Marketing Midterm

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1. Critique on this comment: "People are spending most of their time online and they are communicating via social networking platforms like Twitter and Facebook. As such, there's no need for companies to advertise in traditional media such as TV, newspaper or radio anymore."

Social media tools like Twitter and Facebook have taken the world by storm, as is expected of any social networking platform of such colossal magnitude. According to a survey from Constant Contact a company that facilitates social marketing, there has been a rapid increase in social media use to promote businesses. Nearly three-quarters of all small business owners are now turning to social media as a means of marketing their business. The 2012 Social Media Marketing report indicates that a “significant 83% of marketers said that social media was important to their businesses.” In spite of significant statistics such as these and the fact that more people are spending their time online, several of these surveys also report that new media has not completely replaced old marketing methods but has instead enhanced them. Small businesses are still relying heavily on email, website, and event marketing as well as advertising to drive their business.

With social media efforts growing, there has actually been no real decline in the use of other marketing tools. The Constant Contact survey found that 91 percent of small businesses use email marketing, 95 percent use website marketing, 77 percent use print advertising, 69 percent use online advertising, and 53 percent use event marketing. These findings indicate that social media marketing is definitely complementary and additive, but not a complete replacement to more traditional marketing methods. Businesses can improve their results with integrating tools such as email marketing with social media marketing to benefit from both worlds. While social media is a more cost effective method of marketing, the return on investment can only be...
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