Social Media – The New Marketing Strategy
Although social media has been around for some time, it is beginning to blossom in the world of business. More than 75% of all internet users search and find products to buy. Just this last year, sixty five percent of all purchases where either done on the internet, or searches were preformed to find out product information which lead to purchases in stores. With social campaign networks such as Twitter, Facebook, and Foursquare now harvesting large and small business alike, chances are that the social media will expand the opportunities as quickly and as widely as the internet.
How Businesses Benefit From Social Media Networks
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Businesses can interconnect with their existing customers and receive immediate responses to new products, selling ideas, and customer service.
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Potential new customers can interact with product information giving the business the opportunity for new clients.
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Businesses can have friendly relationships with their customers which can lead to future business through word of mouth.
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With the business networking that is developing through social media, reputations are being established within the social world which can lead to the business appearing innovative and ahead its competitors.
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It helps a business create a social campaign in a very short period of time.
The Opportunities are Endless
There are many ways that businesses can market their company and make a profit, and it is very possible that this will be the next wave in marketing strategies, but there are some drawbacks. Social media presents a new set of problems due to its wide open media exposure. It is very possible to damage a reputation, as it is to boost the wellness of a company. Without constant awareness of what is being presented on the social campaign, it is possible to have trade information leak out, or falsified information distributed regarding a product. The new business owner will have a far better understanding of the pitfalls than existing companies, because they are coming in at the beginning of the social age.
The Challenges For Social Media
One of the main challenges for the social campaign is that information is constantly changing and keeping up with those changes will require a review of what is being said on the social media networks. Although financial resources will still be spent on traditional marketing strategies, money will also be spent on tracking and counteracting negative or erroneous information.
