Social Media Marketing is the process of gaining website traffic or attention through social media sites. Social media marketing programs usually center on efforts to create content that attracts attention and encourages readers to share it across their social networks. Among social media platforms, user-generated content has acquired a huge interest for marketers. User-generated content in the form of online consumer reviews have given birth to electronic word of mouth.
Online consumer reviews (or electronic word of mouth) are conceptualized as any positive, neutral, or negative information about a product, service or a brand created and published on a consumer review platform or social commerce website by a potential, former, or actual customer. When the underlying message spreads from user to user and presumably resonates because it appears to come from a trusted, third-party source, as opposed to the brand or company itself,this form of marketing results in earned media rather than paid media.
One of the main purposes of employing Social Media in marketing is as a communications tool that makes the companies accessible to those interested in their product and makes them visible to those who have no knowledge of their products. These companies use social media to create buzz, learn from and target customers. It’s the only form of marketing that can finger consumers at each and every stage of the consumer decision journey. Marketing through social media has other benefits as well. Of the top 10 factors that correlate with a strong Google organic search, seven are social media dependent. This means that if brands are less or non-active on social media, they tend to show up less on Google searches. While platforms, such as Twitter, Facebook and Google+ have a larger amount of monthly users, The visual media sharing based mobile platforms however, garner a higher interaction rate in comparison and have registered the fastest growth and have changed the ways in which consumers engage with brand content. Instagram has an interaction rate of 1.46% with an average of 130 million users monthly as opposed to Twitter which has a .03% interaction rate with an average of 210 million monthly users. Unlike traditional media that are often cost-prohibitive to many companies, a social media strategy does not require astronomical budgeting. To this end, companies make use of platforms such as Facebook, Twitter, YouTube and Instagram in order to reach audiences much wider than through the use of traditional print/TV/radio advertisements alone at a fraction of the cost, as most social networking sites can be used at no cost.
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