In a recent blog, “92% of marketers in 2014 claimed that social media marketing was important for their business, with 80% indicating their efforts increased traffic to their websites.” (Demers, 2014). Marketers can view their company revenue generated given credit to rise in sales and advertisement. Conveniently, the company can focus their efforts in areas needing improvement with live blogs, and feedback consumers discuss in various forums associated with networking sites. It is a selling point for entrepreneurs to promote their brand and establish steady clientele using innovative, and creative advertising on social media platforms. The idea is to create a strong following and making the brand known by gaining as much exposure as possible, building rapport, and tracking progress with consumers on various media outlets.
These sites are the best way to target a number of customers. Many businesses use social networking to promote their business, advertise about their new products, hire people etc. Social networking brings a lot of advantages for a business. It has a broad reach, people of every age use these sites, and major portion of population is now on social networking sites. Moreover it is a really fast mode of spreading information; just one click can inform everyone about a new launched product.
1. Evaluate the reasons Social Media Marketing has become exceedingly popular among businesses of all sizes. I have evaluated what Social Media refers to; the interaction among people in which they create, exchange the share of information through virtual communities. This gives businesses the ability to share news about their products and services offered through Social Media which in turn leaves room for marketing. Social Media Marketing is an alternative to traditional marketing in reference to accessing large groups of potential consumers.
Many companies ask these questions: What is social media really doing for us? Will it bring in new customers? In many ways social media can add strength and value to your business or organization. Social media is treated like a broadcast platform, which allows information to move faster. Social media marketing is the process of promoting your site or business through social media channels and it is a powerful strategy that will get you links, attention and massive amount of traffic.
More money is being spent more on social media marketing because; through social media customers are given ways to provide insight about brands and their creditability. These changes impacts the way companies have to look at embracing their objective audience. Sites such as Facebook, Twitter, LinkedIn, Tumblr, etc. all have opened up very precise personal information that most marketing departments of companies are highly interested in. For example it can help the company know want now, what they do not like, and what they hope to see in the future.
The 21st century has brought about an abundance of technological advancements spanning all types of business. From biomedical advancements to new forms of energy and transportation, we are living in a changing world. One of the biggest changes in our current society includes the reliance and growing use of technology, specifically social media. Social media has exploded in recent years and continually gains popularity. Sites like Facebook, Twitter and Instagram have millions of avid users, and that number grows every day.
With the help of the Internet a company no longer is dependent on a particular customer base to survive because now it can reach out to a worldwide audience within seconds. It’s imaginable the countless business attributes of all social media to this day and still is growing. Social media has brought great business benefits to the business world because it gives higher brand visibility, generates new customers, is cost effective, and introduces social networking. Social media has helped businesses grow in tremendous ways especially in brand awareness. Lets face it, when we are signing on to our social networks, checking our email, and even looking something up we are constantly bombarded with advertisements.
The Importance of Social Media in the World of Business Through these past years, social media has taken communication to a new level worldwide and, new technology has taken place at the beginning of this century. In this generation, social media has become an important part of people’s daily life around the world. Social media is defined as online websites, and applications that users use to share content on the internet. Some of the popular social media tools, and sites includes: Twitter, Facebook, Instagram, and many others. Disregarding the fact that social media has become an important aspect in the lives of teenagers to connect with their friends as well as making new friends; it is increasingly becoming a necessary component in the
Social media include networks (e.g., Facebook), wikis (e.g., Wikipedia), multimedia sharing sites (e.g., YouTube), bookmarking sites (e.g., Del.icio.us), virtual worlds (e.g., Second Life), and rating sites (e.g. Yelp) that allow people to interact with each other and share information about products and brands (Edwards, 2011). This represents the social media phenomenon, which can now significantly impact a firm's reputation, sales, and even survival (Kietzmann et al, 2011). Social media holds enormous potential for companies to get closer to customers and, by doing so, increase revenue, cost reduction and efficiencies (Heller Baird and Parasnis 2011) and should be considered by all businesses. Three key areas to consider ahead of engaging in social media are: What channels are most appropriate to reach customers?
Social media has opened up a plethora of opportunities for businesses to advertise, promote and market themselves to consumers. Social media “is one of the fastest growing and most promising strategies a business can employ to boost sales and conversions” (Adobe). As social media continues to grow as a marketing tool, more and more companies have incorporated social media into their daily business activity for brand awareness, target market reach, business expansion and customer interaction. The use of social media substantially helps gather all types of fans of a brand or company together and allows them to interact and cooperate with one another, create an identity and communicate their interest for this specific brand or set of products. Take for example Kraft Foods campaign for the one hundredth anniversary for Oreo cookies.