Social media marketing, or SMM, is a form of internet marketing that involves creating and sharing content on social media networks in order to achieve your marketing and branding goals. Social media marketing includes activities like posting text and image updates, videos, and and other content that drives audience engagement, as well as paid social media advertising.
Small businesses also use social networking sites to develop their own market research on new products and services. By encouraging their customers to give feedback on new product ideas, businesses can gain valuable insights on whether a product may be accepted by their target market enough to merit full production, or not. In addition, customers will feel the company has engaged them in the process of co-creation—the process in which the business uses customer feedback to create or modify a product or service the filling a need of the target market. Such feedback can present in various forms, such as surveys, contests, polls, etc.
The platform of social media is another channel or site that business' and brands must seek to influence the content of. In contrast with pre-Internet marketing, such as TV ads and newspaper ads, in which the marketer controlled all aspects of the ad, with social media, users are free to post comments right below an online ad or an online post by a company about its product. Companies are increasing using their social media strategy as part of their traditional marketing effort using magazines, newspapers, radio advertisements, television advertisements. Since in the 2010s, media consumers are often using multiple platforms at the same time (e.g., surfing the Internet on a tablet while watching a streaming TV show), marketing content needs to be consistent across all platforms, whether traditional or new media. Heath (2006) wrote about the extent of attention businesses should give to their social media sites. It is about finding a balance between frequently posting but not over posting. There is a lot more attention to be paid towards social media sites because people need updates to gain brand recognition. Therefore, a lot more content is need and this can often be unplanned content.
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The code of ethics that is affiliated with traditional marketing can also be applied to social media. However, with social media being so personal and international, there is another list of complications and challenges that come along with being ethical online. With the invention of social media, the marketer no longer has to focus solely on the basic demographics and psychographics given from television and magazines, but now they can see what consumers like to hear from advertisers, how they engage online, and what their needs and wants are. The general concept of being ethical while marking on social network sites is to be honest with the intentions of the campaign, avoid false advertising, be aware of user privacy conditions (which means not using consumers' private information for gain), respect the dignity of persons in the shared online community, and claim responsibility for any mistakes or mishaps that are results of your marketing campaign. Most social network marketers use websites like Facebook and MySpace to try to drive traffic to another website. While it is ethical to use social networking websites to spread a message to people who are genuinely interested, many people game the system with auto-friend adding programs and spam messages and bulletins. Social networking websites are becoming wise to these practices, however, and are effectively weeding out and banning offenders.
Websites such as Delicious, Digg, Slashdot, Diigo, Stumbleupon, and Reddit are popular social bookmarking sites used in social media promotion. Each of these sites is dedicated to the collection, curation, and organization of links to other websites that users deem to be of good quality. This process is "crowdsourced", allowing amateur social media network members to sort and prioritize links by relevance and general category. Due to the large user bases of these websites, any link from one of them to another, the smaller website may in a flash crowd, a sudden surge of interest in the target website. In addition to user-generated promotion, these sites also offer advertisements within individual user communities and categories. Because ads can be placed in designated communities with a very specific target audience and demographic, they have far greater potential for traffic generation than ads selected simply through cookie and browser history. Additionally, some of these websites have also implemented measures to make ads more relevant to users by allowing users to vote on which ones will be shown on pages they frequent. The ability to redirect large volumes of web traffic and target specific, relevant audiences makes social bookmarking sites a valuable asset for social media marketers.
Google's search engine marketing is one of the western world's marketing leaders, while its search engine marketing is its biggest source of profit. Google's search engine providers are clearly ahead of the Yahoo and Bing network. The display of unknown search results is free, while advertisers are willing to pay for each click of the ad in the sponsored search results.
He is the co-founder of Neil Patel Digital. The Wall Street Journal calls him a top influencer on the web, Forbes says he is one of the top 10 marketers, and Entrepreneur Magazine says he created one of the 100 most brilliant companies. Neil is a New York Times bestselling author and was recognized as a top 100 entrepreneur under the age of 30 by President Obama and a top 100 entrepreneur under the age of 35 by the United Nations.
A key benefit of using online channels for marketing a business or product is the ability to measure the impact of any given channel, as well as how visitors acquired through different channels interact with a website or landing page experience. Of the visitors that convert into paying customers, further analysis can be done to determine which channels are most effective at acquiring valuable customers.
This is especially important if you have superiors to which you must report about Internet marketing. Although you may be able to turn data into a strategy easily, reports and graphs are essential in order to communicate that data to people who control the budget. Spend time making comprehensive reports and perhaps making a PowerPoint presentation based on your research.
However, while bidding $1,000 on every keyword and ranking #1 for every relevant search sounds nice in theory, most businesses have to play a balancing game between ranking higher and paying too much for clicks. After all, if it costs $17.56 to rank in position #1, but you can only afford to pay $5.00 per click, bidding $1,000 on a keyword to guarantee yourself the #1 position would be a great way to bid yourself out of business.
Paid search advertising has not been without controversy and the issue of how search engines present advertising on their search result pages has been the target of a series of studies and reports by Consumer Reports WebWatch. The Federal Trade Commission (FTC) also issued a letter in 2002 about the importance of disclosure of paid advertising on search engines, in response to a complaint from Commercial Alert, a consumer advocacy group with ties to Ralph Nader.
Social networking sites such as Facebook, Instagram, Twitter, MySpace etc. have all influenced the buzz of word of mouth marketing. In 1999, Misner said that word-of mouth marketing is, "the world's most effective, yet least understood marketing strategy" (Trusov, Bucklin, & Pauwels, 2009, p. 3). Through the influence of opinion leaders, the increased online "buzz" of "word-of-mouth" marketing that a product, service or companies are experiencing is due to the rise in use of social media and smartphones. Businesses and marketers have noticed that, "a persons behaviour is influenced by many small groups" (Kotler, Burton, Deans, Brown, & Armstrong, 2013, p. 189). These small groups rotate around social networking accounts that are run by influential people (opinion leaders or "thought leaders") who have followers of groups. The types of groups (followers) are called: reference groups (people who know each other either face-to-face or have an indirect influence on a persons attitude or behaviour); membership groups (a person has a direct influence on a person's attitude or behaviour); and aspirational groups (groups which an individual wishes to belong to).
Social media can be used not only as public relations and direct marketing tools but also as communication channels targeting very specific audiences with social media influencers and social media personalities and as effective customer engagement tools. Technologies predating social media, such as broadcast TV and newspapers can also provide advertisers with a fairly targeted audience, given that an ad placed during a sports game broadcast or in the sports section of a newspaper is likely to be read by sports fans. However, social media websites can target niche markets even more precisely. Using digital tools such as Google Adsense, advertisers can target their ads to very specific demographics, such as people who are interested in social entrepreneurship, political activism associated with a particular political party, or video gaming. Google Adsense does this by looking for keywords in social media user's online posts and comments. It would be hard for a TV station or paper-based newspaper to provide ads that are this targeted (though not impossible, as can be seen with "special issue" sections on niche issues, which newspapers can use to sell targeted ads).
In May 2014, Instagram had over 200 million users. The user engagement rate of Instagram was 15 times higher than of Facebook and 25 times higher than that of Twitter. According to Scott Galloway, the founder of L2 and a professor of marketing at New York University's Stern School of Business, latest studies estimate that 93% of prestige brands have an active presence on Instagram and include it in their marketing mix. When it comes to brands and businesses, Instagram's goal is to help companies to reach their respective audiences through captivating imagery in a rich, visual environment. Moreover, Instagram provides a platform where user and company can communicate publicly and directly, making itself an ideal platform for companies to connect with their current and potential customers.
Facebook Ads and other social media ad platforms, for example, are pay-per-click platforms that do not fall under the SEM category. Instead of showing your ads to people who are searching for similar content like search ads do, social media sites introduce your product to people who happen to be just browsing through their feeds. These are two very, very different types of online advertising.