Social media has significantly changed how people interact. The generation Millennials spend much of their time on social media platforms in an effort to stay connected to friends and events as they unfold. In the corporate world, the impact of social media has also been felt. Traditionally, corporate entities did not engage in social events. Instead, they only focused on formal events that enabled them to maintain a professional look. The entry of social media has however changed the market dynamics. Currently, many corporate entities have embraced social media marketing for reasons that will be discussed herein.
Customized/ Targeted Marketing
Social media marketing does not only enable marketers to reach a large audience, it also makes it possible for the marketers to customize the marketing content to specific potential customers. Most social media sites have marketing options. Using this option it is possible to obtain basic consumer information from the site. With this information, it is possible to tailor the marketing content in such a way to meet the specific demands and consumer preferences. The practice of customizing marketing content on the basis of consumer information is known as targeted advertising. The efficiency of this marketing approach is higher than when the marketer distributes marketing content blindly to potential consumers on social media.
Closely related to targeted advertising is retargeting. In retargeting, any potential or current customer who encounters a social media advertising and visits the firm’s official website is noted. Thereafter, the marketer targets this individual by sending them other marketing content once they are generated. The theory behind retargeting is that it makes it possible for the marketer to be able to contact all persons who visit the firm’s website. By so doing, even if the customer did not find what they were hoping to get, there is a chance that future marketing content and products will have commodities that suit their tastes and preferences. Sending them subsequent marketing content acts to gauge whether the specific item being promoted in subsequent marketing content contains some commodities that best fits their tastes and preferences.
Among the most expensive undertakings in business is marketing. Marketing entails the creation of awareness for a brand or commodity, convincing persons that the product or brand meets their requirements and most importantly explaining why this product is the best among those available in the market. To achieve all these, firms use a variety of marketing strategies leading to elevation of advertising costs. Marketing through the social media significantly reduces the marketing costs and is significantly more effective as compared to traditional advertising methods. As a matter of fact creating and distributing a marketing media via the social media is free of charge. For instance, getting a celebrity or popular figure to endorse a product on social media is potentially capable of resulting in more sales than using a billboard which would be much more expensive than and not as effective as the social media.
In addition to making it possible to reach a large clientele, social media marketing also gives the marketer an opportunity to convert non-consumers to consumers. By marketing on the social media, a marketer is able to create a following based on the popularity of the product or the marketing content. A large following means that the marketer gets an opportunity to convince followers who are non-users into converting to consumers by convincing them of the anticipated benefits from the consumption of a commodity. While the initial contact may not result into successful conversion, subsequent contacts will convince these potential consumers of the need of trying the commodity being advertised. Though not all who first try will become repeat customers, there is undeniable opportunity that a good number will eventually be converted into users.
Using social media marketing strategy makes it possible for a firm to be able to receive feedback from consumers immediately. Through social media pages, consumers are able to give their sentiments to a corporate entity either regarding a particular commodity or their taste and preferences. The information obtained from this feedback system can be used to form a basis for making adjustments or improvements to the product. Traditionally, obtaining feedback was a long and tedious process which would require the firm to send agents to the field to obtain the information from consumers. The process was not only time wasting, but also lengthy. Using the social media, corporate entities are able to cut all these additional costs for mutual benefit.
Interaction with the Customers
Another important benefit of social media marketing is that it creates a platform through which the corporate entity can interact with the consumers on a one-to-one basis. Giving current and potential customers personal attention instills some loyalty within the customer since he feels that he is not only recognized but also that his issues are taken into consideration. Besides, the personal attention also makes other potential consumers realize that the firm takes a keen interest in the sentiments of individual consumers’ boosts the conversion rate. Good customer satisfaction makes goes a long way in creating and sustaining brand loyalty.
Other than informing current potential consumers about the existence and superiority of a commodity, social media marketing also initiates interest in potential consumers to check out the corporate entity’s official website for example on their business Instagram account they can Buy Active Instagram Followers to get more traffic from Instagram to their website. With the increased traffic to the firm’s website more and more people get to know about the firm and most importantly are able to learn about other commodities or services offered other than what was advertised. High website traffic is desirable as it indicates that more and more people are drawn to the entity, the visitors may end up getting converted and becoming loyal customers. The end results for the firm is higher sales.
The benefits of social media marketing to the corporate entity are uncountable. Firms that have devised effective social media marketing strategies can attest to this. Other than promoting sales, the firm is able to enhance its authority and credibility in the market which goes a long way in guaranteeing more sales even in the future. As is the case with contemporary marketing methods, no marketing strategy is effective on its own. It is therefore important that an entity is able to use social media marketing alongside other marketing methods in order to optimize the benefits and efficiency of the marketing department.