Global Business Value Innovations by Anshu Saxena Arora Sabine Bacouel-Jentjens & Jennifer J. Edmonds

Author:Anshu Saxena Arora, Sabine Bacouel-Jentjens & Jennifer J. Edmonds
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

The first element, “Word-of-Mouth,” refers to the importance of word-of-mouth (WOM) advertising. WOM advertising is considered one of the most, if not the most, impactful methods of advertising; consumers share experiences with each other, and these experiences impact future consumer decisions. If a customer has a good experience with a business, he or she will tell his or her friends about said experience, which will likely result in an increased number of customers. Likewise, WOM advertising regarding a bad customer experience is extremely detrimental to future business. For this reason, WOM is the first element of the WALLIN framework, as consumer-to-consumer relationships are some of the most influential relationships in the buying process.

“Active consumers” refers to the idea that social media has increased the power of consumers in the business process; as stated above, Rosman emphasizes the importance of utilizing social media advertising in order to hear customers , and tailor business practices to their needs. Consumers are not only active in buying transactions , but now they also influence the marketing, advertising, and communication of businesses as well. In addition to good CRM, business leadership is examined in our framework; are managers and CEO’s utilizing social media to the business’s fullest potential, or are marketing and advertising decisions being made internally with little consideration for outside opinions? The WALLIN framework allows for examination of such questions.

“Lane shifting” and “Implications” go hand-in-hand, as they both refer to the transition from the bowling alley, linear advertising approach to the new, collaborative pinball approach. The WALLIN framework encourages questions such as, “will my business reap the benefits of such a switch, or not,” and “what are the implications if my business chooses not to utilize social media advertising?”

Finally, the WALLIN framework emphasizes the importance of networks, and building social media communities to enhance business practices. Whether they be B2B or B2C relationships, businesses with benefit from utilizing social media to communicate, collaborate, and associate themselves with not only consumers , but competitors as well. Thus,

Proposition 1

The utilization of social media pinball advertising through WALLIN framework will result in stronger B2C and B2B relationships, in turn increasing the benefits experienced by businesses.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.