If one asks a number of marketing experts about the recent trends in marketing, they will have one option in common- social media! The economies of marketing can be hold responsible for the fad about social media. Social media is making the diversification of Marketing channels much more viable. A major boost to social media can be attributed to the human trends of the society at large. With the digital dependence firmly settling in the psyche of an average person, communication and engagement across social media platforms is at an all time high.
How the social influencers can add that extra edge to your business?
The role of social influencers on business marketing cannot be denied. The retail segment has felt the pinch to amplify their exposure on the online space with the bandwagon of eCommerce. Now, social is playing a massive role in brand augmenting and channeling prospective consumers to the online retail spaces. In this context social media can be deemed as the great leveler. For long internet marketing was a money game with paid searches, email marketing, affiliate marketing, etc coming into play. With social, the upkeep of brand identity and augmenting conversions is made far less strenuous.
A major reason for the effectiveness of social media is the consumers’ inclination towards positive reviews before making a purchasing decision. Research has found that online buyers pay much heed to the community dialogues and reviews in their bid to making a purchasing decision. Niche based social media presence thus certainly helps. Though social media provides a sea of marketing avenues, it is still one of the most underutilized modes of marketing.
The revamped word-of-mouth promotional tool
There was a time when “word-of-mouth” marketing was preferred as the most genuine way to communicate brand identity. In the digital era, social media plays almost the same role by providing the consumers a better platform to engage. Industry insiders estimate at least a 10-20% increase in the social media marketing budgets for the major brands in the coming quarter on 2014. There is a downturn to social media as well. With a deluge of options cropping up every day, businesses have to fixate their strategy to only a handful.
By sheer user base, Facebook, Twitter and Pinterest are clear favorites to find a place in the social media strategies. Facebook officially has 1.11 billion active users per month with 550 million for Twitter and 70 million for Pinterest. And if numbers are anything to go by, the reasons are plenty. Almost 71% of users rely on social media to make purchasing decision. Moreover over 80% rely on the social media posts of their friends as a valid source of reference. With social Media platforms stressing on personalized experiences in recent times, the importance of augmenting social media is paramount.