Social Media Data Analytics for Marketing Strategies The Path from Data to Value
Main Article Content
Keywords
Social Media Data Analytics (SMDA), Marketing Strategies, SLR, Platforms, Techniques
Abstract
The analysis of social media data to extract new insights has attracted much attention, especially in the field of Marketing. Few researchers, however, have studied both the concepts of Social Media Data Analytics (SMDA) and Marketing Strategies. Previous publications have only focused on a particular technique or a well-defined Marketing Strategy in a specific context. To address this gap, this paper aims to explore how Social Media Data Analytics can guide and affect Marketing Strategies, and provide an overview of the range of Social Media Data Analytics techniques related to Marketing Strategies. We conducted a systematic review of 120 papers published between 2015 and 2021 on SMDA in Marketing. The findings are presented in terms of the main social media platforms, publication date, journal quality, social media data types, analytical techniques, fields of application, firm size, and related Marketing Strategies. The SMDA techniques are classified into six categories: Sentiment Analysis, Artificial Intelligence, Data Mining, Statistics, Coding and Modelling, and Simulation. A set of detailed Marketing Strategies guided by SMDA are also presented, as well as an integrative framework mapping how SMDA creates value. The results highlight several SMDA techniques that still lack exploration and outline their relevance.
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References
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Hong, P. V., & Nguyen, T. (2020). Factors affecting marketing strategy of logistics business: Case of Vietnam. The Asian Journal of Shipping and Logistics, 36, 224–234. https://doi.org/10.1016/j.ajsl.2020.03.004
Investopedia. (2021). ‘What is Marketing Strategy?’ Investopedia, December 2021. Available at https://www.investopedia.com/terms/m/marketing-strategy.asp
Kaabi, S., & Jallouli, R. (2019). Overview of E-commerce Technologies, Data Analysis Capabilities and Marketing Knowledge. In R. Jallouli, M. A. Bach Tobji, D. Bélisle, S. Mellouli, F. Abdallah, & I. Osman (Eds), Digital Economy. Emerging Technologies and Business Innovation, 183–193. Springer International Publishing. https://doi.org/10.1007/978-3-030-30874-2_14
Kim, Y., Dwivedi, R., Zhang, J., & Jeong, S. R. (2016). Competitive intelligence in social media Twitter: IPhone 6 vs. Galaxy S5. Online Information Review, 40, 42–61. https://doi.org/10.1108/OIR-03-2015-0068
Kitchin, R. (2014). The Data Revolution: Big Data, Open Data, Data Infrastructures and Their Consequences. SAGE.
Laney, D. (2001). ‘3D data management: Controlling data volume, velocity, and variety’. META Group.
Lee, I. (2018). Social media analytics for enterprises: Typology, methods, and processes. Business Horizons, 61(2), 199–210.
Lynn, T., Healy, P., Kilroy, S., Hunt, G., van der Werff, L., Venkatagiri, S., & Morrison, J. (2015). Towards a general research framework for social media research using big data. 2015 IEEE International Professional Communication Conference (IPCC), 1–8. https://doi.org/10.1109/IPCC.2015.7235843
Lv, Z., Song, H., Basanta-Val, P., Steed, A., & Jo, M. (2017). Next-Generation Big Data Analytics: State of the Art, Challenges, and Future Research Topics. IEEE Transactions on Industrial Informatics, 1–1. https://doi.org/10.1109/TII.2017.2650204
Marine-Roig, E., & Anton Clavé, S. (2015). Tourism analytics with massive user-generated content: A case study of Barcelona. Journal of Destination Marketing & Management, 4(3), 162–172. https://doi.org/10.1016/j.jdmm.2015.06.004
McCarthy, E. J., & Perreault, W.D. (1987). Basic Marketing, 9th Edition. Richard D. Irwin, Homewood, IL.
McDonald, M. (1996), Strategic Marketing Planning, 2nd Edition. Kogan Page, London.
Mustapha, B. (2017). Effects of Marketing Mix Strategy on Performance of Small Scale Businesses in Maiduguri Metropolitan, Borno State Nigeria. Journal of Marketing and Consumer Research, 31(2), 1–6.
Ng, S., Sweeney, J., & Plewa, C. (2020). Customer Engagement: A Systematic Review and Future Research Priorities. Australasian Marketing Journal (AMJ), 28, 235–252. https://doi.org/10.1016/j.ausmj.2020.05.004
Rathore, A. K., & Ilavarasan, P. V. (2020). Pre- and post-launch emotions in new product development: Insights from twitter analytics of three products. International Journal of Information Management, 50, 111–127. https://doi.org/10.1016/j.ijinfomgt.2019.05.015
Ritonga, H., Setiawan, N., El Fikri, M., Ritonga, C. P. M., Hakim, T., Sari, M., Rossanty, Y., & Nasution, M. D. T. P. (2018). Rural tourism marketing strategy and swot analysis: A case study of bandar pasir mandoge sub-district in north sumatera. International Journal of Civil Engineering and Technology, 9, 1617–1631.
Rusetski, A. (2014). Pricing by intuition: Managerial choices with limited information. Journal of Business Research, 67, 1733–1743. https://doi.org/10.1016/j.jbusres.2014.02.020
Saggi, M. K., & Jain, S. (2018). A survey towards an integration of big data analytics to big insights for value-creation. Information Processing & Management, 54(5), 758–790. https://doi.org/10.1016/j.ipm.2018.01.010
Statista. (2021). ‘A Minute on the Internet in 2021’, Statista, July 2021. Available at https://www.statista.com/chart/25443/estimated-amount-of-data-created-on-the-internet-in-one-minute/
Stieglitz, S., Mirbabaie, M., Ross, B., & Neuberger, C. (2018). Social media analytics – Challenges in topic discovery, data collection, and data preparation. International Journal of Information Management, 39, 156–168. https://doi.org/10.1016/j.ijinfomgt.2017.12.002
Paul, J., & Rosado-Serrano, A. (2019). Gradual Internationalization vs Born-Global/International new venture models: A review and research agenda. International Marketing Review, 36(6), 830–858. https://doi.org/10.1108/IMR-10-2018-0280
Pournarakis, D. E., Sotiropoulos, D. N., & Giaglis, G. M. (2017). A computational model for mining consumer perceptions in social media. Decision Support Systems, 93(C), 98–110. https://doi.org/10.1016/j.dss.2016.09.018
Tdan. (2018). ‘The Impact of Big Data on Marketing’ Tdan, November 2018. Available at https://tdan.com/the-impact-of-big-data-on-marketing/24044
Toivonen, T., Heikinheimo, V., Fink, C., Hausmann, A., Hiippala, T., Järv, O., Tenkanen, H., & Di Minin, E. (2019). Social media data for conservation science: A methodological overview. Biological Conservation, 233, 298–315. https://doi.org/10.1016/j.biocon.2019.01.023
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review. British Journal of Management, 14, 207–222. https://doi.org/10.1111/1467-8551.00375
Vincent, L. H. (2008). Marketing strategy considerations in the commercialization of new technologies: An overview and framework for strategy development. In G. D. Libecap & M. C. Thursby (Eds), Technological Innovation: Generating Economic Results, 18, 173–200. Emerald Group Publishing Limited. https://doi.org/10.1016/S1048-4736(07)00006-9
Vrontis, D., Makrides, A., Christofi, M., & Thrassou, A. (2021). Social media influencer marketing: A systematic review, integrative framework and future research agenda. International Journal of Consumer Studies, 45, 217–644 https://doi.org/10.1111/ijcs.12647
Wang, C., & Chugh, H. (2013). Entrepreneurial Learning: Past Research and Future Challenges. International Journal of Management Reviews, 16, 24–61. https://doi.org/10.1111/ijmr.12007
Wang, Y., Deng, Q., Rod, M., & Ji, S. (2020). A thematic exploration of social media analytics in marketing research and an agenda for future inquiry. Journal of Strategic Marketing, 29, 1–21. https://doi.org/10.1080/0965254X.2020.1755351
Wong, H. Y., & Merrilees, B. (2007). Closing the marketing strategy to performance gap: The role of brand orientation. Journal of Strategic Marketing, 15, 387–402. https://doi.org/10.1080/09652540701726942
Yunus, E., Susilo, D., Riyadi, S., Indrasari, M., & Putranto, T. D. (2019). The effectiveness marketing strategy for ride-sharing transportation: Intersecting social media, technology, and innovation. Entrepreneurship and Sustainability Issues, 7(2), 1424–1434. https://https://doi.org/10.9770/jesi.2019.7.2(44)
Zhang, Z., He, Q., & Zhu, S. (2017). Potentials of using social media to infer the longitudinal travel behavior: A sequential model-based clustering method. Transportation Research Part C: Emerging Technologies, 85, 396–414. https://doi.org/10.1016/j.trc.2017.10.005
Argyris, Y. A., Wang, Z., Kim, Y., & Yin, Z. (2020). The effects of visual congruence on increasing consumers’ brand engagement: An empirical investigation of influencer marketing on Instagram using deep-learning algorithms for automatic image classification. Computers in Human Behavior, 112, 106–443. https://doi.org/10.1016/j.chb.2020.106443
Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of Marketing. Pearson Australia
Aswani, R., Kar, A. K., Ilavarasan, P. V., & Dwivedi, Y. K. (2018). Search engine marketing is not all gold: Insights from Twitter and SEOClerks. International Journal of Information Management, 38(1), 107–116. https://doi.org/10.1016/j.ijinfomgt.2017.07.005
Bazzaz Abkenar, S., Haghi Kashani, M., Mahdipour, E., & Jameii, S. M. (2021). Big data analytics meets social media: A systematic review of techniques, open issues, and future directions. Telematics and Informatics, 57, 101–517. https://doi.org/10.1016/j.tele.2020.101517
Benslama, T., & Jallouli, R. (2020). Clustering of Social Media Data and Marketing Decisions. In M. A. Bach Tobji, R. Jallouli, A. Samet, M. Touzani, V. A. Strat, & P. Pocatilu (Eds), Digital Economy. Emerging Technologies and Business Innovation, 53–65. Springer International Publishing. https://doi.org/10.1007/978-3-030-64642-4_5
Borden, N. H., Frame, S., Gordon, W. C., & Smith, C. W. (1954). An appraisal of census programs for marketing uses. Journal of Marketing, 18(4), 331–360.
Borden, N. H. (1986). Marketing management: Analysis, planning and control. Journal of Marketing, 37, 110.
Campbell, C., Sands, S., Ferraro, C., Tsao, H.-Y., & Mavrommatis, A. (2020). From data to action: How marketers can leverage AI. Business Horizons, 63(2), 227–243. https://doi.org/10.1016/j.bushor.2019.12.002
Chebil, M., Jallouli, R., Bach Tobji, M., & Ben N’cir, C. (2021). Topic Modeling of Marketing Scientific Papers: An Experimental Survey, 147–171. https://doi.org/10.1007/978-3-030-92909-1_10
Danese, P., Manfè, V., & Romano, P. (2017). A Systematic Literature Review on Recent Lean Research: State‐of‐the‐art and Future Directions. International Journal of Management Reviews, 20(2), 579–605. https://doi.org/10.1111/ijmr.12156
Daniels, R. A., Pemble, S. D., Allen, D., Lain, G., & Miller, L. A. (2021). LinkedIn Blunders: A Mixed Method Study of College Students’ Profiles. Community College Journal of Research and Practice, 0(0), 1–16. https://doi.org/10.1080/10668926.2021.1944932
Elansary, A. I. (2006). Marketing strategy: Taxonomy and frameworks. European Business Review, 18(4), 266–293. https://doi.org/10.1108/09555340610677499
Galetsi, P., Katsaliaki, K., & Kumar, S. (2020). Big data analytics in health sector: Theoretical framework, techniques and prospects. International Journal of Information Management, 50, 206–216. https://doi.org/10.1016/j.ijinfomgt.2019.05.003
Gani, A., Siddiqa, A., Band, S., & Nasaruddin, F. (2015). A survey on Indexing Techniques for Big Data: Taxonomy and Performance Evaluation. Knowledge and Information Systems, 46, 141–284. https://doi.org/10.1007/s10115-015-0830-y
Golden, J., & Caruso-Cabrera, M. (2016). ‘Why Marriott is so interested in your social media’. CNBC. Available at http://www.cnbc.com/2016/08/02/why-marriott-looks at-what-you-post-on-social-media-from-your-room.html
Grewal, D., Hulland, J., Kopalle, P., & Karahanna, E. (2020). The future of technology and marketing: A multidisciplinary perspective. Journal of the Academy of Marketing Science, 48, 141–284. https://doi.org/10.1007/s11747-019-00711-4
Grimes, S. (2013). ‘The rise and stall of social media listening. Information Week’. Information Week. Accessed 18 March 2013. Available at https://www.informationweek.com/information-management/the-rise-and-stall-of-social-media-listening
He, W., Wu, H., Yan, G., Akula, V., & Shen, J. (2015). A novel social media competitive analytics framework with sentiment benchmarks. Information & Management, 52, 801–812. https://doi.org/10.1016/j.im.2015.04.006
He, W., Zhang, W., Tian, X., Tao, R., & Akula, V. (2018). Identifying customer knowledge on social media through data analytics. Journal of Enterprise Information Management, 32, 152–169. https://doi.org/10.1108/JEIM-02-2018-0031
Hong, P. V., & Nguyen, T. (2020). Factors affecting marketing strategy of logistics business: Case of Vietnam. The Asian Journal of Shipping and Logistics, 36, 224–234. https://doi.org/10.1016/j.ajsl.2020.03.004
Investopedia. (2021). ‘What is Marketing Strategy?’ Investopedia, December 2021. Available at https://www.investopedia.com/terms/m/marketing-strategy.asp
Kaabi, S., & Jallouli, R. (2019). Overview of E-commerce Technologies, Data Analysis Capabilities and Marketing Knowledge. In R. Jallouli, M. A. Bach Tobji, D. Bélisle, S. Mellouli, F. Abdallah, & I. Osman (Eds), Digital Economy. Emerging Technologies and Business Innovation, 183–193. Springer International Publishing. https://doi.org/10.1007/978-3-030-30874-2_14
Kim, Y., Dwivedi, R., Zhang, J., & Jeong, S. R. (2016). Competitive intelligence in social media Twitter: IPhone 6 vs. Galaxy S5. Online Information Review, 40, 42–61. https://doi.org/10.1108/OIR-03-2015-0068
Kitchin, R. (2014). The Data Revolution: Big Data, Open Data, Data Infrastructures and Their Consequences. SAGE.
Laney, D. (2001). ‘3D data management: Controlling data volume, velocity, and variety’. META Group.
Lee, I. (2018). Social media analytics for enterprises: Typology, methods, and processes. Business Horizons, 61(2), 199–210.
Lynn, T., Healy, P., Kilroy, S., Hunt, G., van der Werff, L., Venkatagiri, S., & Morrison, J. (2015). Towards a general research framework for social media research using big data. 2015 IEEE International Professional Communication Conference (IPCC), 1–8. https://doi.org/10.1109/IPCC.2015.7235843
Lv, Z., Song, H., Basanta-Val, P., Steed, A., & Jo, M. (2017). Next-Generation Big Data Analytics: State of the Art, Challenges, and Future Research Topics. IEEE Transactions on Industrial Informatics, 1–1. https://doi.org/10.1109/TII.2017.2650204
Marine-Roig, E., & Anton Clavé, S. (2015). Tourism analytics with massive user-generated content: A case study of Barcelona. Journal of Destination Marketing & Management, 4(3), 162–172. https://doi.org/10.1016/j.jdmm.2015.06.004
McCarthy, E. J., & Perreault, W.D. (1987). Basic Marketing, 9th Edition. Richard D. Irwin, Homewood, IL.
McDonald, M. (1996), Strategic Marketing Planning, 2nd Edition. Kogan Page, London.
Mustapha, B. (2017). Effects of Marketing Mix Strategy on Performance of Small Scale Businesses in Maiduguri Metropolitan, Borno State Nigeria. Journal of Marketing and Consumer Research, 31(2), 1–6.
Ng, S., Sweeney, J., & Plewa, C. (2020). Customer Engagement: A Systematic Review and Future Research Priorities. Australasian Marketing Journal (AMJ), 28, 235–252. https://doi.org/10.1016/j.ausmj.2020.05.004
Rathore, A. K., & Ilavarasan, P. V. (2020). Pre- and post-launch emotions in new product development: Insights from twitter analytics of three products. International Journal of Information Management, 50, 111–127. https://doi.org/10.1016/j.ijinfomgt.2019.05.015
Ritonga, H., Setiawan, N., El Fikri, M., Ritonga, C. P. M., Hakim, T., Sari, M., Rossanty, Y., & Nasution, M. D. T. P. (2018). Rural tourism marketing strategy and swot analysis: A case study of bandar pasir mandoge sub-district in north sumatera. International Journal of Civil Engineering and Technology, 9, 1617–1631.
Rusetski, A. (2014). Pricing by intuition: Managerial choices with limited information. Journal of Business Research, 67, 1733–1743. https://doi.org/10.1016/j.jbusres.2014.02.020
Saggi, M. K., & Jain, S. (2018). A survey towards an integration of big data analytics to big insights for value-creation. Information Processing & Management, 54(5), 758–790. https://doi.org/10.1016/j.ipm.2018.01.010
Statista. (2021). ‘A Minute on the Internet in 2021’, Statista, July 2021. Available at https://www.statista.com/chart/25443/estimated-amount-of-data-created-on-the-internet-in-one-minute/
Stieglitz, S., Mirbabaie, M., Ross, B., & Neuberger, C. (2018). Social media analytics – Challenges in topic discovery, data collection, and data preparation. International Journal of Information Management, 39, 156–168. https://doi.org/10.1016/j.ijinfomgt.2017.12.002
Paul, J., & Rosado-Serrano, A. (2019). Gradual Internationalization vs Born-Global/International new venture models: A review and research agenda. International Marketing Review, 36(6), 830–858. https://doi.org/10.1108/IMR-10-2018-0280
Pournarakis, D. E., Sotiropoulos, D. N., & Giaglis, G. M. (2017). A computational model for mining consumer perceptions in social media. Decision Support Systems, 93(C), 98–110. https://doi.org/10.1016/j.dss.2016.09.018
Tdan. (2018). ‘The Impact of Big Data on Marketing’ Tdan, November 2018. Available at https://tdan.com/the-impact-of-big-data-on-marketing/24044
Toivonen, T., Heikinheimo, V., Fink, C., Hausmann, A., Hiippala, T., Järv, O., Tenkanen, H., & Di Minin, E. (2019). Social media data for conservation science: A methodological overview. Biological Conservation, 233, 298–315. https://doi.org/10.1016/j.biocon.2019.01.023
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review. British Journal of Management, 14, 207–222. https://doi.org/10.1111/1467-8551.00375
Vincent, L. H. (2008). Marketing strategy considerations in the commercialization of new technologies: An overview and framework for strategy development. In G. D. Libecap & M. C. Thursby (Eds), Technological Innovation: Generating Economic Results, 18, 173–200. Emerald Group Publishing Limited. https://doi.org/10.1016/S1048-4736(07)00006-9
Vrontis, D., Makrides, A., Christofi, M., & Thrassou, A. (2021). Social media influencer marketing: A systematic review, integrative framework and future research agenda. International Journal of Consumer Studies, 45, 217–644 https://doi.org/10.1111/ijcs.12647
Wang, C., & Chugh, H. (2013). Entrepreneurial Learning: Past Research and Future Challenges. International Journal of Management Reviews, 16, 24–61. https://doi.org/10.1111/ijmr.12007
Wang, Y., Deng, Q., Rod, M., & Ji, S. (2020). A thematic exploration of social media analytics in marketing research and an agenda for future inquiry. Journal of Strategic Marketing, 29, 1–21. https://doi.org/10.1080/0965254X.2020.1755351
Wong, H. Y., & Merrilees, B. (2007). Closing the marketing strategy to performance gap: The role of brand orientation. Journal of Strategic Marketing, 15, 387–402. https://doi.org/10.1080/09652540701726942
Yunus, E., Susilo, D., Riyadi, S., Indrasari, M., & Putranto, T. D. (2019). The effectiveness marketing strategy for ride-sharing transportation: Intersecting social media, technology, and innovation. Entrepreneurship and Sustainability Issues, 7(2), 1424–1434. https://https://doi.org/10.9770/jesi.2019.7.2(44)
Zhang, Z., He, Q., & Zhu, S. (2017). Potentials of using social media to infer the longitudinal travel behavior: A sequential model-based clustering method. Transportation Research Part C: Emerging Technologies, 85, 396–414. https://doi.org/10.1016/j.trc.2017.10.005
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Jun 10, 2022
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Benslama, T., & Jallouli, R. (2022). Social Media Data Analytics for Marketing Strategies: The Path from Data to Value. Journal of Telecommunications and the Digital Economy, 10(2), 96–110. https://doi.org/10.18080/jtde.v10n2.523
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Special Issue: Digital Technologies and Innovation
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