First let’s talk about Social Media Marketing. According to Adam Hayes that the use of social media and social networks to sell a company's products and services is referred to as social media marketing (SMM). Companies can use social media marketing to communicate with existing consumers and reach out to new ones while also promoting their intended culture, mission, or tone. Marketers can track the performance of their efforts with social media marketing's purpose-built data analytics tools.
So, Businesses took notice as social media platforms like Facebook, Twitter, and Instagram grew in popularity. They began to employ social media marketing to promote their interests on these sites. Also, Marketers can use a variety of approaches and techniques on social media networks.
These are the three (3) major reasons why social media can be a powerful component of the IMC Mix:
• Consumers choose to interact with the company, its brand, or its products.
• The company, its brand, or its products can tailor their message to the medium.
• Two-way communication and a multiplier effect are possible with social media.
Social media can give a natural approach for a company, its brand, or its products to engage with consumers and customers. As a result, they will be able to curate their content to convey more subtle or expansive ideas. Unlike television, radio, and even print, which all have physical limits, such as time and space, social networks allow businesses and brands to communicate in whatever medium suits them best, such as long form storytelling, video, and picture. Furthermore, brands can be themselves on social media, knowing that the majority of their followers are committed consumers and supporters.
For Example:
A lot of Philippine businesses or companies use social media to market their products or services. Just like the two favorite fast-food chains of all time, the Jollibee and Mc Donald. These two rival fast-food corporations took place on different social media platforms to communicate and get the attention of Filipino families through heartfelt short videos about bonding of family, friends and loved ones. Also, the eye-catching promo posters that have been posted on their social media websites. In different vlogs that promote the products.
The impacts of websites, blogs and social media in Marketing
In terms of brand awareness, consumer engagement, income, and customer service, social media has a number of positive effects on businesses. Monitoring your competitors' social media profiles is an excellent method to assess them.
1. Social media gives your omnichannel customer service a new dimension. Customers today want to communicate with brands via social media because they receive immediate attention. According to research, 42% of customers want a reaction on social media within 60 minutes. Customers that reach out to you through various social media channels might be engaged through social media. REVE Chat is a multi-channel live chat technology that unifies client engagements across websites, social media platforms, mobile devices, and messaging apps.
Nike has a fantastic customer service approach. It has one of the best Twitter customer service accounts. Team Nike, their official Twitter account, provides help seven days a week and in seven languages. @teamnike responds immediately when a consumer mentions Nike's official Twitter handle. This demonstrates the brand's commitment to resolving consumer issues.
2. Social networking allows you to reach a larger audience. Almost 90% of marketers claim that their social marketing initiatives have boosted their company's exposure. People are increasingly using social media sites to learn more about businesses. Share company news and even upload related photographs or links to stories/studies in their field via social media outlets. It also increases customer trust and exposes them to a new demographic of potential customers.
3. Word of mouth is created by social media.
The role of word of mouth has changed since the advent of interactive and social media. Online reviews are regarded by 72 percent of individuals in the same way as personal recommendations.
A lot of the Customer of Nikeph posted their feedback about the product they bought through Instagram and tagged the official account of Nike. Because of it millions of Instagram users can see the posted photo and the feedback and that will simply become part of their basis if they will avail or not the same product.
4. SMM (Social Media Marketing) is cost-effective.
Because social media marketing is seen as a more targeted form of advertising, it is extremely effective in raising brand recognition. A single person sharing or retweeting a message from your firm might reach hundreds, if not thousands, of people for free.
5. Social media allows you to get direct input from customers.
Businesses who use social media to respond to customer service demands earn 20 percent to 40 percent more revenue per customer. Customers can provide first-hand feedback through social media platforms, which can help improve the brand's image, reputation, and customer relationship. Customers want to feel heard and valued, and this makes them happy.
6. The utilization of social media increases user engagement.
The average person uses social media for just under two hours every day. The positive impact of social media involvement on your brand's reputation is immeasurable. A single critical tweet might result in unfavorable PR in an instant. Post funny material on a frequent basis to keep your business at the top of the newsfeed.
7. The new marketing is social customer service. On a global scale, WhatsApp is the most popular customer service medium. Every day, more than 60 billion messages are shared by more than 1.5 billion monthly active users. The app can help businesses improve their customer service.
8. Social media can act as a catalyst for progress.
Outbound marketing has a lead-to-close rate of 100 percent, while social media marketing has a lead-to-close rate of 100 percent. Social media marketing is essential for all businesses, large and small, and especially for small businesses.
A good illustration of this is Twitter. 67 percent of Twitter users are more likely to buy from firms they follow, according to MediaBistro. Furthermore, 42% of consumers use Twitter to learn about items and services they are interested in. This kind of outreach can't be overlooked.
9. Your brand's loyalty is boosted via social media.
One of the primary elements of any business is to build and retain brand loyalty. Through social media, you may create relationships with your customers, which builds loyalty and advocacy. According to research, 66 percent of users aged 18 to 24 are more loyal to the brands they follow on social media.