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Social media marketing and its importance for companies

A big change in the era of the world wide web began with the development of social media. It has evolved into an exchange platform that especially inspires younger generations to keep in touch with their friends, gaining new information per second. Today’s consumers make many of their purchasing decisions online. They discuss product experiences and share them with others[1].

This way, social media offers companies a new way of marketing to promote a product or service. More and more companies are finding their way into the social media world. In that way, they can meet their customers wherever they are. However, potential customers don’t just want to be overwhelmed with boring advertising messages. Companies need to be creative and, above all, special in order to arouse people’s interest in their products. Success should be guaranteed by defining the right strategy, objectives and target groups for social media marketing[2].

But what exactly is social media marketing? Social media marketing is a type of online marketing in which social media such as Facebook, Twitter and Instagram are used for marketing. It comprises tactical and strategic measures for communicating corporate messages, interacting with users and generating visitors for the website of the company[3].

As soon as companies use social media for their purposes, we speak of social media marketing. They enter into a direct dialogue with their target group[4].

Basically, every company should deal with the topic of social media. It is important to find out to what extent a target group uses social media and whether the products or services offered are discussed.       

Social media marketing is suitable for any company size. It is just as important for small and medium-sized companies as it is for large market leaders. A social media platform is an important channel for marketing products and services on a large scale and with a very large reach. Every provider, every company should advertise where potential new customers are, namely in the social networks. This can also be done with a smaller budget[5].

For the following reasons, this form of marketing is particularly attractive and valuable for companies. First is the possibility of significant reach and influence that companies can achieve through social media. A large number of consumers can be addressed with comparatively little effort. With other marketing channels, it is much more difficult to reach a large number of consumers.           

Another advantage is the attractive cost-benefit ratio. Companies use many functions of the social networks free of charge. This eliminates significant expenses. A low financial outlay is offset by a considerable added value if well thought-out social media marketing is carried out. With all other marketing instruments, higher costs must be planned in. Newspaper advertisements and brochures serve as examples. The company bears high costs and at the same time cannot be sure to what extent these expenses will pay off.

In addition, this type of marketing can be used for social recruiting. In view of the current shortage of skilled workers, this is an attractive option. The possibilities are varied. On the one hand, smaller companies integrate social recruiting into their current presence. Larger companies, on the other hand, design special career pages. In both cases, the usual personnel recruitment is supplemented in a meaningful and cost-effective way.

Social networks have many advantages. However, you can only profit from these with sufficient expertise and time. Not every company is successful with a social media presence. Interaction with users also entails dangers. But with a professional approach, these risks can be reduced and the positive potential can be used[6].

Works cited

[1] Hettler, Uwe.Social Media Marketing. Marketing mit Blogs, Sozialen Netzwerken und weiteren Anwendungen des Web 2.0. Oldenburg Wissenschaftsverlag  GmbH, 2010, München.

[2] Mihajlovic, Sascha. Social Media Marketing. Welchen Nutzen haben soziale Netzwerke für Unternehmen?  GRIN Verlag, 2012, München, URL: https://www.diplomarbeiten24.de/document/194708.

[3]Kopp, Olaf. Social Media Marketing einfach erklärt: Definition, Übersicht & FAQ. Aufgesang GmbH, Hannover, last update: 13.09.2019, URL: https://www.sem-deutschland.de/inbound-marketing-agentur/online-marketing-glossar/social-media-marketing/.

[4] Mattscheck, Markus. Was ist Social Media und wie wichtig ist es für Unternehmen? Onlinemarketing-Praxis,  Asendorf, URL: https://www.onlinemarketing-praxis.de/social-media/was-ist-social-media-und-wie-wichtig-ist-es-fuer-unternehmen.

[5] Mattscheck, Markus. Was ist Social Media und wie wichtig ist es für Unternehmen? Onlinemarketing-Praxis,  Asendorf, URL: https://www.onlinemarketing-praxis.de/social-media/was-ist-social-media-und-wie-wichtig-ist-es-fuer-unternehmen.

[6] Bläse, Melchior. Vorteile von Social Media für Unternehmen. Pergenz GmbH, München, 14 September 2018, URL: https://www.pergenz.de/blog/vorteile-von-social-media-fuer-unternehmen/.