Social Media Marketing is the most inexpensive and economical way to reach the target market, regardless of your business type.
It refers to the process of gaining traffic or audience through social media channels or sites.
Social Media channels include Facebook, Instagram, Twitter, Google+, Whatsapp, LinkedIn, Pinterest, Tumblr. These are the most popular used social media channels.
Impact of Social Media
76% of the US population has one of the social networking profile and by 2020 the number of worldwide users of social media is expected to reach 2.95 billion.
Facebook is dominating over other social media platforms worldwide.
Other popular channels are Whatsapp, Wechat, Instagram, Twitter, LinkedIn, Pinterest and YouTube.
According to the B2B community
- 90% of adults aged 18 to 30 use social media compared with 35%of those over 65.
- 84% of CEO’s and VP’s say they use social media to help make a purchasing decision.
- Social Media is the preferred way to communicate with businesses.
Different types or forms of Social Media Marketing
Sharing of content on social media:
There are few type of social media marketing methods, but sharing content on social platforms in the major one. On social media channels, you can provide your comments or post on texts, videos, photos. Consider the example of blogs such as WordPress, Tumblr.
Videos can be categorized under the YouTube channel. YouTube is an effective way of Video marketing. Snapchat, Instagram allows to post and share photos.
Networking services for Social Media:
From business point of view many social networking services allow the potential for more targeted marketing. Social Media channels like Facebook has wider audience.
There are also short message network like Twitter, twitter is a social platform used for sharing announcements, events, and promotions. LinkedIn is a professional platform which is more focused towards employment and jobs.
Building services through community:
Forums, Message boards, Yahoo and google groups are the sites which is there for long.
Sites such as TripAdvisor, Makemytrip, Trivago provide consumer reviews. These sites provide updates, review comments, rating by consumers views.
Social Geo location and meeting services:
Foursquare and Meetup can bring people together in real environment instead of cyberspace.
These are the main forms of Social Media Marketing were we can drive traffic.
Marketing Strategy and how to earn money through Internet Marketing?
To market your products or sales online first a marketing strategy need to be implemented :
- Choose a way of making money through online channels
- Social platform and search engines help in making an online presence
- Connect through email marketing
- Drive sales through lead generation and affiliate marketing
How to get business Online?
The easiest and quickest way to get online is to start with Social Media platform like Facebook and create a business Facebook page in less than an hour.
In case you want more control over your online presence, a customized website is more appropriate.
For more presence to the target audience, you can have both a website and social media presence both linking to each other.
Then try out the different types of social media marketing which was explained previously, so that you can get attention from the users.
Advantages of Social Media Marketing
1. Low cost for Operations
One of the main advantages is its low operating cost.
Advertising through social media channels is less economical compared to traditional method of advertisements such as ads in newspapers, television or radio.
It also helps to contact your customers more in comparison to how you would contact traditionally.
2. Measure and Track results
It helps in measuring and tracking results. Tools like Google Analytics, Facebook ads manager, Twitter ads etc will help to track but also illustrate the progress of your marketing campaign in detailed graphics.
Gives an idea of how you can better grow traffic, leads, sales and conversions.
Without the ability to measure and track your results you cannot alter or modify your marketing campaign to deliver the results you desire.
Different types of Social Medias has different kind of tracking tools, but the way of marketing and tracking are similar.
3. Demographic Targeting
Marketing your products and services online gives you the ability to target audience based on demography.
Demographic targeting gives you the ability to target specific customers you think are likely to purchase your product or hire your services.
Every time someone visits your website and fills in a form, it gives you an idea of who your customers really are and lets you discover important details about them such as age and interests, which better shapes your services to match their needs.
4. Ability to multitask
One of the core benefits is its ability to handling millions of customers at the same time. As long as a website’s infrastructure is efficient, numerous transactions can easily take place simultaneously.
5. 24/7 marketing
It reduces cost and is available whenever needed. Marketing campaigns can run for 24 hours, 7 days a week. Compared to traditional marketing, internet marketing doesn’t constrain with openings hours.
In addition to this, there is no regional or international time difference for you to worry about that will affect the reachability or availability of your offers or online campaigns.
Whenever someone opens their computer and connects to the internet, there is a higher chance of them seeing your marketing campaign.
Furthermore, customers can look for your product at their most convenient time.
Disadvantages of Social Media Marketing
1. Fraudulent activities
There are a lot of illegitimate websites which look similar to the original website and rob customers money. Spamming is the biggest challenge for internet marketing and confidential data can be easily stolen by hackers.
2. High website cost
It allows with wider reach but getting a website, the startup cost is equally high.
Lacks human touch and hampers prospects of relationship building which plays an important part in repeat sales and word of mouth publicity.
Although there are some challenges, it has led to an increase in transparency and ease of buying products.
Hope I have tried and explained about different types of Social Media Marketing and how it helps, you can even check out the article Understanding Social Media with its Pros and Cons. For any further clarification comment in below section or feel free to ask, we will reply as soon as possible.
Stay tuned loads of more content on your way. We will be covering on all the topics of Digital Marketing.