What is the impact of social media on marketing?

What is the impact of social media on marketing?

Due to the impact of social media, the relationship between brands and consumers has changed a lot. Nowadays, companies create strategies after analyzing and understanding the demands, likes and dislikes of target consumers, through social media. 

Social media has had a major effect on the world and on business. Starting from a multinational company or a small start-up, everyone embraces social media marketing to make their brand or services visible.

Traditional marketing media such as radio, TV ads, and print ads were very expensive media. But now, thanks to social media marketing, companies or brands can connect with their target customers for free, the only cost is time. By using social media platforms like Facebook, Twitter, LinkedIn, etc., you can reduce your marketing costs.

Social media marketing has a huge impact on businesses and the market as the growth and performance of the business takes place at an astronomical rate. Social media helps develop business tactics. Social media platforms like Facebook, Twitter, LinkedIn, etc., provide businesses with the opportunity to grab the attention of customers while creating a brand image. 

These social networks allow businesses to use tactics to build and build branded profiles such as fan pages, contests, etc. Through social media marketing, one can learn about the tastes and preferences of the customers as well as the latest trends adopted by the public.

Social media has countless benefits, including:

• Improved customer knowledge

Businesses better understand their customers by allowing them to share their perspectives, knowing the brand is listening. Social media allow them to know the opinions of potential customers and to make contact with them.

• Best customer service

Social media allows businesses to respond almost instantly to customer grievances, questions and concerns. Customers want to be assured that if they have a problem, they will receive assistance as soon as possible.

• Profitable

When a business is using a fixed marketing budget, social media is the most cost effective way to market and promote their business. Websites like Facebook, Twitter, Pinterest, etc. allow all businesses to share their content for free. Social media is therefore an affordable advertising platform.

• Connectivity

Businesses will always stay in touch with customers with regard to changing preferences, lifestyles and resources, and adapt to changing consumer interests.

• Establish brand awareness

Through social media, it is possible to increase brand awareness among customers, as businesses can do this by boosting their image.

• Sales

Increased exposure through social media drives traffic to the business. This, in turn, converts potential customers into actual customers.  

Some of the major social media platforms are:

• Facebook  is a popular free social networking site where registrants can create profiles, upload photos and videos, send messages, and stay in touch with friends, family and colleagues. Users can also create Facebook pages related to companies, brands and services. There are 2.07 billion monthly active users on Facebook, an increase of 16% from the previous year.

• Twitter  is a well-known social networking site that allows registered members to write their posts via short messages called tweets. There are 330 million active Twitter users.

• LinkedIn  is a social networking site designed for business people, professionals, managers, etc. LinkedIn has 467 million connected members. Basically, this site allows registered members to connect and build a network of people they know and trust.

• Instagram  is a rapidly growing social media platform that allows users to share their images, stories, and promote their business. Instagram has 800 billion monthly active users. Instagram is used by many brands to promote their products, target their audience, and generate real social value.

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