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Is Social Media Right For Your Business?

Last updated 4 years ago

Advertising is a key element for any business entity. The marketing of goods and services is essential for businesses to generate customers and increase sales. Large organizations invest millions of dollars towards annual advertising budgets as a means to reach potential customers and convince them to buy their products or services. In our ever growing Internet generation, advertising dollars have shifted towards Internet communication mechanisms to reach consumers. Traditional advertising focused heavily on television, magazines, newspapers, and radio. In today’s marketplace, we see the rise of social media as a communication platform. This medium is now essential for companies large and small as it offers a thriving market of customers and an ever-growing presence. The Internet has revolutionized global commerce and companies now have the ability to thrive on a global platform.

With the advent of social media, traditional marketing and advertising for most businesses has turned a corner. Social media provides a cost-effective marketing platform for businesses large and small. In addition to this, companies like Facebook have allowed for some of the most detailed geographic and demographic segmentation of potential customers ever available. Never before has such detailed information about customers on such a wide scale been at marketers fingertips. Information such as this allows marketers to create effective advertising campaigns and assist in channeling interest through social media platforms. Google has been another key player in the advent of Internet advertising. With their social media site, Google+, they have entered the social media advertising arena to compete against Facebook. Both companies offer tremendous amount of tools and statistical reporting for marketers using their platforms. These social networking sites allow businesses to compete on a much larger scale to a greater audience with a lot less advertising capital.

Social media has developed itself into a true communication platform and this impacts businesses in a number of ways. Sites like Twitter allow for average consumers and businesses to interact with one another like never before. Customers now have the ability to leverage social media platforms to communicate and engage with the companies that they know and love. On the marketing aspect, businesses can now attract potential customers and communicate and retain existing clients like never before.  It is important for marketers to understand the differences between each social networking site and ensure that it is most appropriate for their type of business. Advertising campaigns must be custom fit and specifically designed for the environment of the social networking site. Thankfully these sites allow advertisers to generate detailed reports and monitoring tools that will help companies keep track of their campaigns. Armed with this information campaigns can be tweaked and tailored for maximum effectiveness. Advertising through these channels is still relatively new. As the process and systems continue to grow and innovate, it is important for businesses and marketers to stay on top of the updates and changes.  Not all networks are appropriate for all types of advertising. Before deciding on the specific social media advertising network, ensure that the content is tailored to suit that network. Social media is here to stay and its benefits continue to have an impact on us all. Social media advertising has developed itself into becoming a cost-effective and efficient way for businesses and marketers to reach thousands of potential customers and clients through an ever growing medium.

ReachCast is ReachLocal's award winning solution for business owners who wish to outsource their web presence optimization (Search Engine Optimization, Social Media and Reputation Management rolled into one) to trained experts in the field of Internet Marketing.

How has Social Media transformed your business online?

About Alan Moore: Alan is an Internet Marketing Consultant with ReachLocal Baltimore.  His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies.  He manages over $1,800,000 in yearly marketing budgets and has worked with local businesses, agencies and the US government.  Give him a call at (877)655-3438 to schedule a Free Online Marketing Consultation.

To read more of the article that inspired this blog, please visit: http://www.emarketer.com/Article.aspx?R=1009061

 

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