User:Mohanavamsi iska/sandbox

Marketing

Social media creates new opportunities for companies that want to engage better with customers. Real engagement, which binds customers to companies, can drive revenue gains and reduce the costs associated with customer churn. However, engagement through social media requires new ways to manage and understand customer interactions.

social media marketing is like every other marketing campaign: It’s a process that needs to be monitored and managed. The difference is that the social media marketing process is iterative and can change and adapt more quickly than traditional marketing campaigns. Being this adaptive requires platforms that help marketing professionals properly design, initiate, and manage social media marketing campaigns as well as perform the social media analytics that allow for deep customer understanding and monitoring for the effectiveness of these campaigns.

Social Commerce

Social commerce is a subset of electronic commerce that employs collaborative social media tools to assist in online purchasing and selling.

Characteristics:

• involvement of customers

• personal relationship between the company and its customers

• communication among customers

Methods

• Appraisal of retailers and products by customers (Social Navigation)

• Comments of other customers (Recommendation)

• Virtual communities for companies or products, e.g., at Facebook (Following)

• Customers design products and sell them on their private homepage (Shop Widgets)