Social media marketing (SMM) is a form of online marketing that utilizes social media as a powerful marketing tool. The objective of Social Media Marketing is to develop content that users will share with their social network which in turn increases brand exposure and customer reach.
Social media marketing gives a company direct feedback from customers, potential customers and vertical markets while creating a personal connection. The interactive parts of social media give customers the opportunity to ask questions or voice complaints before they become larger than necessary and feel like they are being heard. This is often referred to as Social Customer Relationship Management.
Social media marketing programs normally focus on efforts to create content which in turn attracts attention and encourages readers to share it with their social networks. This affords a corporate message to spread from user to user in a viral fashion and may have more credibility because it appears to come from a trusted or reliable source as opposed to the brand or company itself. This form of marketing is driven by word-of-mouth, and results in earned media rather than paid media which is far more effective.
Here are some very interesting social media marking statistics
- 85% of B2B buyers believe companies should present information via social networks. (Iconsive)
- Marketers will spend $8.3 billion on social media advertising in 2015. (NewsCred)
- “Interesting content” is one of the top three reasons people follow brands on social media. (NewsCred)
- 87% of B2B marketers use social media to distribute content. (NewsCred)
- As consumer use of social media for brand comments and complaints continues to increase, brands are having a hard time keeping up. Only about 20% of consumer comments generate brand responses, and the average response time is over 11 hours. (eMarketer)
- Nearly three-quarters of US marketers believe customer response management on digital channels is important however, just one-third say their company does a good job at this. (eMarketer)
- Social media marketing budgets are projected to double over the next five years (Social Fresh)
- 66% of marketers claim that social media indirectly impacts their business performance. (Forbes)
- Over 70% of US online adults use some form of social media networking. (Heidi Cohen)
- 72% of all internet users are now active on social media. (Jeff Bullas)
- The top two barriers impeding adoption of social media within organizations are lack of overall strategy and competing priorities. Just 11% of marketers cite legal or regulatory concerns. (i-SCOOP)