In: Economics
1) The techniques of selling that we apply today heavily rely on the infamous four P’s of marketing: product, price, place, and promotion. The social media marketing may look different than traditional marketing in a big approach as it is all about the fourth P: promotion. The world is changing, and technology is taking the lead; and social media is today the new arena of integrated marketing communications.
Social media, such as YouTube, Facebook and Twitter, are changing how people build share information, relationships, and make the decisions in everyday lives. It has brought a whole new approach of marketing to the world of business. One of the best reasons for a business to do marketing through social media is that the customers are spending time on these websites therefore the targeted consumers will be more receptive to the messages when marketing through social media. It assists to target and retarget ideal consumers. Also the social media marketing is cost-efficient compared to traditional marketing.
The social networking Web site allows users to create personal profiles with information such as their educational background, hometowns, work, favorite things, and religious affiliation. It uses that power to assist other companies target very specific audiences with personalized messages. The social media has created the platform where customer can discuss the product and vendor also grabs opportunity to spread its brand awareness. The social networking Web site fulfills the customer as well as seller's desire to communicate and interact with each
2) An increment in number of mobile users compared to the users of desktop is main reasons to include mobile technologies in strategies of business on social media. The widespread smart mobile devices adoption has lead to wider connectivity. Today majority of consumers are purchasing products and services on their mobiles. The marketing content can be easily shared among mobile users, increase awareness and streams of revenue. Mobile app lays a strong platform for purchasing, selling, and other services. It allows sharing video, image, text, audio; slideshow can be send to customers for a better interaction with them. Moreover it allows conditioning business. The tactical strength provides the entrepreneur the benefit of geo-location and sending location-specific messages to users; with the usage of Bluetooth technology and GPS thus can enhancing the business