HOW SOCIAL MEDIA MARKETING AFFECTS THE MARKETING OUTCOME OF NEW RESTAURANTS? IN-HOUSE SOCIAL MEDIA MARKETING VS. OUTSOURCE HOUSE SOCIAL MEDIA MARKETING I. INTRODUCTION According to a study conducted by Samuel et al., the causal relationship between sharing and purchasing online depends on the individual customer and the individual purchase. "In some instances, social sharing is only a weak indication of intent; in other cases, social sharing leads directly to the cash register". The study also examined that "purchase intent is intimately linked to purchase discovery. Not surprisingly, spontaneous purchasing correlates with spontaneous discovery: 41% of people who found the item they purchased because they just happened upon it said that they hadn’t even thought about buying it or something like it. Conversely, 88% of people who found the item they purchased by searching for it were already thinking about buying it or something like it. It’s hard to get surprised by a find when you’re actively looking for it." Social purchasers are 87% of Facebook purchasers who visit the site at least once a day or more often vs. 70% of social media users. 68% say their Facebook posts generate more like and comments vs. 54% of social media users. 75% of Facebook purchasers say they're asked for advice on their friends' buying decisions (Samuel, Sevitt, Lam, Loh, 2013). Previous research has "demonstrated that traditional media publicity can affect marketing outcomes." Stephen and Galak discussed that "there has been a growing interest in understanding how word-of-mouth (WOM), particularly online WOM (which is a form of social media), impacts sales, diffusion, and other marketing performance measures. Godes and Mayzlin (2004) examined how o... ... middle of paper ... ...rence between the two is the cost. If the company has enough resources in terms of people and time, in-house marketing can be an effective way to boost their presence online. On the other hand, if the company has less manpower and has no luxury of time but has a budget, outsource social media marketing is the way to go. Despite the huge competition among new players in the restaurant industry, some restaurants with a good presence online thrive and penetrate successfully the mainstream market. In the information society, the convergence of traditional and social media outlets is very obvious since one cannot function without the other. Old media and new media are both part of an integrated media system that somehow exudes an independent marketing outcome based on the market segments. A network representation of media interdependence now exists in the digital age.
Social media is a key tool that has changed both our everyday lives and the way we do business. In the modern world, almost everyone who has a smart phone – and most of those who have computers - also hold accounts on a social media company. Currently, In N Out Burger and Shake Shack, two of America’s most buzz-worthy restaurants, are exhibiting great success at using the social media world to promote their businesses. Both companies have established a presence on many of the most popular social media outlets, including Facebook, Twitter, and Instagram. Each of these burger-focused restaurants, however, has demonstrated a very different approach to their social media.
According to (Dipietro et al., 2012), “most networking sites are useful for advertising and marketing a restaurant brand at an expensive cost to the restaurant”. Think about it for a moment social media is at a height were most if not everything is taken very serious and sometimes out of context. So taking an aim at other corporations
If we think about the Nineties, business enterprises used newspaper, television and radio as mediums for publicizing. We have come a long way since then; now companies can ask their consumers to ‘Like’ their pages and ask them to ‘Share’ the page among their friends and relatives. Today social media is the highlight of everyone's lives and we can all thank Mark Zuckerberg for setting up a network of 1.2 billion of prospective friends, Facebook.
Prendergast, G., Ko, D., & Siu Yin V., Y. (2010). Online word of mouth and consumer purchase intentions. International Journal Of Advertising, 29(5), 687-708
In article “The influence of e-word-of-mouth on travel decision-making: Consumer profiles”, it says that the presence of e-WOM brings more choices and information to tourism from a wide range of users (Hernández-Méndez, Sánchez-Fernández & Muñoz-Leiva 2015). Another advantage is social media tools are considered a more credible source of information because those who generate the content have no vested interest in the companies. According to Wu and Wang, “if users trust the comments and opinions of others in the online environment, it will positively affect their trust and attitude towards the brand and their purchase intent.” (as cited in The influence of e-word-of-mouth on travel decision-making: Consumer profiles
This report aims to provide a mix review of theories and personal case study. I will apply two consumer behaviour theories in relation to my own purchase decisions.
Marketing through Social Media (Exploratory Essay) Throughout the ages there have been many intriguing ways that businesses have portrayed their product or services for accessibility. Recently, businesses have been researching how to market the businesses product through the World Wide Web. With websites such as Facebook, Twitter, Instagram, it started becoming popular within the past 20 Years. People have started to rely heavily on the internet over the past decade, whether it be for searching for information on products or people.
Social media marketing uses social media platforms likes Facebook, snapchat, Instagram to market a product or service. Social networking websites allow individuals and businesses to interact with one another and build relationships and communities online. It is based on building virtual communities, that allow consumers to express their needs, wants and values, online. Social media then connects these consumers and audiences to businesses that share the same need, wants, and values.
Sometimes the best way to see if your business needs help with social media is to get your hands dirt with a social media evaluation. Although you might not be a social media expert...yet, you can still use these questions to see how to improve your presence.
A consumer might pay a bigger cost for the company's services or products due to an assurance to purchase the brand or a passive agreement. The path they bought should be identical to the company's status. Furthermore, companies always need to investigate whether channels are appropriate to marketing or not. Almost every today's companies adopt integrated multi-channel marketing such as social media. They can utilize one or more distribution channels in various ways. It can be sure that the higher the distribution channel, the higher the market place coverage.
· Use of social media for promotion- word of mouth and social media help to get the message across and promote the product efficiently
Social media is a controversy topic in today’s society. Some people think that social media destroys human interaction and real life human relationships. While others think that social media is a bless to humanity. Social media makes human interaction much more convenient and much faster than real life human interaction, it makes globalization a reality, it gives a chance for introverted people to express themselves, and it also benefit develop international relationships whether its business or social.
Internet marketing is a reliable tool and affordable. It is easy to introduce a product and brand through internet. It is easy for marketers to work on internet marketing. They can show a better thing to consumers in less time and cost. (Jamie Swartz)
Digital marketers must keep up-to-date with the consumers preference, trends and needs, in order to meet these needs and to be able to remain competitive in the market . The connectivity created by digital media leads to enhanced product benefits such as online games and applications (Pride & Ferell, 2014). However, the use of the internet to sell products could be a disadvantage to the business since the goods being sold are intangible, the consumer could research and find reviews describing a product as low quality which could result in sale losses (Brand Driven Digital, 2013).
Below is a graph showing all of the different effective social media sites that are commonly used. Statistic shows that the 2 most effective sites are Facebook and Twitter. Eight out of every 10 business are connected to...