We all know the outstanding
popularity of social media websites. With the creation of a new type of segment
to target to, the development of a new service, social media marketing, has
become inevitable for millions of companies around the world.
I have already talked about some disadvantages
associated with social media marketing, and how to overcome them. Now, on a
more positive note, lets talk about the benefits of developing a good social
media strategy:
1)
Customer Engagement with the company/ Brand
Awareness: This is an obvious benefit that results from social networking
websites. The more you engage the customer (by giving them more information
about the products, doing raffles, surveys, posting pictures, tweeting, etc.)
the more you make your brand stick in their head, which leads to customer
retention and loyalty.
2)
Low cost: Social media can be very inexpensive compared
to other promotion tools and the results that it might bring. Social networking
websites offer free registration, and the endless things that can be done with
these accounts (if wisely used) are relatively affordable. We need to have in mind
that a staff dedicated to maintaining these websites is needed, and paid ads
within these websites are also good since it helps bringing more followers (due
to behavioral marketing).
3)
Customer Service: Social networking sites bring
an alternative way of offering customer service to customers. Is an easy and
interactive way of doing it, and by answering a question to one customer, this
same answer might help a hundred of other customers. It is a quick and easy way
for users since they are almost all the time connected to their networking
sites, and prefer this medium rather than others available.
4)
Feedback: Interactive feedback can be really
beneficial for a company. Through customer interactions and opinions about
products, a company can immediately know the different reactions to new
products or services, and act accordingly. Feedback through social networking
site might also reduce the cost and time of doing surveys, phone calls, and
focus groups in order to gather and measure qualitative and quantitative data,
and create reports. Even though some feedback might be negative and the effect
of word of mouth might also affect the brand negatively among its costumer, the
same medium and exposure can be used to restore the image (as discussed in my
previous post).
5)
Market Research: As mentioned before, social
media marketing leads to easier gathering of qualitative and quantitative data,
which is crucial for marketing research. These are different things that can be
result from social media, and that can be used for marketing research:
a)Online Focus
groups
b)Online Trends
c) Online Forums
6)
Leads: Social media is about lead generation. But it does not stop
there, it should be used as an essential tool to educate these leads and
improve the lead conversion opportunities.
Social media websites are an
awesome tool to build communities, and also to maintain, educate, and engage
these communities into the company’s culture. I believe that this is one of the
areas of marketing that should be more prioritized and valued in a company. It
is accessible, and with effort it
can generate dramatic results. ROI is difficult to measure, but is very
attainable!
Happy Sharing!
- Nicole Quinones
Sources:
Horton Chris (2012), “Why Social
Media Marketing is a Bust for Most Companies”, Social Media Today (April 13), http://socialmediatoday.com/synecoretech/489132/why-social-media-marketing-bust-most-companies
“Benefits of Social Media for
Market Research”, Frontera Marketing
Group, (January 18, 2011) < http://fronterahouse.com/blog/2011/01/18/benefits-of-social-media-for-market-research/>