Friday 10 August 2012

What is Social Media Marketing ?


What is Social Media Marketing ? - Meaning and Important Concepts


We Humans are essentially social animals. Communication and interaction is vital for the Human society. People love to socialize and interact with one another. Internet technology has changed the way the people communicate. Gone are the days when one had to write a letter or book a telephone call to speak to a friend or relative living across the country. Today technology enables one to be in touch with friends and family across the globe instantaneously.


Look at any individual’s lifestyle today. Most often you will find people spending over two to three hours every evening on the internet chatting with friends and communicating with likeminded people. People of all ages tend to find social networking sites that deal with the subject of their interest and follow the conversations happening there. Internet being a global phenomenon, you will find people from all over the world coming together to talk and share information about their particular topic of interest. It had never been easier that this to make friends and socializing over the internet.


When we talk of social networking we are not just referring to the chatting and other blogs and forums where people discuss certain topics. We seem to be using the social media for sharing videos, movies, music, photos and all of the information that one would want to share. Millions of viewers log into You Tube to view the latest movies, clippings etc. every minute. Similarly millions are logging into face book searching for friends online and sharing information about self with friends all the time. Flickr happens to be the most favorite site for photo sharing.


When you want to know the definition or meaning of a particular word or a topic, what do you do?. It is quite likely that you will check out the Wikipedia or Encyclopedia sites online. If you follow the history of Wikipedia, it best describes the growth and power of social media. Wikipedia is a site that allows anyone and everyone to contribute topics, explanations and definitions at its site. The information so provided can be reviewed by those interested and anybody can comment or provide corrections as well as further explanations. Thus the topics are built, reviewed, changed and reformed through the collective effort of people who are interested in the particular topic. This is perhaps the best example of social media network where people come together to discuss, deliberate, communicate and create content that is useful to one and all.


When you look at the social media marketing websites from the eyes of the marketing companies, one gets to see a huge potential waiting to be explored. Social media networks represent markets and customers who are online and listening. With captive audience being available, marketing companies can reach out to the prospective customers and help build opinion about their products and services as well as initiate discussion about their products with the help of those who are interested as well as those who have been customers of the company. Marketers can learn a lot and get real feedback about their product and experiences from the customers online and besides initiate interest in others who are watching and following the topic.


Social media marketing is a phenomenon and this is a medium that no marketing Organization can afford to ignore or be absent from.

Introduction to E Commerce and Internet

We are living in the age of technological advances. Development in our society began to happen post the World Wars, where in Industrial revolution started changing the face of economies. With evolution of Information Technology we first heard the Radio and later the TV that could capture pictures from the air and show it on the TV box. Then came the ‘Computer’ which was aptly the magic box. Computers and advancement of information and communication technology heralded the arrival of ‘Internet’ or ‘World Wide Web’ technology.


What a difference the Internet has made to our lives. No other invention has had such a mass transformational power over the entire human society, enterprise, business, economy as well as the political systems, education and the world communities and nations at large. The internet is rightly called the highway that has managed to erase the borders between countries and societies and taken the human society to a different level altogether.


Take a look at our lives today. There is no aspect of our life that is not interfaced with internet in one way or the other. From an individual’s need to find a date or a suitable life partner to one’s banking, insurance and other payments as well as dining out and not to forget the online shopping, internet has managed to become the mainstream facilitator to each and every individual.


Today millions of users access and use the internet for various purposes throughout the day. They use the internet for searching, browsing, writing & communication, listening, watching news, videos, publishing copying, printing, discussions, trading and selling etc. The list of activities and choices that the internet has got to offer to individuals is ever expanding. With millions of users actively looking for various products, information and services, there is a huge opportunity for the businesses to jump on to the internet bandwagon and cash in on the business opportunity that is presenting itself every minute.


Technology has helped build a platform that has enabled the businesses to cash in on the huge population and market that is now accessible over the internet and sell to them. Take the case of Online Banking, Mobile Banking, Debit| Credit Cards, ATMs as well as online trading and other business transactions, all these have grown and happened as a result of technological advancement in terms of communication, software as well as hardware technologies. From the time that one connected to Internet using a desktop, model and a telephone line to the Wi-Fi technology of today, we have graduated very fast making it possible to buy and sell at the click of a button. At another level the Business Processes as well as ERP coupled with various software and applications besides EDI, have enabled businesses to go ‘On Line’ with their business models.


Today no business, be it Business to Business or Business to Consumer, can ignore the huge ‘Online Market’ that exists on the internet. E Commerce was inevitable. Physical markets have literally been replaced with ‘Virtual Markets’. E Commerce has had far reaching impact on business organisations for it has redefined ‘Market’. E Commerce has made it possible for sellers to reach out to planet wide markets and consumers, thus changing the way business is conducted. For every prospective Management Professional, the in depth understanding of ‘Online Marketing’ and ‘E Commerce’ have become very important. Marketing managers have got to go back to the class rooms to learn the new rules of game in handling Online Marketing which is drastically and totally different from the traditional marketing, selling, distribution and advertising strategies. Understanding all about Internet, E Commerce mechanisms, technologies, learning how to market online, understanding E Customer and learning to identify, build and nurture a relationship with the E Customer become the building blocks of one’s new learning.