Because it appeared quickly, social media has developed a reputation by some for being a passing marketing interest, and therefore, an unprofitable one. The statistics, however, illustrate a different picture. According to Hubspot, 92% of marketers in 2014 claimed that social media marketing was important for their business, with 80% indicating their efforts increased traffic to their websites. And according to Social Media Examiner, 97% of marketers are currently participating in social media—but 85% of participants aren’t sure what social media tools are the best to use.
Social networks are, in many cases, viewed as a great tool for avoiding costly market research. They are known for providing a short, fast, and direct way to reach an audience through a person who is widely known. For example, an athlete who gets endorsed by a sporting goods company also brings their support base of millions of people who are interested in what they do or how they play and now they want to be a part of this athlete through their endorsements with that particular company. At one point consumers would visit stores to view their products with famous athletes, but now you can view a famous athlete's, such as Cristiano Ronaldo, latest apparel online with the click of a button. He advertises them to you directly through his Twitter, Instagram, and FaceBook accounts.
We love paid social advertising because it's a highly cost-effective way to expand your reach. If you play your cards right, you can get your content and offers in front of a huge audience at a very low cost. Most social media platforms offer incredibly granular targeting capabilities, allowing you to focus your budget on exactly the types of people that are most likely to be interested in your business. Below are some tips and resources for getting started with paid social media marketing:
Website saturation and popularity, or how much presence a website has on search engines, can be analyzed through the number of pages of the site that are indexed by search engines (saturation) and how many backlinks the site has (popularity). It requires pages to contain keywords people are looking for and ensure that they rank high enough in search engine rankings. Most search engines include some form of link popularity in their ranking algorithms. The following are major tools measuring various aspects of saturation and link popularity: Link Popularity, Top 10 Google Analysis, and Marketleap's Link Popularity and Search Engine Saturation.
Since social media marketing first came to be, strategists and markets have been getting smarter and more careful with the way they go about collecting information and distributing advertisements. With the presence of data collecting companies, there is no longer a need to target specific audiences. This can be seen as a large ethical gray area. For many users, this is a breach of privacy, but there are no laws that prevent these companies from using the information provided on their websites. Companies like Equifax, Inc., TransUnion Corp, and LexisNexis Group thrive on collecting and sharing personal information of social media users. In 2012, Facebook purchased information from 70 million households from a third party company called Datalogix. Facebook later revealed that they purchased the information in order to create a more efficient advertising service.
5. Higher Brand Authority. Interacting with your customers regularly is a show of good faith for other customers. When people go to compliment or brag about a product or service, they turn to social media. And when they post your brand name, new audience members will want to follow you for updates. The more people that are talking about you on social media, the more valuable and authoritative your brand will seem to new users. Not to mention, if you can interact with major influencers on Twitter or other social networks, your visible authority and reach will skyrocket.
Often the line between pay per click advertising and paid inclusion is debatable. Some have lobbied for any paid listings to be labeled as an advertisement, while defenders insist they are not actually ads since the webmasters do not control the content of the listing, its ranking, or even whether it is shown to any users. Another advantage of paid inclusion is that it allows site owners to specify particular schedules for crawling pages. In the general case, one has no control as to when their page will be crawled or added to a search engine index. Paid inclusion proves to be particularly useful for cases where pages are dynamically generated and frequently modified.
Small businesses also use social networking sites as a promotional technique. Businesses can follow individuals social networking site uses in the local area and advertise specials and deals. These can be exclusive and in the form of "get a free drink with a copy of this tweet". This type of message encourages other locals to follow the business on the sites in order to obtain the promotional deal. In the process, the business is getting seen and promoting itself (brand visibility).
Yelp consists of a comprehensive online index of business profiles. Businesses are searchable by location, similar to Yellow Pages. The website is operational in seven different countries, including the United States and Canada. Business account holders are allowed to create, share, and edit business profiles. They may post information such as the business location, contact information, pictures, and service information. The website further allows individuals to write, post reviews about businesses, and rate them on a five-point scale. Messaging and talk features are further made available for general members of the website, serving to guide thoughts and opinions.
Social media marketing provides organizations with a way to connect with their customers. However, organizations must protect their information as well as closely watch comments and concerns on the social media they use. A flash poll done on 1225 IT executives from 33 countries revealed that social media mishaps caused organizations a combined $4.3 million in damages in 2010. The top three social media incidents an organization faced during the previous year included employees sharing too much information in public forums, loss or exposure of confidential information, and increased exposure to litigation. Due to the viral nature of the Internet, a mistake by a single employee has in some cases shown to result in devastating consequences for organizations. An example of a social media mishap includes designer Kenneth Cole's Twitter mishap in 2011. When Kenneth Cole tweeted, "Millions are in uproar in #Cairo. Rumor has they heard our new spring collection is now available online at [Kenneth Cole's website]". This reference to the 2011 Egyptian revolution drew an objection from the public; it was widely objected to on the Internet. Kenneth Cole realized his mistake shortly after and responded with a statement apologizing for the tweet.
Social networking websites are based on building virtual communities that allow consumers to express their needs, wants and values, online. Social media marketing then connects these consumers and audiences to businesses that share the same needs, wants, and values. Through social networking sites, companies can keep in touch with individual followers. This personal interaction can instill a feeling of loyalty into followers and potential customers. Also, by choosing whom to follow on these sites, products can reach a very narrow target audience. Social networking sites also include much information about what products and services prospective clients might be interested in. Through the use of new semantic analysis technologies, marketers can detect buying signals, such as content shared by people and questions posted online. An understanding of buying signals can help sales people target relevant prospects and marketers run micro-targeted campaigns.