First and foremost, marketers must know what is going on around them from a business standpoint. Are companies approaching customers more aggressively than ever before? Do social media outlets such as Facebook and Twitter help businesses drive traffic to their stores? Are online sales booming? The answer to all of these questions is yes. Marketing experts need to keep up with the current and new trends online or they will fall far behind. To break it down, marketers must first familiarize themselves with their own company’s selling strengths. From that, they must do some research on who they are trying to sell to. Once they have completed those things, marketers can then focus on a few social media outlets where they are comfortable to help business.
All marketers need to know their 4 P’s: product, price, promotion, and place (as discussed in my previous post). They must have decent knowledge of the product(s) they are selling to consumers or it will not make sense at all to both parties. Customers want a knowledgeable associate to help them, not someone who will beat around the bush and say anything to get sales. They also must be familiar with prices and their current promotions when participating in social media. Consumers are always looking for the best deals and they don’t want to be left out. Marketers also need to think about where they can actually sell. The great thing about social media is that it can have effect on both the internet and in physical stores. Marketers can take advantage of Twitter and Facebook especially by posting new products and where customers can purchase these items. It doesn’t hurt if a promo code or coupon is linked to the message either. By doing this, consumers are more inclined to purchase either online or go out to the physical store to do in-store research and get the “hands on” experience to buy.
A large portion of generating business by utilizing social media is understanding who the customer is. Everyone is different, so how does a company pinpoint who likes what? That’s where the target market comes into play. A particular product or service could be made specifically for a target market of teens or even adults aged 40-60 years. Studies are done to figure out a trend of what a certain demographic likes and what they are currently buying. For example young adults (20-24 years old) may like to go to the movies more often than their elders so marketers could reach out to this group with promos, catered towards the kind of movies they like.
After analyzing all of these factors and knowing where their information stands, marketers must make a choice what the best social media resource is for them to use. Some companies may use one site more than another or even use multiple social networking sites equally. If marketers are more comfortable being aggressive with consumers, they could place themselves firmly within the realm of Facebook and Twitter. There is new content all the time on these sites and a great opportunity to capture sales. Or if they want to approach sales more professionally, marketers could try YouTube and LinkedIn to connect to customers on a more business standpoint. This infographic also provides some useful information marketers must know in regards to social media: