Untold Facts about Social Media Marketing

According to a study conducted by The E-tailing Group (an e-commerce consulting firm) and PowerReviews (an online customer review firm), Twitter and Facebook have undoubtedly seized the highest adoption rate in the realm of social media marketing, while customer reviews hold the highest ranking for a boost in increased customer engagement and sales.

This has caused numerous retailers and businessmen to rev up their social media marketing in the past 6 months by adopting Twitter and Facebook into their strategies. Out of the 117 respondents in the survey, three-quarters of them admitted to have accelerated their commitment and use of social media in the past half year.

The report dubbed “Community and Social Media Study” was released at an opportune time when companies were looking for breakthroughs that might help them shake off the effects of the economic crunch or the recession if you like, by cutting expenses. Social media marketing has been looked at as a very affordable way to promote various companies’ services and products compared to the basic online advertizing.

Considering that Facebook passed the 300 million mark [of registered members] towards the demise of last year, the customer base potential for retailers wishing to get their brand out there is so diverse.

The report goes on to reveal that 5 out of 10 social media tools reviewed in the study have been implemented by over 50% of retailers and brands in the market. It comes as no shock that the Facebook Fan Page tops the list having an 86% adoption rate.

Although the bulk of marketers prefer using Twitter and Facebook to promote their products, there are other equally good social media that can be implemented in marketing strategies. They include blogs and user or consumer reviews which have a 55% adoption rate by marketers and also viral videos which have been implemented by 50%.

“The intricate combination of social and community networking within e-commerce has reached a near-optimum level and thus is a benchmark that we will be monitoring yearly,” remarked the president of e-tailing group, Lauren Freedman. “Customer engagement in businesses has reached a critical mass and their involvement [via social and community media] or lack of, thereof can mark success or failure.”

What Continues Fueling The Already Stepped-up Pace?

It is a known fact that the chief reason of implementing social media marketing is to boost sales volume. Other than that, avid research discovered that there are three other reasons merchants have embraced this mode of marketing.

# 1 – All merchants want to be seen as trendy and current in their online presence – not obsolete using traditional marketing techniques such as promotional emails.

# 2 – Merchants fear that their clientele may ‘abandon ship’ and go to other e-commerce sites that are more socially engaging.

# 3 – Some want to clear their brand products or services especially if they are being degraded or spoken ill of by consumers or malicious competitors already on the social media sites like Twitter.

Freedman, in a statement predicts that the above named motivators which propelled the final wave of social media adoption will continue to do so in years to come.

Source: e-Tailing Group

5 Easy ways to wet your Feet in Social Media

Brand marketing over the years has seen a tremendous change and growth. In the initial years, you had a local shop that you were loyal to. You knew the shopkeeper who knew you and there was a relationship based on knowledge and trust. After this period, came a time where money was an important factor in decision making and cheaper the goods were, better was the brand loyalty. However, today with the advent of social media marketing, people have once again turned towards personalized marketing of brands.
Web 2.0 marketing experts claim that social media tools help small and big businesses in a large way to create presence on the Internet. These tools help the companies communicate with their customer base and pursue a mutually trusting relationship with their customers. Small businesses can position themselves in the market by making social media submissions and influencing customer decision by positively engaging with the latter.
There are many ways in which social media can be used to successfully promote your business. The five easiest ways are discussed in this article:
1. Creating a dominant profile: The first way is to create a dominant profile on any one of the various social media tools that are available on the Internet. This will help create a commanding presence and increase brand awareness amongst the customer base, which in turn will help people follow your brand. While creating your company profile on these social media tools, it is important to put forth your key characteristics that will help increase your follower base.

2. Participation: Participating in the various events and conversations taking place in such social media sites is the best way to ensure brand loyalty. According to social media experts, engaging in positive conversation with your customers or fan-base by listening and talking to them, is the best way to ensure brand loyalty.

3. Be honest: While engaging in a conversation with your customer base, it is important to be genuine and honest about yourself and your company. “Honesty is the best policy” is an adage that is totally applicable in today’s competitive world. This will help in the long run in building faith, knowledge and standing in society about the company and its products as well as services.

4. Blogging: Web 2.0 marketing experts swear by the blog as one of the easiest way to start using social media tools. Blogging is considered the best way to distribute information about you and invite comments from the readers. Engaging with your readers by writing attractive blogs that create interest will definitely help increase your fan following. Social media experts claim that the quality of your blog in terms of content will ultimately help enhance your brand popularity in the market.

5. Be human while promoting your brand: Finally, you have to attribute some human characteristics to your brand that your customers can relate to and understand. This can be done by identifying specific keywords that describe your brand and personalize it to your customers.

In conclusion, it can be said that the use of social media tools will definitely help in the growth of your business in the long run. However, it is important to identify the best social media tool that you can exploit to your advantage.