Before the social media boom, marketers thought social media marketing was just another fad that would soon likely pass, something in the vein of pyramid and networking scams. But when Facebook started attracting attention from the year 2004, more and more social media marketing strategies were developed. Today, this marketing tool has allowed start-ups and established companies to gain attention without having to spend millions of dollars on advertisements.
A Brief History
Before there was social media, netizens in the 1970s and 1980s spent most of their time on social networks like dating sites and online forums. Six Degrees, Livejournal, and Friendster were the earliest form of social medias.
The dot-com bubble of 1995 - 2002 was a critical event that allowed the internet to become a viable marketing tool. It began with search marketing, prompting brands to create websites to establish an online presence. As Google, Yahoo and MSN’s search engines evolved, companies turned to SEO strategies to remain at the top of search results.
When web 2.0 sites - blogs in particular - increased in popularity, marketers began to recognize the potential of content marketing. Inbound marketing, where more value is added for the customer and business is earned, starts replacing age-old “buy, beg or bug” outbound marketing strategies.
In 2003 - 2004, the arrival social media sites like Facebook, LinkedIn and My Space initiates the shift of internet users from multiplayer online games into social networking sites. Eventually, businesses picked up on the positive effects of a social media site presence on e-commerce and started creating their own profiles on the popular networking sites.
In the years that followed, customer’s favorable attitude towards social media marketing slowly changed business marketing preference from the more aggressively-proactive outbound marketing to the more reactive inbound marketing.
Nowadays, over 90% of marketing executives utilize social media as part of their marketing strategies, and successful businesses utilize social media marketing for branding, lead generation, customer retention, research and e-commerce. Not only does social media manage to significantly reduce marketing expenses and the time needed to market products and services, it also increased the effectiveness of marketing and overall customer satisfaction. 83% of customers who post complaints on a brand’s social site like Twitter and get a reply state that they are satisfied. This helped companies retain more of their customers, resulting to increased existing customer transactions.
Capitalizing on free Internet
There are over 2 billion people online at any given time. Around 23% of the total time spent on the internet is spent on browsing or interacting within social media sites. At least 53% of individuals who are active on social media sites such as Facebook are following a brand. With the help of global internet, more and more customers (if not all) are expecting their brands to have an online presence.
This year’s tablets, iPads, and Android-operated phones will only make internet browsing all the more accessible for consumers, and social media marketing will allow companies to reach out to more target markets. As long as the internet exists, social media will remain an important part of marketing strategies.
Showing posts with label social media. Show all posts
Showing posts with label social media. Show all posts
Sunday, March 18, 2012
Tuesday, March 13, 2012
Inbound vs. Outbound Marketing
There is some debate on which marketing strategy is most effective, or rather, whether or not outbound marketing is still relevant. New age marketers are quick to point out that inbound marketing is far cheaper compared to outbound marketing, and the leads generated from inbound marketing tactics are more likely to convert to sales. Before joining the argument, let us first take a closer look at the two marketing strategies.
Inbound Marketing
The premise of inbound marketing is to attract prospects to come to you of their own free will by rousing their interest in your product, service or brand through helpful information. It is a two-way communication that makes use of various media available on the internet with the goal of educating or entertaining your target market and providing them with the information that they want.
As a marketing tactic, inbound strategies rely much on the internet, which isn’t at all an inconvenience in this day and age where everyone’s instinct whenever they want to know something about anything is to “google” it. The same holds true for consumers. When a consumer wants to purchase something, the initial instinct is to look for reviews and comments about it on the web.
Inbound marketing makes use of websites, SEO, inbound telemarketing and an active social media presence. An informative and engaging content marketing strategy which includes blogs, podcasts, white papers, vlogs, ebooks, and attractive infographics is created to entice your target market to come to you.
For this marketing tactic, you have to make sure that your online presence interprets your brand as reliable and informative. And if you really want to keep attracting more leads, you have to keep it entertaining as well. As long as they know that you can provide them with what they need, your target market will keep coming back to you, and if they wish to purchase, your brand will be on the top of their list because they know they can trust you.
Outbound Marketing
This marketing strategy can be considered as mainly “traditional.” Outbound marketing normally makes use of paid advertisements, TV commercials, huge billboards, outbound telemarketing through cold calling, email marketing, direct mail and trade shows.
Although considerably more expensive compared to inbound marketing, outbound strategies are more effective in generating lead volume, providing a greater quantity of leads for filling the top of the pipeline. Also, by utilizing behavioral analytics on target markets, this marketing tactic can actively seek out and appeal to specific audiences. It is also able to reach a wider audience within a short span of time, as in the case of billboards and TV commercials.
Outbound tactics are mostly used in B2B marketing. Unlike B2C companies, B2B companies don’t have the luxury of leads who actively seek out their products and services as most of their leads already have them. It is the goal of outbound marketing to show these leads that there are better products and services than the ones they are currently using.
Inbound marketing is able to provide quality leads for a cheaper price, but quality without quantity can never sustain a business, and it is outbound marketing who is able to provide the required numbers. In the end, the best marketing strategy is to combine the best of both in developing your own marketing plan to generate as much qualified leads for your business.
Inbound Marketing
The premise of inbound marketing is to attract prospects to come to you of their own free will by rousing their interest in your product, service or brand through helpful information. It is a two-way communication that makes use of various media available on the internet with the goal of educating or entertaining your target market and providing them with the information that they want.
As a marketing tactic, inbound strategies rely much on the internet, which isn’t at all an inconvenience in this day and age where everyone’s instinct whenever they want to know something about anything is to “google” it. The same holds true for consumers. When a consumer wants to purchase something, the initial instinct is to look for reviews and comments about it on the web.
Inbound marketing makes use of websites, SEO, inbound telemarketing and an active social media presence. An informative and engaging content marketing strategy which includes blogs, podcasts, white papers, vlogs, ebooks, and attractive infographics is created to entice your target market to come to you.
For this marketing tactic, you have to make sure that your online presence interprets your brand as reliable and informative. And if you really want to keep attracting more leads, you have to keep it entertaining as well. As long as they know that you can provide them with what they need, your target market will keep coming back to you, and if they wish to purchase, your brand will be on the top of their list because they know they can trust you.
Outbound Marketing
This marketing strategy can be considered as mainly “traditional.” Outbound marketing normally makes use of paid advertisements, TV commercials, huge billboards, outbound telemarketing through cold calling, email marketing, direct mail and trade shows.
Although considerably more expensive compared to inbound marketing, outbound strategies are more effective in generating lead volume, providing a greater quantity of leads for filling the top of the pipeline. Also, by utilizing behavioral analytics on target markets, this marketing tactic can actively seek out and appeal to specific audiences. It is also able to reach a wider audience within a short span of time, as in the case of billboards and TV commercials.
Outbound tactics are mostly used in B2B marketing. Unlike B2C companies, B2B companies don’t have the luxury of leads who actively seek out their products and services as most of their leads already have them. It is the goal of outbound marketing to show these leads that there are better products and services than the ones they are currently using.
Inbound marketing is able to provide quality leads for a cheaper price, but quality without quantity can never sustain a business, and it is outbound marketing who is able to provide the required numbers. In the end, the best marketing strategy is to combine the best of both in developing your own marketing plan to generate as much qualified leads for your business.
Wednesday, February 22, 2012
Qualities Of A Good Social Media Marketer
Social media marketing is the latest in marketing tools. Indeed, this is a method that plays a huge role for any business seeking to improve their market performance. This is particularly true if they are looking for good B2B leads. After all, what is the purpose of social media other than to generate qualified leads for the company? And with the world now connected more than ever through the social media, you can say that this creates fertile ground for you to market on. All that remains is for you to look for the right social media marketer. Now, what are the qualities of a good one?
1. The Thinker – this applies not just at the concept phase of the campaign. It also plays a role in the process itself. How can you expect a lead generation campaign to succeed without someone analyzing the latest trends?
2. The Researcher – a good social media marketer would be able to know what customers really want through the help of research tools available to them. Understanding what makes people buy or do business with a company can actually make all the difference between being in the know or having no clue as to what to offer.
3. The Writer – take note that social media is communication. You must have someone who has the skills in the communication as well as in writing. They must be able to convert their thoughts into concrete calls for action, which would often generate hot B2B leads.
4. The Empathizer – does the marketer have any idea what are the trends in the market? Has he been able to capitalize on that? Was he able to generate qualified leads through his understanding of the market? These are just some of the questions that can influence your choice of social media marketer.
Take note of these four key characteristics and you will find the right man for the job.
1. The Thinker – this applies not just at the concept phase of the campaign. It also plays a role in the process itself. How can you expect a lead generation campaign to succeed without someone analyzing the latest trends?
2. The Researcher – a good social media marketer would be able to know what customers really want through the help of research tools available to them. Understanding what makes people buy or do business with a company can actually make all the difference between being in the know or having no clue as to what to offer.
3. The Writer – take note that social media is communication. You must have someone who has the skills in the communication as well as in writing. They must be able to convert their thoughts into concrete calls for action, which would often generate hot B2B leads.
4. The Empathizer – does the marketer have any idea what are the trends in the market? Has he been able to capitalize on that? Was he able to generate qualified leads through his understanding of the market? These are just some of the questions that can influence your choice of social media marketer.
Take note of these four key characteristics and you will find the right man for the job.
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