Social Media Marketing
Social media marketing is the new source of how consumers and companies communicate. It is aides the newest entrepreneur on how to build company growth. The future of social media will now be an advantage of how companies can get ahead of their competitors.
Social Media Marketing
Social Media Marketing has become the norm of society because it exists within everyday living. Many people are logged into different social sites such as Facebook, Twitter and Instagram and communicate with each other through those sites on a daily basis. Companies have capitalized on social media to advertise and market their brands. Because so many people are logged on, ...view middle of the document...
The best use for social media marketing is the free advertising that companies can take advantage of. With the use of expensive commercials, magazine and radio ads, and showcase events, social media marketing expands their budget to utilize more focus on the product. When consumers have opinions on the products or services that they use, they will communicate to the world how it impacted their lives. With the use of social media, a company’s product could receive positive or negative reviews based on word of mouth.
Social media also help companies understand the behavior of their consumers. Consumers will voice their opinion about products through social media and companies can find ways on how to make their products better. Companies can collect data and profiles of their consumers to see what their likes and dislikes are to gain the advantage on their competitors (Barlow, 2000). This would help their build a strong relationship between the consumer and company.
Companies can capitalize on brand development by having their consumers submit ideas of what their company’s future should look like. They could also host contests for the best idea and have it advertised around the globe. Brand development within social media can give the consumers more control of how they want their product to be made(.
The Advantages & Disadvantages of Social Media Marketing
Business entrepreneurs have utilized social media marketing to cater to their advertising needs. Since social media is open for all parts of the world it can make their products reach to broader consumers. However, with social media also comes with its small downfalls. By learning how to manage how their product or service moves through social media, business entrepreneurs can control the success of their company. Many entrepreneurs see social media as an asset that can build a startup company and make it successful in a fast growing process.
The advantages of having social media marketing are it can help move the product to the consumers faster, it can give business entrepreneurs a relationship with its consumers and it can reach to different parts of the world. Consumers use social media to express how their experience with a particular service of product (Grunden & Lagrosen, 2013). With great reviews, comes more profit for the company. Business entrepreneurs must pay attention to how their products are services are impacting their consumers. This creates a better relationship where consumers and entrepreneurs can discuss how both parties’ needs can be met. Also by using social media to communicate efficiently through their consumers, business entrepreneurs can also expand their business in different parts of the world. Social media can give a company a wide spectrum to cater to different industries and also network with other businesses that can help future growth.
With the advantages of social media also come the...