The Web 2.0 as Marketing Tool: Opportunities for SMEs

The new generation of Internet applications widely known as Social Media or Web 2.0 offers corporations a whole range of opportunities for improving their marketing efficiency and internal operations. Web 2.0 applications have already become part of the daily life of an increasing number of consumers who regard them as prime channels of communication, information exchange, sharing of expertise, dissemination of individual creativity and entertainment. Web logs, podcasts, online forums and social networks are rapidly becoming major sources of customer information and influence while the effectiveness of traditional mass media is rapidly decreasing. Using the social media as a marketing tool is an issue attracting increasing attention. The hitherto experience is that large public corporations are more likely to make use of such instruments as part of their marketing and internal operations (McKinsey, 2007).The paper defines the Web 2.0 phenomenon and based on the experience of large corporations examines how SMEs could engage the various Web 2.0 instruments in order to efficiently market their products, improve customer relations, increase customer retention and enhance internal operations

Harnessing the power of the general public for crowdsourced business intelligence: a survey

International audienceCrowdsourced business intelligence (CrowdBI), which leverages the crowdsourced user-generated data to extract useful knowledge about business and create marketing intelligence to excel in the business environment, has become a surging research topic in recent years. Compared with the traditional business intelligence that is based on the firm-owned data and survey data, CrowdBI faces numerous unique issues, such as customer behavior analysis, brand tracking, and product improvement, demand forecasting and trend analysis, competitive intelligence, business popularity analysis and site recommendation, and urban commercial analysis. This paper first characterizes the concept model and unique features and presents a generic framework for CrowdBI. It also investigates novel application areas as well as the key challenges and techniques of CrowdBI. Furthermore, we make discussions about the future research directions of CrowdBI

Foundations of Social Media Marketing

The Social Media have changed the power structures in the marketplace; evidence points to a major power migration taking place and to emergence of a new breed of powerful and sophisticated customer, difficult to influence, persuade and retain The paper outlines the nature, effects and present status of the Social Media, underlying their role as customer empowerment agents. It explains their aptitude and possible roles as part of the corporate Marketing strategy and identifies different ways of engaging them as marketing tools. The paper proposes two possible Social Media marketing strategies: a. The passive approach focusing on utilizing the Social Media domain as source of customer voice and market intelligence. b. The active approach i.e. engaging the Social Media as direct marketing and PR channels, as channels of customer influence, as tools of personalizing products and last but not least develop them as platforms of co-operation and customer-generated innovation. Finally the paper identifies future research directions around this new element of the marketing landscap

A Statistical Measure of a Population's Propensity to Engage in Post-Purchase Online Word-of-Mouth

The emergence of online communities has enabled firms to monitor consumer-generated online word-of-mouth (WOM) in real-time by mining publicly available information from the Internet. A prerequisite for harnessing this new ability is the development of appropriate WOM metrics and the identification of relationships between such metrics and consumer behavior. Along these lines this paper introduces a metric of a purchasing population's propensity to rate a product online. Using data from a popular movie website we find that our metric exhibits several relationships that have been previously found to exist between aspects of a product and consumers' propensity to engage in offline WOM about it. Our study, thus, provides positive evidence for the validity of our metric as a proxy of a population's propensity to engage in post-purchase online WOM. Our results also suggest that the antecedents of offline and online WOM exhibit important similarities.Comment: Published at http://dx.doi.org/10.1214/088342306000000169 in the Statistical Science (http://www.imstat.org/sts/) by the Institute of Mathematical Statistics (http://www.imstat.org

Social media: a new frontier for retailers?

During the last two decades the retailing industry is finding itself in a state of constant evolution and transformation. Globalization, mergers and acquisitions, and technological developments have drastically changed the retailing landscape. The explosive growth of the Internet has been one of the main catalysts in this process. The effects of the Internet have been mostly felt in retail sectors dealing mainly with intangibles or information products. But these are not likely to be limited to these sectors; increasingly retailers of physical products realize that the empowered, sophisticated, critical and well-informed consumer of today is essentially different to the consumer they have always known. The web, and particularly what is known as Social Media or Web 2.0, have given consumers much more control, information and power over the market process, posing retailers with a number of important dilemmas and challenges. This article explains what the new face of the Internet, widely referred to as Web 2.0 or Social Media, is, identifies its importance as a strategic marketing tool and proposes a number of alternative strategies for retailers. Implementing such strategies will allow retailers not only to survive, but also create competitive advantages and thrive in the new environment

Measuring impact of academic research in computer and information science on society

Academic research in computer & information science (CIS) has contributed immensely to all aspects of society. As academic research today is substantially supported by various government sources, recent political changes have created ambivalence amongst academics about the future of research funding. With uncertainty looming, it is important to develop a framework to extract and measure the information relating to impact of CIS research on society to justify public funding, and demonstrate the actual contribution and impact of CIS research outside academia. A new method combining discourse analysis and text mining of a collection of over 1000 pages of impact case study documents written in free-text format for the Research Excellence Framework (REF) 2014 was developed in order to identify the most commonly used categories or headings for reporting impact of CIS research by UK Universities (UKU). According to the research reported in REF2014, UKU acquired 83 patents in various areas of CIS, created 64 spin-offs, generated £857.5 million in different financial forms, created substantial employment, reached over 6 billion users worldwide and has helped save over £1 billion Pounds due to improved processes etc. to various sectors internationally, between 2008 and 2013

Metadata enrichment for digital heritage: users as co-creators

This paper espouses the concept of metadata enrichment through an expert and user-focused approach to metadata creation and management. To this end, it is argued the Web 2.0 paradigm enables users to be proactive metadata creators. As Shirky (2008, p.47) argues Web 2.0’s social tools enable “action by loosely structured groups, operating without managerial direction and outside the profit motive”. Lagoze (2010, p. 37) advises, “the participatory nature of Web 2.0 should not be dismissed as just a popular phenomenon [or fad]”. Carletti (2016) proposes a participatory digital cultural heritage approach where Web 2.0 approaches such as crowdsourcing can be sued to enrich digital cultural objects. It is argued that “heritage crowdsourcing, community-centred projects or other forms of public participation”. On the other hand, the new collaborative approaches of Web 2.0 neither negate nor replace contemporary standards-based metadata approaches. Hence, this paper proposes a mixed metadata approach where user created metadata augments expert-created metadata and vice versa. The metadata creation process no longer remains to be the sole prerogative of the metadata expert. The Web 2.0 collaborative environment would now allow users to participate in both adding and re-using metadata. The case of expert-created (standards-based, top-down) and user-generated metadata (socially-constructed, bottom-up) approach to metadata are complementary rather than mutually-exclusive. The two approaches are often mistakenly considered as dichotomies, albeit incorrectly (Gruber, 2007; Wright, 2007) . This paper espouses the importance of enriching digital information objects with descriptions pertaining the about-ness of information objects. Such richness and diversity of description, it is argued, could chiefly be achieved by involving users in the metadata creation process. This paper presents the importance of the paradigm of metadata enriching and metadata filtering for the cultural heritage domain. Metadata enriching states that a priori metadata that is instantiated and granularly structured by metadata experts is continually enriched through socially-constructed (post-hoc) metadata, whereby users are pro-actively engaged in co-creating metadata. The principle also states that metadata that is enriched is also contextually and semantically linked and openly accessible. In addition, metadata filtering states that metadata resulting from implementing the principle of enriching should be displayed for users in line with their needs and convenience. In both enriching and filtering, users should be considered as prosumers, resulting in what is called collective metadata intelligence

Using big data for customer centric marketing

This chapter deliberates on “big data” and provides a short overview of business intelligence and emerging analytics. It underlines the importance of data for customer-centricity in marketing. This contribution contends that businesses ought to engage in marketing automation tools and apply them to create relevant, targeted customer experiences. Today’s business increasingly rely on digital media and mobile technologies as on-demand, real-time marketing has become more personalised than ever. Therefore, companies and brands are striving to nurture fruitful and long lasting relationships with customers. In a nutshell, this chapter explains why companies should recognise the value of data analysis and mobile applications as tools that drive consumer insights and engagement. It suggests that a strategic approach to big data could drive consumer preferences and may also help to improve the organisational performance.peer-reviewe

Harnessing Collaborative Technologies: Helping Funders Work Together Better

This report was produced through a joint research project of the Monitor Institute and the Foundation Center. The research included an extensive literature review on collaboration in philanthropy, detailed analysis of trends from a recent Foundation Center survey of the largest U.S. foundations, interviews with 37 leading philanthropy professionals and technology experts, and a review of over 170 online tools.The report is a story about how new tools are changing the way funders collaborate. It includes three primary sections: an introduction to emerging technologies and the changing context for philanthropic collaboration; an overview of collaborative needs and tools; and recommendations for improving the collaborative technology landscapeA "Key Findings" executive summary serves as a companion piece to this full report