Social media is a rapidly growing trend used by companies everywhere to interact with their consumers and increase sales. Social media is similar to the concept of the old television commercial, but instead of watching something entertaining on the small TV screen you are actually communicating with millions of people. While the terms digital and e-commerce marketing are now dominant in academic research, social media marketing has slowly become more acceptable for researchers and practitioners. The following article attempts to define the term, explore the impact it has had on the online marketplace, and give some recommendations for those new to the world of social media marketing.
While the term social media marketing may sound strange, it actually refers to a number of platforms that allow internet marketers to reach clients through their websites. There are currently hundreds of different social media websites, each designed for a particular audience. Many marketers use these sites as a way to share information about their products, services, company news, and events.
Marketing research shows that there is a strong connection between the popularity of a product and the amount of sales that it receives. This is why a successful social media marketing strategy can be the difference between success and failure. An effective social media marketing strategy allows a marketer to leverage the websites full potential by creating an engaging content, providing insightful articles that are interesting, and providing access to other valuable resources such as press releases, videos, and podcasts. Each of these sites has distinct features that make them attractive to potential customers, and by utilizing all of these features a marketer can greatly expand a company’s customer base.
One of the most common mistakes made by new social media marketing strategies is not targeting the appropriate audience. It is important to identify your audience so that you can properly advertise your product. For example, a dog lover in Boston should be advertising to dog lovers in the Midwest. Marketers must take time to properly target their audience to ensure that the content they provide on their site is representative of their business. If a marketer is unable to properly identify their target audience then their site will fail to gain the attention of visitors.
Another mistake is not using social media marketing to track the results of their marketing efforts. A good way to judge the success of a marketing campaign is to track the conversion rate. Conversion rate is the percentage of visitors who have made a purchase. By tracking this statistic, a marketer can quickly see which pages of their site are the most successful and can make changes to their page to encourage more traffic. By measuring the conversion rate, marketers can determine which marketing tactics are producing the best results and can make adjustments on their site.
When conducting analytics on a social media management plan it is important to ensure that all of the relevant metrics are being used. Metrics such as click-through rate (CTR), open rate, and page views are good to track because they are generally considered measure types of engagement. If a company is not capturing information about these metrics they may not be capturing enough data to gauge their strategy’s effectiveness. Another way to improve CTR’s is to make sure that users are clicking on the link to the advertiser’s website, not just going straight to the advertisers own site. Another metric that should be tracked is the ratio of calls to clicks. This ratio measures how often users are calling the advertiser for assistance versus just browsing the advertisers site.
It is also important to take advantage of the opportunities that social media marketing provides. By taking advantage of the social media platforms a brand can get more website traffic and brand awareness. Branding online is a competitive arena, and by creating a social media presence that is representative of the brand they are engaging with customers on a more personal level. Tracking metrics on the brand’s website will give a marketer insight into how well their brand is doing online.
A social media marketing campaign should be a part of a brand’s online strategy. Social media management offers a brand several ways to connect with consumers on an individual level. The tools provided make it easy for businesses to increase website traffic and brand awareness while simultaneously increasing profitability. When a brand combines these tools with an effective social media management strategy they are ensuring their business’ success.