Social network marketing strategy

From CEOpedia | Management online

Social network marketing is a new era of marketing, which gives new opportunities in acquiring customers and enables other ways to convey information [1]. It is a type of marketing that allows you to send information that should reach a given person at a given time. It allows you to define customer preferences, what they are interested in and what products can catch their attention. In a social network, company representatives build relationships with new clients and maintain and expand those already gained. In a social network, they share product information, encourage customers to share product reviews and provide new ideas. In a social network, a company can answer consumer doubts. Marketing in social networks can be very beneficial for companies.

Social media strategy

Formulating a personal social media strategy helps:

  1. define expectations which can be determined as personal, professional or both of them
  2. indicate the group of recipients the company cares about the most - private or public
  3. determine resources and the nature of the business

Company strategy in social media can be assigned to one of four separate categories [2]

  1. Predictive practitioner - the strategy is then limited to a specific area, e.g. customer service. It is suitable for companies that need results thanks to the tools. They allow the company to avoid uncertainty. Suppliers constantly communicate with clients by asking them about their needs and ideas for further development or product change.
  2. Creative experimenter - in companies that use such strategies, uncertainty about the success of a given experiment or change is allowed. Products are often tested to find new functions. They gain knowledge from portals such as Facebook and Twitter.
  3. Social media champion - these are large marketing campaigns, very well thought out and developed, which have specific results. There is visible cooperation at many levels and very well organized communication. There are people there who manage project management in social media. They define the principles and guidelines that the company follows in advertising on social media. It is very important for organizations adopting these strategies to talk together and learn from their experiences.
  4. Social media transformer - this strategy also includes external stakeholders who create social projects. These include business partners and clients. The projects have a wide-scale, cover many departments and aim to improve many functions. Some people define how they should function to be up to date with the expectations of customers.

Opportunities and Risks

The constant increase in the popularity of social media requires companies to expand their participation in this form of advertising. Websites help to attract new customers, acquire new information, define their needs and facilitate communication. There is also a risk associated with this form of marketing.

Opportunities [3]

  • way to gain brand loyalty thanks to the independent opinion of the consumer
  • help in creating innovation thanks to direct contacts with clients and information obtained from them on preferences and suggestions for development
  • help in brand analysis and market research
  • social media is a source of information for customers exchanging opinions about products
  • way to promote business extensively

Risks [4]

  • social networks distribute bad information about the company very quickly and extensively. It can damage the company's image
  • consumers who are not satisfied with the service or product can share this information on social media and discourage other customers
  • social media is not as censored as the mainstream media, so anyone can say whatever they want.
  • The biggest problem is privacy and online security

Differences between traditional media and social media

Stephan Dahl indicates that the main difference that is often overlooked is the private and public nature of traditional and social media [5]. Product ratings and customer reviews are not shared with others. In social media, product opinion is created on a mass scale, people constantly exchange opinions, which is why they are marketing creators. This is public opinion. The evaluation of traditional media takes place in private, not collectively like social media. New media provide many more possibilities. They are easier to convey new information and provide it in a way that traditional media would not be able to do. Social media's main features are fast information [6]. The arrival of social media led to effortless contact and communication of consumers to each other in global marketing [7]. It is worth investing in social media, because their profitability is manifested not only in the return of the number of consumers but also are the easiest way to consumers, their data and shopping trends [8].

Examples of Social network marketing strategy

  • Creating a Facebook page and linking it to other social media networks such as Twitter and Instagram: Creating a page on Facebook, as well as connecting it to other networks, allows a business to reach a wider audience. This also increases the chances of users engaging with the page and seeing relevant content.
  • Leveraging influencer marketing: Influencers have the ability to reach a large audience and can be used to effectively promote a product or service. Utilizing influencers on social media can help a business to reach a larger audience and spread awareness of their products and services.
  • Posting content regularly: Regularly posting content allows a business to keep their followers engaged and invested in their brand. This could include videos, images, and even articles that showcase the products or services the business offers.
  • Responding to customer comments: Responding to customers comments is an important part of social media marketing. Responding to any questions, concerns or comments allows a business to show their customers that they care and value their feedback.
  • Creating and running social media campaigns: Social media campaigns can be used to help a business reach a wider audience and increase their visibility. This can include sponsored posts, ads, and other promotional content.

Advantages of Social network marketing strategy

Social network marketing strategy has many advantages, such as:

  • It is an effective way to reach a large number of potential customers quickly. Companies can create campaigns and target specific audiences with content that is relevant to their interests.
  • It allows for an interactive connection between the company and its customers. Companies can respond to questions, comments and complaints right away, allowing them to build relationships with customers.
  • It provides companies with real-time analytics on their campaigns. This allows them to identify what is and isn't working and make the necessary adjustments.
  • It is a cost-effective way to acquire customers. Social networks can be used to drive traffic to websites and to gain more followers, which can be converted into sales.
  • It is a great tool for building brand awareness. Companies can create content that will help them stand out from the competition.

Limitations of Social network marketing strategy

A social network marketing strategy can have its limitations as well. These include:

  • Limited Reach: Social networks have their own limitations on how many people can be reached with a single post. This means that if companies want to reach a large audience, they must invest in paid advertising or focus their efforts on other marketing channels.
  • Lack of Control: Companies have limited control over how their content is disseminated, as users can comment on posts, share them, or delete them. This means that companies must be careful about what content they post and how they interact with users.
  • Inauthenticity: Social networks are often filled with fake accounts and bots, which can make it difficult for companies to create genuine connections with customers. Companies have to be aware of fake accounts and be authentic when interacting with customers.
  • Poor Targeting: Companies often have limited targeting options when it comes to social networks as they can only target users who are already in their networks. This means that companies may not be able to reach their desired audience.
  • Algorithm Changes: Social networks regularly change their algorithms, which can drastically reduce organic reach and negatively impact a company's marketing efforts. Companies must be aware of algorithm changes and adjust their strategies accordingly.

Other approaches related to Social network marketing strategy

An effective social network marketing strategy should include the following approaches:

  • Creating a strong presence on all major social media platforms. This involves creating engaging content, responding to customer queries, and providing quality customer service.
  • Developing a plan to reach and engage the right people. This involves using the right keywords, targeting specific demographics and interests, and developing relationships with influencers.
  • Creating a brand story to let customers know who you are and what you can offer. This involves creating shareable content and engaging with customers in meaningful ways.
  • Analyzing the data from your social media campaigns to assess the effectiveness of your efforts. This involves tracking the success of each post and measuring the impact of your campaigns.

In conclusion, a successful social network marketing strategy should include creating a strong presence on all major social media platforms, developing a plan to reach and engage the right people, creating a brand story, and analyzing the data from campaigns. By implementing these approaches, companies can effectively reach and engage customers to build relationships and promote their products and services.


Social network marketing strategy — recommended articles
Areas of marketing — Social media optimization — Interactive agency — Benefits of social media marketing — Digital media marketing — Market reach — Digital marketing strategy — Influencer marketing strategy — Marketing department

References

Footnotes

  1. ↑ A. Albarran 2013 p.87
  2. ↑ HJ. Hilson, PJ. Guinan 2011, p.2
  3. ↑ W. Assaad, JM. Gómez 2011, p.19
  4. ↑ W. Assaad, JM. Gómez 2011, p.21
  5. ↑ S. Dahl 2018, p.208
  6. ↑ M. Saravanakumar, T. SuganthaLakshmi 2012, p.1
  7. ↑ Abzari, Ghassemi, & Vosta, 2014, p.2
  8. ↑ D. Godes 2004, p.15

Author: Karolina Kaleta

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