Social Media and Internet Marketing Essay Example for Free

Social Media and Internet Marketing Essay Social media, although a relatively recent phenomenon, is becoming an Increasingly important part of any business’s marketing and client base development platform. According to Dragon, â€Å"The perception of social media marketing has shifted quickly no longer viewed as a trendy or passing fad, having a flexible and well-managed presence in each of the â€Å"big three† (Facebook, Twitter, and Google+) has become a must for any business seeking to secure a place in both the traditional and digital marketplace† (pg. 103). What could once be accomplished by a traditional website now needs to be supplemented by a robust and responsive utilization of the tools social media offers. Finding ways in this strange new world can be quite confusing at first but these are lessons most of today’s marketing businesses have to learn. Social media is changing the ways of traditional network marketing, to increase sales, marketing businesses have to connect with customers and join their conversations on social media sites. So even though social media marketing takes time to learn and use, social media has changed the way business is done today. Social media is changing the ways of network marketing Social media is not just a powerful tool that lets friends and family communicate, it also can be used to help market a business or product. Social media marketing as it is referred to is helping and fuelling the growing online platform of buying and selling. Many network-marketing businesses think they know what their customers want, but until they do a bit of research and discover what they want, it is just guess work. The power of social media can help network marketing businesses keep in touch with their customers and determine exactly what they want, simply by reading, capturing, and using the comments the customers make on social media sites. This new approach to marketing can help to expand and explode the marketing of products to target what customers want, and exactly when they want it. Chase and Knebl (2011) opined, â€Å"The Internet is the greatest communication tool of all time. For sales people, it is also the ultimate game changer. Past technological changes have all been improvements like voice mail, which were easily adaptable to the existing landscape, whereas the Internet is not. Over the past 15 years, it has completely taken over the way in which people get and exchange information. Over the past 5 years, it has completely taken over in which people socialize with one another. And now – right now, social networking is taking over B2B communication. Like it or not, social networking sites are completely, and permanently, redefining the way sales people find new customers† (p.p. 3 4). How marketing was managed and operated for businesses before has changed with the advent of the Internet. Traditional network marketing methods versus today’s social media marketing The traditional selling (marketing) use of the telephone is increasingly becoming obsolete as a business communication tool. The majority of business- to-business (B2B) correspondence now occurs through e-mail, simply because online communication is vastly superior to telephone as a means of sharing information. According to Chase and Knebl (2011), â€Å"The Internet has created fundamental shifts in the B2B marketplace that are driving the future of the selling profession. They require all of us who wish to sell successfully in the new marketplace to accept these changes, recognize the inherent opportunities that they offer, and become educated in the new skills needed to acquire new customers† (p. 4). In order to be efficient in marketing, it is important to realize what will work and what marketing methods are not working any more. For example, if the target market is a senior market, a yellow page ad may very well still bring in customers, but if the customers are under the age of 60, it is best to put marketing resources elsewhere. We have seen many changes to the trends and methods of marketing just over the last few years and these changes are continuing. Some of the trends and methods to watch closely according to Lake (2012) are Mobile Marketing In a report done by CTIA Wireless Association it was reported that 250+ million Americans carry mobile phones thats over 80% of the nation’s population. Mobile applications will continue to be developed and smart phones and tablet PCs will remain a part of our daily lives. Social Marketing Integration In 2011 companies began to take social media marketing seriously and because of that we saw social media explode as a marketing tool. This year we will begin to see companies heavily integrate social media into their overall marketing plan, which is how it should have been done in the first place, but better late than never. We will see social media expand from a tool used primarily for customer service and brand management to being used to collect customer data and enable better target marketing of products and services that those customers are interested. Traditional Marketing Continues to Diminishes This is always a touchy subject, because there are so many that dont want to say goodbye to the traditional marketing. Interactive or real-time marketing is easy to measure, engage and gain real time statistics that allows us to change a marketing message quickly. Customers are continuing to go online to search for information and in return making their purchases online. Its important that marketers move their marketing dollars to where the consumers are and right now thats making a gigantic shift to online. Internet marketing enables us to reach targeted audiences online, advertising costs are lower and they are easier to measure. Whats not to love about interactive marketing? Overall marketing budgets will continue to shift to a higher spend online and the traditional marketing spend will continue to diminish. Relationships will Drive Loyalty and Sales Customers want to know they matter to you and your staff. They evaluate now more than ever how they are treated, whether or not your business cares about their satisfaction. Gone are the days that they just purchase out of convenience. If you can give the best customer care, you will find that you will create consumers that are loyal to you, regardless of whether or not you have the least expensive price. They realize that in tough economic times their loyalty to you could be the life or death of your business and thats often why they will go out of their way to spend their hard-earned dollars in your place of business if you have helped in creating loyalty by giving them extraordinary care. Social media helping to promote and market businesses and products Millions of people uses social media sites such as Facebook and Twitter each day to stay up-to-date with their favorite brands and businesses. More than ever, it is important for business owners to ensure that their marketing strategies include some social media activities. Social media offers new ways to connect with current and potential customers, build online presence and also help develop long-lasting relationships with other business professionals and future contacts, Lovett (2011) made some interesting findings in his book: Social media has unquestionably entered the mainstream as consumers flock to jump on every social bandwagon, buggy, and freight train that drives past. This frenzied enthusiasm has helped the largest social networks to amass hundreds of thousands of users that rival the world’s most populous countries, while new platforms and channels emerge unabated. The early sparks of social media innovations have flourished into a raging inferno of opportunity for consumers and businesses alike. These businesses include everyone from the largest global fortune 100 to the smallest mom-and-pop shop, who are winning and losing everyday with social media. The losers are detached from their customers because they are unable to hear the outpouring of ideas and feedback over the drone of their antiquated toiling. Conversely, the winners are tapping into consumers’ needs and wants and suing social media as a method to: * Increase brand exposure * Initiate dialogue with customer * Generate interaction with their own media * Facilitate customer support * Assemble legions of loyal advocates * Spur corporate innovation * Do much, much more. (p.p. 3 4) In closing, for marketing businesses in the next decade, it will become increasingly important to monitor their brands and reputations online and to be aware of what is being said as well as do any damage control and address any issues that arise in a timely if not immediate fashion. Businesses can no longer hide behind the four walls; it is not enough to broadcast anymore. To succeed with marketing, it will be necessary to interact, engage, and create relationships to grow marketing businesses and create an effective marketing strategy in the next decade. We have seen millions attracted to social media. People are interacting and engaging daily with other individuals as well as with businesses. This will not slow down. It is believed that over the next decade one will see changes in the social media marketing platforms as well as the social media networking sites that are used. It is important to realize that when using social media in your marketing strategy, it must be remembered that it is about interaction, and not just about broadcasting. You need to create a social media marketing strategy that engages and cultivates relationships as well as solves any problems or issues that come up. Reference Lake, L. (2012). MoneyMarketingMarketing MethodsMarketing Methods and Trends Whats New for 2012. Retrieved from http://marketing.about.com/od/marketingmethods/a/marketing-methods-and-trends-whats-new-for-2012 Chase, L., Knebl, K. (2011). The Social Media Sales Revolution (1st ed.). Washington, DC: McGraw-Hill. Dragon, R. (2012). Social Marketology (1st ed.). New York, NY: McGraw-Hill. Lovett, J. (2011). Social Media Metrics Secrets (1st ed.).Indianapolis, IN: Wiley Publishing, Inc..