Introduction: The use of social media is a must for companies today. As a business, it is very important to tap into online conversations about your own brand in addition to those of your competitors, your industry and your areas of expertise. The more open, transparent and engaging your company can be with your social media activities the more success you will derive from its capabilities. Companies and organisations of all sizes are now waking up to the possibilities and potential of social networking sites. In particular, most have focused their attention on Facebook and Twitter, two of the most powerful social networks in existence today. The purpose of this article is to demonstrate why social media should be a key component of your companies marketing plan.

What is Social Media Marketing?

Social media marketing is an “engagement with online communities to generate exposure, opportunity and sales.”

Why do I need it?

We all know how important word of mouth is, and social networking is like word of mouth multiplied tenfold. The exposure of your company or brand on social media can be quite extensive. It is vital that companies tap into and join online conversations about their brands, but also use it as a means of finding out about their competitors. Social media is a great way to establish a foothold in the marketplace in addition to demonstrating how open, transparent and engaging a company your organisation is. To ensure you come across in such a fashion you will need to note some of the following points.

Industry Knowledge: Have a clear perspective on your industry events, news and developments.

Content:Your Social media commentary needs to be professional and consistent. Ensure your content is engaging.

Communication: Conversations should be encouraged and metrics should track the amount and the depth of your communication efforts.

Trust:Be open and transparent.

Benefits of Social Media Marketing

The number-one benefit of social media marketing is gaining ground with your target market. A recent survey of Irish marketing managers felt that social media gave great exposure for their business.

• 81% of all marketers feel their social media efforts have generated exposure for their businesses. Owners of small businesses (2 to 100 employees) reported greater exposure (84.8% reporting clear benefits)

• Improving traffic flow to their website and and growing lists was the second major benefit. This was followed by creating new relationships with their consumers or target market.

• Social media can help with a rise in search engine rankings.

• 50% of marketers have indicated that their organic rankings in the SERPS improved.This improves business exposure, lead generation efforts, and a reduction in other marketing activities.

• Approximately 1 in 2 two marketers found social media generated qualified leads. Time for Lead Generation – a couple of months/minimum of 6 hours per week.

• 61.62% of marketers who have been using social media for years report it has helped them close business.

• Helps reduce overall marketing expenses.

• 0% financial cost involved with social media marketing apart from the time it takes to achieve success.

• Social Media helps with reducing your overall marketing costs.

Commonly Used Social Media Tools

• Twitter, blogs, LinkedIn and Facebook are the top four social media tools used by marketers, with Twitter being the most popular.

• Owners of small businesses are more likely to use LinkedIn in comparison to employees working for a larger company or corporation.

• Men use YouTube or other video marketing in comparison to women (52.4% of all men compared to only 31.7% of women).

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