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Role of Social Networking in Marketing
What is Social Media?
The word Social Media means engaging with consumers online. Any website which allows to share content, opinions, views and encourages interaction and community building can be classified as a social media. Some popular social media sites are: Facebook, YouTube, Twitter, Digg, and Myspace, Stumble Upon, Delicious, Scribd, and Flickr etc.
The meaning of the term ‘social media’ can be derived from two words which constitute it. Media generally refers to advertising and the communication of ideas or information through publications/channels. Social implies the interaction of individuals within a group or community. Taken together, social media simply refers to communication/publication platforms which are generated and sustained by the interpersonal interaction of individuals through the specific medium or tool.
Today, the social media is not only for chit chat, now it become the huge hub where you can increase your company sales.
Social Media, today, is among the ‘best opportunities available’ to a brand for connecting with prospective consumers. These new media win the trust of consumers by connecting with them at a deeper level. Social media marketing is the new mantra for several brands since early last year.
Benefits of Social Media in Marketing:
Social media is an easy way to learn about your audience
The main key to success for businesses in any industry is to knowing about your audience. Social media makes this possible, and easier to accomplish than ever. This knowledge can help you cater campaigns and product offers to your target audience, which will provide you a better return on investment.
Social media helps target audiences more effectively
Social networks like Facebook and Twitter have tools that allow you to communicate the right kind of content to your audience. You can target the audience by ‘Location’, ‘Language’, ‘Age’, ‘Gender’, ‘Relationship status’, ‘Interested in’, and ‘Education’.
Social media allows you to receive instant feedback from your customers’ perspective
Social media for business gives you instant access to positive or negative feedback, which provides you with valuable insights on the customer perspective. For example, if you launch a new product and share it on social media, you’ll instantly learn what your customers think of it.
Social media can help increase website traffic and search ranking
One of the best benefits of social media for business is using it to increase your website traffic. Not only does social media help you direct people to your website, but the more social media shares you receive, the higher your search ranking will be.
Social media helps generate leads for one third of the cost
Social media is an easy way to generate leads. Sharing gated content on social media is a great way for any company to generate leads.
Create meaningful relationships with customers through social media
Social media is great for creating meaningful relationships with your customers. Social media allows to create dialogue with services provides, therefore creating relationships with customers before, during, and after they starting using the product or services of the company. This kind of social media dialogue between brands and customers is something traditional advertising will never achieve.
Social media lets you increase brand awareness and reach with little to no budget
Social media for business has allowed companies to increase brand awareness and reach of their brand at little to no cost. The costs associated with these strategies are a lot higher with traditional advertising methods. Recently, marketing departments across companies started hiring community managers to increase brand awareness and reach through social media. Community managers foster relationships with online audiences in different regions.