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/>
We should not forget that social media can be complex and as its complexity grows, it requires a lot of time and expertise to be able to manage it. There is a good point at saying that social media could be low cost compare to other tools. Try a one page newspaper or an ad in a magazine, and the cost differences are staggering. But let’s not forget that just as easy is to social media, thousands of businesses are also doing it, so your brand is not that special anymore. So it seems that as a marketing research tool, is an inexpensive way to marketers to interact with the consumers. Seems like social media is not for every business, and the ones that are successfully at it, must spend tons of time to be able to generate a response.
ReplyDeleteelectricmobile
Hey Nicole,
ReplyDeleteThe way you broke down Social Media sites is very interesting. I agree with you, but also agree with electricmobile. Although easy for us, the increase in social media has been a difficult change for the older generations who are not as technologically savvy and who cannot really reach an understanding for its complexity. But, this has to happen! It will help the younger generations tremendously as far as networking and being in touch instantly. Great topic for a blog!
You bring excellent points that have drawn many companies to the social networks and other sources that go along with today's technology.
ReplyDeleteHowever, with all the tools available for customers to make the "best" choice and companies trying different ways of engagement, it sometimes gets a little overwhelming for the consumers when making a decision.
How everything is evolving now days, I foresee the close down of some stores and more websites that will let consumers purchase goods and services.
I invite you to see another aspect of Customer Engagement by reading my blog The Power of the Apps
Excellent blog Nicole! I thought your points on there were very well thought out and I definitely learned something new about how important social media can be. It is so very true that the interactive nature of these social media platforms is hard to match anywhere else. It allows a business to directly interact/respond to there loyal customers and fans which is an invaluable tool to have as a marketer. You also made a great point that it is a relatively cheap promotional tool to use for a company as a whole. Definitely learned something new, thanks.
ReplyDeleteVery interesting point regarding customer service, most people who offer social media services to businesses don't even pitch that point. However, it's really important to note that people with more legitimate complaints would call or email before turning to social media for customer service. Responding in a positive manner to all customer service related concerns on social media is a great thing to do in order to maintain a positive image.
ReplyDeleteI really enjoyed your blog and am looking forward to your future posts :)
-BeBonta
I agree that customer engagement and customer feedback are two of the most important things to look at when doing a social media campaign. Regardless of what you are promoting, the competition you face from companies promoting the same service or product is endless. As a company, you have to make yourself stand out from your competition. As a company, if you are engaging your potential customers, you are keeping them on your website or social media account longer. The longer they stay and the more frequently they visit, the better the chances are that they will eventually become a client of yours. Customer feedback is also just as important. As a company, if you don't respond to customer feedback, negative comments can spread quickly.
ReplyDeleteSocial media marketing is the new form of marketing and the reasons you mentioned are excellent reasons that justify why. Companies are turning more to this type of marketing because new generations use the internet in a daily basis. As you show in your post, this is very successful for companies and they will do it as long as they get a profit from this.
ReplyDeleteHi Nicole,
ReplyDeleteI completely agree with you on that article, social media can be really helpful to promote companies. I actually did my blog this week about how can online marketing bring more awareness to global warming which is very important subject. And I too believe that social media such as Facebook and Twitter can be really useful. Online marketing I believe became the better way to promote companies or any causes.
Joanna Karam
I enjoyed reading your blog. The information provided here truly helps you understand the benefits of developing a good social media strategy. I would say that 1) Customer Engagement with the company/ Brand Awareness and 2) Low cost are the most attractive ones. Social media as a marketing strategy is an effective and inexpensive way to expand your brand awareness. As you mentioned, many companies do not realize how important e-marketing is. From my personal experience, my business was growing at a constant rate while we were using traditional marketing. Now, my business is rapidly expanding our brand awareness since we incorporated e-marketing. Social media sites are a great tool and if you are interested in how social media marketing is a great strategy, please visit my blog.
ReplyDeletehttp://smartapproachtothebusinessworld.blogspot.com/2012/04/future-is-now-social-media-for.html