Benefits of social media marketing
- Allows companies to promote themselves to large, diverse audiences that could not be reached through traditional marketing such as phone and email based advertising.
- Marketing on most social media platforms comes at little to no cost- making it accessible to virtually any size business.
- Accommodates personalized and direct marketing that targets specific demographics and markets.
- Companies can engage with customers directly, allowing them to obtain feedback and resolve issues almost immediately.
- Ideal environment for a company to conduct market research.
- Can be used as a means of obtaining information about competitors and boost competitive advantage.
- Social platforms can be used to promote brand events, deals, and news.
- Platforms can also be used to offer incentives in the form of loyalty points and discounts.
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Cross-platform measurement: The number of marketing channels continues to expand, as measurement practices are growing in complexity. A cross-platform view must be used to unify audience measurement and media planning. Market researchers need to understand how the Omni-channel affects consumer's behavior, although when advertisements are on a consumer's device this does not get measured. Television and radio industries are the electronic media, which competes with digital and other technological advertising. Yet television advertising is not directly competing with online digital advertising due to being able to cross platform with digital technology. Radio also gains power through cross platforms, in online streaming content. Television and radio continue to persuade and affect the audience, across multiple platforms
Another element, which is affected by digital marketing, is ‘viewability’ or whether the ad was actually seen by the consumer. Many ads are not seen by a consumer and may never reach the right demographic segment.
Digital Marketing Channels are systems based on the Internet that can create, accelerate, and transmit product value from producer to a consumer terminal, through digital networks. As an advertiser one's core objective is to find channels which result in maximum two-way communication and a better overall ROI for the brand.
Affiliate marketing - allows the brand to market towards smaller publishers and websites with smaller traffic. Brands that choose to use this marketing often should beware of such risks involved and look to associate with affiliates in which rules are laid down between the parties involved to assure and minimize the risk involved.
Display advertising - As the term implies, online display advertising deals with showcasing promotional messages or ideas to the consumer on the internet. This includes a wide range of advertisements like advertising blogs, networks, interstitial ads, contextual data, ads on search engines, classified or dynamic advertisements, etc. The method can target specific audience tuning in from different types of locals to view a particular advertisement, the variations can be found as the most productive element of this method.
Email marketing - in comparison to other forms of digital marketing is considered cheap; it is also a way to rapidly communicate a message such as their value proposition to existing or potential customers. therefore the success of email marketing is reliant on using graphics/visuals that are relevant to the message which is attempting to be sent, to be applied with initial emails are more effective in-turn creating a relatively personal feel to the email. In terms of language, the style is the main factor in determining how captivating the email is. Using a casual tone invokes a warmer and gentle and inviting feel to the email in comparison to a formal style. For combinations; it's suggested that to maximize effectiveness; using no graphics/visual alongside casual language. In contrast, using no visual appeal and a formal language style is seen as the least effective method.
Search engine marketing - (SEM) is a form of Internet marketing that involves the promotion of websites by increasing their visibility in search engine results pages (SERPs) primarily through paid advertising. SEM may incorporate Search engine optimization, which adjusts or rewrites website content and site architecture to achieve a higher ranking in search engine results pages to enhance pay per click (PPC) listings.
Social Media Marketing - The term 'Digital Marketing' has a number of marketing facets as it supports different channels used in and among these, comes the Social Media. When we use social media channels ( Facebook, Twitter, Pinterest, Instagram, Google+, etc.) to market a product or service, the strategy is called Social Media Marketing. It is a procedure wherein strategies are made and executed to draw in traffic for a website or to gain the attention of buyers over the web using different social media platforms.
Social networking service - is an online platform which people use to build social networks or social relations with other people who share similar personal or career interests, activities, backgrounds or real-life connections
In-game advertising - is defined as the "inclusion of products or brands within a digital game. "The game allows brands or products to place ads within their game, either in a subtle manner or in the form of an advertisement banner. There are many factors that exist in whether brands are successful in the advertising of their brand/product, these being: Type of game, technical platform, 3-D and 4-D technology, game genre, congruity of brand and game, prominence of advertising within the game. Individual factors consist of attitudes towards placement advertisements, game involvement, product involvement, flow, or entertainment. The attitude towards the advertising also takes into account not only the message shown but also the attitude towards the game.
Dependent on how enjoyable the game is will determine how the brand is perceived In terms of Integrated Marketing Communication "integration of advertising in digital games into the general advertising, communication, and marketing strategy of the firm" is important as it results in a more clarity about the brand/product and creates a larger overall effect.
Online public relations - The use of the internet to communicate with both potential and current customers in the public realm.
Video advertising - This type of advertising in terms of digital/online means are advertisements that play on online videos e.g. YouTube videos. This type of marketing has seen an increase in popularity over time.
Online Video Advertising usually consists of three types: The main advantage of video advertising is that it disrupts the viewing experience of the video and therefore there is a difficulty in attempting to avoid them. How a consumer interacts with online video advertising can come down to three stages: Pre attention, attention, and behavioral decision.
These online advertisements give the brand/business options and choices. These consist of length, position, adjacent video content which all directly affect the effectiveness of the produced advertisement time, these variables will yield different results. The length of the advertisement has shown to affect memorability where-as a longer duration resulted in increased brand recognition. This type of advertising, due to its nature of interruption of the viewer, it is likely that the consumer may feel as if their experience is being interrupted or invaded, creating negative perception of the brand.
These advertisements are also available to be shared by the viewers, adding to the attractiveness of this platform. Sharing these videos can be equated to the online version of word by mouth marketing, extending number of people reached. Sharing videos creates six different outcomes: these being "pleasure, affection, inclusion, escape, relaxation, and control". As well, videos that have entertainment value are more likely to be shared, yet pleasure is the strongest motivator to pass videos on. Creating a ‘viral’ trend from a mass amount of a brand advertisement can maximize the outcome of an online video advert whether it be positive or a negative outcome.
Native Advertising - This involves the placement of paid content that replicates the look, feel, and oftentimes, the voice of a platform's existing content. It is most effective when used on digital platforms like websites, newsletters, and social media.
Content Marketing - This is an approach to marketing that focuses on gaining and retaining customers by offering helpful content to customers that improves the buying experience and creates brand awareness. A brand may use this approach to hold a customer’s attention with the goal of influencing potential purchase decisions.
Sponsored Content - This utilizes content created and paid for by a brand to promote a specific product or service.
Inbound Marketing- a market strategy that involves using content as a means to attract customers to a brand or product. Requires extensive research into the behaviors, interests, and habits of the brand's target market.
It is important for a firm to reach out to consumers and create a two-way communication model, as digital marketing allows consumers to give back feedback to the firm on a community-based site or straight directly to the firm via email. Firms should seek this long term communication relationship by using multiple forms of channels and using promotional strategies related to their target consumer as well as word-of-mouth marketing.
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.
Source: https://en.wikipedia.org/wiki/Marketing Image: Pexels