Virtual and hybrid events – a key tool in marketing transformation
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Abstract
Business, education, and community organizations perceive digital solutions as an effective way to stay relevant in an increasingly competitive world in which the involvement of consumer attention and communication through various forms of communication prevails. For events, as part of the communication mix, digital transformation means consolidating practical models with innovations at their core. The value of face-to-face interaction will not pass, but increasingly, communication professionals are adding virtual events as a key tool in digital strategy. This publication focuses on current practices with the question of what tomorrow’s event is, how hybrid it is, and how it uses user interaction, as well as the position of empathy in the virtual environment.
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The authors examine the implications of electronic shopping for consumers, retailers, and manufacturers. They assume that near-term technological developments will offer consumers unparalleled opportunities to locate and compare product offerings. They examine these advantages as a function of typical consumer goals and the types of products and services being sought and offer conclusions regarding consumer incentives and disincentives to purchase through interactive home shopping vis-a-vis traditional retail formats. The authors discuss implications for industry structure as they pertain to competition among retailers, competition among manufacturers, and retailer-manufacturer relationships.
The concept of Social Media is top of the agenda for many business executives today. Decision makers, as well as consultants, try to identify ways in which firms can make profitable use of applications such as Wikipedia, YouTube, Facebook, Second Life, and Twitter. Yet despite this interest, there seems to be very limited understanding of what the term “Social Media” exactly means; this article intends to provide some clarification. We begin by describing the concept of Social Media, and discuss how it differs from related concepts such as Web 2.0 and User Generated Content. Based on this definition, we then provide a classification of Social Media which groups applications currently subsumed under the generalized term into more specific categories by characteristic: collaborative projects, blogs, content communities, social networking sites, virtual game worlds, and virtual social worlds. Finally, we present 10 pieces of advice for companies which decide to utilize Social Media.
The article examines the use of social media by Internet users related to advertising and marketing, called "consumers' online brand-related activities (COBRA)." Interviews are conducted with such Internet users through instant messaging as to their motivations for engaging with brands and brand name products through social media. It was found that a desire for information, a desire for entertainment and the possibility of reward were the primary motivations for COBRA activity by Internet users, with entertainment being the primary motivation for the generation of brand-related social media content.
Purpose
This paper aims to look at what CRM 2.0 is and how it impacts customer insights. It will show how CRM 2.0's incorporation of social tools and strategies with traditional operational functions meets the demands of twenty‐first century “social” customers.
Design/methodology/approach
The paper presents a combination of independent research by the author for the last decade and third‐party sources. This means direct client consulting, interviews with senior corporate management and copious access to expert sources and documents.
Findings
The new breed of customer requires corporate transparency, authenticity and interaction. To affect this intelligent, aggressive social consumer, richer insight than that of the past is necessary. CRM and social tools use combined provides the capability for this insight.
Research limitations/implications
CRM 2.0 as a fully integrated strategy and system remains immature, though the integration of CRM traditional technologies with social networks is ongoing and increasingly coexistent. CRM 2.0 thus must be seen as strategically maturing but technologically immature.
Practical implications
Any company that understands that their customers are demanding something more and different will adopt CRM 2.0 strategies to gain greater insight into their customers and to support creation of mutual value.
Originality/value
By systematically providing an understanding of how contemporary customers act and what they demand and how CRM 2.0 satisfies that, this adds to contemporary scholarship and modern business practice.
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