Social Media Marketing
Principles of Marketing BUSB340
Dr. Vernon R. Stauble
July 28, 2011
Social Media Marketing
Social Media Marketing is an internet-based that allows people to participate actively in the marketing and selling of products and services in online marketplaces and communities. It is used to persuade consumers to buy products and services that are worthwhile to them at low-cost combining technology and social interaction (Lake, 2011). It allows businesses marketing their products at cost effective with the advantage of targeting specific markets. Social media is an online word of mouth communication that creates a cycle of acquisition and retention ...view middle of the document...
Due to the great potential of the rapid emergence of the new technology social media marketing have become a great way to spread the word about products and services and at the same time improve the public perception of products. One of the main goals of any company trying to promote its products in a social media market is to make sure they are on top of the changes in technology.
Successful companies have adjustable goals by understanding that while you set initial goals, when the “rubber hits the road” most companies find there is a need to adjust their objectives as they come to better understand the nature of social participation among their customers base (Dudley, 2009).
When companies use social media marketing, they have to make sure that the product they are promoting keeps a positive image because any negative review can destroy the opportunities to compete with other rival companies (Dudley, 2009).
Companies must secure customers by providing them excellent customer service, with lower prices than the competition and providing a product that performs better than the competition. A good website has the potential to sell products and promote the company’ image.
To have an effective social media marketing the company needs to engage visitor’s traffic to introduce them and get them familiar with the product the company is trying to promote (Dudley, 2009). When the company has captured the customer, it needs to keep an open dialog with customers and be aware of any suggestion or comments from its customers. It needs to listen to its customers and their feedback to determine if company needs to change strategies to keep its goals.
There are many businesses that use the social media marketing to stand out from the millions of options the customer has. A company must be creative and have specific goals to succeed when it wants to target the social media marketers.
Companies use Facebook, Twitter and other blogs to promote their business and built relationships with customers with measurable results like getting the company endorsed by customers on very good customer services. A company who has succeeded in this very tough economy, mainly to its high level of creativity around the social media space is AJ Bombers, a burger joint in Milwaukee.
AJ Bombers was launched in the middle of the worst recession even when it was located at an address where at least five businesses have failed in the recent years. However AJ Bombers has been able to utilize the social media to change the way business are done and create a successful business in just one year from its grand opening (Ray, 2010).
Like any other business who is introduced in the market a great product and set of goals are important to be successful, but the most important is to have a good customer service. As Joe Sorge, owner of Al Bombers says “Great customer service is...