May 30, 2022

A Study on Impact of Social Media Marketing Trends on Digital Marketing

Growing popularity of social media compelled the marketers to think about this media along with traditional functional areas of marketing. Social media is based primarily on the internet or cellular phone-based applications and tools to share information among people. The number of social media user's is more than the population of some of the countries today. Impact of social media on marketing can be judged by comparing marketing before social media and marketing after the introduction of social media and the type of technologies used in social media.
Keywords: Marketing before social media, the evolution of social media, social media today, and web technology, the impact of social media on marketing, concerns, and criticism of social media.


Introduction

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 builtin data analytics tools, which enable 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.
The Objective of the Study
• To study Social Media Marketing
• To study Digital Marketing
• To study Digital Marketing Trends


The Platform of Marketing

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 an 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 "retreat" 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 can 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 instill a feeling of loyalty into 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 sales people target relevant prospects, and marketers run micro-targeted campaigns.
In <year>, over 80% of business executives identified social media as an integral part of their business. Business retailers have seen 133% increases in their revenues from social media marketing.

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