If someone told you in the early 1990’s that in the near future with a few lines or with a few hash tags in a webpage with the help of internet you could start a revolution. At first you might have a laugh about it & you might also think the person might be a maniac. In 2010 Arab spring was started (It’s also known as twitter or facebook revolution) social media had played a huge role in Arab spring to spread awareness & shaping opinions about the revolution. Tweets were coming from all over the world to support the revolution. The revolution was a success. It showed the world the power of social media.
Now days with social media all your news (International, National or Local) comes to you within seconds (slow death of News channels). Now a day’s audience acts a major news contributor to any major events. Sometimes even news big agencies rely on the audience for the follow up of the story or major breaking news. The victim of rising tide is not only news agencies or channels but also traditional advertising. Earlier times one used to see trailer of upcoming movies only on boob tube or some ads on newspaper. Now trailers are first released on the social media (try to make it viral & cost effective) then only on the traditional media. In traditional media you pay huge monetary for your content & in some social media sites you get some monetary for your content.
Many brands are tapping into the new medium for effective marketing & cheaper (comparing it with traditional medium).
For various brands the biggest advantage is having a presence on social media is basically direct communication/connection with the end user. For the tube the time limit was always an issue. In golden 30 seconds message has to be told. Now there is no time restriction on the medium. Many video advertisements in the present social era are 5 to 7 minutes long. The first of the few major brands to have short ad films was BMW. So no more Netflix & chill, it will be ads, fad & chill. Social media easily allows relationship for the brands & drives new sales. From point of investment promote your product on social media will easily increase your return on investment.
Brands know that social media is a brilliant tool to connect with fans & customers. Many brands know the importance of having a social media presence for good brand building. Social media gives you an awesomely efficient, cheap, and effective way to build that trust- provided, of course that you’re a good product or brand to begin with. Now big brands are asking customers to create own digital ads using their product & upload them.
Social media has also led to more CRM (Customer relationship management). Earlier when a customer brought products through Brick & Mortar they would have to face zillion problems. For customer, if faced with an issue with the product he would have to literally go down to the store for any replacement or repairs. Now times are changing they are ‘ebricks’. If your product has some or the other issue just DM (Direct Message) or write on their social media page & they would contact you within seconds or will try solve your problem.
Many small brands may not have the good financial for creating a fancy website. Instead of that small brands create a page (absolutely free) on the social media sites. Small brands are getting more information about the end user & are getting to know more info about demographics they want to sell. Social media use really good algorithm for ads, so basically custom ad targeting for various product & it will have the right reach (Minimum wastage & maximum matching). If consumers follow the product/brand social media page they directly know what’s new with the product /brand & will know about new products as soon as possible.
Now live broadcast of election rally or rock concert can be seen through social media. Many politicians are spending millions on social media advertising. They want the masses to follow them on the digital front also. In 2014 general election many political parties spend good amount on social media for netizens. Many political leaders have social media accounts & they know it play a fundamental role for them & for netizens.
Social media can be used for good, not just at a personal level but also at a societal level, many government institute use social media as an effective way to promote their public campaigns. Celebrities are using social media to promote themselves and their products.
Social media appears to stay here for a foreseeable future. In today’s world one is always connected with a click away for anything & everything. As our online lives and activities continue to mingle with targeted brand promotions and advert placements on social media, companies and users may expect some benefits in this collaboration. In the digital world we are all marketers. Happy socializing.