Domain: Social Media Marketing
The advent of social media platforms have created a revolutionary impact on business communication. These platforms have helped to bring large number of audiences under one roof, thereby giving the opportunity to the marketers to seamlessly communicate with their target audiences instantly. The key benefit of using social media as a marketing tool is that the process of communication is highly streamlined in nature. Advanced algorithms embedded in social media platforms like Facebook, Instagram and YouTube, allows marketers to reach out to the audience base that best suits the profile of their target customers.
This paper highlights the key benefits that social media platforms have for marketing activities. In this context, it has been highlighted that social media platforms have facilitated targeted advertising to be much easier for marketers. Based on the browsing data, personal interests and other factors like geographic locations, age, profession, etc., modern algorithms can sort users and offer highly precise audience base for the marketers. These marketers can now choose to only communicate with the audiences who are most likely to be interested in the offered product and services. From the marketing perspective, the benefits of social media also lies on the much lower price of advertising. Compared to traditional mediums, social media advertising can be much cheaper and can attract several small businesses. Payment modes like pay per click and pay per impression, allows marketers to pay only for the amount of brand exposure that they want. This as a result has made this platform so much more popular at a global scale.
It has been also mentioned in the paper that being closely associated with consumers have never been easier. Social media can be used to handle customer queries, grudges and even inform them about certain product or service attributes. This makes it also easier to assess the sentiments of the consumers towards a particular product, thereby making it much easier for the company to make amends on a proactive basis. The paper further highlights the concept of eWOM (electronic word of mouth). The idea of eWOM suggests that consumer awareness spreads much faster over the social media platforms, which can be both positive or catastrophically negative for a brand. Positive word of mouth can definitely help a company to improve its sales, but at the same time any negative word of mouth can spread like wildfire, and tarnish the brand image of a company. Therefore, it has been clearly portrayed that social media platforms can have a very significant impact on marketing activities and can prove to be a determining factor behind the success of a company.