Abstract
Effective marketing and advertising strategy is a necessity in order to have successful saturation in the market. There are numerous marketing strategies at the disposal of companies to use, including, but not limited to social media. Trends in social media have grown exponentially over the past few years and many companies nowadays are utilizing this marketing strategy to their advantage. This paper will focus on leading edge trends in integrating social media into traditional marketing and advertising campaigns. I will also discuss recommendations for incorporating social media into the market segments of Mini Laps that we are targeting, as well as how I will measure the results of these recommendations.
Leading Edge
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It is very important to choose a marketing strategy that will reach your target market. An appropriate example of this would be if Microsoft is trying to market their Xbox One; they would not want to advertise in Cosmopolitan magazine. It’s apparent that the target market for video games and video game consoles is probably not those women (and maybe some men) who read Cosmopolitan magazine. A more suitable choice for Microsoft would be PC World or even Sports Illustrated. However, it should be noted that not every product in this world is that simple to formulate a marketing strategy for. There are quite a few marketing outlets and strategies at a company’s disposal nowadays, including magazines, social media, TV, radio, and newspapers. Up until recent, companies made the most use of television, newspapers, and magazines. However, huge advancements and innovations in technology have opened up new doors when it comes to a brand new marketing strategy: social media. This has become the newest and most popular method of marketing strategy that companies nowadays are employing to fully comprehend their target markets. Social media offers a very large space to exploit for the purposes of market saturation and brand awareness. Most people actively use some type of social media whether that is Facebook, LinkedIn, Twitter, or Instagram. According to Hoffman and Fodor, “this is a world in which customers are
The use of social media marketing has become a standard way in which organizations advertise their products or services. Social media marketing allows consumers to have immediate access to other consumers reviews or to post a review about a product or service. There is engagement between the company and the consumer (Evans, Dave 2010). Social Media emerged in the late 1980’s when websites such as Prodigy, Compuserve and America Online. Prodigy was first of it’s kind and was known as a ”consumer online service”. Half of the page is devoted to advertising. Facebook, Twitter, Myspace, Hi5, Bebo and Orkut are all social media platforms that are utilized as platforms today.
One of the key roles of social media from a marketing perspective is the development of a client based platform. It is becoming an increasingly important part of any business’s marketing. Businesses can utilize existing online platforms to build networks of current and potential clients. By being active online allows businesses to connect with their customers in innovative ways to become a trusted source of information and convey the passion they have for their industry.
Social media is increasingly becoming a necessity for companies who wish to compete in today’s world and new, exciting ways of using it are constantly emerging. Many consumers—especially young consumers who have grown up using social media—have grown to expect to be able to obtain information about a company online with speed and ease and may move on a company’s competitor if they are unable to do so. Beyond communication some other benefits that companies can reap by using social media are increased brand recognition, improved brand loyalty, increased exposure to new audiences (which is also related to increased traffic for corporate pages and websites), as well as marketing savings from high levels of effectiveness of social media marketing as well as use of free social media tools (DeMers, 2014).
In “An Examination of the Factors Influencing Consumers ' Attitudes Toward Social Media Marketing.?” Akar and Topcu point out that social media has become a phenomenon in marketing. (Akar and Topcu, 2011) Marketers are beginning to understand the use of social media as a component in their marketing and strategies and campaigns to reach out to customers. Promotions marketing intelligence, sentiment research, public relations, marketing communications, and product and customer
Nowadays, social media hold a place alongside broadcast and print as a major, essential brand’s product and service channel for your businesses. As such, nowadays social media should be held to the same standards as those marketing channels that contribute a lot more to your bottom line
The question of proper ways to manage a company’s brand in the 21st century cannot be answered without discussing the use of social media outlets in today’s market place. Social media is an outlet source that allows companies to show their products and services at little to no price. Because social media outlets are at such a low cost and reaches a huge consumer base it has become a major factor over the past fifteen years in society. However, are these good enough reasons for a company to use social media as a marketing tool?
The three keys to successful marketing are identifying, targeting, and connecting with the right audience. In today’s technological world, having a presence on social media is essential to marketing success. According to studies, more than half of the population of the United States has a profile on at least one social networking site. Marketers who do not take advantage of social media are missing out on a crucial opportunity to connect with customers, and those who do are ahead of the curve.
Social media is today widely integrated into dynamic computing and servicer architecture. In fact, social media can do so much more today than some years ago. With Twitter or Facebook it is possible to use networking and information sharing techniques to build high quality links and increase PR of a target site. In fact, social media marketing integration is so ingrained into the 21st century system it has become part of the entire cultural process in fact, as some authors state, it is part of the market creation process. Social media is a relatively new term that includes web and mobile based technologies that allow communication to be more of an interactive dialog between individuals, communities, and organizations. It is a way that technology is used to enhance communications and enable different sorts of cultures and groups to interact.
Marketing via social media is one of the most common things we face today. There are ads for many different companies on every social media outlet and because of the way the internet is wired, usually it is a product that you have just contemplated purchasing. In an academic journal titled, “Social Media, Social Me: A Content Analysis of Beauty Companies’ Use of Facebook in Marketing and Branding,” Bin Shen and Kimberly Bissell of the University of Alabama take a look into, “How beauty brands employ social media, particularly Facebook, to increase brand awareness and reinforce brand loyalty.”
Just a few years ago, social media was considered a relatively new phenomenon yet present day would say something entirely different. Social media has now become a vital part of any modern marketing mix, so much so that managing your presence on what are considered the “big three” (Twitter, Facebook and Google+) is now a must. If you aren’t social media ready, then your business simply isn’t up to speed. For those who still find themselves sneering at the thought of supposedly reducing themselves to opening an account on these “childish” social media platforms, we ask you: how much more proof do you need than 665 million daily active users on Facebook and now well over 500 million registered accounts on it’s little sister Twitter? Social media marketing is indeed the way forward. Granted, lacking social profiles on the likes of Pinterest, LinkedIn or Tumblr may not do you any harm but if you’re looking to reach far greater exposure in the digital market place, then social media marketing is the way to do it.
Social media poses significant obstacles and opportunities for companies. As Qualman (2010, p. xiii) states, social media pervades literally every facet of a company's existence, yet despite this (or perhaps because of this) social media seems to resist easy definition. For the purposes of this paper, social media refers to the ways in which a company communicates using digital media. On the one hand, there are a number of ways in which a company can now market themselves to the public; on the other hand, a company accustomed to traditional marketing strategies will be negatively affected if they do not integrate social media strategies. In this paper, a number of strategies are provided for online marketing, relating to advertisement, customer service, and communication within the company itself.
Social media is defined as a group of Internet-based applications which build on the platform of Web 2.0 and the contents of these applications can be modified by all users in a participatory and collaborative method (Kaplan and Haenlein, 2010). Social media creates a platform for companies to talk to their customers as a hybrid element of promotion mix. With the emergence of social media, the tools and strategies for companies to connect with customers have also changed (Mangold and Faulds, 2009). To adapt with the emergence of social media in the marketing, companies should have unique insights about these significances (Quan-Haase and Young, 2010). The significances of social media embody three main aspects which are technology, decision-making and purchase behaviors of customers.
The main purpose of this study is to evaluate social media marketing in emerging marketing that is arising from globalisation, digitalisation, liberalism and high-standards that are flowing economic power. Kim, A. J. & Ko, E. (2012) defined that social media marketing is a method of modern marketing that develops social internet networking websites to target a market. A core objective of social media marketing is to develop and produce contents that can be utilised with social network in order to enhance brand acquaintance and publicity as well as to provide an opportunity to customers to broaden their range and demand.
Let’s be honest, in an ever rapidly changing society where technology is more accessible and more commonplace, marketing has become very versatile and efficient from major companies to small businesses capitalizing on the social media craze. Keeping up with trends is no exception when it comes to the marketing industry to promote and generate business for products such as movies and shows on Netflix to services provided by a small tax consultant firm trying to make a name for itself. The focus of this paper is to illustrate the different areas of marketing related to social media in today’s society in hopes of stressing the importance of how marketers conduct business with current technology and how it helps consumer interests. Aspects covered in this paper will include the benefits social media provides, marketing tools entrepreneurs are utilizing to promote their product, and a series of data to support the use of social media and the impact it has on consumers and entrepreneurs.
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