A lot has been transfixed since man discovered fire. We have come a long way from hunting for food to having food being delivered at our doorsteps. Because of the increase in Globalization, people around the globe who have similar interests can connect and even quench their thirst for knowledge. This world of networking has constantly been improving by its affordable cost and by its business marketing strategy. Hence, Social media marketing is a relatively new concept and is here to revolutionize the traditional form of marketing.
Impact and how did it all start? – Communication is one of the key elements to understanding the world. The more you communicate, the more you grow. The more you are influenced, the more you tend to inspire. Similarly, social media has impacted people from their personal life to their business life. The business world has positively been praised by social media marketing. A marketing tool that helps to attract customers helps in brand awareness and upgrades the overall organization. Due to this, one can learn about various companies, what they have to offer, and even understand their target market.
With every progressive concept of the Internet, there are several merits of social media marketing, that are –
- Customer satisfaction – As said above, communication helps in the growth of the business. This a place where a customer can voice out their opinions or their queries, and they would be given a response which is not an automated response but a legitimate response that acknowledges them as well as their needs. This type of marketing puts customers first, and this shows how attentive one is towards their customers.
- Brand awareness – With the huge widespread of online platforms, one can gain new and highly potential consumers’ targets. The ability to connect and humanize with people helps to build trust and helps to shape the company. This also has a direct relationship with sales.
With every merit, there are a couple of demerits of social media marketing, that is –
- Negative review – Social media is a platform that is out and opens. People can express their thoughts, some good, some bad. At times, if a customer isn’t satisfied with your business, they may leave a negative review that impacts the company. When a customer survey report gets filled, at times, one can leave you a 1-star review, and that can hinder the path of your success.
- Competition – Social media acts as a goldmine to various valuable information, which one can gain access to. They can observe you, can understand the target market and revenue profits, and can even access the tools that help you attract customers; since there is transparency, one can even copy and act by unfair means.