Social Media Marketing
BUS508: Contemporary Business
Evaluate the reasons Social Media Marketing has become exceedingly popular among businesses of all sizes.
Before evaluating the many reasons why Social Media Marketing has become the new and improved way for businesses to advertise, let us first discuss exactly what Social Media Marketing is. To explain this in detail I have chosen to first define marketing and then social media. This breakdown analysis will allow you to fully grasp the importance and meaning of the term, while also allowing you the opportunity to easily determine why Social Media Marketing has become so popular among businesses. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Boone & Kurtz, 2012). Proper marketing strategies allow for businesses to sell their goods and services. The underlying rule is to ensure consumers always get what they want and to anticipate their needs before they ever surface. Marketing has always been part of business, from the earliest village traders to large 21st-century organizations producing and selling complex goods and services (Boone & Kurtz, 2012). Marketing has evolved over time and is now in the relationship era, making Social Media Marketing relevant and more important than ever before. Social Media is text, words, pictures, video, and the like created with the intention of sharing (Evans, 2012). This definition only opens the door to the term, merely scratching the surface of its full meaning. Though Wikipedia is not considered to be a quality academic resource, therefore not an acceptable reference, I understand that using it will not count as sufficient source. But considering this paper is based on Social Media and Wikipedia is a socially built online encyclopedia I feel that it serves as a prime example of what Social Media is and it also offers an exceptional definition of the term as well. Wikipedia defines Social Media as the use of web-based and mobile technologies to turn communication into an interactive dialogue. Social Media comes in many forms, a few of the most popular being: blogs, microblogs (Twitter), social networks (Facebook, LinkedIn), media-sharing sites (YouTube, Flickr), social bookmarking and voting sites (Digg, Reddit), review sites (Yelp), forums, and virtual worlds (Second Life) (Zarrella, 2010). One huge factor for Social Media Marketing becoming exceedingly popular among businesses of all sizes is due to the enormous number of social network users and how the use of these networks allows organizations to learn more about their target audiences. On November 12, 2012 Statistic Brain Research Institute reported that there were 1.2 billion Facebook members and the average amount of time these members were using Facebook in a given month was 15 hours and 33 minutes. Social Media Marketing presents businesses with unbelievable amounts of advertising opportunity, like none other before. For example, radio took 38 years to reach 50 million users, television took 13 years to reach 50 million users, the internet took 4 years to reach 50 million users, iPod took 3 years to reach 50 million users, but Facebook added 200 million users in only 9 months (Sheals, 2012). If these numbers are not grabbing your attention and making it obvious for you to see why Social Media Marketing is so popular and important for businesses, we may not be reading the same page. It has been said that from a marketer’s perspective, Social Media is not a “thing” in the sense that direct mail or television advertisings are, but rather is a collaborative process, through which information is created, shared, altered, and destroyed (Evans, 2012). Given that Social Media Marketing can be delivered in an array of different channels is yet another reason why its popularity has soared. Social networks...
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