Social media is using technology to interact and socialize with family, friends, and acquaintances. The interactions could be in different formats like text, video, memes, pictures, etc.
Coming back to Social media marketing, It has many advantages.
- Increased brand awareness
- More inbound traffic
- Increases Website visitors
- Wider reach
- constructive customer interactions
- Customer loyalty
- High conversion rates
- Cost effective
Social media as we know now could be dated back to 2004. My Space, Google’s Orkut, and Mark Zuckerberg’s Facebook were launched pretty much around the same time.
Myspace ruled the roost between 2005 to 2008 until Facebook took over.
Orkut started by Google was equally competent until mid of 2005.
To assess why social media is a powerful marketing tool we should see why similar social media platforms like Orkut or Myspace failed.
Apart from technical issues, the main two reasons that lead to the failure of Myspace and Orkut were Creativity and Supporting Businesses.
Social media thrives on creativity. Currently, an average person spends more than 135 minutes in Social Media alone. And what is keeping them glued is the content. Funny, interesting, witty, motivational content which enunciates different human emotions.
Advertisements are the main revenue-generating function of a Social media platform.
Without supporting other businesses a Social media platform cannot pool in resources needed to make design and technology advancements on the platform, which is important for sustenance.
Myspace allowed a lot of advertisements on the user interface in the focus to generate more revenue. But when users found intrusive ads they did not want to be there anymore.
Whereas Facebook required the businesses to create pages. A user who follows them or who has shown interest in a specific product or service would have relevant ads displayed.
This way Facebook ensured that the ads were not a disturbance but added value to the user.
Orkut on the other hand did not allow businesses to create pages on it and eventually, it lost to Facebook as Google never tried to revive it.
Facebook also scored on creative content like community gaming, simple and attractive user interface. If any of you remember the Orkut user interface, you would be able to see only the conversations you have had.
But the Facebook interface also notifies you when one friend of yours has interacted with another.
As Humans, we are always interested in other people’s interactions right.
The success of Facebook brought in more and more social media platforms into play each positioned themselves based on content formats and type of Audience
- YouTube: Video Content
- Instagram: Visual content photos, memes, designed textual posts, gifs.
- LinkedIn: more business and professional networking
- Pinterest: Pictures
- Clubhouse: Speech
- Tiktok: short videos
Facebook by far is the most used Social media platform drawing 59% of social media users. It has over 60 million business pages and 6 million actively paying advertisers.
The fundamental reason for Facebook success as a marketing platform is
“ Marketing thrives where people thrive”
Social media marketing has the potential to reach wide and multiple audiences. But one should also beware of its capacity to spread negative news like wildfire.