Social Media Marketing

Taf Khan

Final Project

What is Social Media Marketing?

The new form of marketing where companies use the help of social networking sites such as Facebook, Twitter, LinkedIn etc. to promote their products and connect with their consumers.

This trend is becoming very popular day by day and a lot of big names are becoming part of the social media marketing.

How Social Marketing Works.• Social media is a very useful tool

today for marketers because a lot of research is being done based on how many times a product of some brad gets likes, shares, comments and re-tweets.

• Lipsman, Mudd, Rich, & Bruich (2012) states that one way to promote an event or place is via the “Like” button and marketers will share the name of the person who likes a place, event, or celebrities to his/her friends list to get more likes or shares from others.

Social Advertising• Many companies are now

starting to spend huge amounts on social advertising today than any other form of media.

• According to eMarketers pegs, they have estimated that by the end of 2013, $4.1 billion will be spent on creating ads for social media marketing alone. (Cooper, 2013).

Why Market Through Social Media?

This is an inexpensive way to promote his/her business and to keep new and existing customers talk about your business. (Belew & Elad, 2013).

A new comer in the business field might not have enough on his or her budget to make billboard, T.V., or web ads, therefore by creating a page using social networking sites, he/she can connect with people and promote his business.

• Unlike Facebook, Twitter, and LinkedIn, marketing with YouTube is a slightly different and it does cost a low fee, not just for promoting a business, but also for

getting equipment for filming, editing etc.• To promote an ad of any kind of business in YouTube, the company will have to pay

a fee of $10, via Virool website, which will promote and upload your ads to YouTube. • Companies also have the option to promote through YouTube, with also a fee of $10,

but they will not charge the company unless someone clicks on the ad to watch it.

Marketing Through YouTube

Other ways social media helps to market.• Movie studios, book publishers,

museums, politicians etc. can also take advantage of this platform.

• Studios and publishing houses along with politicians use this format to reach out to the audience.

• Sometimes they will organize events where people can interact with the actors, politicians, authors via live tweets or Facebook chat to promote their latest movie, books, and among other work. This helps boost the image and business of what the companies are trying to sell.

Customer Relationship in Social Media Marketing

It is very important to always keep consumers updated with what the company is up to, when their next even will be, talk about something that got a lot of attention in the past etc.

An easy way of connecting with customer is get their feedback instantly by asking what they want to see change, what they like about the company or a certain product, etc.

Have them share their experiences and stories about a product or the company itself. (Coca-Cola and Walt Disney Co. are an expert at this strategy).

Things like this will let you know what consumers think about the company and what they like or do not like about it.

Un-Ethical Methods of Social Media Marketing• Did you know Facebook can

track down all your information without you knowing and use them for marketing research purposes?

• “Whenever someone clicks on the “Like” button, his/her preference is not just shared with friends and your profile, but also with Facebook’s servers which provides feedback to it’s advertisers.” (Marr, 2013).

Social Media Marketing Overall

Inexpensive way to promote business via social networking sites

Easiest and fastest way to connect to millions of people across the globe

A new platform in the market field which is now being used by almost all major big companies and small ones as well.

References:

Cooper, M. (5, 2013 March). Social advertising. $4 billion well spent?. Retrieved from http://socialmediatoday.com/mark-cooper/1277846/social-advertising-money-well-spent

Marr, Bernard (2, 2013 May). How Facebook Exploits Your Private Information. Retrieved fromhttp://www.linkedin.com/today/post/article/20130502052254-64875646-how-facebook-exploits-your-private-information?trk=mp-reader-card

Salo, J., Lankinen, M., & Mäntymäki, M. (2013). The Use of Social Media for Artist Marketing: Music Industry Perspectives and Consumer Motivations. JMM: The International Journal On Media Management, 15(1), 23-41. doi:10.1080/14241277.2012.755682

Lipsman, A., Mud, G., Rich, M., & Bruich, S. (2012). The Power of "Like": How Brands Reach (and Influence) Fans Through Social-Media Marketing. Journal Of Advertising Research, 52(1), 40-52. doi:10.2501/JAR-52-1-040-052

Lester, D. H. (2012). Social Media: Changing Advertising Education. Online Journal Of Communication & Media Technologies, 2(1), 116-125.

References continued:

Delo, C., & McDermott, J. (2013). Your phone's home screen is Facebook's new ad playground. Advertising Age, 84(14), 0006.

 Belew, S., & Elad, J. (2013). Using social media to promote your business. Retrieved from http://www.dummies.com/how-to/content/using-social-media-to-promote-your-business.html

McNicholas, K. (2011, September 19). How to use social media to promote your small business. Retrieved from http://www.forbes.com/sites/kymmcnicholas/2011/09/19/how-to-use-social-media-to-promote-your-small-business/

Houssem. (2012, September 18). 5 large companies that consider social media a must. Retrieved from http://www.hqsocialmedia.com/5-large-companies-that-consider-social-media-a-must/