A Complete Guide to Social Media Marketing
What does basically Social Media Marketing means?
As the term suggests it means marketing using social media. Companies communicate and express themselves to stakeholders with the medium of social media and they also try to impress their clients through social media marketing. On a decisive level, social media marketing includes the administration of the application, direction, opportunity (e.g. more effective or enduring use) and the formulation of a firm’s aim through social media. The marketers are required to incorporate consumer-accomplished content into decisive approach.(Wiki View)
Social media marketing is basically a process of gaining attention through social media sites. Social media is a word used to refer all the sites available on web and social media marketing means the use of social actions in order to promote one’s product. For instance, Twitter is a social site designed to let people share their thoughts and ideas through short messages or “updates” with others.
The Internet has the capability to reach billions around the globe that has given digital word of mouth a powerful voice and far reach. The power of social media to change drastically buying patterns and product or service accomplishment and activity to a growing number of users is defined as an influence network. The companies are able to keep in touch with their customers and are able to respond to their queries and problems almost immediately. With the use of semantic examination technologies, companies can ascertain buying signals on the basis of content shared by the users and problems and doubts put forward.
In order to use internet as an advertisement platform some of the points should be taken into consideration in order to gain proper marketing. Those points are:
- The social network chose should have the potential to gain profit;
- A well-defined financial plan should be prepared;
- In order to manage the social network in the market Definition of organizational structures is important;
- Select the target;
- Products and services should be promoted well;
- Performance measures.
There are mainly two kinds of strategies for engaging the social media as a marketing tool.
The Pocket Burning Strategy
This strategy says you must have a set budget. Take the example of creating a page on a social network such as Facebook,Twitter etc. Then you set a budget for its advertisement. Then the social media keeps the track of the number of likes on the page more the number of likes, more the people are aware about your product. In this whole process, notice that you have quite a few things fixed.
The advertisement budget is for a fixed time, the audience is only the targeted audience. These fixed things make the active approach a one which is for short term and may not have a very long lasting effect. In many cases, however, the active approach can have a major and long-lasting impact on business and the product.
Moreover, in having the active approach, you need to have a good channel of network and events. Additionally, mass conversations are a must and you must talk to people and convince them too. All of these factors have an active action and a deliberate attempt by business so this approach is known as the Active approach.
This is generally for business who-
- Want rapid growth in limited time span.
- Have good budget while starting.
- Have global impact.
- Have strong infrastructure.
The Remote Strategy
On the contrary, the this strategy is a bit different. Take this example. On a social media, there a campaign is started by a business of packaged milk to promote the usage of safe and healthy milk (not a particular brand of milk). This would lead to two things. Firstly, people would be more aware of the benefits of packaged milk and they might create an interest in it.
Secondly, viewers might have a good image about the business due to the campaign being the one with social responsibility. Both of these would lead to many favorable outcomes on the business. However, notice the facts that there was less business interference or action. Moreover, a mass audience was targeted. Additionally, there was not much budget used and this created a long term good image for the business. There was not any direct action involved and promotion was done in an indirect way in lesser time. Thus, this strategy is known as the remote strategy.
Let’s see what business it is good for and its properties-
- It is Mostly less or no budget strategy but consumes time.
- Have a slow growth and conversion because no direct approach is involved.
- Social image is more of development than business.
- Forms a strong foundation.
- Will take time to expand and you have to plan accordingly and strategically.
- Usually employed by less budget startups.
What is the outcome when we churn out these two?
Both strategies are really good for social media marketing. Both can be used in different situations. The active approach can be used when the business has newly started and needs a customer base fast and rapid development. The passive approach can be used when business is targeting a long period of time and is short of budget. Both are either way advantageous for business and have no such harms.
What are the channels of social media marketing?
There are various channels are available to promote your product through.Some involves money but most of them are free to use but time consuming. Here are those-
There are even more but these are ones who have recognition and value to businesses and users.