This can make huge effects on marketing and business success because there are a number of people, especially teenagers, who follow famous people in social network. In conclusion, social media is a necessary tool for marketing strategy. Marketing teams can interact with customers by receiving some feedbacks. Those comments can persuade other new customers about our products and services through social media. Additionally, social media is a convenient channel for people to access.
Social Media Analytics: Understanding the Functional building blocks Pros and Cons Introduction Every day, prospective consumers and customers propose feedback and engage in online discussion about businesses on sites like Twitter, Facebook etc. Social media, which are easy-to-access tools that allow digital communication and teamwork, are progressively making an influence on the global world. Social media has stretched from its beginning in the end user space to the point at which its result on brand and commercial reputation can be immediate and influential. Thus companies are discovering the importance to scrutinize and quantify this emerging space. The source of data for Social media is wide spread: Blogs (Blogger, LiveJournal), Micro-blogs
There are many advantages of using social media for the purpose of marketing, some of which are enlisted below: Visibility is an important factor in Social Media Marketing, because the more a website and its content will be visible in the internet will be more number of viewers. The number of viewers decide that the effectiveness of Social Media Marketing a business website is. Website traffic is a crucial aspect of Social Media Marketing. In fact, the number of hits and views your site is getting in a day. This factor is determined by the visibility of the website and its content on the Internet.
Also the global aspect that social media offers will replace the conventional way products are advertised. Social media is a great source for companies to use to get a large amount of advertisement to the public in the shortest amount of time. Most organizations have invested in social media departments to stay current on this growing technology. They have also decreased funds to other departments like print and television because of the cost of marketing. The ability for the public to share content instantly to others is the future of marketing.
The advanced sharing and targeting offered by the social media are effective because these platforms capture their audience in a wide variety of ways (Tobias, 2011, p.32). Going beyond the general geographic and population data, these platforms have opened doors for behavior and connection-based targeting options. The advanced targeting offered by the social media platforms increases the relevance of the ads the users (Safko, 2010, p.34). They also create a level of personalization that would be difficult to achieve when using other advertising platforms. The increased efficiency of social media advertising is possibly the reason behind the increased number of businesses that has created
Facebook, Twitter and other social media sites help to target larger community and thus it becomes easy to connect with the audiences more effectively. Combining all the digital marketing activities and developing customer perception, helps the organization to develop the consumer awareness. Developing effective customer perception helps in redefining brand awareness and brand
Shkolnik (2014) shares how to use the right tools in the right time “ To structure your approach you must start by targeting your audience, then find relevant content that interest your audience segments, after that you must manage your campaign, then Measure the results, finally use multi-functional tools to help find audience platforms.” (Shkolnik, 2014) Entrepreneur.com (2014) reporter reported about tips and tools to use in marketing using social media “ Firstly, by using Twitter your tweets must stand out, second write longer posts, third when using Facebook strengthen your network, fourth allure them to use like buttons, fifth post regularly and customize them, sixth connect with others, seventh share and highlight your positive feedbacks, eighth and lastly do not hesitate or be afraid of using new and unusual ideas.” (Zipkin, 2014). As written in Forbes Online Magazine (2014) “ Effects and how social media marketing improves your business by getting recognized, improve brand loyalty from customers, new customers or converters, higher conversion rates in different ways, higher brand authority, increased inbound traffic, lower costs, and improved customer insights.” (DeMers,
ADVANTAGES AND DISADVANTAGES OF USING SOCIAL MEDIA AS A MARKETING TOOL Many businesses are investigating how social media can help them promote their products and services to potential and existing customers. Social networking sites like Facebook and Twitter have transformed the way some businesses think about advertising. Some businesses direct customers toward their social network pages more than they direct them to their own websites. There are certain advantages to market via social media, but there are also related drawbacks as well. To understand better about the advantages of social media marketing, there are five main advantages to succeed in this field: Cost Related Social Interaction Interactivity Targeted Market Customer
Increased loyalty and advocacy from the customers an organization is connected with. Disadvantages An organization will need to commit resources to manage its social media presence, responding to feedback and producing new content It can be difficult to quantify the return on investment and the value of one channel over another Ineffective use - for example, using the network to push for sales without engaging with customers, or failing to respond to negative feedback - may damage organization’s reputation. The wrong online brand strategy could put an organization at a viral social disadvantage and may even damage it’s reputation, i.e, when an organization makes a mistake offline, a few will know but when it makes a mistake in front of hundreds or thousands of online audience, most of them will know 1.4 Types of Social Media Platforms And Current Usage: Social media tools are categorised based on their functionality, into various groups. These groups include blogs, message boards, podcasts, micro blogs, bookmarks, networks, communities etc. A few prominent examples of social media applications and their use are listed in the following
Hassan et al. (2015) found that social media can be a powerful advertising tool as it can reach a wider audiences very quickly and be able to attract and influence consumers to make purchasing decisions. The study further argued for anthe effective role of that social media can play in the relationship marketing. Consistent communication with customers regarding new products and services and after sales-related issues are supported well by the social media