What is Social Media Marketing?
A way of marketing that uses social networks for promotional and engagement purposes. Using various platforms such as blogs, podcasts and video sharing sites to reach out to target customers.
Understand the Potential of Social Media Marketing
Provides a low-cost way to market your business because you can use existing platforms with no upfront fees or costs involved. You’ll also save money in not having to produce new forms of traditional advertising (such as radio ads, newspaper ads etc) so long as you are using content that’s already been produced by yourself or another company. This helps reduce production and distribution costs.
Allows you to reach customers outside of your local market which allows your business to grow faster and limits the need for brick-and-mortar locations that are aimed at only a particular geographic area.
This helps cut down on overhead, expansion time frames and travel costs; all of which can help reduce operating expenses.
For example, if an e-commerce site wants to sell worldwide, they could simply hire someone with expertise in that field to oversee customer relations from any given region so long as they have Internet access – thus reducing the overall cost of management and administration while providing a more personal touch (which is important).
Social media marketing can be used online or offline through blogs, podcasts, videos, etc – allowing you to target customers wherever they may be and whatever device they use to access the Internet.
Gives you an opportunity to interact with your customers which builds trust, loyalty and brand recognition – all of which are vital in establishing a strong brand image for your business.
Also allows you to learn more about what your customers really want from you – helping to develop products that better fit their requirements while saving money on product development costs since there’s no need for market testing or focus groups if you’re using information gathered from social media sites.
It gives entrepreneurs the opportunity to generate interest in new products or services before they go live – thus allowing them to generate buzz even before any physical work has begun. This is extremely helpful in raising funds, getting loans, finding investors and even locating a new job.
Using social media sites also allows you to get feedback on your product or service before it’s offered to the public – thus helping identify any flaws in your design or concept before going to market.
It would be much more expensive (and time-consuming) to have a prototype tested at this stage of development if you’ve already made it available for public comment via social media – which could save you thousands (or even millions) over the long term.
A Word Of Caution Though: remember that whatever is shared online must also be able to handle the scrutiny of the general population so don’t share anything that either violates posted Terms of Service agreements or may harm your brand image – which can result in getting banned altogether from any given social media site.
The Main Advantages of Using Social Media Marketing Are:
- It’s a low-cost way to reach the masses without having to produce expensive traditional forms of advertising, such as radio ads, newspaper ads or TV commercials – all of which can be costly and time-consuming to create.
- You won’t need an actual office space that is visible from the street if you’re using content already produced by yourself or another company (and posting it on various social networking sites).
- This cuts down on overhead costs and allows you to work from home saving money in rent, utilities, and other daily operating expenses; thus, increasing profits over time.
- Gives you an opportunity to interact with new customers face-to-face through the comments section of various blogs/sites – something that you could never do in a traditional advertising medium.
- A face-to-face interaction gives people the impression that your business actually cares what they think and offers them a personal touch which they are more likely to remember for future reference.
- Offers access to international customers who may otherwise be unreachable by way of a local brick & mortar location – without any additional travel costs or overhead expenses since it’s all done online on the company’s behalf; which can help boost sales while simultaneously reducing operating and travel expenses – thus increasing profit margins over time.
- For example, selling internationally eliminates the need to hire different employees based on their geographic locations (i.e.: American clients would receive products from an American representative, French clients would receive products from a French representative, etcetera).
- You can reach your audience day or night since social media sites are not tied to business hours and are accessible via whatever device your customers choose: i.e.: cell phones, tablets, computers (PCs & Mac), e-readers (i.e.: Nook or Kindle), video game system consoles (Xbox or PS3) and more.
- It’s also easier to find what you’re looking for if it’s all in one place on the web instead of spreading out across various search engines – which makes it much easier to track new prospects over time.
How To Start a Social Media Marketing Campaign?
Broadly speaking, social media marketing is the process of building an online presence via social networking sites and using this channel to interact with your target market, then getting their thoughts on how well you’re doing (and making changes accordingly).
Social media marketing requires more than just launching a simple Facebook page or Twitter account – although both these are great ways to start any campaign.
To really succeed in this arena, it’s imperative that you have established a customer service strategy from the beginning so that after you get them engaged through various forms of content (i.e.: pictures/videos) they are happy with your product or service – thus protecting your brand image and making repeat sales easier over time.
For those of you who are looking to start a social media marketing campaign, it can be difficult to know where to begin. Luckily, we’ve created this blog post for you! We hope that by reading through our top tips and tricks on how to get started with your own campaign, you will feel more confident in the process and better equipped than ever before.
When you have finished reading the article, take some time out of your day today or tomorrow morning (or evening) and draft up a plan for your first social media campaign. What do you think? Are there any other questions about starting a social media marketing strategy that needs answering?”