Social media can be used for a number of different reasons by different people. Here’s how you can use these platforms for marketing your company to receive the best possible results.
According to the American Marketing Association (AMA) Board of Directors, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It is basically the action or business of promoting and selling products or services, including market research and advertising.
Traditional forms of marketing include direct mail, print, broadcast, and referrals. However, ever since the advent of the internet and the invention of sites like Facebook, Instagram, and Twitter, a new type of marketing has sprung up. And it is called social media marketing. This is when companies engage in marketing through the means of social media sites like the ones mentioned above.
Sites like Facebook and Twitter never started with the intention of them being used as marketing platforms. They were sites that allowed people to connect with family and friends and share their opinions and life experiences with one another. But soon brands began to realize the impact of having a presence on these sites and how they can act as great platforms for these companies to market themselves.
Today, from big corporations to small startups, every company out there has a social media presence. It has become more of a necessity to survive in today’s market rather than an option. Companies are hurling millions of dollars into advertising on social media and there are dedicated teams and professionals that go over each and every post that is made on these platforms to make sure that the post is enticing and brings in engagements.
91% of retail brands use 2 or more social media channels. 81% of all small and medium businesses use some kind of social media platform. According to a recent study, social media marketing is a $75 billion industry.
The main factor behind the vast use of social media as a marketing platform is the sheer amount of followers that can be found on these sites. There are 3.499 billion active social media users in the world. To put that number into perspective, that is about 42% of the entire Earth’s population!
90.4% of Millennials, 77.5% of Generation X, and 48.2% of Baby Boomers are active social media users.
No matter what type of company you are, what your motives are, what type of products you offer, or what your size is, you are bound to find potential customers on social media platforms.
Another very important fact to consider is that social media users are receptive to social media marketing. 73% of marketers believe that their efforts through social media marketing have been “somewhat effective” or “very effective” for their business. 71% of consumers who have had a positive experience with a brand on social media are likely to recommend the brand to their friends and family.
In conclusion, due to the fact that there are many potential customers on social media platforms that can be targeted and because these customers are receptive to marketing efforts, social media has become one of the main platforms where companies are focusing their marketing efforts and it doesn’t look like this trend will be changing anytime soon.