One of the things marketers want to do is to humanize their brand” (Houssem, 2013, para 1). By utilizing social media, the companies are constructing the advertising tactic of relating to the audience better. The popularity of social media is growing so rapidly, that companies have no choice but to join in. 80 percent of the top 100 fortune companies are using social media to better engage with their customers. Among them, Ford has an open minded mentality toward new marketing techniques.
How to increase business with Social Media Marketing Did you know more than 92% of small business owners strongly agree to the importance of social media marketing for business? Or that social media marketing has a 100% higher lead-to-close rate than outbound marketing? According to Marketing Guru Neil Patel- “Social media is the fastest growing trend in the history of the world.” What is social media marketing? As per Wikipedia “Social media marketing is the process of gaining website traffic or attention through social media sites.” However, Neil Patel again defines it appropriately Regardless of the industry, you serve, investing in social media marketing will help your organization grow. Not only in terms of dollar-dollar bills
Appears that anywhere you look today you will find someone using social media. With advertisements and commercials even billboards Social Media appears to be anywhere you look. Social Media is such a big thing today, according to study provided by the website Socialnomics, individuals devote 700 billion minutes every month on Facebook (statisticbrain.com). Social Media has now become so much better for advertising that it is changing how business is done. Look past the posters in social media sites as LinkedIn and Facebook, there is a craze developing and corporations are finding themselves more so operating with social links for routine business.
Despite the increasing competition in the internet sphere, LinkedIn has been performing since its establishment in 2003. LinkedIn is always going to have the benefit of being pioneer in launching a website that targeted the specific niche of professionals for networking and recruiting. As of March 2012, LinkedIn was declared as the largest professional network on the internet with revenue of $522.2 million in 2011. By 2012, the website has more than 150 million members in over 200 countries. The success of LinkedIn can be determined from the fact that it is the first major U.S. social networking company that completed its initial public offering in 2011 by raising an aggregate of $270.2 million for general corporate purposes and working capital (Our Social Times, 2012).
– Lenskold and Pedowitz Groups As per Campaign Monitor, about 53 percent of emails are opened on mobile devices. Around 74 percent of marketers believe personalization drives engagement. – eConsultancy When it comes to acquiring new customers, email is 40 times more effective than social media channels like Facebook or Twitter. – McKinsey No doubt, email marketing has a long way to go because it is vibrant, highly efficient, powerful, and inexpensive way to target new customers and sustain existing ones. This marketing technique strengthens the relationship between brand and customers, and also encourages customers to repeat business.
Social media marketing is a new trend of marketing where different Businesses have taken to social media sites to market and promote old and existing products and brands or create more awareness of their new products. Facebook and Twitter are the two most well known sites where firms market and promote themselves. Over one billion users worldwide use both sites everyday; from averages Joe’s to famous celebrities. Such is the power of each social media site that one post can make or break you. Forbes estimated that in 2011, Facebook and its founder Mark Zuckerberg were worth an estimated 50 billion dollars as a result of its growing popularity.
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.
It is proved that developing social media has improved the marketing platform. According to many marketing consultants, social media marketing efforts get up to 50% better return than tradition average tv or radio spot (Horovitz). These reviews show the growing connection American has with social media. Also, according to my research, “more than 80% of small companies use social media to promote their businesses list Facebook as their top marketing tool, followed by LinkedIn and Twitter, according to a recent survey of 2,292 small businesses by Webs” (Loten). This information shows the impact of social media on small businesses.
To create and maintain healthy levels of firm value, profitability and other factors essential in running a successful business, organisations like Facebook understand the significance of customers being central to all their marketing activities (Pride et al. 2012, p.4). This essay will analyse Facebook’s billion dollar purchase of the photo sharing app Instagram in 2012, in the context of the article ‘Facebook buys Instagram for $1 billion’. Further on, this paper will explore the theory of customer orientation as a marketing concept and evaluate how Facebook’s acquisition is an example of this notion. Zuckerberg (2012) states that as a result of the change in business, the Facebook brand with be expanded, while also becoming competitor orientated.
Organic Twitter: 8-9% Paid Twitter: 1-3 % Facebook organic: 20-30% Facebook ads: 18-20% According to the famous company ceo chairman stated that “we’re getting incredible engagement numbers between 3-5% of average promoted tweets from the customer”. Twitter takes the tweets as the clickthrough, but it also counts retweets, number of replies and favorites in its engagement numbers. Meaning of that is part of ROI includes one-one conversations with fans of the brand. So that we find how we get more engagement via the social media. This social media is not only the ...