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Advantages and Disadvantages
of New Media ChannelsOskari Keranen, Euan Rankin & Edward Wiese
Overview
Mintel (2012b)
Internet Usage
Social Media Demographics
Mintel (2012)
Advantages
•Demographics: Age, Generation, Relationship Status
•Geographical: Location
•Psychographic: Interests, Opinions, Attitudes
•Behavioural: Brand loyalty, Product benefits
Target the customers with ads that they are likely to respond to
Tailor the advertising to the needs of the group
Euan Likes ...
Need Recognition
Information Search
Evaluation of Choices
Purchase
Post Purchase Evaluation
Edelman (2010)
Advantages - WOM
• 58% of consumers ascribe high credibility to the information they hear from others during a WOM conversation; 50% say they are very likely to buy as a result of that conversation (Keller & Fay, 2012)
• WOM had greater reported impact on brand choice than advertising or personal selling (East et al. 2005)
• WOM two times more effective than radio advertisements, four times more than personal selling, seven times more than print advertisements (Katz & Lazarsfeld, 1955)
Disadvantages - WOM
10% Online75% Face to face
15% Telephone
(Keller & Fay, 2012)
Viral power
Consumers rule
And
Disadvantages
Time consuming
Right balance of personal and professional social media
Who is the right person for the job?
Disadvantages
I want FAST
Measures are in place, but they are changing constantly
Detrimental outcomes on physical and mental wellbeing of the employees (Prasad, 2012)
Conclusion• Target groups need to be identified
• Marketers should acknowledge outliers
• Integrating the traditional & mature media channels with New
• Measuring Time & Money
• eWOM & Personalised Marketing with emergence of Mobile