Social Media Marketing
Social media marketingOne of the key benefits of participating in social media marketing is the fact that it enhances brand recognition. A brand that contributes to the success of the business in a couple of ways, for example, growth in customer base and brand loyalty. When a brand is present in the social media, the probability of new customers learning about it increases. In today’s business world, the largest proportion of the global population is present on the social media. This includes people of the two sexes, both young and old. As a result, many organizations are taking advantage of the social media marketing to grow their customer base. The increase in the customer base following increased brand recognition translates into growth in revenue, as well as, profitability (Tunen, 2013).
The second key advantage of social media marketing is improved brand loyalty. When people find a brand they recognize in the social media, they always want to be associated with it. For example, they become the followers of the brand both on the Twitter and on Facebook. This enhances the brand loyalty (Newlands, 2011). One way through which it enhances the brand loyalty is the fact that any time a fan visits the social media, he or she will find the brand and learns more about it (Sheehan, 2010).
Another key benefit on online marketing is the higher conversion rate. On the social media, the fact that the marketer talks on behalf of the brand makes the customers feel like they are communicating with the brand itself. This increases the connection between the customers and the brand. Additionally, the customers increase their trust on the product when it is on the social media, which grows the rate of conversion (Thomas, 2010).
The fourth benefit of social media marketing is the increased opportunities to convert. This is because of the fact that when a brand becomes present on the social media, it interacts with all kinds of customers including the new customers, potential customers and the old customers. All the customers react on the posts made about the brand. This increases the probability of converting potential customers and new customers into old and loyal customers (Grossnickle, 2001).
The fifth benefit is the higher brand authority. In other words, a brand becomes more famous following its presence in the social media. When many people are talking about a brand on the social media, the higher is the likelihood of new people, learning about the brand and starting talking about it. A new positive post about a brand contributes to increased authority of the brand in the market, thus becoming dominant (Leunig, 2012).
Another key benefit is the decrease in the marketing cost. Compared to the traditional methods of marketing, online marketing is less expensive. This is in terms of labor cost, as well as, the time spent on online marketing. According to the article, spending one hour a day in developing content about the brand on the social media is enough to grow the customer base significantly (Evans, 2008). This is unlike the traditional marketing methods, which requires hiring a marketing firm or establishing a marketing department, which is costly (Rinaldo, 2013).
Another key benefit is a better ranking by the search engine. Most of the search engines including Google use the social media as one of the factors of ranking the brands. In other words, the elevated the rank of a brand, the more the chances of a customer finding in on the internet while surfing. For example, many words would result to inking up with the band on the internet if it has a high ranking. This increases the chance of surfing customers coming across the brand. The search engines recognize such brands as credible, which contributes to the growth in customer base and brand loyalty (Evans, 2010).
The other key benefit is richer customer experience. When a brand is on the social media, it increases the interaction between the brand owner and the customers. The brand owner or the marketer will be able to handle many customer complaints about the brand, which the customers raise online (Zarrella, 2010). This is not possible with traditional marketing methods, after managing the customer complaints and rectifying the mistakes, the customers become more loyal to the brand, when a customer makes a positive comment about the brand on the social media; the brand owner appreciates the customer and may recommend new products (Urban, 2014).
The last key benefit associated with the online marketing is the fact that online marketing improves customer insights. In other words, online marketing helps the marketer to gather important information about the product, for example, the customer perception about it. The comments that the customers make about the product may help the marketer to improve the product in such a way that would meet the customer’s needs (Weaver, 2013). Additionally, the marketer would use such information as metrics to measure the performance of the product in the market (Stelzner, 2014).
In today’s business world, the online market is one of the most effective marketing tools. Companies that have recognized the importance of online marketing are adopting it and are benefiting immensely in terms of growth in sales and customer base. The tory reflects on how organization exploit the benefits of online marketing all of which are important as far as the success of a brand in the market is concerned. Therefore, companies should recognize the above benefits and invest in online marketing in efforts of growing sales and profitability.
Boulton, Clint. 2014. “Social Media Influence Waning Among Shoppers, Says Capgemini.” The CIO Report RSS. The Wall Sreat Journal,. Web. 18 Dec. 2014. Retrieved from http://blogs.wsj.com/cio/2014/09/26/social-media-influence-waning-among-shoppers-says-capgemini/
Evans, D., 2008. Social Media Marketing: an hour a day. 5th ed. Indianapolis, Ind: Wiley.
Evans, L., 2010. Social Media Marketing: Strategies for engaging on Facebook, Twitter and other social media. 7th ed. Indianapolis: Que.
Grossnickle, J., 2001. Handbook of online marketing research. 1st ed. New York: McGraw-Hill.
Leunig, S., 2012. Online Marketing Strategies. Bendigo: VEA.
Newlands, M., 2011. Online marketing:A user’s manual. 4th ed. West Sussex: Wiley.
Rinaldo, D., 2013. Benefits of social media marketing. Journal of Advancement in Marketing, 21(1), pp. 16-25.
Sheehan, B., 2010. Online marketing. 5th ed. Lausanne: Worthing.
Steger, M., 2013. Business Trends. Virginia Business, 28(1), pp. 34-40.
Stelzner, M., 2014. 2014 Social Media Marketing Industry Report, New York: Social Media Exerminer.
Thomas, L., 2010. Online marketing. 3rd ed. Maidenhead: McGraw-Hill Professional.
Tunen, T., 2013. Social media Marketing. 8th ed. Boston : Pearson.
Urban, D., 2014. The complete guide to global social media marketing, New York: www.Hubspot.com.
Weaver, J., 2013. Manager’s Guide to online marketing. 3rd ed. NY: McGraw-Hill.
Zarrella, D., 2010. The social Media Marketing Book. Beijing: O’reilly.