Dokyun Lee: How is Big Data Changing Social Media Marketing Strategies?

Dokyun Lee: How is Big Data Changing Social Media Marketing Strategies?


(music) I’m very interested in the economic impact of what I like to call unstructured data. For examples, texts and
images in say e-commerce, social media settings
and how does that impact how people purchase, how
consumers behave online. (music) The paper offers a lot
of insights in terms of what social media marketers can do and it also ties back to
old marketing theories on the content of advertising and what kind of content works, which previously there has been a lack of easy data to study
and lack of techniques like text mining, which
can process large volumes of data and tell very
large-scale, you know, engagement or reactions of
consumers now we have that. (music) So the question is a lot of
firms are on social media and they’re pushing status updates, connecting with consumers
directly, sharing photos, sharing any information
whether it’s on Facebook or Instagram or Twitter. What they’re after is,
one, not only directly lead to purchase perhaps or, but second, also brand marketing
the long-term exposure of their brand connecting with consumers. (music) Their informative content is meant to bring direct path to purchase, right. So short-term goals, but they also have to do this brand marketing, which actually increases engagement. So on platforms like
Facebook increased engagement means more future impressions. So, the paper tells, you
know, you have to have a good balance between the two. (music)

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