There is no denying that online marketing has shifted the pace of marketing from traditional ways to online marketing. Companies are adopting this new medium of promotion adequately. It gives them more interaction with customer than any other way; it is also because it is highly cost effective and provides an ultimate and immediate feedback from customer.
Social media has primarily changed how users interact with each other and with brands. As a result, marketers tell us that they now consider this new medium to be a critical component of brand building.
Three recent research studies show active Internet users spend anywhere from 16% to nearly 25% of their online time on social networks. In com-Score's 2012 U.S. Digital Future in Focus report, researchers found that 90% of all U.S. Internet users visited social networking sites in December 2011. Additionally, consumers are spending 1 out of every 6 online minutes on social networks (16.6%). That's up from less than 15% at the end of 2010.
Most of the companies of the world are already using their official websites as their ambassador in an online world but after the arrival of social media it has been a necessity for every company to make their presence in this new medium of communication.
- Insight view of Customers Interest and Market Trends:
As we already discussed above that it gives you an insight view of the customers mind and you get to know about their interest, their preferences etc. which helps companies to build their strategies according to the market trends.
- Immediate Feedback:
Companies get rapid response from their customers which makes communication more effective and efficient. It also helps companies to improve their quality of the services/products. It's also an opportunity for customers to get in touch with the companies officials and express their thoughts and also provide suggestion for the betterment of the brand.
- Creating Brand Equity:
Social Media marketing help brands to create, sustain or increase their brand equity among the customers. Marketing leaders such as Coca-Cola and JetBlue recognize this and are integrating social with paid and owned media to build a 21st century brand experience. Social media can help marketers to
a) Build relationship to become more trusted
b) Differentiate through an emotional connection to become more remarkable
c) Encourage loyal fans to become more indispensable.
This does not mean that days of making official websites are gone, but yes social media has minimized the preference ratio of website. Companies feel more comfortable in social media, because it gives them an opportunity to engage with the customer more efficiently and getting their immediate response which ultimately becomes helpful for their brands or services.
It improves the customer interaction level, as the same time increases the interest of customers for the brands.
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