The phenomenon of social networks and the effectiveness of Facebook page measuring (the case of Slovakia)

Economic Annals-ХХI: Volume 160, Issue 7-8, Pages: 83-87

Citation information:
Zorkociova, O., & Vankova, L. (2016). The phenomenon of social networks and the effectiveness of Facebook page measuring (the case of Slovakia). Economic Annals-XXI, 160(7-8), 83-87. doi: https://doi.org/10.21003/ea.V160-16

Otilia Zorkociova
PhD (Economics),
Associate Professor,
Faculty of Commerce,
Department of International Business,
University of Economics in Bratislava
1 Dolnozemska cesta Str., Bratislava, 85235, Slovak Republic
ozorkoci@hotmail.com

Lucia Vankova
Lecturer,
Faculty of Commerce,
Department of International Business,
University of Economics in Bratislava
1 Dolnozemska cesta Str., Bratislava, 85235, Slovak Republic
lucia.vankova1@gmail.com

The phenomenon of social networks and the effectiveness of Facebook page measuring (the case of Slovakia)

Abstract. The authors aim to identify the latest opinions regarding theoretical backgrounds of the current review of available platforms in the field of social media with a focus on social networks and how companies can use them for marketing communications. At the same time, the authors present the evaluation of the effectiveness of communication activities of Slovnaft. Slovnaft is a part of MOL Group and one of the key businesses in the Slovak market. It is also an integrated refinery and petrochemical plant, which is among the key industrial business entities in Slovakia. The evaluation is based on data of Facebook, the most famous social network, through LikeAlyzer portal, which allows us to compare Slovnaft results with its largest competitor in the Slovak market – OMV Slovakia. The results of the analysis demonstrate the level of effectiveness of communication activities of Slovnaft on the Facebook page as the current phenomenon in the market of social media from the perspective of consumers with regard to the technology options for the assessment of the companies’ communication activities effectiveness in the application of their innovative forms. The research was conducted in May, 2016. According to the data obtained from its Facebook, Slovnaft has more than 51,000 «likes» and its marketing communication, exercised through the social network Facebook, is set effectively within evaluations, overcoming its competitors.

Keywords: Interactive Marketing Communication; Social Networks; Facebook; Measurement of Social Media Marketing; SMM; LikeAlyzer; Slovnaft; OMV Slovakia

JEL Classification: M31; Z13

Acknowledgements. This paper was created within the project of the Scientific Grant Agency VEGA project No 1/0550/14.

DOI: https://doi.org/10.21003/ea.V160-16

References

1. Balaz, P., Hamara, A., & Sopkova, G. (2015). Competitiveness and its role in the national economy. Bratislava: Sprint 2 (in Slovak).
2. Zorkociova, O., Simorova, L., & Sasikova, M. (2014). Corporate identity as a strategic tool for companies to remain competitiveness in car industry during current financial and economic crisis. Journal of applied economics and business research, 4(1), 3-22.
   Retrieved from http://www.aebrjournal.org/uploads/6/6/2/2/6622240/joaebrmarch2014_3_22.pdf
3. Thornley, J. (2008). What is «social media»?
   Retrieved from http://propr.ca/2008/what-is-social-media
4. Albuqueque, P., Pavlidis, P., Chatow, U., Chen, K.-Y., & Jamal, Z. (2012). Evaluating Promotional Activities in an Online Two-Sided Market of User-Generated Content. Marketing Science, 31(3), 406-432.
   doi: http://dx.doi.org/10.1287/mksc.1110.0685
5. Zhanh, Z., Xin, L., & Yubo, Ch. (2012). Deciphering «Word»-of-Mouth in Social Media: Text-based Metrics of Consumer Reviews». ACM Transactions on Management Information Systems, 3(1), 5:1-22.
   doi: http://dx.doi.org/10.1145/2151163.2151168
6. Castronovo, C., & Huang, L. (2012). Social media in an alternative marketing communication model. Journal of Marketing Development and Competitiveness, 6(1), 117-134.
   Retrieved from http://www.na-businesspress.com/jmdc/castronovoc_web6_1_.pdf
7. Mathur, M., & Bush, V. D. (2011). Increasing advertising receptivity through social media engagement. Summary Brief. In Kehoe, W. J. & Whitten L. K. (Eds.). Society for Marketing Advances Proceedings 2011. Advances in Marketing: Sensory Marketing – The Next Frontier (pp. 119-120).
   Retrieved from http://c.ymcdn.com/sites/www.marketingadvances.org/resource/resmgr/
   imported/2011%20SMAProceedings.pdf
8. Boyd, D. M., & Ellison, N. B. (2007). Social network sites: Definition, history, and scholarship. Journal of Computer-Mediated Communication, 13(1), 210-230.
   doi: http://dx.doi.org/ 10.1111/j.1083-6101.2007.00393.x
9. Zavisic, S., & Zavisic, Z. (2011). Social network marketing. In D. Krizman-Pavlovic & D. Benazic (Eds.). 22^nd CROMAR Congress «Marketing challenges in new economy» Proceedings (pp. 1008-1019).
   Retrieved from http://bib.irb.hr/prikazi-rad?rad=529528
10. Zorkociova, O., & Vankova, L. (2014). Actual aspects of international marketing communication strategy of companies in the social networking environment. Ekonomika cestovneho ruchu a podnikanie (Economy of Tourism and Entrepreneurship), 6(1), 80-93 (in Slovak).
11. Moran, E., & Gossieaux, F. (2010). Marketing in a hyper-social world: The tribalization of business study and characteristics of successful online communities. Journal of Advertising Research, 50(3), 232-239.
    doi: http://dx.doi.org/10.2501/S0021849910091397
12. STATISTA (2016). Number of social network users worldwide from 2010 to 2018.
    Retrieved from http://www.statista.com/statistics/278414/number-of-worldwide-social-network-users
13. Cheema, A., & Kaikati, A. (2010). The effect of need for uniqueness on word of mouth. Journal of Marketing Research, 47(3), 553-563.
    doi: http://dx.doi.org/10.1509/jmkr.47.3.553
14. Trusov, M., Bucklin, R., & Puawels, K. (2009). Effects of word-of-mouth versus traditional marketing: Findings from an Internet social networking site. Journal of Marketing, 73(5), 90-102.
    doi: http://dx.doi.org/10.1509/jmkg.73.5.90
15. Kozinets, R., Valck de, K., Wojnicki, A., & Wilner, S. (2010). Networked narratives: understanding word-of-mouth marketing in online communities. Journal of Marketing, 74(2), 71-89.
    doi: http://dx.doi.org/10.1509/jmkg.74.2.71

Received 6.05.2015