SOCIAL MEDIA MARKETING
Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still the dominant terms in academia, social media marketing is becoming more popular both amongst practitioners and researchers. Most social media platforms have their own built-in data analytics tools, which enable companies to track the progress, success, and engagement of ad campaigns.
The model includes the following steps:
- Selection of the potential social networks to use;
Setting out a financial plan (regarding hiring social media brand managers or consultants).
- Designing or modifying organizational structures to manage the social network in the companies' market (this may involve adding a social media unit to an existing marketing branch or creating a new social media branch).
- Selection of target market(s).
- Selection of the products, services, brand(s) or company messages which will be promoted;
- Performance measures for the social media strategy such as evaluation, data analytics, etc.
- Social networking websites allow individuals, businesses and other organizations to interact with one another and build relationships and communities online.
- That interaction can be more personal to users than traditional methods of outbound marketing and advertising.
- Social media marketing then connects these consumers and audiences to businesses that share the same needs, wants, and values.