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B2B Companies Far Behind on Social Media Strategies

Idea posted: August 2019
  • Strategy
  • Innovation & Entrepreneurship
  • Marketing

While for B2C companies, using social media to acquire and exchange knowledge with customers and internally is all the rage, new research reveals that many B2B companies fail to see the potential of social media – and even when some managers see the potential, the company fails to provide support for social media initiatives.

Idea #747
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Source: Pexels

CMO Survey: Value of Company Spending on Social Media

Idea posted: March 2018
  • Marketing

While digital age marketing channels such as social media marketing and mobile marketing has captured the public’s attention, the view from the Chief Marketing Officer’s desk is more measured, according to a new survey of marketing leaders in the U.S. Social media marketing continues to grab more and more of the marketing budget, for example, but measuring its impact on the bottom line remains elusive.

Idea #697
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The Boy in the Red Vest (detail) Cezanne c-1890 (Courtesy: Foundation E.G. Bührle, Zurich)

The Good, Bad and Ugly of Covert Marketing

Idea posted: March 2018
  • Marketing

With traditional marketing losing its impact in today’s overcrowded marketplaces, marketers are developing creative covert campaigns to create buzz around their products. Sometimes, however, these covert campaigns can backfire. 

Idea #694
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Varied Effectiveness of Paid Endorsements on Social Media

Idea posted: April 2016
  • Marketing

New research reveals the potential benefits and pitfalls of including paid social media endorsers in new marketing efforts. The research notably revealed that paid endorsers are either eager to participate or very effective — but rarely both.

Idea #599
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What Influences Our Choices? What Others Prefer or What They Actually Consume

Idea posted: October 2015
  • Strategy
  • Marketing

A series of psychological experiments reveal that people will imitate others’ preferences, but not their actions — a revelation that can have marketing implications. For example, Facebook ‘likes’ are more influential than lists of best-selling products.

Idea #556
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Buyers of Experiential Products and Consumer Reviews

Idea posted: September 2015
  • Marketing

Shoppers find consumer reviews to be less useful, and are less likely to seek out such reviews, for experiential purchases (events to be lived through such as vacation packages) than for material products (objects to keep such as electronics). 

Idea #546
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Six Skills for the Social Media-Literate Leader

Idea posted: May 2015
  • Strategy
  • Innovation & Entrepreneurship
  • Leadership & Change
  • Learning & Behaviour
  • Marketing

A scholar and an Executive Fellow from the Drucker School of Management present a six-dimensional framework of what they call ‘organizational social media literacy’. It outlines critical capabilities — from creating content and managing the flow of information to spreading social media competence throughout the organization and creating a social media infrastructure — that today’s leaders and their organizations must master to capitalize on the full potential of social media.

Idea #503
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Harness Big Data Using Visualisation Software Tools

Idea posted: January 2015
  • Strategy
  • Innovation & Entrepreneurship
  • Marketing
Institutions: NUS Business School

The phrase “big data” puts the emphasis on quantity — and it’s true that the data available in the world continues to grow exponentially every year. But for businesses wanting to make the most of big data, it’s not quantity that counts, but what you do with the data. Companies are losing millions of dollars because they are not fully exploiting the data they are already gathering. Given the complexity of big data, visualisation software tools are required to help companies avoid this mistake.

Idea #474
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CAVE installation, Internet and Virtual Reality, Maurice Benayoun (Source: Wikimedia Commons)

How Leaders Emerge in Online Communities

Idea posted: January 2015
  • Strategy
  • Leadership & Change
  • Marketing
  • Operations

Without a formal hierarchy, members of online communities are often able to work together effectively and efficiently collaborating to create vast founts of knowledge such as Wikipedia. This research looks at how leaders emerge in online communities, and what companies can learn from this. 

Idea #470
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The Tribuna of the Uffizi (detail), Johann Zoffany, circa 1772-1778, The Royal Collection, Windsor Castle

What to Get Right when Crowdsourcing

Idea posted: October 2014
  • Innovation & Entrepreneurship
  • Marketing
  • Operations

Social media channels have enabled organizations such as Dell, Starbucks, and NASA to successfully reach out to external contributors to collect suggestions, which have in turn stimulated innovation. This research, however, shows that most initiatives to source external contributions fail and that organizations seeking external ideas need to proceed with care and establish proactive processes to avoid potential pitfalls.

Idea #455
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Social Media Grabbing a Major Share of the Marketing Budget

Idea posted: October 2014
  • Marketing

Companies will be steadily increasing their spending on social media marketing in the next few years, even though most marketing executives cannot measure the financial impact of such spending. The shift in consumer buying patterns to online makes a shift to social media marketing a logical step, despite the current inability to demonstrate ROI. The pressing issue now is for companies to integrate social media activities into their general marketing campaigns. 

Idea #456
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EU Energy Label

Why Differentiating Rating Scale Labelling is Important

Idea posted: August 2014
  • Marketing

Rating scales, such as those used in online review platforms or stores (for example, Amazon or Tripadvisor) or by government rating agencies (such as agencies rating energy savings), allow consumers to evaluate the performance of products or services. However, new research shows that when the scale levels of the rating scale are not distinguished visually (e.g. by colour) or linguistically (e.g. using the linguistically different A, B, C, D rather than A, A+, A++, A+++), consumers are more likely to ignore them — and this can hurt the sales. 

Idea #431
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Cyberloafing: Lost Sleep and Lower Productivity

Idea posted: March 2014
  • CSR & Governance
  • Leadership & Change
  • Learning & Behaviour
  • Marketing

The nature and increased use of the Internet has led to a new workplace threat to productivity — ‘cyberloafing’. In this Idea, the impact of lost and low-quality sleep on employee cyberloafing, as well as conscientiousness is examined. 

Idea #343
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How Virtual Ways of Working Impact on Team Productivity

Idea posted: February 2014
  • Strategy
  • Innovation & Entrepreneurship
  • Leadership & Change
  • Marketing

Digitally-mediated (or ‘virtual’) relationships and ways of working have been considered an essential part of the way teams will work in the future. But according to this Idea, virtuality can give rise to as many problems as solutions. Here, different types of virtual work are discussed, and based on the example of the U.S. automobile industry, some cautionary advice for organizations is offered.

Idea #323
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The Blue Bottle coffee house founded in 1686 in Vienna. Painting c.1900 (Source: Wikimedia Commons)

Developing Network Perspective: Social Networks and Leadership

Idea posted: January 2014
  • Strategy
  • Leadership & Change
  • Learning & Behaviour
  • Marketing

Are you aware of the different roles individuals play in your organization, and how they connect to each other to form an informal structure that supports the organization as a whole? If so, you are well on your way to developing network perspective — something that is, according to this Idea, imperative for 21st century executives. 

Idea #291
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How to Communicate CSR Online to Stakeholders

Idea posted: September 2013
  • CSR & Governance
  • Marketing

The online communication models used by organizations to inform on their CSR activity can impact negatively on the way they are perceived by stakeholders. How can they try to overcome such obstacles and create a format for the future that engages successfully with their audience?

Idea #207
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Social Media – Time for B2B to Join the Party

Idea posted: September 2013
  • Marketing
Institutions: Henley Business School

The advent of Web 2.0 – the use of social media tools for marketing – has created new ways to communicate, collaborate and share content. Businesses that market their products or services to consumers (B2C) were first to realise its potential, not least through social networking sites such a Facebook. But research suggests that the benefits can be just as significant for businesses that market to other businesses (B2B).

Idea #204
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Participants in the 2008 World Wide Knit Day. Knitters learnt about this event from Ravelry.com, an online community for knitters (Source:Wikipedia Commons)

Social Dollars and Online Customer Communities

Idea posted: September 2013
  • Marketing

Many companies have now launched brand-specific online communities. Using data from a specific retailer, a research team from University of Michigan’s Ross School of Business and Wilfrid Laurier University sought to measure the actual revenues generated by an online community — also known as ‘social dollars’. Their findings confirm the effectiveness and profitability of online communities. Nearly 20% of the revenue from community customers in their research could be traced to their joining the community. Social dollars also persisted over time — the spending was not a temporary spike due

Idea #206
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Word-of-Mouth and On/Off Line Marketing

Idea posted: August 2013
  • Marketing
Institutions: Insper

Increases in online communities have led to behaviours that influence online activities, such as shopping, becoming more and more important for executives to understand if they want their businesses to flourish. One of these behaviours is word-of-mouth communication (WOM). In this Idea, the impact of WOM on consumption is analysed, with a discussion of those strategies that work and those that do not.

Idea #190
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Twitter- 1000 Words / Shutterstock.com

How Twitter Levels the Information Dissemination Playing Field

Idea posted: May 2013
  • Strategy
  • Finance
  • Innovation & Entrepreneurship
  • Marketing

All businesses want to increase their visibility, but for small businesses this is even more of a concern. Could Twitter be the key to getting your firm noticed by investors? According to new research, small businesses that use Twitter to communicate with investors may experience an increase in the demand at market value of their stocks, helping to level the playing field between them and larger firms.

Idea #140
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Marriage à la Mode, William Hogarth, 1743-1745, National Gallery London (Source: Wikimedia)

Socially Aware, Media Savvy: Social Media Strategy

Idea posted: March 2013
  • Strategy
  • Marketing
Institutions: Henley Business School

Social media offers both great opportunities, and also challenges, to businesses. For those that embrace social media – by adopting the right strategy – risks can be averted and rewards unlocked. Using a simple framework to create an effective strategy for social media can enable your company to enjoy its benefits.

Idea #111
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The Impact of Technology and Social Media on Sales Relationships

Idea posted: March 2013
  • Strategy
  • Marketing

Technology, and especially social media such as Facebook and LinkedIn, has fuelled an ‘always on’ culture. The pervasiveness of social media is fundamentally altering the methods through which buyers and sellers interact — salespeople feel obliged to respond immediately to communications from anywhere in the world, at whatever time. Potentially there is a revolutionary change in the way contemporary selling is conducted, driven in large measure by social media technology.

Idea #112
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Communicating Multiple Roles through Social Media

Idea posted: January 2013
  • Innovation & Entrepreneurship
  • Leadership & Change
  • Learning & Behaviour
  • Marketing

Communications executives are surely the experts on using social media to create value in large organizations. This Idea shares the results of a large survey on social media use in the communication profession, specifically looking at the increasingly common practice of executives using multiple social media profiles or personas to achieve diverse goals.

Idea #070
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Last Call for Social Media Sceptics

Idea posted: January 2013
  • Innovation & Entrepreneurship
  • Leadership & Change
  • Learning & Behaviour
  • Marketing

Social media sceptics have all but scurried back into the woodwork. The game is up and the die cast: social media is here to stay. Each week the ‘fad’ seems to blow open a new way of doing things in a different industry; democratizing our flow of ideas even further. The scope of opportunity for science, art, and business here – seems infinite. But what role can leadership play to facilitate those opportunities and create value for their organizations?

Idea #062
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