Internet Technology, Marketing, and Security
Contemporary Business – 508
May 30, 2013
Evaluate the reasons Social Media Marketing has become exceedingly popular among businesses of all sizes
When social media first began, it was viewed primarily as a way for people to have fun online by communicating with one another about a diverse variety of topics, similar to a type of “online recreation” on a personal level. It didn’t take long for companies to realize the opportunities available for using social media for business. The participation in social media once it caught on has been tremendous, and it only seems to grow with each ...view middle of the document...
It is nice to hear when the product is excelling in the market place, but it is a flip side, too. Businesses have a chance to evaluate negative aspects of a product in the public’s view, and often times these aspects are simple in nature and easy to fix if they seem warranted and doable. ( Wigisocial.com)
Analyze the advantages and disadvantages of Social Media Marketing for business entrepreneurs
There are advantages and disadvantage to having social media for business entrepreneurs. They can use community building which social media programs offer businesses unprecedented opportunity to communicate with customers on an informal level at any hour of the day. With a social media account you can participate in discussions, answer questions and provide customer support all under the watchful eyes of customers and potential customers. This type of public communication builds your brand’s reputation, establishes your company as an industry authority and builds community. In addition it, it keeps users engaged, which keeps your brand at the top of their minds. (Elizabeth Smith)
Word of mouth advertising the nature of social media means that it is easy for users to share information. When it comes to business marketing, easy sharing increases the potential for word of mouth advertising. Happy customers have the power to share a positive review, which builds credibility and trust for your brand among the people in user’s social networks. Even negative comments or reviews can have a positive outcome; when you reply quickly and professionally you demonstrate responsiveness and commitment to the customer. (Elizabeth Smith)
Exposure and Reach is something else to think about in businesses, because many businesses have a limited customer base; with social media, you have the chance to reach millions of users, both in and out of your geographic area. The potential is almost limitless. At the end of June 2012, Facebook reported over 955 million monthly users. In August of 2012, LinkedIn reported over 175 million users, two new members signing up per second. In addition to increased exposure, effective social media campaigns have additional benefits. According to Inc. magazine, they can drive traffic to your website, improve your search engine, rankings, boost sales and find new business partnership. (Smith 2012)
Market Research is another advantage to businesses because it is a crucial consideration during the marketing strategy development process. According to Inc. magazine, social media is bidirectional and the Internet has a permanent record, which means that in addition to using it for marketing purposes, small businesses can use it to gather marketing intelligence. “With social media, you can monitor competitors’ strategies and learn from their successes and failures. On the customer side, you can search for trending topics and track user comments to find out what matters most to your audience in real time. With that...