Social Media Marketing brings new rules and opportunities to increase the awareness, profitability, and overall lifeline of your brand. A further understanding of your consumers, how they communicate, the experiences they’re looking to have, and where they’re located digitally is crucial. Your social media strategy will affect the chances of winning new customers, retaining current customers, future business expansion opportunities, talented employees, and better products. But don’t take the short way out. If at first you don’t succeed, don’t give up. Stray away from being comfortable and what’s safe. Social media is a marathon, not a sprint.
This is all somewhat depressing, but as my mom recently explained Facebook has given her the power to reconnect with friends and even family members that she hasn’t spoken to in over twenty years. We’ve all heard stories of long-lost siblings, lovers, and guardians finding each other via social platforms. Not to mention the powerful charitable movements like the Ice Bucket Challenge, which helped raise over $100 million for ALS, a 3,500% increase from the $2.8 million raised during the same time period the year prior, according to Forbes.
While traditional media, like newspapers and television advertising, are largely overshadowed by the rise of social media marketing, there is still a place for traditional marketing. For example, with newspapers, readership over the years has shown a decline. However, readership with newspapers is still fiercely loyal to print-only media. 51% of newspaper readers only read the newspaper in its print form, making well-placed ads valuable.
In addition, social media platforms have become extremely aware of their users and collect information about their viewers to connect with them in various ways. Social-networking website Facebook Inc. is quietly working on a new advertising system that would let marketers target users with ads based on the massive amounts of information people reveal on the site about themselves. This may be an unethical or ethical feature to some individuals. Some people may react negatively because they believe it is an invasion of privacy. On the other hand, some individuals may enjoy this feature because their social network recognizes their interests and sends them particular advertisements pertaining to those interests. Consumers like to network with people who have interests and desires that are similar to their own. Individuals who agree to have their social media profile public, should be aware that advertisers have the ability to take information that interests them to be able to send them information and advertisements to boost their sales. Managers invest in social media to foster relationships and interact with customers. This is an ethical way for managers to send messages about their advertisements and products to their consumers.
To this end, companies make use of platforms such as Facebook, Twitter, YouTube, and Instagram to reach audiences much wider than through the use of traditional print/TV/radio advertisements alone at a fraction of the cost, as most social networking sites can be used at little or no cost (however, some websites charge companies for premium services). This has changed the ways that companies approach to interact with customers, as a substantial percentage of consumer interactions are now being carried out over online platforms with much higher visibility. Customers can now post reviews of products and services, rate customer service, and ask questions or voice concerns directly to companies through social media platforms. According to Measuring Success, over 80% of consumers use the web to research products and services. Thus social media marketing is also used by businesses in order to build relationships of trust with consumers. To this aim, companies may also hire personnel to specifically handle these social media interactions, who usually report under the title of Online community managers. Handling these interactions in a satisfactory manner can result in an increase of consumer trust. To both this aim and to fix the public's perception of a company, 3 steps are taken in order to address consumer concerns, identifying the extent of the social chatter, engaging the influencers to help, and developing a proportional response.
Socialinsider. A social media analytics tool that analyzes the social media strategies of your competitors, Socialinsider enables you to better understand your rival’s operations so you can beat them at their own game, from content published to which ones are boosted the most. It covers popular social media platforms such as Twitter, Instagram, and Facebook. With its advanced machine learning algorithms, this solution competently handles all the grunt work in data collection, automatically delivering insights on a silver platter.