In years past, social media has loudly taken over traditional print marketing and advertising. Promoting products on social media platforms will increase return on investment. With a strong social media strategy a company can achieve business miracles in the market. Using social media enables advertising opportunities to grow exponentially, while energize public relations efforts without a huge money and time commitment. Social media has become imperative for all brands looking to be a part of the digital market and create buzz around their business. Social media channels are proactive tools to increasing company trustworthiness.
By closely communicating with clients on a social media level, a company becomes a trusted source of information which makes it a great asset when creating company awareness and brand credibility. Social media can be a great source of customer service, transforming negative customer's experience into a positive outcome for your business. Customer satisfaction is the key to retention and in the long run it is loyalty awarding to the brand. Prospective customers are more likely to become loyal customers if a company responds to their specific requirements in a prompt and personal manner.
Social media helps you easily discover your customers' preferences so that you can focus on meeting their special needs and expectations, gain proficiency in that exact niche, excel your product list, and research your competitors. Although the importance of social media in today's business landscape is indisputable, businesses do not always make the most of its full potential. It simply takes creativity, passion, and consistency to keep your social media campaigns ruling and rolling. Regardless of the serious competition, there are millions of people waiting to be reached. Why Social Media Has Become
Although a relatively new phenomenon, social media is rapidly turning into a vital part of the modern marketing mix. Managing a flexible presence on each of the Backbone, Twitter, and Google+ has become necessary for any marketer striving to improve business. There are more than 665 million of daily active users on Backbone and over 500 million registered accounts on Twitter. Lacking social profiles on platforms such as Linked, Pinsetters, Youth, abdication, blobbing, and Stumbled would be a strategic miss for those companies looking to reach greater exposure in the digital market (Settler, 2013).
According to the 2013 Social Media Marketing Industry Report, social media plays a tremendous role in today's business world. More than half of marketers who have actively used social media marketing for over 3 years reported an increase in sales over that period. A significant 89% of all businesses that have a dedicated social media platform as part of their marketing strategy reported an increase in their market exposure. According to the Industry report, 86% of marketers said that social media was important to their businesses.
This paper reviews key social media websites and their impact on businesses and he effect that a lack of social media engagement has on brand advertising. Next, the use and benefits of social media will be discussed as well as comparison of effectiveness and popularity between the sites. The most common used social media platforms will be addressed. The 2013 Social Media Industry report and supporting relevant data will be summarized. The impact of social media on a business' sales and customer service will also be addressed.
Lastly, the conclusion summarizes the findings and provides impact of social media on brand advertising. References and data from a few industry experts and range of source data are insider. These references include the 2013 Social Media Marketing Industry Report, Social Media Industry articles, Social Media Examiner and marketer websites. Literature Review Over the last decade, social networks have changed communications, shifting the way we consume, produce and interact with information, based on explosive migration to the web. Social media websites like Backbone (FOB), Twitter etc. Eve created huge impetus on the communication platform with the end customers of different products and services that was lacking in the traditional medium. Social networking ties are used as marketing tool by marketers in creating brand relationship. Huge growth of customer base enables marketers to explore social media networking sites as new medium of promoting products and services and resulting in reduction in clutter of traditional medium advertising of reaching the mass customers and not realizing the actual ROI. Social networking sites are more collaborative and interactive in comparison to traditional media followed by marketers.
Social media advertising is a paid form of brand, service or business promotion and requires a proper and planned communicative message and budget. Advertising is customer enteric in nature. Customers play an important role in any major or minor communication because they are the one who are going to decide the fate of the advertising communication. Advertising on internet provides a major contribution to brand competition in the market. Advertising here not only provides information about a product or service but also promotes innovation. Besides it also facilitates customer satisfaction.
Big and small companies, individuals of all walks of life, major and minor events, concepts, etc. , nowadays lay their base on social network advertising to get recognized in the market (Carmella, 2010). Backbone, Twitter etc. Have become a personal, product and corporate branding hub in the world. Every brand that exists on social networking sites has the same core features and benefits, such as the ability to create a page, share resources, add multimedia and much more (Eric, 2008). The effective brand communication strategies are analyzed to find the impact among the users.
Use of Social Media Marketing Benefits of Social Media The top two benefits of social media marketing are increasing exposure and increasing traffic. A significant 89% of all marketers indicated that their social media efforts have generated more exposure for their businesses. Increasing traffic was the second major benefit, with 75% reporting positive results. Most marketers are using social media to gain marketplace intelligence (69%) and develop loyal fans (65%). Gothic lists a few benefits of social network advertising: 1 . Popularizing your brand, idea or service to the target group. . Informing target audience about your brand or service's presence in the market. 3. Encouraging healthy competition in the market. 4. Providing social benefits for the brand. 5. Making the audience to interact and keep them intact with the brand. Figure 1. Benefits of Social Media Marketing (Settler, 2013, p 17) Conclusion: Social media is beginning to infiltrate more and more areas of our lives as more businesses expand their use of the sites. As social media will continue to expand the responsible use of social media will need to be explored.
Academics and experts in the field of social media will need to emerge. As will regulators of the field. As radio, television and newspapers were once new forms of communication, social media is the next stage of the evolution of media and communication. ..... And impacts brand advertising... NOTE: This section reports what is in the trusted published literature. The student should not be inserting personal views in this section. This section needs to be well organized-?plan to use about one sub-head (like the one on the next line) per page.
Key Definitions Discussion of DAB requires the use of several key terms. These terms have multiple meanings depending upon their context. Since the exact meaning of these terms, as used in relation to the Davis-Bacon Act, is critical to this discussion, a review of these terms is necessary. The first of these terms is the Apprentice. Fascinating differences between BIB and BBC. As expected, Backbone dominated among BBC brands, though it was interesting to see Linked and Backbone tie for first place among BIB brands. Only 5% of BBC marketers said Linked played an important role for them.
Twitter and blobbing AR also valuable platforms for BIB marketers. Another surprise was that BIB marketer showed zero interest in Pinsetters. Increased exposure and traffic top benefits of social media marketing. A significant majority (89%) of marketers indicated that their social media efforts have generated more exposure for their businesses, while 75% said that increased website traffic was the second major benefit. Social media is essentially a word-of-mouth tool It's where friends discover and share interesting ideas, including the ones on your site!
Here are some tips to drive traffic to your site using social media. More time spent on social media equals greater benefits. If you've ever wondered whether more time invested in social media produces better results, the answer is "yes. " According to the survey, with as little as six hours per week, 92% of marketers indicated their social media efforts increased exposure for their businesses. More than half of marketers who spent 11 hours or more per week saw improved sales. Do you think you could put a little more time into social media marketing every week?
Increased exposure: With as little as 6 or more hours per week, the vast majority of marketers (92%+) indicated their social media efforts increased exposure for their businesses. Nearly all marketers (95%+) who've been employing social media marketing for two years or longer report it generates exposure for their businesses. Commonly used social platforms Backbone, Twitter, Linked, blobbing and Youth were the top five platforms used by marketers, with Backbone leading the pack. All of the other platforms paled in imprison to these top five.