Topic Chosen: Social Media as a New Tool in the Modern Marketing Era

Introduction

Social media is one of the channels of communication that is getting popular as an effective tool in marketing. Social media marketing is used where the brands promote their businesses through different platforms online. It is different from traditional advertising which included television, radio, print media, etc. But with technological innovation social media has become one of the most important tools for brands to do branding and promotion. There are different advantages of social media for which it has grown exponentially over years. There are different social media platforms. Among them, the brands decide to use as per the type of business. Like, if the Business is B2B then the effective tool used for social media marketing are LinkedIn, Twitter, etc. While for B2C or D2C business all the platforms like Facebook, Instagram, youtube, etc are used more frequently.

Reason for choosing this topic

Social media marketing has become an important tool for every business. The majority of the businesses are now switching from brick to click business models. The reason for choosing this topic is its relevance in the current market. Also, this topic is the interest of the major audience and challenging as well due to the intensive growth that social media is facing now. Living in the era of millennials and Gen Z, the market is going through dynamic changes where social media is becoming the base for every business so this report would help in understanding its importance.

Objective

• To understand social media as an effective tool in modern marketing
• To understand the advantages of social media as a tool
• To get an overview of which social media platforms businesses would choose as per parameters of their products or services

Importance and advantage of social media tool

Social media is also defined as a connection between consumers and brands. It is a community of virtual worlds that brands are making stronger to create a position on social media. Some of the major advantages of social media as a tool outlined by experts could be the reach it provides. Brands have a wider audience reach through social media and the best part is as per the browsing behaviour of consumers promotion of brands get promoted to them. So the brands can reach out to the target audience and create more brand awareness. Also, with social media the engagement between the consumers and brands have become better, the advertising cost is lesser compared to the traditional media yet they have a wider reach with increased visibility.

Moreover, using social media brands have observed better customer loyalty and drive in sales. The dynamism in social media is vast as content promotion is done through different ways like video, polls, daily posts, online surveys, etc. This also provides an idea to businesses about consumers buying behaviour and wants. So, the analysis can be done better and brands can make strategies of marketing as per collected data. According to Forbes the audience base of Facebook is more than 2 billion so the companies have such a wide base audience that they can promote their pages and websites. The usage of Instagram and Facebook is observed to be highest by the companies to advertise and have organic promotion as well. For B2B most of the companies prefer to use LinkedIn, Twitter, Facebook, etc. Even many small businesses using social media intensive have observed huge growth in their business.

Conclusion

As observed social media has become a dominant part of modern marketing. The growth of businesses globally has increased much more with the use of social media. Sometimes for organic results, it takes time but promotional strategies like advertising have provided great results to many businesses. Even many brands only have online market space and no brick model. Thus as per the market competition and type of business, social media platform can be an effective tool and has only grown as social media will remain a part in the long term future. It is now time for brands to remain updated with new platforms. They should be prepared with new strategies required to be used to remain relevant with technological changes.