Social Media Marketing (SMM): What It Is, How It Works, Pros and Cons

 

What Is Social Media Marketing (SMM)?

 

Social media marketing (SMM) (also known as digital marketing and e-marketing) is the use of social media—the platforms on which users build Social network and share information—to build a company's brand, increase sales, and drive website traffic. In addition to providing companies with a way to engage with existing customers and reach new ones, social media marketing (SMM) has purpose-built data Analytics that allow marketers to track the success of their efforts and identify even more ways to engage.

 

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How social media marketing works:

 

• Market Research: Collecting relevant data to solve marketing challenges in the digital age is a breeze as compared to the traditional methods. Social media allows you to understand customer demand, stay updated about the buying trends, analyze the market condition, and also analyze your competitors’ efforts. 
• Discovery: Identifying and unlocking new opportunities is easy in the real-time world of social media. You can find new ways to connect with your target audience, generate leads, nurture them, and provide customer support. 
• Formulate a strategy: Depending on your business objectives, you can prioritize these opportunities and develop a clear social media strategy. Various online tools have also cropped up to help you manage your digital marketing efforts. 
• Final review: On social media, you receive instantaneous feedback and reports on your campaigns. And accordingly, you can improvise your digital marketing strategy.

 

Pros of social media marketing:

 

1.    Relationship building - The one-to-one dialogue you can have in social media makes it a powerful platform for building a closer affinity with customers and brand loyalty

2.    It’s where your customers are - Facebook isn’t merely a domain filled with teenagers and 20 somethings. It now attracts all demographics and ages. In fact, Facebook’s fastest growing segment is the over 55s

3.    Word of mouth/ viral marketing - Social media can spread your offers and messages amongst 1000s of people very quickly. And the best part is that it’s your customers spreading them for you

4.    Give your brand personality - Posting messages everyday can develop people’s perception of your brand’s personality very quickly through your writing style and tone of voice

5.    Gain feedback - You can ask questions and run polls to gain valuable insight on how you can improve your products and services

6.    Learn more about customers - By listening and participating in their online conversations you can find out more about your customers’ problems, likes and dislikes and preferences

7.    Low cost of entry - Creating profiles and pages on Facebook and Twitter is quick, easy and free to do

Cons of social media marketing:

 

1.    Time consuming - Social media is often described as an ‘online conversation’, so you’ll need to be constantly feeding your pages and profiles with interesting comments and links to keep people interested. You also have comments to monitor and respond to on a daily basis. Being consistently interesting and relevant all the time can also be difficult to maintain

2.    Long time before ROI - Social media is a long haul strategy. It could be months, or even years, before you start seeing it translating into increased customer loyalty and sales

3.    Dilutes brand voice - If you have more than one person posting messages on social media sites then this can lead to a mish mash of phraseology and tone

4.    Risk of negative comments - If you use social media clumsily, there’s a risk of a public backlash and damage to your brand’s reputation (read more in When Social Media backfires)

5.    Loss of control - Anything you publish is open to comment and criticism. Providing an arena for people to post negative comments about your company is the stuff of nightmares for marketers (but aren’t people going to talk about you anyway?)

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