Social Media Marketing – A Look Into The Future Of Marketing

Over the past several years the global community of social media marketing has changed significantly and it will continue to evolve. That makes keeping ahead of the digital curve a critical factor in successful business worldwide. Understanding how to take advantage of the new features is key to rolling out social media platforms on an ongoing basis and to do so, marketers need to look forward to it forever. Social networks are, in many cases, viewed as a great tool for avoiding costly market research. They are known for providing a short, fast, and direct way to reach an audience through a person who is widely known. Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers. Most social media platforms have built-in data analytics tools, enabling companies to track the progress, success, and engagement of ad campaigns. Companies address a range of 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 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."

When using social media marketing, firms can 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.

Platforms

Social networking websites

Social networking websites allow individuals, businesses and other organizations to interact with one another and build relationships and communities online. When companies join these social channels, consumers can interact with them directly ] That interaction can be more personal to users than traditional methods of outbound marketing and advertising. Social networking sites act as word of mouth or more precisely, e-word of mouth. The Internet's ability to reach billions across the globe has given online word of mouth a powerful voice and far reach. The ability to rapidly change buying patterns and product or service acquisition and activity to a growing number of consumers is defined as an influence network. Social networking sites and blogs allow followers to "retweet" or "repost" comments made by others about a product being promoted, which occurs quite frequently on some social media sites. By repeating the message, the user's connections are able to see the message, therefore reaching more people. Because the information about the product is being put out there and is getting repeated, more traffic is brought to the product/company.

Social networking websites are based on building virtual communities that allow consumers to express their needs, wants and values, online. Social media marketing then connects these consumers and audiences to businesses that share the same needs, wants, and values. Through social networking sites, companies can keep in touch with individual followers. This personal interaction can instil a feeling of loyalty to followers and potential customers. Also, by choosing whom to follow on these sites, products can reach a very narrow target audience. Social networking sites also include much information about what products and services prospective clients might be interested in. Through the use of new semantic analysis technologies, marketers can detect buying signals, such as content shared by people and questions posted online. An understanding of buying signals can help salespeople target relevant prospects and marketers run micro-targeted campaigns.

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Rise of Video Content:

Video content has now become an essential asset to reach its audience for social media marketers. Live streaming, however, has demonstrated to be an even more successful way of attracting traffic. Statistics showed that individuals are 3 times more likely to watch live video than pre-recorded videos on Facebook. The social media network has also altered its algorithm to guarantee that live videos in news feeds stay nearer the top than the pre-recorded material.

Videos have become absolutely essential for marketing campaigns as they have a far greater organic reach than photo posts on most platforms like social media. Live video also takes things one step further by letting your viewers directly engage with you. It makes live streaming the best choice for real-time Q&A, a fantastic way to build brand ambassadors, and a powerful tool to support your product, service, and company dialogue.

Lead Generation through Social Media:

Influencer Engagement:

Working with an influencer has been one of the most successful ways of bringing a brand in front of a heavily targeted public. Influencers have proven to be extremely beneficial to marketing campaigns, rising conversion rates dramatically and retention. Considering the advantages that arrive with influencer marketing, it seems the only reason more organizations don’t do it is that they don’t know how or where to start. When it comes to influencer marketing, simply hiring a celebrity or fashion model with hundreds of thousands of followers is no longer a safe bet or even the most lucrative option. Innovations in marketing strategies brought about by influencers refer to a range of smaller niche players delivering a match-winning punch than a celebrity with their tons of followers. A major reason for this emergence of smaller influencers is that they often have a personal link to their followers and they engage with them more frequently. As a result, the relevant content posted by influencers’ posts with a brand to the right target audience will bring in more leads and customers. Consequently, as these niche influencers can be hired at lower costs compared to celebrities, companies will not have to overfit their social media marketing budget to generate high-quality leads.

Conclusion:

When it comes to social media marketing, change is unavoidable. Social media platforms are under constant renovation in the hopes of serving users with creative and interesting features that separate them from the competition. It’s imperative to always look forward to staying ahead of the digital curve and finding people who take advantage of what’s coming next.

- Ronak Panchal