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.
One of the main purposes of employing social media in marketing is as a communications tool that makes the companies accessible to those interested in their product and makes them visible to those who have no knowledge of their products. These companies use social media to create buzz, and learn from and target customers. It's the only form of marketing that can finger consumers at each and every stage of the consumer decision journey. Marketing through social media has other benefits as well. Of the top 10 factors that correlate with a strong Google organic search, seven are social media dependent. This means that if brands are less or non-active on social media, they tend to show up less on Google searches. While platforms such as Twitter, Facebook, and Google+ have a larger number of monthly users, the visual media sharing based mobile platforms, however, garner a higher interaction rate in comparison and have registered the fastest growth and have changed the ways in which consumers engage with brand content. Instagram has an interaction rate of 1.46% with an average of 130 million users monthly as opposed to Twitter which has a .03% interaction rate with an average of 210 million monthly users. Unlike traditional media that are often cost-prohibitive to many companies, a social media strategy does not require astronomical budgeting.
There are many reasons explaining why advertisers choose the SEM strategy. First, creating a SEM account is easy and can build traffic quickly based on the degree of competition. The shopper who uses the search engine to find information tends to trust and focus on the links showed in the results pages. However, a large number of online sellers do not buy search engine optimization to obtain higher ranking lists of search results, but prefer paid links. A growing number of online publishers are allowing search engines such as Google to crawl content on their pages and place relevant ads on it. From an online seller's point of view, this is an extension of the payment settlement and an additional incentive to invest in paid advertising projects. Therefore, it is virtually impossible for advertisers with limited budgets to maintain the highest rankings in the increasingly competitive search market.
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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.
Online marketing can also be crowded and competitive. Although the opportunities to provide goods and services in both local and far-reaching markets is empowering, the competition can be significant. Companies investing in online marketing may find visitors’ attention is difficult to capture due to the number of business also marketing their products and services online. Marketers must develop a balance of building a unique value proposition (UVP) and brand voice as they test and build marketing campaigns on various channels.
Popular social media such as Facebook, Twitter, LinkedIn, and other social networks can provide marketers with a hard number of how large their audience is nevertheless a large audience may not always translate into a large sales volumes. Therefore, an effective SMM cannot be measured by a large audience but rather by vigorous audience activity such as social shares, re-tweets etc.
Paid inclusion is a search engine marketing method in itself, but also a tool of search engine optimization, since experts and firms can test out different approaches to improving ranking and see the results often within a couple of days, instead of waiting weeks or months. Knowledge gained this way can be used to optimize other web pages, without paying the search engine company.
This involves tracking the volume of visits, leads, and customers to a website from the individual social channel. Google Analytics is a free tool that shows the behavior and other information, such as demographics and device type used, of website visitors from social networks. This and other commercial offers can aid marketers in choosing the most effective social networks and social media marketing activities.
Master strategic marketing concepts and tools to address brand communication in a digital world. This Specialization explores several aspects of the new digital marketing environment, including topics such as digital marketing analytics, search engine optimization, social media marketing, and 3D Printing. When you complete the Digital Marketing Specialization you will have a richer understanding of the foundations of the new digital marketing landscape and acquire a new set of stories, concepts, and tools to help you digitally create, distribute, promote and price products and services. In 2016, this was one of the top 10 specializations in terms of enrollments. INC Magazine rated the first course, Marketing in a Digital World, as one of The 10 Hottest Online Classes for Professionals in 2015. In addition, this course was also ranked in the top five courses across multiple MOOC providers. Finally, the Digital Marketing Certificate was the top coveted certificate on Coursera in 2015. Get more updates on the specialization at http://digitalmarketingprofs.com/ This Specialization is part of the University of Illinois Masters of Business Administration degree program, the iMBA. Learn more about the admission into the program here.