The customer today is educated and tech-savvy, demanding products and services, which are tailored to suit his needs. The word “customization” was never more relevant or important. Heeding to the voice of their customers and satisfying them gives companies the leading edge to emerge successful. This is possible only if an organization stays in constant touch with its customers. Social Media is emerging as a powerful tool in establishing contact with customers and conveying the relevant message.
Social media marketing is a kind of “word-of-mouth” marketing using a digital platform. The emergence of social media marketing profoundly influences how organizations communicate with their customers. Marketing communication is no longer confined to traditional means of communication, such as door-to-door selling, television or print media advertisements, and such others. Social media marketing is a relatively inexpensive but sophisticated tool to communicate with its customers and foster long term relationship and loyalty with the customers for building brand image or positioning products/services. While everyone agrees that social media marketing is a powerful communication tool, yet companies are struggling to figure out the best way to leverage it.
The emergence of social media marketing coincides with other titanic changes taking place, such as the emergence of developing economies, rapid technological developments, sustainability, and others. These changes have created a new customer base with very different needs and buying power structures. It is important for marketing personnel to understand these paradigm shifts and effectively respond to them.
As markets expand, the only constant factor is “change”; hence, it is vital for companies to be agile and responsive to their customers. In order to become global players, industrial companies need to have strategies and technologies, which are a blend of innovativeness, agility, and efficiency.
While networking technology has become user friendly and affordable, its access has increased, making it a matter of minutes or seconds to spread the information, find any information, and create a message. The success of marketing hinges on creating the necessary message, spreading the message quickly, and making it easily accessible; and these are hallmarks of social networking media. This makes it important for organizations to have a strong presence on the social networking media, as it facilitates direct communication with potential customers.
Social media marketing is emerging as a quick and reliable way to connect and remain connected in a volatile and fluctuating marketplace. Social media helps to build collaborative value networks between people, technologies and trends.