Is Social Media Paying Its Money?
Theodoros Oikonomidis () and
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Theodoros Oikonomidis: University of Macedonia
Konstantinos Fouskas: University of Macedonia
A chapter in Strategic Innovative Marketing and Tourism, 2019, pp 999-1006 from Springer
Abstract Businesses are seeking to achieve customer engagement through social media these days. With Facebook providing ready online places for each individual account through Facebook marketplace, it has become significantly easier for someone to build his own business on social media, a trend widely accepted and continuously rising. New smartphone capabilities are utilizing innovative ways of promoting items through social media applications. Digital influencers are working in collaboration with big brands and are seeking customer attention with appealing advertisement. Social media are offering, to identify customer segments that a business is targeting more efficiently. Facebook is offering the promotion of businesses’ products for a fee and businesses require to know whether this investment will bring the required ROI. This research focuses on predicting this ROI by developing a prediction model that calculates the number of received likes of potential customers through Facebook. By utilizing a dataset with 500 different posts of a cosmetics company that uses promotions through Facebook, for a social media campaign that ran for 12 months, we have built a numeric prediction model that estimates the received number of a business “likes” in every single post that is published on Facebook.
Keywords: Customer engagement; Smartphone capabilities; Prediction model (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-12453-3_115
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