![]() ![]() A company must understand and implement all the ways their product offers value to its consumers. Don’t hesitate to add that extra functional element or fun piece in your page because it’s those added benefits that will allow your customers to see the real value in participating in your social network.Įvery product’s value is made up of the basic benefits, plus the augmented product, plus the “feel” benefits. In this sense, if it is possible to help your consumers accomplish a task while also providing entertainment you should do so. Naturally, the best consumer experiences are those that provide both high utilitarian and high hedonic value. Seldom does one look at pictures you posted in an effort to get a job done, yet features like these provide value that is emotional and subjective in nature and is an end in and of itself rather than a means to an end. For instance, a consumer visits your company page and they happen upon an entertaining video you posted or a fun survey/poll you created. With hedonic value, the value received is provided entirely from the actual experience and emotions associated with consumption, not because some other end is or will be accomplished. Hedonic Value: the immediate gratification that comes from experiencing some activity. In essence, utilitarian value can be seen as a means to an end. Being provided with this new found knowledge is gratifying to your consumer. Obviously the post provides the information they were looking for and helps them with their future endeavors. For example: When one of your consumers looks at your page and reads a post explaining tips and tricks to use for SMO, they are most likely trying to either learn more about it or trying to help improve their business. When utilitarian value is the primary motive, consumers usually offer a rational explanation of why something is purchased. Utilitarian Value: derived from a product or service that helps the consumer solve problems and accomplish tasks. While theoretically, value can be broken down into a wide spectrum of specific types, the main and most effective types of value to focus on in your social media page are Utilitarian value and Hedonic value. It is necessary to be actively providing benefits on your page as an easy way to create value for your customers. Consumers endure very little costs when involving themselves in social media, but this is by no means an excuse for your page to just merely exist. Costs: “what they get” from “what they have to give.” This should always be kept in mind when using social media as a marketing tool. From a consumer standpoint, value is essentially Benefits Vs. Value is what every consumer ultimately pursues in an effort to address their needs and wants. Value Marketing, as defined by the American Marketing Association, is “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” In other words, it’s about creating one thing: Value. Today’s area of focus is: Creating Value in Social Media. This is the first of a series SMO blog posts Boomtown will be doing in an effort to shed a little light on the concept of Consumer Behavior. ![]() ![]() It takes a little more application to understand WHY and HOW a company should use social media to market themselves to their consumer base. Nowadays anyone can go online and run through the process of creating a company page on a social network, yet we see those who do this without grasping the reasoning behind it. ![]()
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