Social Media Impact on Marketing: Comprehensive Case Study 2023
Social media marketing impact has now become a topic of concern for all companies. Social media has become a dynamic platform for marketing due to high brand disclosure and initiates great payback on investment and expenditure. Whereas more than 3 billion people are looking over social media content, it provides favorable circumstances and a never-ending opportunity for brands and businesses to sponsor products and services using social media.
Social media marketing has beneficial impacts on business. It offers an opportunity for the public to find out exactly what they want from social media. Through social media marketing companies can reach their targeted audience. They can stay in touch with the customers, address their queries anytime.
Significance of Social Media nowadays
Social media is fundamentally based on internet or cell phone-based applications and tools to share particulars among people. The number of social media users is more than the number of citizens of some of the countries today. The social media marketing impact can be determined by differentiating marketing before social media and marketing after the initiation of social media and the type of technologies used in social media.
How social media impact marketing strategy
Social media is aiming to bridge the gap between marketers and consumers through persistent dialogue, strengthening trust, and dealing with the right audience in the right way, as fast as possible. It facilitates conversation and connection among people. It comprises popular networking websites, like Facebook and Twitter; as well as Bookmarking sites like Digg or Reedit and uses web page technology.
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Role of social media users to modify the strategy
At first social media may have activated for social engagement,
but the sales and trading value soon became evident and it has become the marketer’s new best friend too. As social media use becomes favored and the number of social media users has increased, marketers have had to seriously modify their game plan to make this move in the media landscape into account. The industry is reworking its conventional strategies and reconstructing the basic campaigning structure.
Social Media- A Bridge between Marketers and Consumers
With the presence of Social Media, the association between brands and consumers has changed significantly. Present-day, companies formulate a plan of action after analyzing the choice, demands, desire, and aversion of the target audience through social media. Social media has become the heart of the business. Companies, whether multinational or small start-up, everyone is inclined to Social Media Marketing Strategy to mark their brand name or services noticeable.
Why Social media’s impact on marketing is more customer-friendly?
Preliminary traditional marketing channels of communications such as radio, TV commercials, and print ads were very high-prized mediums. But presently Social media marketing has given wide opportunities to companies or brands to interact with their target customers without any charges, the only value is time. Mainly social media platforms like Facebook, Twitter, LinkedIn aids in decreasing marketing costs.
Social media impact on Marketing-A key to success in Business
It is a fact that Social media helps in flourishing business tactics and helps the companies to sustain for a longer period. Social media platforms are fruitful in drawing the attention of their target audience and at the same time creating a trustworthy, quality image of the same in the market. It is undeniable that social networks are the ways to channelize various business strategies by creating brand profiles like fan pages, contests, etc. Social Media seems to be a way to discover the likes and dislikes of the target audiences more profoundly and at the same time, it guides the companies to adopt the latest trends preferred by the mass. In short, social media plays a major role in making a strong online presence for any brand/company.
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Social Media Today
Nowadays Social media today is applied mainly in three practical domain of marketing:
3. Public Relation
Social Media has become a medium for more or less all the companies to showcase their plus factors, promote their brand name and products, research about competitive companies to add on extra spices, and overall to get in touch with their target audiences 24/7. Therefore it is patent to allure the marketers towards social media. Traditional campaigning procedures are obscured not only due to the initiation of social media but also due to the failure to create an outstanding promotional move due to a very competitive market. The issue lies with the change in the consumer’s outlook. A social network as a whole is a way of active involvement, instant access to anyone, and never-ending communication.
Social Media: Platforms and Use
A truly social Site is defined using “likes,”, “shares”, “posts”, “tweets, and content. Its use is not only limited to the youth but also it is omnipresent and deep-seated in every corner of the network. The output is astonishing: 72 % of total internet users are now active on Social Media (as per Bullas, 2014). 89 % of people ranging from 18 to 29 use Social Media. 82 % of people between 30 to 49 are using Social Media. 65 % of people ranging from 50 to 64-year-olds use Social Media, while 65+ years are also 49 percent active users (as per Pew Research, 2014). It is quite evident that social media and its usefulness are open for all regardless of their age, people are now spending a good amount of time on Social Media, endlessly sharing, scanning, and browsing information.
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Some of the favored social media platforms are:
Facebook is a well-liked free social media site on which one has to sign up or register to create profiles, share photos, and videos, and get in touch with friends, colleagues, and family through chats or messages. Facebook can also be utilized for business strategy by making Facebook pages related to businesses, products, brands, and services. As per records, there are 2.07 billion monthly active Facebook users with an increase of 16% year over year.
LinkedIn is also an in-demand social networking site specifically formed for business associates, professionals, managers, etc. LinkedIn has more or less 467 million members attached to the services. This site helps the registered user to connect and create a network of people they know and trust professionally.
Twitter is also an in-fashion social networking site that permits its registered users to note their messages through short posts called tweets. As per records, 330 million active Twitter users are availing of the facilities of the same.
Instagram is a flourishing social media site that allows users to make their photos, videos, and stories visible to all, and at the same time upgrade their business well. The record shows that Instagram has 800 billion monthly active users. Instagram is a fruitful resource for many companies to sponsor their products, target their audience, and navigate real social value.
The Future of Social Media Impact on Marketing
There are two slides in the marketing strategy due to the rise of Social Media. First is a sudden switch of marketing media from one to many relationships to peer network relationships. This is no doubt the most convenient business move to develop and flourish in this competitive field as well. Second, Social Media is more interactive for the audience than traditional media. Traditional Media is firmly situated in the one-to-many prototype- It follows the live stream model, wherein it transmits the message it wants to many people either through broadcast television, print, radio, or signage. Therefore traditional media is restricted in establishing involvement as is performed by Social Media.
Due to the rapidly growing pace of interactive Social Media and its impact on marketing strategy, marketers are now embracing digital marketing tools and techniques to promote their products and services anyways, anytime, and anywhere. Where traditional marketing was confined by location and time, digital marketing has productively removed these obstacles to present itself as a hassle-free marketing tool.
The Growth of Virtual Communities
A rise of Virtual Communities can also be observed across the digital world. A Virtual Community refers to a social network of people who intercommunicate through specific social media on topics of mutual interest anywhere from the world crossing earthly boundaries. There has been a gradual change in society from kinship-bonding to friendship-bonding. The virtual communities stand for several relevant activities like forming friendships, learning new knowledge, getting feedback on purchases based on human experience in general.
Initially, people had minimal audiences to solve their queries, but today there are plenty of audiences. Therefore finding someone to help them is not an issue now. People are no longer connected by one or two degrees of separation instead of six degrees of separation in reaching someone by name and location. Companies are grasping this chance to target audiences.
For instance, earlier in India marriages were organized with the help of relatives or one’s instant social circle, but today due to the initiation of matrimonial websites, families are getting an opportunity to enlarge their social circle maintaining the margin of boundaries, caste, and creed- criteria that continue to influence the Indian marriage market.
Users as Producers and Promoters
Co-produce is an interesting idea which motivates independent parties, such as a company and its consumers, to jointly manufacture a special product. As per records, companies like Nike offer an opportunity to their customers to design their sneakers by using various online tools provided by them. Co-produce not only refers to designing the product but also responsible for popularizing the creation of marketing campaigns as well. Recently, many popular brands like Converse, Frito-Lay allowed a large number of loyal customers to come up with their ideas and creativities for advertisements for the brand. By doing so, companies try to attract the consumer’s attention to the bettermentof the company as a whole.
Co-production stands for influencing the consumers to perform things to promote as well as to produce, whereas product ownership stays intact. Nowadays, the performance and contribution of consumers have become important for the promotion of the brand. It has become a parallel communication instead of partial communication -the consumers also perform their best for creating content and promoting brands, just like the tasks provided by advertising agencies. The effort of the customer today is being liked, acknowledged, appreciated, and by brands to deliver better products and services and to promote them.
Here are 8 Positive Effects of Social Media Impact on Marketing
1. Influence On Brand Awareness
Social media is an open door full of opportunities for companies to flourish with their creativity in shaping social media campaigns, advertisements, and promotions. The role of social media platforms is to engage the audiences on behalf of a company and to draw their attention to enhance brand awareness.
Raising brand awareness demands committed efforts that took over a long period where you need to constantly convince your customers that they can lay their trust in your brand and products.
Being open to many social media platforms will help the companies to get in touch with multiple social media audiences and offer the primary projection. Contents are the mirror to show the image of an expert. Therefore the articles must be enriched with educational content, attractive infographics, relevant charts, and quality pictures. Educational content plays a pivotal role to position the brand as an authority.
Brand awareness is a matter that one needs to look into when focusing on teaching and not selling on social media.
2. Social Media Influence on Website Traffic
Nowadays most of the mass is spending a good amount of time on social media.
As per resource, in 2020, around 3.6 billion people were using social media worldwide, which will be expected to increase to around 4.41 billion in 2025.
That’s why it is a perfect social medium to drive traffic to your website. Social media if handled properly has great capability to enhance the traffic of a website.
Social media is a medium for sharing details through various forms, like text, images, podcasts, videos, infographics, charts, etc.
Therefore with the help of social media, companies can attract more audiences to the website. Social media is a useful source where the information can be easily visible to multiple users, in different locations across the world.
The point here is that social media directly Customer the website.
3. Social Media Influence on Brand Loyalty
All companies admit that their customers are very dedicated and loyal to them. Therefore keeping trustworthy customers is more efficient than finding new ones.
Brand loyalty is a move where consumers wish to buy a specific brand product over another. Brand loyalty is the outcome of fostering trust between companies and consumers. The most vital aspect of social media marketing impact is their brand loyalty that leads to regular buying by the consumers leading to higher revenues and customer referrals.
Brands need to control the usage of social media to build loyalty by establishing relations with clients and customers, increase the number of audiences through Facebook, Twitter, Instagram, and many more social media platforms. This helps create a fan circle of loyal, trustworthy customers and brand followers who will purchase the products and carry the brand name on their shoulders as a brand ambassador.
As per research, 66% of users ranging from 18-24 years of age group are more faithful to the brands they prefer on social media. Brand loyalty is an obvious outcome of excellent customer service provided by the companies over social media. Companies need to be quick to resolve queries and satisfy complaints that have been frequently asked on social media. Customer feedback on social media also helps a lot to gain trust from social media audiences.
4.Social Media Influence on Customer Service
Most often customers post various queries and complaints on social media sites like Facebook and Twitter. Social media has modified the definition of customer service. Nowadays customers would like to ask their queries online rather than talking to the call center executives. They prefer to share their problems faced with the related products on social media with the expectation to receive immediate action from the brand at the earliest.
Brands will never destroy their brand image on social media. Therefore they will justify the queries of the customers on an immediate effect. This attempt will not only help the customers; but also indicates how flexible the companies are towards their customer’s needs and requirements.
This call-to-action strategy of the companies creates a positive influence on the social media audience. Customers are impressed by the proactive and caring gestures of the brands towards them.
5.Social Media Influence on Competition
Social media is modifying the definition of competition. With the existence of social media marketing, companies basically compete with everyone at a time.
The presence of competitive brands can’t be ignored. For instance, Facebook is a marketplace with a huge crowd. But brands have no other option than to become a part of it. Though there are chances that your competition is also there on Facebook.
Competition influences most brands to perform their best on social media. With the help of social media, brands can easily keep a check on the activities of competitive companies. They can follow their actions, their recent campaigns, their commercials, and so on.
For instance, Cloohawk is a social media management tool with special features that allow brands to see within a second the best performing posts of their competitors.
6.How Social Media competition can motivate the brands to develop
It can be obvious that the competitors are already ahead in creating a strong social media brand presence. Now they are investing their time to build a positive online social presence. This advancement of competitive companies will motivate the new ones. They will try to reach out at that level of success and glory.
The absence of a social media brand presence is a big disadvantage. Without social media presence, brands are indirectly passing on the advantage to their competitors. At the same time, they are losing the golden benefits of social media marketing.
Social media provides a chance for companies to increase the conversion rate. It also helps the brands to mix up well with their customers. As per research outbound marketing is less effective than social media marketing. Social media marketing has a 100% higher lead-to-close rate altogether.
As per research social media marketing is crucial for all brands, big and small, and the ones trying to widen sales.
A brand with a proactive social media marketing approach is key to strengthen its marketing strategy. The basic technique is to learn how to engage, inform, and influence the social media audience. This process will help the consumers to learn about the products so that ultimately they will buy. Many companies have already initiated the call-to-action button on their websites to take social media interactions up to sales.
Social media marketing impact is the most cost-efficient way to market and promote brands. It is necessary when a business is running on a fixed marketing budget. Websites like Facebook, Twitter, Pinterest, etc. allow any brands to make their contents visible. These sites are all for no cost at all. Hence Social media is an easily affordable advertising platform.
Businesses refer to connecting with customers. Brands need to establish a connection by exchanging opinions and preferences. To promote the brand name connectivity is most important. The connection between brands is consumers are responsible for a brand’s success.
Case studies based on real-life experiences showing the impact of Social Media Marketing
Case Study of Shari Academy
Shari Academy is a renowned photography school that offers exciting workshops and provides certification courses. Shari Academy wanted to establish its presence on social media. They have some budget issues. That’s why they have decided to create a Facebook page called “Photography Tips”. The brand put lots of effort to establish the name of the brand in the market. Presently, ‘Photography Tips’ is one of the finest photography communities on Facebook. Presently they are having more than 1.3 million fans. Even the Shari blog receives nearly 30,000 visitors per month.
Case Study of DID-2(Dance India Dance)
DID is a well-known dancing reality show. They wanted to promote their new season namely DID-2. As a result, they have decided to create an online engagement through targeted platforms. They have a strategy to continue that engagement till the last season. Firstly they built their Facebook fan page for Dance India Dance -2. At the same time, they have posted live tweets also from Twitter from the DID sets. As a result, after two months there was a huge increase in likes and comments on the Facebook Page.
Following are the replicate of the DID-2 Facebook fan Page:
LIKES 16 3061
COMMENTS 22 1128
Around 90% of marketers claim that social media and its undeniable offerings have a massive effect on their brand. Therefore, social media has become one of the most versatile and cost-effective strategies that companies can use to contact their target audience and foster trade over time. Social media’s impact on marketing strategy is so great that one will miss out on an exceptional marketing opportunity if they fail to implement it.
Q. How effective is social media marketing for small businesses?
Social media is the most used digital platform by maximum population around the world. If you want to promote your business, be it small or no matter how big, in today’s world social media is the best & powerful platform. It helps your business product and services reach the maximum people which in return can bring more business and profit.
Q. How important is social media marketing?
As we all are very much aware that how impossible it is to survive without social media as almost 90% of the world population is social media addict. Undoubtedly, this in itself proves the importance of social media marketing. Also said that, social media is free platform to promote your business.
Q. Is there any course that helps learning social media marketing course?
Yes, you will find many online skill development courses for social marketing. IIM SKILLS is rated and ranks on top as they offer the best digital marketing course.