CURRENT EVENTS ANALYSIS:
TRADITIONAL MEDIA MARKETING VS. SOCIAL MEDIA MARKETING
With every passing second, we get more connected. The use of social networks is at an all time high among consumers and businesses alike. Facebook boasts 900 million users; YouTube gets 4 billion views per day, and Twitter reports that 1 billion tweets are sent per week. The numbers are staggering, the growth shows no sign of slowing, and the writing is on the wall; if you want to reach consumers, social media is the place to do it. Or is it?
The Dilemma Businesses Face
Some would argue that with defined audience segmentation and on target offers, traditional marketing is still very effective when acquiring some customer segments. Is it possible that power of traditional channels is as strong as that of social channels? Traditional media proponents argue that traditional media has stability and credibility. After all, businesses have been marketing in newspapers for well over 100 years; Facebook isn’t even 10 years old. So what is the answer? Where do savvy businesses invest their marketing dollar?
The Argument For Social Media
Social media not only offers businesses the ability to engage potential clients, but also revolutionizes the customer service provided to existing clients. By monitoring mentions, tweets, wall posts, and other social communications, businesses are able to identify and deliver immediate solutions to negative customer comments and/or experiences. But does this alone warrant a shift from traditional media to social media? Let’s talk about the ability to increase revenue using social engagement, by engaging potential clients and building brand awareness through social channels. Social media provides businesses an opportunity to engage their potential customers at the precise moment that person is in need of the businesses offering. For example, a social savvy retail shoe outlet may be monitoring Twitter for users tweeting...
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