What is Social Media Marketing and is it right for you?

Obvious examples include YouTube, Facebook and Twitter but it also includes user generated content on any blog, feedback like a customer review, a file sharing site or a search engine. Basically it is any tool that helps businesses engage with their customers.Social media marketing is a term that describes the act of using social networks, online communities, blogs, wikis or any other collaborative Internet form of media for marketing, sales, public relations and customer service.  Source wikipedia

The attraction for businesses is clear, social media campaigns can result in increased brand exposure, multitudes of new web visitors and improves search engine rankings. However social media marketing is not for everyone.

Social media marketing is evolving extremely fast hence there are few guaranteed formulas for success but here are a few helpful tips:Word of mouth is a very effective marketing tool and social media networks facilitate this very well, allowing the customer to hear firsthand the accounts/experiences of other customer’s.

  • Ask yourself: If my potential customers are not using social networking sites why would I bother using social media marketing.
  • You need to attract/engage ‘social influencers’ – these are people involved in online networks that will truly promote your product or service (a fan) that will become an unofficial brand advocate.
  • Ensure you know your customers needs and market accordingly.
  • Ensure you listen to your customers and actively look to improve where possible. If you listen to your customers they will start listening to you!
  • Success often hinges on attracting new customers therefore campaigns that encourage customers to ‘tell a friend’ can work very well e.g. the use of discounts for the customer on the condition that they introduce a friend.

Richard Kemp – Watts Price Accountants
E: richardk@wattsprice.com.au

The advice provided on this Article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs.