Social Media and Marketing - Essay Example

? WORD THEORY ASSIGNMENT By Table of Contents Table of Contents 2 Introduction 3 Social Media and MarketingStrategies 4 Social Media and Communication with Customer Base 6 Handling of Feedback from Customer Base 7 Online chats 8 Pros and Cons 9 Conclusion 13 Word Theory Assignment Social Media and Marketing Introduction The value of social media in marketing corresponds with its capacity to create virtual communication communities that cut across the bounds of time and space. Today companies are harnessing the power of social media such as Face book and Twitter to market themselves to audiences that might have not been reached easily through the traditional forms of communication (Zarrella, 2009, p. 54; Zhivov, Scheepers & Stockdale, 2011, p. 1). Academic inquiries into the power of social media in communication has indicated a growing preference of social media as replacement of traditional forms of communication such as mobile telephone communication, the use of e-mails, letter writing, and some forms of internet-based communication. It might be necessary to appraise the power of social media in terms of the kind of synergies that have been brought into the discourse of marketing. The advantages range from the time factor, cost of operation, to convenience and other aspects of communication (Zarrella, 2009, p. 164; Zhivov, Scheepers & Stockdale, 2011). However, some experts have established that the effectiveness of social media is highly dependent on various factors such as timing and the target groups. Studies conducted on the use of social media have shown that there are demographic variations in the manner in which the virtual communities use the internet resource. Matters of age, race, gender, religion, personality, and others determine the demographic variables. These demographic variables determine the trends of usage, the kind of interests in the usage, and the levels of connections. Equally, the levels of education, social status, and geographical reasons have also been shown to affect the manner in which social media is used by different people. Exploiting the opportunities availed by social media for the purposes of communication and marketing require a balance of the various factors that relate to its usage. Some businesses have been able to harness the power of social media for effective marketing while others have faced various challenges in the process. According to some marketing experts, the type of business determines the appropriateness of the marketing strategy. However, studies have shown that both the service sector and the products sector have adopted social media marketing to enhance their reach to the client base. Social Media and Marketing Strategies Businesses across the world are increasingly turning to social media as an efficient and cost-effective marketing strategy (Tuten & Solomon, 2012, p. 91). Different businesses have developed varying strategies of using social media for the purposes of marketing. According to some communication experts, the type of reach of social media to vast audiences is determined by the way in which companies package the marketing message. The choice of language and use of graphic illustrations have been shown as some of the ways that affect the effectiveness of social media marketing. The kind of language used in marketing determines the kind of audience that will be attracted by the advertisement (Tuten & Solomon, 2012). Social media has created a community that is defined by a special kind of language. The language varies from the standard forms in the sense that it defines the standard forms and structures of language. There is a casual sense in the language that enables some ease of communication among those who subscribe to it. The effectiveness of communication is highly dependent on the ability of the company to adopt this language and use it appropriately to achieve its marketing objectives. Marketing and advertisement often targets the conscious and subconscious minds of the target audience (Macy & Thompson, 2010, p. 203). Basically, the levels of success are determined by the psychological impacts created on the minds of the consumers. Choosing one form of language over the other may have the effect of locking out other groups that do not endorse this kind of language. As a result, some companies have sought to engage in various forms of languages that suit the tastes and preferences of some given audiences. As a result, marketing of products meant for the youth will tend to adopt some form of vocabulary that is particularly pleasant to the youthful communities. Similarly, the marketing of products meant for women may require the adoption of particularly feminine language in order to capture the attention of the affected group. Studies on the impact of communication to youthful groups have shown that the art of communication determines the duration of interest that the message will have on the audiences (Macy & Thompson, 2010; Brown, 2012). Enhancing the effectiveness of social media marketing has often involved the incorporation of attractive images, pictures and illustrations that help to capture the interest of the target groups. Companies often hire the services of internet graphic experts to develop the kind of products and images that help to reinforce the message of the products. Businesses that trade in sportswear may use illustrations of shoes, sporting jumpers, and other sports accessories accompanied with various illustrations that back up the messages. Similarly, car dealers have often used a vast range of car models to help the targeted audiences in making decisions about the products. Businesses that deal in beauty products, real estate, electronics, kitchenware, and pharmaceuticals have also used the social media for purposes of effective marketing. This kind of marketing allows the companies to engage with their clientele in a more informed and resourceful manner. According to some communication analysts, it is generally easier to engage in social media marketing because of the factor of flexibility (Brown, 2012). For instance, it is easier to change and update the content of the adverts occasionally without necessarily incurring expenses. Social Media and Communication with Customer Base In many ways, social media marketing has changed the ways that companies communicate with their customer base. For instance, companies have increasingly adopted forms of communication that allow for the ease of feedback with their clientele. The use of Face book in communication is one of the ways that illustrate the manner in which social media has altered the aspect of communication. Precisely, companies and businesses open a Face book fan page that allows an interactive platform between them and the targeted audiences (Berkley, 2009). This virtual communication platform gives the companies and businesses the opportunity to learn more about the market in terms of preferences, tastes, and any changes in the trends. It may also help the companies to understand the sentiments of the wider public about their products or services. Usually, by analysing the numeric strength of the customer base, it is easy for the companies to determine its strength within a given market segment (Berkley, 2009). On this score, the companies may tend to develop products that respond appropriately with the preferences of the market. For instance, the clientele may express views on matters of size, colour, and distribution of a certain products, which help the companies and businesses to adjust their operational mechanisms. On this score, communication between the company and the market helps the companies in the processes of decision-making. One advantage brought about by this revised form of communication is the time factor (Hollensen, 2009, p. 90). In a corporate environment where performance is pegged on time, the effect of social media in time management enables the meeting of targets in ways that impact positively on growth and profitability. Traditional forms of business communications were based on assumptions of the businesses about preferences and tastes of the clientele. Companies and businesses also depended on studies and researches on the market. Research on the markets also involved surveys and questionnaires, which were presented to different groups. Logistically, these methods were challenging and involved lengthy and cumbersome processes (Hollensen, 2009). The studies were also affected by the usual assumptions and weaknesses that are resident in these kinds of studies. For instance, there were assumptions that the numbers of respondents in the studies were a representative sample of the whole community. By their very nature, traditional methods of market surveys could not reach large groups of respondents. On the other hand, social media can unite vast audiences within a limited space of time. There are no limits to the number of respondents who can take part in a study conducted through social media. Usually, the social media membership involves some details about demographic details. Some users have tended to favour Twitter over Face book in terms of the accuracy of the details supplied by the subscribers (Hollensen, 2009). There is often an enhanced form of efficiency in using social media owing to its capacity for speed and reduced costs. Although concerns have been raised over the aspect of control on the kind of information supplied by social media, many studies have tended have shown that social media provides one of the best resources of engaging with the markets on close and interactive terms. Handling of Feedback from Customer Base The interactive nature of social media marketing requires that companies and businesses develop ways and strategies of handling the feedbacks from the customers. A system of feedbacks would encourage the growth of a useful connection between the customers and the companies. Studies on communication have argued that interactive and two-way systems of communication allow companies to cultivate a culture of fidelity between itself and the clientele (Agresta, Bough & Miletsky, 2010). The retention of the customer base is significantly determined by the way in which the business handles the kind of responses presented by the customers. Customers feel appreciated when they know that their opinions and responses are being handled in a serious manner. Feedback is organized and handled by different companies through various ways. Companies such as Lucie Campbell Jewellery have developed data bases where the information received from the clientele is harnessed, processed and organized in order to determine trends and preferences (Agresta, Bough & Miletsky, 2010). The particular information, requests, inquiries of the customers is processes so that the customers receive specific answers that appropriately address the matter at hand. Such a system allows the company to develop the most appropriate systems that addresses the individual concerns of the customers. According to studies in business communication, efficient systems reduce the amount of time taken between the relaying of customer concerns and feedbacks (Newlands, 2011: Treadaway & Smith, 2012). On this score, social media marketing allows the businesses to respond faster to the concerns of the clients in order to help them make informed decisions on the products. For instance, it has often been argued that the establishment of interactive systems of communication is necessary in enhancing the confidence of the customer in the product or service. In the long term, it also helps in the development of some positive association between the customer base and the brand, which eventually leads to the development of the brand image of the business or company. Online chats Many companies have adopted the use of interactive online chat session to handle the feedbacks from their clients. Usually customer care agents or representatives are tasked with observing the kind information, inquiries, suggestions, and other matters that are raised by the clientele. The customer care agents usually manage the online chat sessions either remotely or within the organization. The very nature of social media marketing has enabled remote management of these chat sessions by contracted experts. Within the context of outsourcing, many companies have preferred to engage the services of business solutions firms to manage the customer feedback systems on their behalf. After receiving this kind of information, the customer care representatives then respond to them in a timely and resourceful manner. The value of chat sessions should be comprehended from the perspective of live sessions that allow the business and the customer to engage each other in a more flexible and responsive manner. Pros and Cons Social media marketing has brought into the business world various advantages and some notable challenges. This kind of marketing has reduced the costs of communication since the internet-based communication systems are generally cheaper when compared to the conventional forms of marketing communications. Social media communication reduces the budgetary allocation on marketing (Treadaway & Smith, 2012). Many companies incur heavy marketing expenses through paid up advertisements in their efforts to impact on the customer base. Compared to television, newspaper, and radio advertisement, social media communication is much cheaper and has a longer lasting impact. Sustaining the impact of social media communication is relatively cheaper than other forms of communication that attract higher budgetary allocations. Trends in marketing have established that companies and businesses have developed preferences for social media as a way of enhancing their connection with the markets (Treadaway & Smith, 2012, p. 72)). Another advantage of social media might be examined from the perspective of frequency. Television and radio adverts usually operate during designated intervals of time. There is a limit to the amount of time allocated for marketing purposes. An advert may appear during prime time or in the course of some programs. Prime time schedules and popular programs are limited in the sense that they cannot accommodate the demand of the rapidly expanding corporate market. As a result of the limited slots in the advertisement schedules, marketing and advertisement costs have risen sharply hence eating into the profits of many businesses and companies. This explains the growing preference of companies towards social media advertisement and marketing. Success and performance of businesses is highly dependent on the aspect of cutting on costs. Social media provides one of the best strategies of regulating the costs of marketing in ways that are responsive to the general goals of the firms. However, marketing strategists have argued that the adoption of combined marketing strategies is more effective than using one major type of marketing. Every marketing strategy, according to these strategists has its own merits and demerits. Studies have shown that more people use the social media than other forms of media (Treadaway & Smith, 2012). These findings have been backed by rapid developments in the information and technology sector. The developments in the information technology sector have brought in its wake various devices that enable easy access to the internet resource by the general public, which comprises the customer base. The development of hi-tech mobile phones, for instance has made it possible for people to access the internet during the flexible schedules of their time. The customer base is largely controlled by the aspect of socialization as understood within the framework of social media communication. The internet has enabled fast and easy flow of communication enabling the connection between people and institutions across vast areas of geographical space. In a sense, the internet has enabled the compression between time and space such that realities and processes within certain geographical locations and time zones are felt or accessed in different places. This has provided additional synergies to the processes of marketing and advertisement. Internet-based communication has created larger pools of the clientele, which has enhanced the growth of the various processes that determine the levels of success in marketing. The effectiveness of social media marketing has also flourished within the discourse of globalization. The elimination of traditional boundaries has enabled the process of marketing precisely through the discourses of globalization and liberalization. The competitive advantage of internet-based marketing could also be analyzed within the aspect of creativity. In the current global corporate climate, the ability of companies and businesses to develop marketing products determines their position on the market. The ability to develop products that appeal to the customer base determines the levels of success of the company’s marketing strategies. Although many companies adopt the use of social media for the purposes of marketing research has indicated that many other face challenges related to appropriateness and the manner of packaging. Naturally, the success of a marketing strategy or system is also dependent on the operational climate in which a particular business operates. Sometimes, the operational climate may be fraught with various challenges that affect the stability and general development of businesses or companies. However, studies have shown that this kind of influences have more adverse effects on conventional forms of marketing than on the kind of marketing that operates within the framework of social media. Policy matters are more likely to affect conventional forms of marketing than social media marketing. This reality is to be explained through the difficulty associated with policing the internet. In this sense social media marketing makes it possible for companies to circumvent some of the logistical, policy, and structural challenges that affect the current markets. According to some studies, it is easier for an existing business to break into a new market niche by social media than by using other forms of traditional media (Zhivov, Scheepers & Stockdale, 2011, p. 5). Generally, the very nature of social media allows access to unlimited geographical areas and different time zones. By using this advantage a business can develop the most appropriate strategies to gain inroads into new markets. The same methods could also be used for the purposes of conducting marketing analyses of the targeted markets. Case reviews have shown that many businesses have sought to expand their presence through engaging in marketing processes that are anchored on social media. Technology firms have established new market segments by advertising their products on social media. Face book and Twitter have become the virtual terrain that determines the trends in marketing in the global marketing environment (Zhivov, Scheepers & Stockdale, 2011, p. 1). Past forms of marketing often considered the clientele as a passive class or group that could be controlled through general means. However, the development of social media has provided opportunities for personal engagement between the business and the individual. The development of virtual communication environments has undoubtedly impacted on the discourse of marketing. Scenarios for the future indicate at possibilities of social media conversion into the dominant forms of communication and marketing. The determined shift from the traditional forms of communication will be made more preferable through the continuing innovations in the field of information technology. However, the challenge of lack of controls on the virtual communication platform remains a major concern due to the fact that it exposes the companies and businesses to the vulnerability of competitors and detractors (Zhivov, Scheepers & Stockdale, 2011, p. 4). For instance, competitors may invade and manipulate the social media site of a given company or businesses with the view of supplying misleading information about some aspects of the company. Equally, it is not entirely possible for the company to shield the confidence between itself and the market from the glimpse of the competitors. Therefore, it becomes possible for the competitors to use the acquired information for the purposes of sabotage or other ways that are inimical to the interests of the affected company. An appraisal of the resident dangers in social media communication could be conducted along the lines of the natural dangers often associated with internet-based ways of communication. As an evolving resource of business communication, the social media involves various challenges and opportunities. Efficiency and effectiveness of marketing involves the kind of strategies that utilize the opportunities of the system while suppressing the negative aspects. Conclusion Social media has emerged as one of the most preferred resources for marketing. Various factors ranging from globalization to the development of internet technology are associated with this development. Using social media such as Twitter and Face book, companies and businesses are able to attract and retain clients by engaging in close and personal contacts and correspondence with them. Further, companies and businesses have been able to open up new market segments by appropriating the advantages of the cyberspace. Other benefits of social media marketing include lesser costs and time management. The creative use of social media marketing determines the levels of success. Social media has levelled the world of corporate competition by availing the same kinds of marketing opportunities regardless of the size of the business. Studies have indicated that there are variations in the use of social media across various demographic variables. Comparative analyses show that social media is more effective, in various respects, than the traditional forms of marketing such as newspapers, television, radio, or road show campaigns. However, the use of social media for the purposes of marketing could be more enhanced through the complementary support of the conventional means of marketing. This would allow for the capturing of sections of the market that may not be necessarily affected or reached through social media marketing. Works Cited Agresta, S, Bough, B, B & Miletsky, J, I 2010, Perspectives on Social Media Marketing, Course Technology, New York. Berkley, H 2009, Marketing in the New Media, Self-Counsel Press, Incorporated, New York. Brown, E 2012, Working the Crowd: Social Media Marketing for Business, The Chartered Institute, London. Hollensen, S 2009, Essentials of Global Marketing, Pearson Education, New York. 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