In this presentation, we are going to discuss a somewhat “new” form of marketing strategy: Social Media. We will talk about what social media is, give a brief history of social media, and then go on to explain how this type of marketing technique is going to be beneficial to your company.
First, let’s define “social media”: Social media is a collection of websites on the internet where users can communicate with each other, providing information about their lives using a combination of posting pictures, audio, video, and/or statements. Examples of social media websites include, but are not limited to, blogs, social networking sites, and image or video sharing sites. There are other forms of social media sites, these are just the varietieswe will be discussing in this presentation. In order to give you a better idea of the types of social media you will be presented with, let’s take a look at a general, brief time line of social networking websites.
In 1997, internet blogging began. Users could post online journal entries, and comment on other users’ posts. In 2002, Friendster was created as one of the first social networking websites. Three months after creation, Friendster accumulated three million users. The websitesMySpace and LinkedIn were created in 2003. MySpace was modeled after Friendster as another social networking website. LinkedIn was created as a networking website built around the idea of connecting businesses with each other. In 2004, Facebook was created by Mark Zuckerburg, a Harvard student. When it was first launched, only students at Harvard had access to this social networking website, but was later open to all college students. Flickr was also created in 2004 as an image-hosting web site where users could post and share a collection of pictures they had taken or found on the internet. I’m going to mention Facebook again for 2005 because high school students were now given access to the website in this year. Today, anyone over the age of 13 has access to this page. YouTube, a video sharing website, was also launched in 2005. In 2006, MySpace was the most-used social networking website, however, Facebook would jump ahead and take the title in 2008. Twitter was created in 2006 as a “micro-blogging” website where users could post pictures and short, 140-word posts. Now that you have a general understanding of the concept of social networking websites, let’s take a look at some marketing statistics based on using some of these social networking sites.
According to the 2013 Social Media Marketing Report, almost 80% of the marketers that were surveyed are using social media as part of their marketing techniques, with 86% placing a high value on social media marketing. Of those surveyed, 47% have been using this technique for at least two years. All of this suggests that social media marketing is becoming more popular with other companies and is an important part of a marketing strategy for them. Almost everyone else is doing it, so why should you? Over the next couple of slides, we’ll discuss how this marketing strategy could be beneficial to you.
This is a general graph from the 2013 Social Media Marketing Report showing the benefits of social media marketing. Most of the marketers surveyed agree that increased exposure and traffic are the top two benefits. Almost half of those surveyed stated that this type of marketing strategy improved sales. When you break it down based on length of time each marketer used social media as a marketing technique, over half of the marketers surveyed who used this strategy for 3 or more years stated that they had improved sales. It may take a bit of time to get up there, but the sooner you start your marketing strategy, the sooner you will see results.
So let’s start off with a benefit of social media marketing I know you’ll appreciate: It’s cost effective! Most social networking websites are free, which could really help get your name out without spending anything extra. You can opt to pay for advertising, or you can just create a page specifically for your company and rely on a social networking “word of mouth” strategy. For example, on Facebook, when someone who I am “friends” with “likes” a company page, it shows up on my home screen. I would see who was interested in this particular company, the company’s main photo, and a brief description of the company. I could then easily go to the page and browse around to see if I, too, could be or am interested in that company. From there, I could “like” the page as well, and now all of my friends will see that I’m interested on their home screens. Let’s bring back the 2013 Social Media Marketing Report: When marketers surveyed were asked to select only one source for social media marketing, 49% chose Facebook. Facebook is very easy to maintain, and gives consumers a unique opportunity to make suggestions. Most of the marketers surveyed only spend one to ten hours a week using social media for marketing, which really isn’t that much time at all. You will still be able to use traditional methods of advertising, for example, billboards and television commercials, but you won’t necessarily need to spend as much money on those forms of marketing because now you’ve opened up a free form of advertising through your social networking website.
Another benefit of social media marketing: awareness. Eighty-nine percent of marketers surveyed in 2013 stated that the number one benefit of social media marketing is increased exposure. With almost three quarters of internet users logging into social networking websites, that broadens your general base of who can find out about you. The other 33% of those who do not use social networking sites when logging into the internet can learn about your product via word of mouth from those who have found out about your company through the social networking website. And of course, we all know, the more people who know about your company, the more sales you will receive.
Consumers like when companies use their suggestions to improve the company. They’re the ones using your products, they know what they want out of it. Social networking websites such as Facebook make it easy for your consumers to post suggestions to your site, and it’s just as easy for you to respond. If you keep your consumers in mind, you have a greater chance of them telling others about your business and offers. Of course, you could always take e-mails or snail mail, but social networking is the way to do it nowadays. Again, 66% of internet users are logging into social networking sites, and from my personal experience, people aren’t afraid to say things over the internet. They’ll tell you exactly how they feel, whether it be a good or bad thing, and you can quickly see that post and respond. Knowing how your consumers feel about things would just better your company.
In summary, almost 90% of those surveyed in the 2013 report placed a high value on social media marketing. It will give you the chance to increase your exposure, without spending as much money on advertising. With almost 70% of internet users logging into these networking sites, you have a huge, FREE chance to gain awareness of your company to prospective clients. Social networking will also help you get familiar with your consumers, and gain an easy way to find out what it is exactly that they look for in your company.
Social Media Marketing Benefits
Social Media in Your MarketingStrategy
What is Social Media?• Social Media is a collection of websites on theinternet where users can communicate witheach other, providing information about theirlives using a combination of posting pictures,audio, video and/or statements.• Examples: Blogs, social networks, image andvideo sharing, etc.
2013 Social Media Marketing Report• 79% of marketers surveyed have integratedsocial media into their normal marketingtechniques• 86% of marketers surveyed place high valueon social media marketing in 2013 (up from83% in 2012)• 47% of marketers surveyed have been usingsocial media for two or more years
Cost Effective• Social Networking sites (Facebook, YouTube, LinkedIn,etc) are free accounts and easy to maintain• You can use paid advertisements on social networkingwebsites as well, however, it isn’t necessary• 62% of marketers surveyed in 2013 spend only 1 to 10hours a week using social media for marketing• You can also still choose to use traditional methods ofmarketing (billboards, TV commercials, magazine ads,etc.) while using social networking sites, but wouldn’tnecessarily need to budget as much money on thosemethods as you are currently
Increased Exposure and Traffic =Increased Sales• 89% of marketers surveyed in 2013 believethe number one benefit of social mediamarketing is increased exposure• 67% of internet users are logging on to accesssocial networking sites– The other 33% of internet users (even non-internet users as well) can learn about yourservice via word of mouth from those who haveheard about you from social networking websites
Generate Leads and Get Familiar withWhat Your Customers Want• Consumers like when companies take theiropinion into consideration.• Using social media sites gives you direct access toyour consumers’ thoughts, ideas, and concerns– Convenient way for customers to “comment” or“post” what they want and what they don’t likedirectly to your webpage– If you know what your customer base has in mind, it’seasier to make the product more appealing to them
Summary of Social Media Marketing• Almost 90% of marketers who were surveyed in2013 placed a high value on social mediamarketing• Increase your exposure, without spending asmuch money on advertising• Get familiar with your consumers
Works Cited• Stelzner, Michael A., “2013 Social Media Marketing IndustryReport.” Social Media Examiner. Social Media Examiner.May 2013. Web. 10 June 2013.<http://www.socialmediaexaminer.com/SocialMediaMarketingIndustryReport2013.pdf>.• Admin. “How Social Media Can Help Your Business.” SocialMedia Online. Social Media Online. 7 June 2013. Web. 10June 2013. <http://www.socialmediaonline.com/how-social-media-can-help-your-business/>.• "The Brief History of Social Media." The Brief History ofSocial Media. N.p., n.d. Web. 13 June 2013.<http://www.uncp.edu/home/acurtis/NewMedia/SocialMedia/SocialMediaHistory.html>.
Song Credit• DeVotchKa. “How it Ends.” How it Ends. CiceroRecordings, 2004. CD.