The impact of Social Media Marketing is having a tremendous impact on business and market as business growth and performance are taking place at an astronomical rate. Social media helps in developing business tactics. Social media platforms like Facebook, Twitter, LinkedIn, etc., show an opportunity for businesses to grab the attention of the customers while simultaneously building a brand image. These social networks allow businesses to use tactics to build and create brand profiles like fan pages, contests, etc. Through Social media marketing, one can figure out the likes and preferences of customers as well as the latest trends adopted by the public. Social media marketing helps a brand/company to build a strong online presence by innovative social media marketing techniques and customer satisfaction.
Businesses get a better understanding of their customers by allowing them to share their insights, knowing that the brand is listening. Social media allows them to see what potential customer’s opinions are and network with them as well. Social media allows businesses to respond to customer grievances, questions, and concerns almost instantly. Customers want to be assured that, if they have a problem they will receive assistance at the earliest possible time.
When a business is running on a fixed marketing budget, social media is the most cost-efficient way to market and promote the business. Websites like Facebook, Twitter, Pinterest, etc., allow any business to share their content for no cost at all. Hence Social media is an affordable advertising platform. Businesses will always be connecting with the customers in terms of changing preferences, lifestyles, and resources and adapt to the changing interest of the consumers.
Through social media, it is possible to increase brand awareness among customers as businesses can create awareness by building company image. Increased exposure through social media drives traffic to the company. This, in turn, converts potential customers to actual customers.