Due to the impact of social media, the relationship between brands and consumers have changed a lot. Nowadays, companies create strategies after they analyze and understand the target consumer’s demands, likes and dislikes through Social Media. Social media has had a major effect on the world and business. Starting from an MNC or a small startup, everyone is adopting Social Media Marketing to make their brand or services visible.
Earlier traditional marketing mediums such as radio, TV commercials and print ads were very costly mediums. But now, through Social media marketing, companies or brands can connect with their target customers for free, the only cost is time. Using social media platforms like Facebook, Twitter, LinkedIn etc., you can lower your marketing costs.
Social Media Marketing is having a tremendous impact on business and market as business growth and performance are taking place at an astronomical rate. Social media helps in developing business tactics. Social media platforms like Facebook, Twitter, LinkedIn etc., show an opportunity for businesses to grab the attention of the customers while simultaneously building a brand image. These social networks allow businesses to use tactics to build and create brand profiles like fan pages, contests etc. Through Social media marketing, one can figure out the likes and preferences of customers as well as the latest trends adopted by the public. Social media marketing helps a brand/company to build a strong online presence by innovative social media marketing techniques and customer satisfaction.
Social media has countless benefits some of them are:
Businesses get a better understanding of their customers by allowing them to share their insights, knowing that the brand is listening. Social media allows them to see what potential customer’s opinions are and network with them as well.
Social media allows businesses to respond to customer grievances, questions, and concerns almost instantly. Customers want to be assured that, if they have a problem they will receive assistance at the earliest possible time.
When a business is running on a fixed marketing budget, social media is the most cost-efficient way to market and promote the business. Websites like Facebook, Twitter, Pinterest etc., allow any business to share their content for no cost at all. Hence Social media is an affordable advertising platform.
Businesses will always be connecting with the customers in terms of changing preferences, lifestyles, and resources and adapt to the changing interest of the consumers.
Through social media, it is possible to increase brand awareness among customers as businesses can create awareness by building company image.
Increased exposure through social media drives traffic to the company. This, in turn, converts potential customers to actual customers.
Some of the major social media platforms are:
Real life case studies showing the impact of Social Media Marketing
Case Study of Shari Academy
Shari Academy is a photography school which conducts workshops and provide certificate courses. Shari Academy wanted to promote their presence online, but they had some budget issues, so they decided to use Facebook and a blog to meet the twin objectives of branding and business. They created a Facebook page “Photography Tips” and worked on it. Now Photography Tips has more than 1.3 million fans and it is one of the biggest photography communities on Facebook. The Shari blog gets approx. 30,000 visitors per month.
Case Study of Nando’s
Nando’s was opening its new restaurant in Bangalore in late 2010. In order to get more people to the restaurant, they launched the discount offer that was “Peri-Peri discount offer”. They announced on their Facebook Page that fans would get a special discount if they tell them when they plan to visit Nando’s and with whom. In this offer, friends have to be tagged and if up to 6 friends are tagged, the group would get a 15% discount on the bill. If more than 6 friends are tagged, the group gets a 25% discount on the bill. Because of this promotion, lots of groups visited Nando’s and got discounts. The largest group that availed themselves of this “Peri-Peri discount” was a group of 25 friends.
Case Study of DID-2(Dance India Dance)
DID is a famous dancing show and they wanted to promote their new season that was DID-2. They wanted to build online engagement through targeted platforms and sustain that engagement until the last season. So, first, they built their Facebook fan page for Dance India Dance -2 and on Twitter they did live tweets from the DID sets. After two months there was a massive increase in likes and comments on the Facebook Page. Given below are the stats of the DID-2 Facebook Fan page: