Due to the impact of social media, the relationship between brands and consumers have changed a lot. Nowadays, companies create strategies after they analyze and understand the target consumer’s demands, likes and dislikes through Social Media. Social media has had a major effect on the world and business. Starting from an MNC or a small startup, everyone is adopting Social Media Marketing to make their brand or services visible.
Earlier traditional marketing mediums such as radio, TV commercials and print ads were very costly mediums. But now, through Social media marketing, companies or brands can connect with their target customers for free, the only cost is time. Using social media platforms like Facebook, Twitter, LinkedIn etc., you can lower your marketing costs.
Social Media Marketing is having a tremendous impact on business and market as business growth and performance are taking place at an astronomical rate. Social media helps in developing business tactics. Social media platforms like Facebook, Twitter, LinkedIn etc., show an opportunity for businesses to grab the attention of the customers while simultaneously building a brand image. These social networks allow businesses to use tactics to build and create brand profiles like fan pages, contests etc. Through Social media marketing, one can figure out the likes and preferences of customers as well as the latest trends adopted by the public. Social media marketing helps a brand/company to build a strong online presence by innovative social media marketing techniques and customer satisfaction.
Social media has countless benefits some of them are:
Businesses get a better understanding of their customers by allowing them to share their insights, knowing that the brand is listening. Social media allows them to see what potential customer’s opinions are and network with them as well.
Social media allows businesses to respond to customer grievances, questions, and concerns almost instantly. Customers want to be assured that, if they have a problem they will receive assistance at the earliest possible time.
When a business is running on a fixed marketing budget, social media is the most cost-efficient way to market and promote the business. Websites like Facebook, Twitter, Pinterest etc., allow any business to share their content for no cost at all. Hence Social media is an affordable advertising platform.
Businesses will always be connecting with the customers in terms of changing preferences, lifestyles, and resources and adapt to the changing interest of the consumers.
Through social media, it is possible to increase brand awareness among customers as businesses can create awareness by building company image.
Increased exposure through social media drives traffic to the company. This, in turn, converts potential customers to actual customers.
Some of the major social media platforms are:
· is a popular free social networking site on which registered can create profiles, upload photos and videos, send messages and keep in touch with friends, family, and colleagues. People can also create Facebook pages related to businesses, brands, and services. There are 2.07 billion monthly active Facebook users with an increase of 16% increase year over year.
· is a famous social networking website that allows registered members to write their messages through short posts called tweets. There are 330 million active Twitter users.
· is a social networking site designed for the business community, professionals, managers etc. LinkedIn has 467 million members connected. Basically, this site allows the registered member to connect and make a network of people they know and trust professionally.
· is a fast-growing social media platform that allows users to share their images, stories and promote their business. Instagram has 800 billion monthly active users. Instagram is used by many brands to promote their products, target their audience and drive real social value.
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