Social Media: An Essential Marketing Channel

social media

It is almost unfathomable that a business would not have a social media presence in this day and age. Whether it is a small corner store or large multinational corporation, a social media presence has become an essential marketing, sales and support channel. However, many small to medium businesses still do not leverage the power of social media while others use it solely for customer support without the marketing and sales component.

Marketing From Start To Finish

Social media should first and foremost be seen as a marketing channel. It can spread your message quickly and with minimal cost across a broad spectrum of users, even beyond your follower base. Utilizing its full capacity means coming back to the basics of online media, namely that content is king.

Whether its your a message about your own product, the industry, related technology or social and environmental issues relevant to your customer base, your social media presence needs to be marked with daily content across a spectrum of topics. It is not just about relevance. Frequency of publishing content is equally important if not more so at times.

Your social media presence should be defined by target market that you want to attract, the followers you currently have and the customers that you want to retain. These are key aspects that need to be factored into any social media marketing campaign.

Ultimately your social media stream over time will mirror new developments, challenges and changes that occur in your every day business operations.

Revisiting Marketing Through Social Media

Social media marketing is not solely based on the 4 P’s of traditional marketing, namely price, product, placement and promotion. To engage a customer online and specifically through a channel like social media requires insights into the target market’s interests beyond just your product and brand.

Marketing is about advertising one’s product and brand, but also about creating awareness among consumers about the industry and product-relevant issues that can impact on them. By utilizing this approach of creating awareness and not just advertising, a business will find that their social media following can grow organically.

This type of approach was previously only reserved for the larger corporations with a media spend that allowed for content to extend beyond the business, product and brand. However, with social media being affordable, smaller businesses can now leverage social networks with a similar approach.

It is important to remember that the consumer is also a person influenced by a range of factors, from geographical location and religious persuasion, to political affiliation and financial implications. A well-structured social media marketing campaign will target the person and not just the consumer of your product or user of your service.

 

 

Idea Incubators Could Spur Online Innovation

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There is some degree of repetition when it comes to the latest tech hype. It is no longer about new ideas but rather about reworked innovations. In the rare cases when an entirely new idea progresses to an innovation, the market is resistant to its emergence. In a business world where profitability is often the first consideration, the encouragement of new ideas is not always as forthcoming as we would like to think. Ultimately it impedes aspiring entrepreneurs with new ideas who can never find their footing in starting a viable business.
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