Digital marketing channels in the sharing economy

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Digital marketing channels are a system based on the internet that is able to create, accelerate, and transmit product value from producer to the terminal consumer by digital networks. [1] [2] The words "Sharing economy" refers to an economic pattern that aims to obtain a resource that is not fully utilized. [3]

Nowadays, the sharing economy has had an unimagined effect on many traditional elements including labor, industry, and distribution system. [3] This effect is not negligible that some industries are obviously under threat. [3] [4] The sharing economy is influencing the traditional marketing channels by changing the nature of some specific concept including ownership, assets, and recruitment. [4]

Sharing economy is a term for a way of distributing goods and services, a way that differs from the traditional model of corporations hiring employees and selling products to consumers. In the sharing economy, individuals are said to rent or "share" things like their cars, homes and personal time to other individuals in a peer-to-peer fashion.

Digital marketing channels and traditional marketing channels are similar in function that the value of the product or service is passed from the original producer to the end user by a kind of supply chain. [5] For instance, a typical digital marketing channel is email. Organization can update the activity or promotion information to the user by subscribing the newsletter mail that happened in consuming. In addition to this typical approach, the built-in control, efficiency and low cost of digital marketing channels is an essential features in the application of sharing economy. [5]

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Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services. Advertising is differentiated from public relations in that an advertiser pays for and has control over the message. It differs from personal selling in that the message is non-personal, i.e., not directed to a particular individual. Advertising is communicated through various mass media, including traditional media such as newspapers, magazines, television, radio, outdoor advertising or direct mail; and new media such as search results, blogs, social media, websites or text messages. The actual presentation of the message in a medium is referred to as an advertisement, or "ad" or advert for short.

Personalized marketing, also known as one-to-one marketing or individual marketing, is a marketing strategy by which companies leverage data analysis and digital technology to deliver individualized messages and product offerings to current or prospective customers. Advancements in data collection methods, analytics, digital electronics, and digital economics, have enabled marketers to deploy more effective real-time and prolonged customer experience personalization tactics.

Display advertising is advertising on websites or apps or social media through banners or other ad formats made of text, images, flash, video, and audio. The main purpose of display advertising is to deliver general advertisements and brand messages to site visitors.

Direct marketing type of marketing sending messages directly to consumers

Direct marketing is a form of communicating an offer, where organizations communicate directly to a pre-selected customer and supply a method for a direct response. Among practitioners, it is also known as direct response marketing. By contrast, advertising is of a mass-message nature.

Marketing communications uses different marketing channels and tools in combination: Marketing communication channels focus on any way a business communicates a message to its desired market, or the market in general. A marketing communication tool can be anything from: advertising, personal selling, direct marketing, sponsorship, communication, and promotion to public relations.

Online advertising, also called online marketing or Internet advertising or web advertising, is a form of marketing and advertising which uses the Internet to deliver promotional marketing messages to consumers. Many consumers find online advertising disruptive and have increasingly turned to ad blocking for a variety of reasons.

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Advertising campaign series of advertisement messages

An advertising campaign is a series of advertisement messages that share a single idea and theme which make up an integrated marketing communication (IMC). An IMC is a platform in which a group of people can group their ideas, beliefs, and concepts into one large media base. Advertising campaigns utilize diverse media channels over a particular time frame and target identified audiences.

Mobile marketing is multi-channel online marketing technique focused at reaching a specific audience on their smartphones, tablets, or any other related devices through websites, E-mail, SMS and MMS, social media, or mobile applications. Mobile marketing can provide customers with time and location sensitive, personalized information that promotes goods, services and ideas. In a more theoretical manner, academic Andreas Kaplan defines mobile marketing as "any marketing activity conducted through a ubiquitous network to which consumers are constantly connected using a personal mobile device".

A target audience is the intended audience or readership of a publication, advertisement, or other message. In marketing and advertising, it is a particular group of consumers within the predetermined target market, identified as the targets or recipients for a particular advertisement or message. Businesses that have a wide target market will focus on a specific target audience for certain messages to send, such as The Body Shops Mother's Day advertisements, which were aimed at the children and spouses of women, rather than the whole market which would have included the women themselves.

Youth Marketing is a term used in the marketing and advertising industry to describe activities to communicate with young people, typically in the age range of 13 to 35. More specifically, there is the teen marketing, targeting people age 13 to 17, college marketing, targeting college-age consumers, typically ages 18 to 24, young adult marketing, targeting youngsters use professionals, typically ages 25 to 34.

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Targeted advertising type of advertising

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Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers. Most social media platforms have built-in data analytics tools, which enable companies to track the progress, success, and engagement of ad campaigns. Companies address a range of stakeholders through social media marketing, including current and potential customers, current and potential employees, journalists, bloggers, and the general public. On a strategic level, social media marketing includes the management of a marketing campaign, governance, setting the scope and the establishment of a firm's desired social media "culture" and "tone."

Virtual engagement is a metric to determine the level of affinity between a company and its customers. In today's internet economy, few things matter as much to marketers as the intensity of the feelings a customer has towards the brand or the product of a given corporation. Marketing professionals are engaging prospects and moving them along the customer engagement cycle to become customers and finally advocates.

Social advertising is advertising that relies on social information or networks in generating, targeting, and delivering marketing communications. Many current examples of social advertising use a particular Interpretation service to collect social information, establish and maintain relationships with consumers, and for delivering communications. For example, the advertising platforms provided by Google, Twitter, and Facebook involve targeting and presenting ads based on relationships articulated on those same services. Social advertising can be part of a broader social media marketing strategy designed to connect with consumers.

Cloud marketing

Cloud marketing is the process of an organisations efforts to market their goods and services online through integrated digital experiences, by which they are specialised for every single end user. The aim is to use advertising methods to target customers via online applications through social media websites such as Facebook, Twitter and various online portals to target consumers. Cloud marketing platforms are supported with third parties which maintain the platform. Cloud Marketing was established by a company in Raleigh, North Carolina calling it SharedVue Marketing Technologies. The marketers targeting clients need to ensure their material is compatible with all electronic media devices. Cloud marketing requires efforts in data privacy and data protection especially for EU markets where GDPR general data protection regulation defines new rules.

In-product communications (IPC) are messages, content, and related media delivered directly to a user's internet-connected device or software application, with the purpose of informing, gathering feedback from, engaging with, or marketing to that specific user or segment of users at often-higher engagement rates than other digital marketing and online marketing channels.

References

  1. "Domains of Digital Marketing Channels in the Sharing Economy". Journal of Marketing Channels. doi:10.1080/1046669X.2017.1346977.
  2. Heikki, Karjaluoto. "The usage of digital marketing channels in SMEs". Journal of Small Business and Enterprise Development. 22 (4): 633–651.
  3. 1 2 3 Kyle, Huggins. "Seismic Shifts in the Sharing Economy: Shaking Up Marketing Channels and Supply Chains". Journal of Marketing Channels. 24 (3). doi:10.1080/1046669X.2017.1346973.
  4. 1 2 "The Sharing Economy: Opportunities and Challenges for Marketing Channels and Supply Chains". Journal of Marketing Channels. 24 (1–2). doi:10.1080/1046669X.2017.1346970.
  5. 1 2 Thomas, Martin. "Domains of Digital Marketing Channels in the Sharing Economy". Journal of Marketing Channels. 24 (27). doi:10.1080/1046669X.2017.1346977.