furniture, place-based media, and transit advertisingProduct PlacementIntegrating a branded product or service into the content of a film, television show, videogame, or other mediaGuerrilla MarketingAnunconventionalmarketing strategy that aims to promote products or services inuniqueand memorable ways, often with limited resourcese.g. Street arts, social media challengeDigital MarketingDisplay AdsBanner, pop-up, pop-under , pre-rollsSearch AdsThe higher a site appears on search page, more visitor it will receiveNon-organic, pay-per-click.SEO: organic traffic
Source of Information – Landing Page OptimizationCreate awareness, Generate interest, Disseminate information, Create an image, Create astrong brand, Stimulate trial, Create buzz, Gain considerationTargetingBased on advertisers’targetingconsumers bytrackingtheirwebsite surfing behaviorsBrands placebidsto purchase ad spaceRetargeting: Ads follow a website user and are displayed on every participating subsequentwebsite the user visitsTypes of New Media●Forums, Discussion boards●E-mail●Social networking sites e.g. facebook linkedin, twitter●Content aggregators e.g. youtube●Online gaming●BlogsSocial Media●To gain information●Entertainment●Remuneration●How marketers use social media:○Drive traffic to one’s site○Communicate with customers○Gain brand exposure
Influencer Marketing1. Herd InstinctDefinition:Herd instinct refers to the tendency of individuals to follow the actions and behaviors of alarger group. In marketing, this concept is particularly relevant as it explains how consumersoften make decisions based on what others are doing or promoting.Application in Influencer Marketing:●Social Proof:Influencers can create a sense of social proof by showcasing productsor services, leading their followers to feel compelled to try them as well.●Trends:When an influencer promotes a particular trend or product, their followersmay feel a desire to conform and join in, believing that they are part of a largercommunity.●FOMO (Fear of Missing Out):Influencers can drive urgency and encouragepurchases by highlighting how popular a product is, tapping into consumers' herdinstincts.2. Behavioral vs. Attitudinal LoyaltyDefinitions:●Behavioral Loyalty:This refers to the actual purchasing behavior of consumers,indicating how often and consistently they buy a particular brand or product.●Attitudinal Loyalty:This represents the emotional connection and commitment aconsumer has toward a brand, which may or may not translate into purchasingbehavior.Application in Influencer Marketing:●Building Loyalty:Influencers can help foster both types of loyalty. For example,consistent product promotion by an influencer can lead to behavioral loyalty asfollowers start purchasing the product regularly.●Emotional Connection:By sharing personal stories and experiences related to abrand, influencers can cultivate attitudinal loyalty, making followers feel connected tothe brand's values and mission.3. Key Opinion Leaders (KOLs)Definition:Key Opinion Leaders are individuals who have significant influence over others' opinionsand behaviors, often recognized as experts or authorities in their field. They can becelebrities, industry experts, or well-respected figures within specific communities.Application in Influencer Marketing:
●Authority and Trust:KOLs can enhance brand credibility by endorsing products, astheir followers often trust their recommendations due to their expertise.●Targeted Influence:Brands can collaborate with KOLs who align with their targetaudience to effectively reach specific demographics and niches.●Long-Term Relationships:Building partnerships with KOLs can lead to moreauthentic and sustained marketing efforts, as they often have a loyal and engagedfollowing.4. AIDADefinition:AIDA is a marketing model that outlines the stages a consumer goes through wheninteracting with a brand or product. It stands for Attention, Interest, Desire, and Action.Application in Influencer Marketing:●Attention:Influencers capture the audience's attention through engaging contentand visuals.●Interest:They generate interest by showcasing the product’s benefits and features,often through storytelling or personal anecdotes.●Desire:Influencers can create a desire for the product by highlighting its value andhow it meets the audience's needs or aspirations.●Action:Finally, they encourage followers to take action, such as making a purchase,by providing direct links or promotional codes.5. Business ValueDefinition:Business value in the context of influencer marketing refers to the overall impact thatinfluencer collaborations have on a brand's objectives, including increased sales, brandawareness, customer loyalty, and market positioning.Application in Influencer Marketing:●ROI Measurement:Brands need to evaluate the return on investment (ROI) ofinfluencer campaigns by tracking metrics like sales, engagement, and brandsentiment.●Strategic Partnerships:Collaborating with influencers who align with the brand'svalues can enhance business value by reaching new audiences and improving brandreputation.●Long-Term Growth:Effective influencer marketing can contribute to sustainedbusiness value through increased brand loyalty and a strong community of engagedcustomers.