The power and importance of social media in today’s world is so big that it has been included in the curriculum of almost any kind of school all over the globe. Professionals and business execs who want to gain a profound understanding of brand management and Internet marketing must learn to leverage the power of social media for their businesses and organizations. Approximately three-quarters of shoppers today will research a company online before making a purchase. More and more consumers are using social media for this. Social engagement, customer reviews, and other aspects contribute to someone’s decision to make that initial purchase.
Traditional marketing techniques, usually adopted by small businesses, consist of dropping promotional letters, fliers, brochures and other forms of delivering marketing messages, in mail boxes, print, radio and television or placing them on other locations. These forms of communicating with customers are entirely one sided, where only the business has something to say. Developing a social media strategy creates opportunities for customers to provide feedback as well as direct dialogue with the business. Social media efforts give companies a digital personality and provide an additional component for effective branding techniques.
Here are 10 things that every brand needs to know about social media:
- Advertising through social media is pretty cost friendly as compared to costs incurred by print, TV or other traditional media that typically incorporate display advertising in local newspapers and national periodicals.
- Social media is easily accessible and it’s also the meeting point of today’s internet savvy audience.
- A major portion of the younger generation, teenagers and middle aged people, are a major percentage of the total social media user population.
- Social media opens possibilities of direct access to clients without any third party intervention.
- Starting your social media platforms have no cost and can help in search engine optimization and increase in rankings of your company's website.
- Geographical boundaries cannot stop social media from reaching people, prospects, and customers across the globe. Anybody who has online presence can be targeted.
- Targeting customers from all over the world helps to increase sales and makes it more likely that your more ambitious sales targets will be met.
- Online advertisements are viewable to customers as long as businesses wish them to be with time periods lasting from days to years.
- Successful service stories and satisfied customers have a higher likelihood of spreading the news to others on their own by getting your company a presence and personality on social media networks.
- People on social networks are more receptive to posts that are more conversational in origin. Creating a more personal message and targeted, engaging content attracts more consumers.
Even if you and your competitors are not currently implementing a social media strategy, just know that it is likely that soon your competitors will begin to do so. Stay ahead of the curve by crafting a plan to develop a strong social media presence.