Social media marketing is simply using social media sites like Facebook, Twitter, LinkedIn, Pinterest, Google Plus+, Instagram, and more, to gain attention to a company or product. Companies use social media marketing to create sharable content that attracts potential customers and encourages them to share it across their social platforms. Below are some benefits of using social media marketing.
Before social media marketing, companies use to advertise on the television, radio, and billboards. All these have one common theme, there is no feedback coming back on the product being advertise. With social media, marketers can communicate with consumers to get a better idea of how a product is doing. Companies that communicate with consumers and welcome new ideas, can build a better brand loyalty.
Another benefit of marketing with social media is cost. Generally, companies only pay an employee to post on social media sites, but that company can post things and share it with the billions of people that use social media. Instead of spending money to advertise on many different billboards, social media reaches an audience through technology with just a simple click of a button. However, that does not mean there is not a strategy to using social media. Marketers should still create a marketing plan to evaluate situation analysis, objectives, and create goals.
There are social media objectives marketers should look at when branding a product. These include:
Listen to your customers – Monitor the various social media outlets to see what is being said about the product.
Build Relationships – Talk to customers about a product. Create surveys and take their feedback for what it is worth. If a person is deciding between two companies to buy a product, and one company shows they engage with customers, they will likely lean to that company to buy a product. Using social media to build relationships is key.
Promote Products – Social media lets customers talk about the product. The more people who know about a product, the more sales that product can generate. Just one Twitter retweet could reach thousands of people. So promoting products on social media can be financially beneficial.
Manage Reputation/Customer Service – Social media marketers should never be afraid to respond to feedback, whether it is good or bad. If a customer is not happy with a product and is voicing it all over social media sites, the marketer should respond to them and try to communicate with them as fair and reasonable as possible. Just talking to a customer with a negative experience may show the customer that the company really does care about them and that they will stay as a customer.
There are ways to track just how many people are seeing a post from a company. These social media metrics include:
Buzz – This is the volume of buzz that a consumer creates based on posts on the various social media sites throughout a certain time, day, or season.
Interest – Number of Facebook likes, Twitter favorites, fans, followers, friends, and/or growth rates are all ways to see just how much interest in a company or product.
Participation – Similar to interest, but this shows how much consumers are actually communicating with companies. Whether it be with comments, retweets, posts, and more.
One example of social media marketing is that companies use them to give away free stuff. There may be things like the first 100 retweets will get a free coupon, or the 500th like will win a free product. Also, companies can have plenty of contests through their social media platforms.
As you can see, social media marketing can be a huge tool to promote a business or product. The relationship that this brings with customers is something we did not see just ten years ago. Social media does change quite rapidly and it is up to companies to see what social media sites are the best to use to promote a product. Some things that are more suitable for Instagram, may not be as suitable for Facebook. One thing is for certain, social media marketing is here to stay.