By Manya Arora
Edited by Sanchita Malhotra, Associate Editor, The Indian Economist
An average internet user is said to spend three hours per day on social media/social networking websites. That is 1095 hours, 65,700 minutes and 3,942,000 seconds a year!
This acts as an ace up the sleeve for small businesses, startups and established firms. With consultants, pandits and firm leaders belief in the potential of social media marketing, the return on investment from this form of marketing must be substantial, and indeed IT IS.
Social media platforms can be used for a variety of objectives such as Gaining Website traffic, Transforming mere browsers into clients, creating a brand identity and voice, spreading brand awareness, maintaining a positive brand association, communicating and interacting with key audiences, etc.
The first and the most crucial step for effective social media marketing is formation of a social media marketing strategy. This involves identifying and analyzing the target audience and their preferred social media website. Although facebook with the acquisition of instagram is the reigning king, but a recent research showed that 52% of online users are engaged in more than two social networking/media sites. Prioritizing your efforts towards social media marketing is important but a more sure shot way to attain visibility is by making the brand available across social media platforms that not only enhance your brand image but add value along the way. A few methods like blogging and posting showcase your beliefs and ideology, usage of photo-s haring social media sites such as Instagram and Pinterest can captivate your target audiences through pictures and videos.
The content should be the hero of the dish. It is the content that fetches one the shares or likes that we love so dearly. In order to achieve this, a thorough analysis of your target audience will come in handy (reiterating how important it is!).Statistics, pictures, quizzes the content should be worthwhile and captivating with food for thought in order to keep them engaged.
One needs to inform, educate and entertain with oomph and leave no option for the user but to scroll UP and like!.
However the job doesnt just end there. Post marketing research is equally important, if not more critical than pre marketing research. In order to truly understand your customer`s behavior you need to analyze consumer engagement and run an Opportunity gap analysis.
A bird in hand is worth two in a bush, customer retention is the key to success in this rapidly globalizing world. Increase customer interaction and engage your customers by making their social media experience more interactive and customized. From Modi to your favorite laundry service everyone is cashing in on the power and sway of social media, so join the bandwagon and maximize returns!
Manya is a high-spirited, passionate and enthusiastic individual with a keen interest in economics. Currently realizing her passion, she is pursuing Economics Honors from Maitreyi college, Delhi university. She sports a positive outlook and takes the half glass full approach to almost all aspects of her life. She believes that an educated individual is the utmost resource of a country and has volunteered for a number of NGOs sharing the same ideology. Coming from a defense background she loves travelling and meeting new people. If not writing youll find Manya at her beloved ballet class or enjoying a good read.