Social Media Marketing
Social media has had a tremendous impact on marketing. It is a platform that people use to advertise their wares and are assured that they will reach millions of consumers. Consumers also showcase their products in a bid to draw the admiration of their social media friends. This trend has led to the majority of consumers basing their product purchases on what is trending on social media. Marketers have also identified the power of social media as the number of active users continues to soar. This is because social media is a cheap avenue and provides the marketer with an opportunity to communicate with the consumer (Heymann-Reder, 2011). Consumers make their comments and then the marketer is able to review what the consumer feels about the products. They are also able to receive comments on what should be improved to make the products better and more appealing to a broader consumer base (Hoffman & Fodor, 2010).
The percentage of people accessing the internet is on the rise in all corners of the globe. This implies that any company can reach a global audience through social media. The emergence and growth of online payment systems have allowed consumers to purchase products from any country in the world. Conversely, social media marketing does not need to be restricted to people in a certain geographic location only (Solomon & Tuten, 2012). Online payment solutions have grown faster due to the demand for these services to allow internet marketing to thrive and reach a wide audience (Anderson & Holloway, 2006). As more people buy smart phones and internet-enabled phones, online marketing will continue to thrive. The nature of human beings to keep abreast with what their colleagues are buying and wearing will continue to drive the purchase of certain goods. This will only serve to make online marketing more popular than it is now.
Anderson, A., & Holloway, D. L. (2006). U.S. Patent Application 11/922,346.
Heymann-Reder, D. (2011). Social Media Marketing. Erfolgreiche Strategien für Sie und Ihr Unternehmen, München.
Hoffman, D. L., & Fodor, M. (2010). Can you measure the ROI of your social media marketing. MIT Sloan Management Review, 52(1), 41-49.
Solomon, M. R., & Tuten, T. (2012). Social media marketing. Prentice Hall.