IDK, LY & TTYL

My mother texted me: 'What does IDK, LY & TTYL mean?' 

I answered: 'I don't know, love you, talk to you later.' 

Mother: 'Ok, I'll ask your sister'. 


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• Who are our customers?
• What influences them? How many of them use social media?
• What are our customers saying about us and our competitors online?

• What’s our objective?
• What platforms are we using?
• Can we get the username?
• Who is allowed to post?
• What are the rules?
• How frequently should we update?
• What’s our message? And tone?

• Make it SEO-friendly
• Make it easily searchable through Search Engine Marketing

• Be transparent and authentic
• Update regularly
• Reply promptly and politely
• Have a conversation, not a monologue
• Don’t focus excessively on selling, focus on brand building and reputation management

• Have we met our objectives?
• What’s the return on investment (ROI)?:
• Financial: More Enquires, More Sales
• Tangible: More Fans, More Social Mentions
• Intangible: Better Reputation, More Recognition
• Monitor the outcome with tools:
• Free: Google Alerts, RSS Feeds, Facebook Insights
• Paid: Web Analytics
• Shall we continue, discard, or refine?

The Starfish Story









The Young Person wandered the beach, lost in thoughts. Ahead lay a strange sight – millions of starfish washed up on the sand. They stretched as far as the eye could see. The Young Person couldn’t help but be impressed.

A little further on was a figure bent over the beach. The figure was an Old Man and, as the Young Person got closer, it became clear that the Old Man was picking up starfish and tossing them into the waves.

“What are you doing?”, the Young Person asked.
The Old Man looked up. “Saving the starfish.”
He threw the starfish he was holding into the sea.
“If they stay on the sand, they’ll suffocate and die.”

The Young Person looked up and down the beach at the millions of starfish, then laughed.
“But look at them all. There are millions. What’s the point? What difference can you make?”

There was a long pause. Then the Old Man bent down, picked up another starfish, and held it up to the Young Person. 

“I can make a difference to this one.”






Moral: You can make a Difference!






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The Horse And Donkey Story








A story was told of a farmer, who owned a Horse, and a Donkey. One day, the farmer had to travel to the city, but he could only bring one of the animals with him. The other would have to stay and grind mill for that day.


The Donkey said to the Horse: "The city is so far away, I think I would rather stay home and grind mill."


And so, the farmer hitched the Donkey to the mill, took the Horse, and left for the day. 






Evening came, and the farmer returned. When the Horse saw the Donkey, it said, "Donkey! You wouldn't believe all the sights I've seen in the city! It's full of lights and laughter! You should have gone!" 


The Donkey replied, "Well, I've seen nothing all day but the four walls of this mill... I'm extremely tired of all this grinding." 


The Horse said, "We both have walked the whole day, but while I've seen the world, you have just been going round in circles." 






Moral: We are busy everyday. But what are we busy with? Productive activities that will eventually help us reach our goals? Or time-wasting activities that cause us to go round in circles? 

Be clear on what you are doing daily!





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Survey Results: Using Groupon


We did a survey of Groupon users, here are the results: 

Awareness of Groupon

Types of Groupons Consumers Will Buy

How Often Consumers Purchase Groupons

Reasons For Using Groupon

Without Groupon, Would Consumers Still Purchase Chosen Item

Groupon Refunds

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1. Banner Ads
2. Electronic Direct Mail (EDM)
3. Online Classified Advertising
4. Paid Search Advertisements

TV
Advantages	Disadvantages
Ads reach audience without requiring any action from them	TVC is more expensive and takes longer to produce
Can target those who aren’t literate	Limited length of exposure, most ads only 30 seconds
Greater ability to convey message with sight, sound and motion	Limited amount of information conveyed

Newspapers
Advantages	Disadvantages
Fast and easy to produce	Words aren’t as engaging as moving visuals
Can include detailed information	Sometimes, demonstrations are easier (show rather than tell)
Audience can re-read information
Audience is more engaged
More educated audience suggest higher disposable income

Radio
Advantages	Disadvantages
Ads reach audience without requiring any action from them	Audience may be disengaged (Multi-task)
Ads reach audience even if they’re busy (Multi-task)	Ads may have to be repeated
Good platform for catchy commercial jingles

Online Banner Ads
Advantages	Disadvantages
Fast and easy to produce	Not mass market yet
May be interactive – Click here!	May not reach older generation
Can spread to other netizens quickly and globally	Lack of intrusiveness – easy to ignore
Easy to track conversion, measure ROI and earn money – pay per click	Accessibility – incompatible software or long download time
	Less gatekeeping means less credibility

1. Presentations have to be short.
2. Use images and music to engage at an emotional and visceral level.
3. Content had to be customized to suit the tastes of specific subgroups and stakeholders.
4. Most effective distribution of a message is virally, through peers word-of-mouth.

• Avoid immediate contact and remarks
• Don’t badmouth competitors or speculate on blame
• Keep files of issues likely to get attention
• Understand deadlines and stick to them
• Always be contactable
• Think from a reporter’s perspective
• Provide balance, or know where to get it
• Know relevant background information
• Keep records of contact with Media
• Never Lie
• Focus on Human Element, then Environmental Impact, never on how it affect business profits

• Know what message you want to deliver
• Make message clear, concise and straightforward
• Prioritize media options
• Address your contact / the editor by name
• Offer an exclusive, and deliver on it
• Emphasize why your message is newsworthy
• Advise journalists how to package the story
• Provide useful additional materials – Press Release, Media Kit, Photographs, etc.

• Discuss issues other than your news
• Be a source, comment as an expert
• Converse in depth on news topics or trends
• Look for non-news reasons to interact
• Don’t ask for favors, make suggestions

Consumer Attitudes 


Attitude: A learned predisposition to behave in a consistently favorable or unfavorable manner with respect to a given object. 


The "Object" could be a category, brand, model, etc. 


Attitudes are learned / influenced by: 
- Personality, Knowledge, Beliefs
- Family / Friends (Word of Mouth Advertising)
- Personal Experience (Samples, Trials)
- Mass Media (Ads, News, Marketing Influences)






A simple consumer attitude model: ABC


Where your attitude towards an object is a combination of: 
Affect: How you feel towards the object
Cognition: How you think about the object
Behavior: How you act towards the object






Fishbein's multi-attribute attitude model
Attributes are features that an object might have. 
Companies want consumers to perceive their products as having desirable attributes. 


The key assumption in this model is: People's attitudes towards an object depend on their beliefs about its various attributes. 






Fishbein Model summarizes overall attitude into a score: 


A consumer's overall Attitude (A) towards an Object (o), is determined by weighted sum of the Evaluation (E) of the goodness of a particular attribute of an object, and the strength of Belief (B) that a particular object has said attribute. 


The consumer's Total attitude (T) towards an object is the sum of all attributes. 


Ao = (E x B)
T = Ao + Ao + (Add all Ao)










Weaknesses of Fishbein Model
- Requires all attributes and beliefs to be broken down neatly.
- Assumes consumers are rational and engage in such thinking, at least implicitly. Eg: Impulse buy.
- Does not differentiate between attitude and action. Change in attitude does not always lead to change in action, only change in beliefs.
- Sometimes, behaviour leads to change in attitude.
- Does not take into account the environment and external influences. Eg: Do my parents approve of this purchase? How important is my parents' approval?





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