SOCIAL MEDIA AS A MARKETPLACE

“Social media will help you build up loyalty of your current customers to the point that they will willingly, and for free, tell others about you.”

Bonnie Sainsbury -Social Media Influencer.

Do you realize that social media has become a marketing tool? Whether for entrepreneur, business people and etc the growth of social media has inevitably led to an increase in the importance of social media marketing. Social media marketing is the process of promoting your business or website through social media channels (e.g., blogs, forums, instagram, facebook, etc.). It has limitless benefits from forging close, professional relationships, to dramatically boosting visibility, traffic, reputation and sales. But even the most basic focus into social media marketing can yield tremendous results for a company:

The current economic downturn will also accelerate the use of social media, such as blogs and social-networking sites, by consumers looking for intelligence on firms and their products. As trust in brands is eroded, people will place more value on recommendations from friends. Social media make it harder for brands to “pull the wool” over consumers’ eyes, but they also offer canny companies a powerful new channel through which to promote their wares and test new products and pricing strategies. Marketers ignore the messages that emanate from these groups at their peril. For one thing is clear: this recession has triggered a wholesale reappraisal by shoppers of the value that their habitual brands deliver. The winners will be those that adapt intelligently to the new reality. The losers will be those who think they can win simply by telling consumers to “Buy It!”

Most of your current and potential customers are online. They are engaged with social or consumer-generated media. They are discussing the products and services that they love and the products and services that they do not like. These online consumers have the power to affect your company and its sales. Companies that will flourish in this new environment will have to develop strategies and tactics to listen to, learn from, analyze, understand and engage with this new influential social media channel that will have a profound impact in the current and future marketplace.