The generally accepted meaning for social media is “an umbrella term that defines the various activities that integrate technology, social interactions, with the construction of words, pictures, videos and audio files.” Marketing efforts in this space are new to the world and can be done well with clear planning and effort.
As more and more organizations move from traditional media like Radio and TV to the internet and mobile audiences we see social media becoming more and more important. This is primarily based on the time versus where it is spent by target audiences. Radio now streams across the internet and TV delay is available via digital video recorders like Tivo or online staged TV like Hulu.com. We see people having more choice how they get their media and the internet delivers with the most convenience. In the advent of social media activities people are discussing their daily lives in places like Facebook and their opinions of TV shows on Hulu or YouTube.
As organizations review their marketing efforts they continue to see diminishing returns in traditional media and real market penetration is best gained via social media entry. Marketing in this arena is similar to traditional means. However, efforts must gain traction with the audience to grow profitability. In the past, a firm might pay $10,000 for a TV ad to run every Monday at 2:05 pm for 10 weeks. The TV show at that time had 1.2 million viewers so the overall estimated exposure would be 12 million viewers. In today’s social media forays, an ad or coupon might be seen by the corporate websites daily visitors of 10,000 people but then 2,000 of them repost a link or the coupon itself to social media sites like MySpace or Facebook, then reposted by other viewers of the link or coupon. This turns into exponential gains based on the value of the content to its audience. If Mars were to give away a free pack of M&Ms for a week that’d be viral quickly based on the time limit and the perceived large audience that enjoys free candy. If it were Bon Ami offering a free scrubbing pad for dishes it wouldn’t be nearly as popular.
Inside the marketing efforts for social media we find purpose due to its increasing value and growth. We have some primary components to social media marketing efforts that include, but aren’t limited to link baits, viral content and comments. When your staff develops content that appeals to your target audience they’ll spread it for you. When you make it easier for them to spread it with link or sharing tools like “share on Facebook” buttons, they’ll do it more often. Link baits or link tools are what enable the spread of your appealing or viral content. As people post about your content to different social media encourage comments on your site to engage them for feedback about your product, where to buy, discounts available and incentivize them to tell others about your products when applicable. Companies that recognize the market capitalization for realized value will see their revenues grow. This alone clarifies the great importance of social media marketing and working a well thought-out plan.
