Benefits of social media marketing
| Benefits of social media marketing |
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According to Andreas M. Kaplan and Michael Haenlein "Social media is a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of User Generated Content" (A. M. Kaplan, M. Haenlein 2010, p. 61).
According to Adrian Andrews Social Media Marketing (also known as Community Press Marketing (S. Sajid 2016, p. 2)) is "a term used to describe the process of boosting website traffic, or brand awareness, thought the use of social media networking sites" (A. Andrews 2014).
Benefits of Social Media Marketing
There is no doubt that Social Media Marketing is significantly different from conventional promotion methods. According to Sajid Sl that is why Social Media Marketing has three important benefits:
- First of all, it creates an opportunity for marketers to present items or solutions to customers. It also focuses on customers’ grievances and suggestions.
- Secondly, it provides marketers with some tools to discern various professional categories or influencers among various categories. The influencers can help in the development of the item and promote this item on their social media channels.
- Finally, there is almost no cost. It is widely known that most of social media websites are free so they do not generate additional costs (S. Sajid 2016, p. 2-3).
But Social Media Marketing offers also other advantages too. According to “2019 Social Media Marketing Industry Report” there are such benefits as:
- Generating exposure of the business
- Creating better results in traffic (for example on companies websites)
- Gaining new business partners
- Obtaining better results in sales
- Developing loyalty among fans
- Expanding marketplace insight
- Improving in thought leadership
- Generating potential customers thanks to social platforms (M. A. Stelzner 2019, p. 7-10).
Moreover, investing in Social Media Marketing allows companies to get in touch with their customers. Recognizing their needs is a way to create better items for sale. According to S. Sajid "It’s the best way to learn from your clients about their needs and your own shortcomings". It must be remembered that Social Media Marketing is customized marketing and promotion tools and can not be targeted to all categories, unlike conventional marketing (S. Sajid 2016, p. 2-3).
Examples of Benefits of social media marketing
- Increased Brand Awareness: Social media is a great way to increase brand awareness and reach more potential customers. With the right strategy, companies can create more visibility and recognition for their products and services.
- Improved Brand Loyalty: Social media is an effective way to build brand loyalty. When companies use social media to interact with their customers, it creates a sense of loyalty and connection between them. This can lead to increased customer satisfaction and more repeat purchases.
- Boosted Sales: Social media can be used to promote products and services, which can lead to increased sales. Companies can create ads, special offers, and incentives to encourage people to buy from them.
- Higher Conversion Rates: Companies can use social media to improve their conversion rates. By providing helpful content and engaging with potential customers, companies can turn leads into paying customers.
- Enhanced Customer Insights: Social media provides valuable insights into customer behavior, preferences, and interests. Companies can use this information to better understand their target audience and develop more effective marketing strategies.
- Increased Traffic to Websites: Social media is a great way to drive traffic to a company’s website. By posting engaging content and sharing it across various platforms, companies can generate more web traffic.
Limitations of Benefits of social media marketing
Despite the numerous benefits of social media marketing, there are several potential limitations to consider. These include:
- Lack of control: Companies may not have full control over the conversations taking place on their social media channels, which can lead to negative publicity.
- Limited reach: Social media platforms have algorithms that limit the number of people who can see any given post, so even if a company has a large following, their reach may not be as high as expected.
- Time-consuming: Social media requires a significant amount of time and effort for a company to create and manage content, respond to messages, and monitor conversations.
- Privacy: Social media platforms are constantly changing their policies and user data can be collected in ways that are not obvious. This can lead to privacy concerns for both the company and the user.
- Misleading metrics: Some social media metrics may be manipulated or inaccurate, making it difficult to accurately measure the success of a social media campaign.
In addition to building on the ideological and technological foundations of Web 2.0, there are a number of other approaches related to the benefits of social media marketing. These include:
- Increasing visibility: Social media platforms such as Facebook, Twitter, Instagram, and LinkedIn offer businesses the opportunity to reach a wide range of potential customers. Through the use of these platforms, businesses can create brand awareness, increase their reach, and build relationships with their customers.
- Improving customer service: Social media can be used to respond quickly to customer inquiries, provide customer support, and build relationships with customers. This can help businesses to increase customer loyalty and satisfaction.
- Increasing sales: Social media can be used to promote products and services, as well as to drive sales. Businesses can use social media to reach new customers and to increase their sales.
In conclusion, there are numerous benefits to utilizing social media for businesses. It is an effective way to build relationships with customers, increase visibility, improve customer service, and increase sales.
References
- Andrews A. (2014)., Social Media Marketing - Internet Marketing Cheat Sheets Volume 3, internetcheatsheets.blogspot.com
- Barefoot D., Szabo J. (2009)., Friends with Benefits: A Social Media Marketing Handbook, No Starch Press
- Huysman M., Leonardi P.M., Steinfield Ch. (2013), Enterprise Social Media: Definition, History, and Prospects for the Study of Social Technologies in Organizations, "Journal of Computer-Mediated Communication", nr 19
- Kaplan A.M., Haenlein M. (2010), Users of the world, unite! The challenges and opportunities of Social Media, "Business Horizons", nr 53
- Saravanakumar M., SuganthaLakshmi T. (2012), Social Media Marketing, “Life Science Journal”, nr 9(4)
- Schoja V. (2016)., Why Should Companies Invest in Social Media Marketing?: Parameters and Means for Performance Measurement, Anchor Academic Publishing
- Sajid S. (2016), Social Media and Its Role in Marketing, “Business and Economics Journal”, nr 7
- Stelzner M.A. (2019)., 2019 Social Media Marketing industry report. How Marketers Are Using Social Media to Grow Their Businesses, Social Media Examiner
- Zarrella D. (2009)., The Social Media Marketing Book, O'Reilly Media
Author: Joanna Pawlik
