There have been many great technological developments which have changed the world, but few have had the impact that social media platforms have had. The most popular of these platforms (Facebook, Whatsapp, YouTube, Instagram and Twitter) all have a total combined reach of ~two to three billion unique users. Never before in human history have so many people from locations around the globe been plugged into and so closely connected on one type of platform. The marketing possibilities are endless.
The rise of the Internet has changed the environment for marketing and advertising. No longer is the situation ‘buyer beware’ but it is now ‘seller beware’ due to an 180-degree shift in the information asymmetry. Available information on the internet plus social media platforms has given buyers access to tons of information. Therefore reviews and other comments that would have been made by previous purchasers are easily accessed, and the companies without any footprint or those with a poor reputation would be left behind.
What Does Your Ideal Buyer Want?
Knowing your ideal customer’s persona and their journey will dictate how you can position each sale. Social media platforms allow for quick, easy and wide spread access to your customer base. If your business has a savvy social media manager, the questions of what do you want, and how can I sell it to you can be asked and answered via surveys, comments, and other supporting information which can be purchased from many platforms.
[pullquote]Many of these platforms are continuously gathering information on personal tastes and preferences.[/pullquote] They are also using specialized algorithms to make connections about what a person will like in ways that were previously unexplored. Thanks to the willingness of most customers, social media companies can populate a person’s page with advertisements specifically created for them based on the information they willingly provided. Knowing your buyer allows for the specialized content creation and the business can then create on and offline advertisements that will directly cause consumers to spend.
Controlling The Public Image
Most content produced has one aim, and that is to go viral. Content, in this case, means posted articles, advertisements, and responses to customer comments. Imagine being seen by millions around the world essentially for free. Any piece of content has the potential to go viral as well; all it takes is the right timing and placement. 67% of users will reach out via a social media platform; each response is a chance to leave a stunning mark. If your social media management team can respond promptly (i.e. in less than an hour), you will automatically build public trust.
There have been many cases where a customer left an off the cuff comment, and the company responded delighting the customer, creating content for themselves, and it went viral. Here are a few examples of how this can create good will and allow you the owner to shape the public image you want other existing and potential customers to see.
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Benefits Of Social Media Marketing For Businesses
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