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. The resulting electronic word of mouth (eWoM) refers to any statement consumers share via the Internet (e.g., websites, social networks, instant messages, news feeds) about an event, product, service, brand or company. 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.
Social networking websites
Social networking websites allow individuals to interact with one another and build relationships. When companies join these social channels, consumers can interact with them directly. That interaction can be more personal to users than traditional methods of outbound marketing & advertising.
Social networking sites act as word of mouth. Social networking sites and blogs allow followers to “retweet” or “repost” comments made by others about a product being promoted. By repeating the message, the user’s connections are able to see the message, therefore reaching more people. Because the information about the product is being put out there and is getting repeated, more traffic is brought to the product/company.
In order to integrate Social Networks within their marketing strategies, companies have to develop a marketing model. In a marketing model (SNeM2S) based on Social Networks is provided. The model includes the following steps:
Selection of potential Social Networks to use;
Definition of a financial plan;
Definition of organizational structures to manage the Social Network in the market;
Selection of target;
Promotion of products and services;
Social Networking is used by 76% of businesses today. Business retailers have seen 133% increases in their revenues from social media marketing.
Social Media Channels