There’s little doubt that technology has changed our lives, the way we are influenced and how we influence others. But for marketing, it’s more than just doing the same old thing using new tools. To begin with it is not just another way of marketing or just another tool, but rather promises a paradigm shift in the way to occupy a place in the minds of the customers. Since its inception there are several phases and time test that SM marketing has gone through. The strategies that are used for traditional media will not make you very popular on social media platforms.
Social media marketing is the way to use that technology to build relationships, drive repeat business and attract new customers through friends sharing with friends. social media marketing is really just word-of-mouth powered by technology.
According to Constant Contact’s 2011 Small Business Attitudes & Outlook Survey, 73% of small businesses & organizations have started using social media marketing and 62% of those not using it expect to start marketing through social media within the next 12 months.
75% of people are somewhat or highly likely to share content they like online with friends, co-workers or family—49% do this at least weekly.
Source: Chadwick Martin Bailey Consumer Pulse 2010
Traditionally, we’ve prioritized our limited resources and time on trying to find and convert new prospects (the top of the funnel).Keeping those hard-earned customers (the bottom of the funnel) has often been an afterthought. That’s because, until recently, there was little we could do to keep existing customers that was drastically different from the tactics used to attract new ones. Historically, the best you could do after turning a prospect into a customer was to provide a great customer experience and just hope they come back to buy more and bring their friends with them.
But technology, namely social media and email, has changed the game.
Social Media Marketing is about recognizing that your existing customers are your best assets. And technology now enables us to influence consumer behaviour both before and after the sale. With low-cost and easy-to-use tools like social media and email, you no longer have to hope that customers come back and bring their friends with them. Now you can reach out to your existing customers to remind them to come back, and make word-of-mouth as easy as clicking the share, like, or tweet buttons. Bottom line: successful businesses understand that marketing does not end with the sale, but rather it begins after the first sale (the bottom of the traditional sales funnel).
Social media marketing is not a replacement for other marketing tactics and we highly recommend that you continue to do what has worked for you in the past. Traditional marketing activities that still work for you, like advertising in a newspaper, sending direct mail and attending networking events, are still essential. However, for most, social media marketing is now a critical component of an effective marketing strategy. In fact, social media marketing works best when combined with other marketing activities, especially email marketing.