The rapid proliferation of social media platforms has not only lead to monumental advancements in the ability for individuals to express thoughts and ideas on particular topics and issues while simultaneously reaching a large and diverse target audience, but has also opened a myriad of new pathways which have helped navigate and ultimately enabled businesses to enhance their current marketing strategies.
Here are 5 examples illustrating the influences of social media on marketing.
Data analytical tools
With the implementation of 3rd party data analytical tools within the social media monitoring process, businesses both small and large can now actively refine large sets of data which enables them to track growth within certain products and services, content performance, substantial engagement within their specified target market and aggregate campaign analysis (via recording tag posts, comment trends, likes and shares)
Digitization of media
As the societal shift from traditional media to digital media becomes ever more prevalent within our domain, so does the viability for social media networking platforms to play a beneficial role in not only reaching a target market or audience but promoting ‘2-way content’ meaning brands must facilitate reasons as to why consumers will want to purchase their product and/or service.
Direct conversational terminology
Businesses have a vested interest in ensuring their customers are satisfied with their product and/or service, constructive criticism and more specifically being able response to such criticism is a valuable asset. This is simply because now not only is the affected consumer aware that the business considers his or her input valuable ( or at the very least creates the illusion that they do), those on that particular comment section looking in externally will realise the same. The ability to mitigate as much brand damage with instantaneous responsiveness is pivotal to ensuring a business does not crumble under negative publicity.
Whenever your business is mentioned anywhere via social media whether it be through likes, shares, hashtags etc; you’ll be instantly notified. This function only stimulates healthier interactions between the brand and the consumer.
Product and Service creation
Consumers can now have an active role in the allocation of resources and investment in regards to what product or service an organisation should pursue, this could be done via a simple social media poll.