Social Media Marketing
Social Media Marketing is the use of social media platforms and websites to promote a product or service. Most of these social media platforms have their own built-in data analytics tools, which enable companies to track the progress, success, and engagement of ad campaigns.
Companies address a range stakeholders through social media marketing including current and potential customers, current and potential employees, journalists, bloggers, and the general public. On a strategic level, social media marketing includes the management of the implementation of a marketing campaign, governance, setting the scope (e.g. more active or passive use) and the establishment of a firm's desired social media "culture" and "tone". To use social media effectively, firms should learn to allow customers and Internet users to post user-generated content (e.g., online comments, product reviews, etc.), also known as "earned media", rather than use marketer-prepared advertising copy. While social media marketing is often associated with companies, as of 2016, a range of not-for-profit organizations and government organizations are engaging in social media marketing of their programs or services
Social media 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. For example, the Internet erupted with videos and pictures of iPhone 6 "bend test" which showed that the coveted phone could be bent by hand pressure. The so-called "bend gate" controversy created confusion amongst customers who had waited months for the launch of the latest rendition of the iPhone. However, Apple promptly issued a statement saying that the problem was extremely rare and that the company had taken several steps to make the mobile device's case stronger and robust. Unlike traditional market research methods such as surveys, focus groups, and data mining which are time-consuming and costly, and which take weeks or even months to analyze, marketers can use social media to obtain 'live' or "real time" information about consumer behavior and viewpoints on a company's brand or products. This can be useful in the highly dynamic, competitive fast-paced and global marketplace of the 2010s.
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 and 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 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 (though not impossible, as can be seen with "special issue" sections on niche issues, which newspapers can use to sell targeted ads).
Facebook and LinkedIn are leading social media platforms where users can hyper-target their ads. Hypertargeting not only uses public profile information but also information users submit but hide from others. There are several examples of firms initiating some form of online dialog with the public to foster relations with customers. According to Constantinides, Lorenzo and Gomez Borja (2008) "Business executives like Jonathan Swartz, President and CEO of Sun Microsystems, Steve Jobs CEO of Apple Computers, and McDonalds Vice President Bob Langert post regularly in their CEO blogs, encouraging customers to interact and freely express their feelings, ideas, suggestions, or remarks about their postings, the company or its products". Using customer influencers (for example popular bloggers) can be a very efficient and cost-effective method to launch new products or services Narendra Modi current prime minister of India ranks only second after President Barack Obama in a number of fans on his official Facebook page at 21.8 million and counting. Modi employed social media platforms to circumvent traditional media channels to reach out to the young and urban population of India which is estimated to be 200 million.
Engagement in social media for the purpose of a social media strategy is divided into two parts. The first is proactive, regular posting of new online content (digital photos, digital videos, text) and conversations, as well as the sharing of content and information from others via weblinks. The second part is reactive conversations with social media users responding to those who reach out to your social media profiles through commenting or messaging Traditional media such as TV news shows are limited to one-way interaction with customers or 'push and tell' where only specific information is given to the customer with few or limited mechanisms to obtain customer feedback.
Traditional media such as paper newspapers, of course, do give readers the option of sending a letter to the editor, but this is a relatively slow process, as the editorial board has to review the letter and decide if it is appropriate for publication. On the other hand, social media is participative and open, as participants are able to instantly share their views on brands, products, and services. Traditional media gave control of message to the marketer, whereas social media shifts the balance to the consumer (or citizen).
Twitter allows companies to promote their products in short messages known as tweets limited to 140 characters which appear on followers' Home timelines. Tweets can contain text, Hashtag, photo, video, Animated GIF, Emoji, or links to the product's website and other social media profiles, etc. Twitter is also used by companies to provide customer service. Some companies make support available 24/7 and answer promptly, thus improving brand loyalty and appreciation.
Facebook pages are far more detailed than Twitter accounts. They allow a product to provide videos, photos, and longer descriptions, and testimonials as other followers can comment on the product pages for others to see. Facebook can link back to the product's Twitter page as well as send out event reminders. As of May 2015, 93% of businesses marketers use Facebook to promote their brand.A study from 2011 attributed 84% of "engagement" or clicks to Likes that link back to Facebook advertising.By 2014, Facebook had restricted the content published from businesses' and brands' pages. Adjustments in Facebook algorithms have reduced the audience for non-paying business pages (that have at least 500,000 "Likes") from 16% in 2012 down to 2% in February 2014.
Google+, in addition to providing pages and some features of Facebook, is also able to integrate with the Google search engine. Other Google products are also integrated, such as Google Adwords and Google Maps. With the development of Google Personalized Search and other location-based search services, Google+ allows for targeted advertising methods, navigation services, and other forms of location-based marketing and promotion. Google+ can also be beneficial for other digital marketing campaigns, as well as social media marketing. Google+ authorship was known to have a significant benefit on a website's search engine optimization, before the relationship was removed by Google. Google+ is one of the fastest growing social media networks and can benefit almost any business.
LinkedIn, a professional business-related networking site, allows companies to create professional profiles for themselves as well as their business to network and meet others. Through the use of widgets, members can promote their various social networking activities, such as Twitter stream or blog entries of their product pages, onto their LinkedIn profile page. LinkedIn provides its members the opportunity to generate sales leads and business partners. Members can use "Company Pages" similar to Facebook pages to create an area that will allow business owners to promote their products or services and be able to interact with their customers. Due to spread of spam mail sent to job seeker, leading companies prefer to use LinkedIn for employee's recruitment instead using different a job portal. Additionally, companies have voiced a preference for the amount of information that can be gleaned from a LinkedIn profile, versus a limited email.
WhatsApp was founded by Jan Koum and Brian Acton. WhatsApp joined Facebook in 2014, but continues to operate as a separate app with a laser focus on building a messaging service that works fast and reliably anywhere in the world. WhatsApp started as an alternative to SMS. Whatsapp now supports sending and receiving a variety of media including text, photos, videos, documents, and location, as well as voice calls. Whatsapp messages and calls are secured with end-to-end encryption, meaning that no third party including WhatsApp can read or listen to them. Whatsapp is having a customer base of 1 billion people in over 180 countries. It is used to send personalised promotional messages to individual customers. It is having plenty of advantages over SMS that includes ability To track how Message Broadcast Performs using blue tick option in whatsapp. It allows sending messages to Do Not Disturb(DND) customers. Whatsapp is also used to send series of bulk messages to their targeted customers using broadcast option. Companies started using this to a large extent because it is a cost effective promotional option and quick to spread a message. Still, Whatsapp doesn't allow businesses to place ads in their app.
Yelp consists of a comprehensive online index of business profiles. Businesses are searchable by location, similar to Yellow Pages. The website is operational in seven different countries, including the United States and Canada. Business account holders are allowed to create, share, and edit business profiles. They may post information such as the business location, contact information, pictures, and service information. The website further allows individuals to write, post reviews about businesses, and rate them on a five-point scale. Messaging and talk features are further made available for general members of the website, serving to guide thoughts and opinions.
Foursquare is a location-based social networking website, where users can check into locations via a Swarm app on their smartphones. Foursquare allows businesses to create a page or create a new/claim an existing venue.
In May 2014, Instagram had over 200 million users. The user engagement rate of Instagram was 15 times higher than of Facebook and 25 times higher than that of Twitter. According to Scott Galloway, the founder of L2 and a professor of marketing at New York University's Stern School of Business, latest studies estimate that 93% of prestige brands have an active presence on Instagram and include it in their marketing mix. When it comes to brands and businesses, Instagram's goal is to help companies to reach their respective audiences through captivating imagery in a rich, visual environment. Moreover, Instagram provides a platform where user and company can communicate publicly and directly, making itself an ideal platform for companies to connect with their current and potential customers.
YouTube is another popular avenue; advertisements are done in a way to suit the target audience. The type of language used in the commercials and the ideas used to promote the product reflect the audience's style and taste. Also, the ads on this platform are usually in sync with the content of the video requested, this is another advantage YouTube brings for advertisers. Certain ads are presented with certain videos since the content is relevant. Promotional opportunities such as sponsoring a video is also possible on YouTube, "for example, a user who searches for a YouTube video on dog training may be presented with a sponsored video from a dog toy company in results along with other videos."YouTube also enable publishers to earn money through its YouTube Partner Program. Companies can pay YouTube for a special "channel" which promotes the company's products or services.
Platforms like LinkedIn create an environment for companies and clients to connect online. Companies that recognize the need for information, originality/ and accessibility employ blogs to make their products popular and unique/ and ultimately reach out to consumers who are privy to social media. Studies from 2009 show that consumers view coverage in the media or from bloggers as being more neutral and credible than print advertisements, which are not thought of as free or independent. Blogs allow a product or company to provide longer descriptions of products or services, can include testimonials and can link to and from other social network and blog pages. Blogs can be updated frequently and are promotional techniques for keeping customers, and also for acquiring followers and subscribers who can then be directed to social network pages. Online communities can enable a business to reach the clients of other businesses using the platform. To allow firms to measure their standing in the corporate world, sites enable employees to place evaluations of their companies. Some businesses opt out of integrating social media platforms into their traditional marketing regimen. There are also specific corporate standards that apply when interacting online. To maintain an advantage in a business-consumer relationship, businesses have to be aware of four key assets that consumers maintain: information, involvement, community, and control.
Dating and friendship website Tumblr first launched ad products on May 29, 2012.Rather than relying on simple banner ads, Tumblr requires advertisers to create a Tumblr blog so the content of those blogs can be featured on the site. In one year, four native ad formats were created on web and mobile, and had more than 100 brands advertising on Tumblr with 500 cumulative sponsored posts.