Social Media & Change in Marketing
Social Media & Social Networking is growing rapidly and it has impacted many sectors including the world of marketing. The relationship between the brand and consumer has changed significantly because of social media. As the social developed continuously, they become important pieces of online architecture and experience that reshape the way brand connect with their consumers, but social media has changed the marketing and more and more marketing operations integrating social media as a key element.
Consumers now are no longer passive and there is a new expectation of quick desire when it comes to finding, searching and having information. Today everyone actively use social media on day to day basis, which consequently increase the opportunity for marketers to establish and cultivate sales relationships with consumers. Traditional methods of marketing such as print media, television and radio etc seems like distant or impersonal and is not enough and social media is a great tool and can be used as a powerful advertising platform. The game has changed now and marketers have had to adapt to the new ways. Companies have started giving preference to online marketing. Many brands are choosing social media as a mainstream platform to communicate with their consumers. Social Media has provided a way for marketers to reach potentially huge audiences, build and grow brand awareness. This is why it has become important for marketers to change the way they view their customer base.
In traditional marketing, the methods used are only able to offer a one-way channel of communication. But things have changed now consumers also have voice and social media can provide Two-way channel of communication to Brands as well as consumers. Brands have to speak their customer’s language to understand what they are saying and communicating with them. Nowadays, whenever a brand shares any posts, marketers are able to receive feedback about their products or strategies almost immediately.
A lot of companies see social media as a double-edged sword: the advantage is connecting and building relationships with consumers; And the disadvantage is handling negative remarks. When it comes to sharing, not all posts or comments will be positive; there will be negative comments also. But marketers may feel the urge to delete negative comments, but it’s more important to respond to them immediately. Removing bad comments is not the way out, in fact, it is crucial to reconnect with the specific people writing the bad reviews – immediately.
Conventional advertising channel have experienced major setback. The way consumers receive information has changed and brands are evolving at the same time. People still read news but they just go digitally. Consumers are reading news and viewing pictures on mobile devices within social media apps. The whole world of marketing had gone digital. Even in the advertising traditional advertising is still there but brands today focus more on digital platforms for advertising.
CMO Role Evolution
As marketing becomes social, the role of the CMO, inevitably, has changed drastically. Customer experiences need to evolve to include social media marketing. It is vital to get in touch with the customers in person, to push businesses forward. Customer engagement and experience are crucial aspects for the businesses and CMO plays an important role in these various marketing strategies.
Social media serves four purposes: acquiring new customers, client engagement, customer care and social listening. Anytime your business is mentioned anywhere on the Web, you will hear about it instantly, showing social media has flipped the interaction between consumers and brands. Previously, when a brand wanted to get customer’s feedback or opinions, it had to conduct surveys. In this digital revolutionary era, the communication on social media is real-time. But social media is not only a communication tool, but also an important listening tool. Listening to the customers and direct interaction to them on social media has definitely helped businesses.
“Social Media Engagement” it’s a phase that generates a lot of buzz. Companies are integrating social media into their PR and Marketing strategies. In social media, specifically the ability to engage with stakeholders has changed PR and Marketing. Because of social media companies have changed their marketing campaigns.
Foundation of Data
All across the web, Internet users are “liking” and following brands, leaving reviews and posting comments, thereby creating a massive amount of data points from which marketers can learn. Developing the engagement campaigns on a foundation of consumer-behavior data helps companies. Brands have to think about the two “buckets” of metrics: behavioral and diagnostic. Behavioral includes everything from shares to sales, while diagnostic metrics are more tools specific.
Understanding of Consumer’s Need
A foundation element of social media revolves around conversations. Online conversation follows the same patterns as “offline” conversations-it requires both talking and listening. If brands are always talking, they’re not listening, and if they’re not listening, they won’t understand the consumer’s needs. Companies have to focus on the consumer’s needs, rather than their brand’s desires. By monitoring online conversations about businesses brand, industry, product or related services, it can strengthen product development, customer service and different core business functions as well.
Interact directly with Target Communities
Before social media, companies relied on traditional PR, marketing and advertising to deliver messages to the target customers, but most Often, a “middle man” (such as a newspaper reporter) ultimately determined what was written or said. These mediums also lacked a mechanism to collect immediate feedback and real-time interactions from the target consumers. This ability to bypass mediums and interacting directly with consumers and communities is one of the important aspects of social media. Social media lets us identify the people we need to talk to, and the people we want to talk to. It gives us the chance to build and maintain the relations we have with our consumers. It helps communicators to be more efficient, responsive, helpful and resourceful.
Monitor and Measure simultaneously
Companies shouldn’t expect to generate overnight results via social media. After all, building and activating a network takes time. Communicators should take advantage of real-time feedback. Monitor online feedback and conversations, it will a give a great opportunity to maintain a level of control. If something’s wrong, then they can fix it right away.
The value of utilizing major social media networks is in their ability to closely connect a company to its audience of current and potential customers. These platforms are customer relationship management tools, and are allowing brands to converse with their audience in a more personal way, which if done right, results is a wider reach and presence online. One thing is certain that Social media communication is here to stay and the companies that stay on top of the social media marketing revolution are the ones that will thrive in the changing marketplace.