SOCIAL MEDIA MARKETING TAKES OFF
Social Media Marketing Takes Off
Dr. Deborah Hill
Social Media Marketing Takes Off
Marketing is known as an organizational function and a set of processes for creating, communicating and delivering values to customers while maintaining customer relations (Boone & Kurtz, 2012). Social media marketing is using social networks to foster this communication and customer relations. Social media marketing has revolutionized the way companies of varying sizes advertise and market products and/or services, but why is social media become exceedingly popular? Social media is a method of communication between individuals and sharing of ideas and thoughts through virtual media. Most individuals are very familiar with social media (Facebook, Twitter, Instagram etc.). Many individuals use these sites daily to communicate with colleagues, friends and families. Companies however have decided to do away with the some of the traditional marketing techniques and migrate to social media to market. Advantages of Social Media Marketing
There are many advantages to using Social media as a means of marketing. One of the top outstanding reasons is that this form of marketing is cost effective. Advertising with Social Media versus traditional advertising such as commercial and radio ads seem to be more cost effective. Just think TV and Radio advertising spots are normally sold in time increments, when advertising or marketing with Social Media there are no time restraints and the target audience that would be touched in a 30 second prime time television ad would differ greatly than the audience that can be touched in a 30 second social media conversation. Social media is transforming marketing in a cost effective way because it offers a new collaborative mean along with an authentic voice of a company (Wilson, 2009). Social Media marketing facilitates open communication with an array of markets, so companies are able to target different groups. Since social media takes place in the virtual environments it also allows for a company to expand its market research. Companies are able to create online focus groups to gather a sense of what the consumer may want. Which in turn allows a company to build a relationship with consumers that can seem almost personal giving consumers the sense of security and belonging to a brand, product or service. Social Media fields such as Twitter, Facebook and YouTube allows not only company employees to post information regarding their products and services, but customers are also able to facilitate in posting , ideas, suggestions, likes or dislike or create their own videos and blogs that can help others review common views or uses on products or services. Word of mouth of Social media communication travels at the speed of light, so using this form of marketing is a very quick way to get a product and service seen or heard of. With Social Media marketing companies are able to check on other companies who they may be in competition with and view the comments or video of their customers to reassess their stance and give a view into how to gain that customer from them or this view can also allow company A to review their product or service to better target a different group. The various ways social media can be used can drive traffic and business to a company’s site. A thrifty and educated CMO (Chief Marketing officer) will observe the different marketing tactics and based on their evaluation be able to decide which environment within social media will better facilitate the goal for the organization. Disadvantages of Social Media Marketing
In spite of its countless advantages Social Media marketing is extremely time consuming. Social media is a medium that is ever changing. What may have been posted ten minutes ago in a discussion thread may no longer be relevant because the discussion could have turned...
References: Boone, L. E. & Kurtz, D. L. (2012 Update). Contemporary business (14th ed.). Hoboken, NJ: John Wiley & Sons.
Lipsman, A., Mud, G., Rich, M., & Bruich, S. (2012). The Power of "Like": How Brands Reach (and Influence) Fans Through Social-Media Marketing. Journal Of Advertising Research, 52(1), 40-52. doi:10.2501/JAR-52-1-040-0
Old Spice Case Study: Effectively harnessing social media in personal care. (2010). Old Spice Case Study: Effectively Harnessing Social Media in Personal Care, 1-21.
Wilson M. Social media makes sense for frugal CMOs. B to B [serial online]. January 19, 2009:9. Available from: Business Source Complete, Ipswich, MA. Accessed August 25, 20
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