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Social media marketing is the use of social media platforms and websites to promote a product or service. Most social media platforms have their own built-in data analytics tools, which enable companies to track the progress, success, and engagement of their ad campaigns. Companies can address a range of stakeholders through social media marketing, including: current and potential customers, current and potential employees, journalists, bloggers, and the general public.
Social networking websites are based on building virtual communities that allow consumers to express their needs, wants, and values, online. Social media marketing then connects these consumers and audiences to businesses that share the same needs, wants, and values. Through social networking sites, companies can keep in touch with individual followers.
To this end, companies make use of platforms such as Facebook, Twitter, YouTube, and Instagram to reach a much wider audience than they can through the use of traditional print, TV, and radio advertisements alone, and at a fraction of the cost. In return, customers can now post reviews of products and services, rate customer service, and ask questions or voice concerns directly to companies through the same platforms. This has changed the ways that companies interact with customers, as a substantial percentage of consumer interactions are now being carried out over online platforms with much higher visibility.
In fact, today, over 80 percent of business executives define social media as important, and over 97 percent of all consumers search for local businesses, online. 25 percent of all mobile phone usage is dedicated to social networks, 75 percent of consumers say they rely on social media to influence their buying decisions, and 47 percent of Americans say that Facebook is their number one influencer of purchases.
Other commonly-used social media platforms include: Google+, LinkedIn, Whatsapp, Yelp, Foursquare, and YouTube. However, there are dozens of new social media platforms popping up all the time, as the use of social media marketing becomes more ubiquitous and sophisticated. Below are a few, lesser known platforms:
• Engagor – a comprehensive platform that helps businesses better engage with their customers in real time, by monitoring conversations about a brand or product across all major social networks, news websites, blogs, and forums.
• SocialCentiv – This self-serve platform lets users comb Twitter for potential customers using highly targeted metrics, such as those in their neighborhood or those seeking their specific product and services.
• HashAtIt.com – Dubbed as “The Social Search Engine,” HashAtIt.com collects status updates, tweets and other posts, allowing users to search for the most popular hashtags on Facebook, Twitter, Instagram, and Pinterest — all in one place.
• Sparksfly – Sparksfly offers meaningful, targeted consumer engagement based on user-generated data.
• Sociota – Sociota is a social network management and monitoring platform offering the ability to integrate multiple Facebook, Twitter, LinkedIn, or Google+ accounts.
• Pushup Social – Pushup Social is a plug-in that lets businesses easily integrate a social network into their existing websites.
• HootSuite – With HootSuite, users can manage multiple social networks, schedule messages and tweets, analyze social media traffic, track conversions, and measure campaign results — all in one user-friendly dashboard.
• LeadSift – LeadSift mines millions of social media conversations, cutting through the noise to deliver relevant, quality leads based on metrics set by users, such as geographic information and keywords.
• SnapRetail – SnapRetail turns the average small business owner into a social media marketing powerhouse with ready-to-use social media content. The service offers a library with thousands of customizable, prewritten social media posts to choose from, eliminating the difficulty of crafting attention-grabbing updates.
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