So, you have decided to opt digital marketing. You might have heard people say “social media is changing everything”. You might also have heard that the right marketing strategy is the tool that can unlock the true potential of social media marketing (SMM). But, with the market being overwhelmed by many marketers, how can you validate the worth of their strategy and more importantly, select and improve upon your own valuable technique? Return on Investment (ROI) will always be a hot topic when you have to adapt to change. Will your strategy be able to ensure effective marketing governance?
There were times when products were endorsed through campaigns to grab consumer’s attention and the best mediums to do so were TV, radio, billboards and newspaper ads. There were times when families gathered around TVs for a relaxing evening and scoured through channels to find a wholesome show, when every household had subscription to magazines and newsletters and everyone tuned into radio for news and entertainment. Marketers used this as an opportunity to attract their consumers by selling advertisements which in turn got them a market place in the existing world.
Marketing has evolved over the last 50 years from billboard advertising right through to present day digital engagement. The way people consume content has vastly changed and the richness and cheapness of internet has attracted a pool of marketers to experiment the current development and trends of social media marketing strategies for business.
Today’s marketing is about more and more promotional vehicles, more clutter and more choices. Technology has dramatically changed the way people consume content, digital media are revolutionizing the way people communicate between each other as well as the way they connect, leading to an increase in the Customer to Customer activity.
Digital marketing is characterized by elements that completely changed marketing communications. People are identifiable, for instance, thanks to the social media profiles; communications, information and content are available instantly; the receiver of information is now active and participates in any type of conversation, which enables interactive relationships; the consumer can choose what kind of information they want to receive as well as they can respond to it and give their opinion, which gives them consequent control; finally, digital marketing is based on co-creation, the content is co-created by the marketer and the consumer, placing the latter as a participant and no more as a recipient.
Branding is a huge part of any successful franchise. With changing times, comes the need to find new branding strategies. Businesses because of social media don’t control the information as they did in the past and the consumers are able to control their brands, since a real word of mouth phenomenon was born through social mediums, which become critical for businesses to use.
It is understood, that businesses have to become customer oriented and that they should implement interactive and customized communications strategies, through some digital marketing components, the most important and the fastest growing, social media marketing.
Social media are used to communicate and to engage customers. It is becoming an exponentially popular way to advertise as it gives good opportunities for targeting an audience. Consumers impose their terms, making the brand promotion trickier for companies as they have to give up the monologue and adopt the dialogue in terms of advertising. Companies must stay up to date and go find new generation of customers on the media they use, hence, the growing importance of social media marketing.