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SOCIAL MEDIA MARKETING STRATEGY - Essay Example

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SOCIAL MEDIA MARKETING STRATEGY

Just as was the case in the early 1920s when television and radios were top-of-mind in the field of advertising, face-book, twitter, and other social networks have become popular marketing and promotional sites for a number of companies (Wollan et al., 2011, p.56-65). Finding a workable and economical marketing solution is the holy grail challenge for top markets today. Advertising lost influence and dominance of the media when internet accorded all the audience the ability and power to manage and run personalized message delivery systems. With facebook, myspace, linkerdIn, instagram, blogs, pinterest, foursquare, yelp, and twitter attracting more than 89% users, it is therefore essential for the executive markets to re-think marketing. However, as evidenced the collapse of top global companies which heavily invested in social-media marketing, the whole idea of intensive social media marketing strategy is more complex and needs to be critically examined (Wollan et al., 2011, p.56-65)....
ctive Media Strategies to Market Mix The “willingness and ability” to develop diverse and new relationship with our clients is the key tool in integrating social media to match sustainable traditional market mix. By closely examining the 4P’s Marking Mix Model; product, place, price, and promotion, it is noted that the success of marketing is based on the strength of connection established between the corporation and its target customers (Wollan et al., 2011, p.56-65). This is the sole objective in marketing as it was more than a decade ago. With the increased competition in every industry, firms takes advantage of current dynamics in social marketing- the biggest step in marketing and advertising evolution as companies source for the most effective and best marketing strategy which connects them with their target audience. This raised the question on how marketing has changed over the last decade. One social media blog posted, “I believe we are in the Toddler Phase of Social Media Marketing. Some companies will walk and talk faster than others - but we ‘ALL’ want to walk.” And not intending to “Coin a Phrase”. Some marketing consultants and managers have also recommended the phrase “Re-inventing Social Media” as a solution to social marketing and market mix challenges (Wollan et al., 2011, p.56-65). Marketing Integration & Social Media: Toddler Categories The first group of social media marketing toddlers is those companies which integrates their social media programs to match their marketing strategies. Though these companies register gains from such operations, they also make errors in the process. Their strategy is entirely founded on the principle of ‘willingness’, hence, they are naturally described as risk lovers. This does not ...Show more

Summary

The Daily Telegraph dated July 23, 2012 carried a story “Social Media without an effective Marketing Strategy is Lame; Marketing without an Effective Social Media Strategy is Blind ” With the digitalization of the global markets in the twenty first century, it is undisputable denying the influence of social media in the global business affairs…
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SOCIAL MEDIA MARKETING STRATEGY essay example
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