Social media plays a crucial role as a marketing tool for promoting new products. It serves as a platform to educate consumers about product features and advantages over competitor offerings.
A recent study conducted by the University of Notre Dame explores the impact of social media promotion in the motion picture industry and provides insights on how marketers can effectively promote new products.
The study, titled “The Ripple Effect of Firm-Generated Content on New Movie Releases,” was published in the Journal of Marketing Research. Lead author Shijie Lu, an Associate Professor of Marketing at Notre Dame’s Mendoza College of Business, along with co-authors Isaac Dinner from Indeed and Rajdeep Grewal from the University of North Carolina at Chapel Hill, analyzed 145,502 firm-generated and 5.9 million user-generated Twitter posts associated with 159 movies.
The findings of the study reveal a positive and significant ripple effect of firm-generated content (FGC) on movie sales. FGC stimulates user-generated content (UGC), leading to increased movie consumption.
Contrary to the common belief that social media directly influences consumer purchasing behavior, this research suggests that FGC indirectly impacts new product releases through UGC or word-of-mouth spread by followers of firms’ social media accounts.
The study focused on Twitter posts about movies released by the top 20 U.S. studios between January 2014 and June 2015. It examined movies associated with 486 unique Twitter handles, including 158 movie accounts, 310 actor and director accounts, and 18 studio accounts. An econometric analysis was conducted to assess the relationships between FGC, UGC, and box office sales.
Interestingly, the study found that FGC from the main movie account is more effective in driving sales compared to other firm-related accounts, including those of celebrity actors and directors who are active on social media. However, UGC resulting from the main account has an even greater impact on box office performances, indicating the significant role of fan-generated content.
In addition, regular FGC posts with movie-specific hashtags prove to be more effective in sparking conversations and generating engagement among followers compared to replies, retweets, and posts without hashtags.
The implications of this research extend beyond the motion picture industry and can be applied to other products such as TV shows, games, music, and books.
More information:
Shijie Lu et al, The Ripple Effect of Firm-Generated Content on New Movie Releases, Journal of Marketing Research (2022). DOI: 10.1177/00222437221143066
Citation:
Social media marketing shown to be most effective when it prompts consumers to start posting (2023, July 31)
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Jessica Irvine is a tech enthusiast specializing in gadgets. From smart home devices to cutting-edge electronics, Jessica explores the world of consumer tech, offering readers comprehensive reviews, hands-on experiences, and expert insights into the coolest and most innovative gadgets on the market.
Denial of responsibility! TechCodex is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
