Social Media Marketing
In order to develop a company’s brand, boost sales, and enhance website traffic, social media marketing, often referred to as digital marketing and e-marketing, makes use of social media platforms where users may create social networks and share information. Social media marketing (SMM) gives businesses a method to interact with current consumers and attract new ones. It also contains data analytics features that are specifically designed to help marketers monitor the effectiveness of their campaigns and find new opportunities for interaction.
Connection:
Social media not only makes it possible for businesses to connect with customers in previously impractical ways, but it also offers a staggering array of channels through which to reach target audiences, from content platforms like YouTube and social media sites like Facebook to microblogging services (like Twitter).
Interaction:
Businesses can take advantage of free advertising opportunities via eWOM (electronic word-of-mouth) referrals between existing and future customers by leveraging the dynamic nature of social media interaction, whether direct dialogue or passive “liking,” on these platforms. The fact that these interactions take place on the social network makes them measurable, in addition to the fact that the positive contagion impact from eWOM is a valuable driver of consumer decisions. For instance, companies might assess their “social equity,” which refers to the ROI of their social media marketing (SMM) initiatives.
Customer Data:
Customer data is another priceless resource that a well-designed social media marketing (SMM) plan offers to improve marketing outcomes. SMM solutions have the ability to not only gather consumer data but also transform this gold into practical market analysis—or even use the data to crowdsource new strategies—instead of being overwhelmed by the 3Vs of big data (volume, variety, and velocity).
