What really the concept of Social Media Marketing
Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers.
Most media marketing platforms have built-in data analytics tools, enabling companies to track the progress, success, and engagement of ad campaigns. Companies address a range of stakeholders through media platforms, including current and potential customers, current and potential employees, journalists, bloggers, and the general public.
On a strategic level, SMM includes the management of a marketing campaign, governance, setting the scope and the establishment of a firm’s desired social media “culture” and “tone.”
When using social media, firms can allow customers and Internet users to post user-generated content, also known as “earned media,” rather than use marketer-prepared advertising copy.
Social Media Marketing- Social Media Platforms
Social Networking Websites
Popular social media Sites allow individuals, businesses and other organizations to interact with one another and build relationships and communities online. When companies join these social channels, consumers can interact with them directly.
That interaction can be more personal to users than traditional methods of outbound marketing and advertising. Social networking sites act as word of mouth or more precisely, e-word of mouth. The Internet’s ability to reach billions across the globe has given online word of mouth a powerful voice and far reach.
The ability to rapidly change buying patterns and product or service acquisition and activity to a growing number of consumers is defined as an influence network. Social networking sites and blogs allow followers to “retweet” or “repost” comments made by others about a product being promoted, which occurs quite frequently on some social media sites. By repeating the message, the user’s connections are able to see the message, therefore reaching more people.
Because the information about the product is being put out there and is getting repeated, more traffic is brought to the product/company. Business retailers have seen 133% increases in their revenues from social media marketing.
Some examples of popular social networking websites over the years are Facebook, Instagram, Twitter, TikTok, Myspace, LinkedIn, and Snap Chat.
More than three billion people in the world are active on the Internet. Over the years, the Internet has continually gained more and more users, jumping from 738 million in 2000 all the way to 3.2 billion in 2015. Roughly 81% of the current population in the United States has some type of social media profile that they engage with frequently. Mobile phone usage is beneficial for social media marketing because of their web browsing capabilities which allow individuals immediate access to social networking sites.
Mobile phones have altered the path-to-purchase process by allowing consumers to easily obtain pricing and product information in real time. They have also allowed companies to constantly remind and update their followers. Many companies are now putting QR codes along with products for individuals to access the company website, social media marketing or online services with their smart phones.
Retailers use QR codes to facilitate consumer interaction with brands by linking the code to brand websites, promotions, product information, and any other mobile-enabled content.
Mobile devices have become increasingly popular, where 5.7 billion people are using them worldwide. This has played a role in the way consumers interact with Social media marketing and has many further implications for TV ratings, advertising, mobile commerce, and more. Mobile media consumption such as mobile audio streaming or mobile video are on the rise –
In the United States, more than 100 million users are projected to access online video content via mobile device. Mobile video revenue consists of pay-per-view downloads, advertising and subscriptions. As of 2013, worldwide mobile phone Internet user penetration was 73.4%. In 2017, figures suggest that more than 90% of Internet users will access online content through their phones. This is the popular social media marketing platform.
Social Media Marketing Strategy
There are two basic strategies for using social media as a marketing tool:
Social media marketing can be a useful source of market information and a way to hear customer perspectives. Blogs, content communities, and forums are platforms where individuals share their reviews and recommendations of brands, products, and services. Businesses are able to tap and analyze the customer voices and feedback generated in social media for marketing purposes; in this sense the social media is a relatively inexpensive source of market intelligence which can be used by marketers and managers to track and respond to consumer-identified problems and detect market opportunities.
Social media can be used not only as public relations and direct marketing tools, but also as communication channels targeting very specific audiences with social media influencers and social media personalities as effective customer engagement tools.
Technologies predating social media, such as broadcast TV and newspapers can also provide advertisers with a fairly targeted audience, given that an ad placed during a sports game broadcast or in the sports section of a newspaper is likely to be read by sports fans. However, social media websites can target niche markets even more precisely.
Using digital tools such as Google ads ,Google AdSense, advertisers can target their ads to very specific demographics, such as people who are interested in social entrepreneurship, political activism associated with a particular political party, or video gaming. Google AdSense does this by looking for keywords in social media user’s online posts and comments. It would be hard for a TV station or paper-based newspaper to provide ads that are this targeted .
At the end point We can say that social media marketing is the best way of promoting your business at high scales.