Modern Marketing
Social networking sites have shown rapid growth along with the advancement of technology. Nowadays, one in three people in the world are active users of social networking sites. Among them, YouTube, Instagram, and Facebook are three of the largest. With billions of users daily, it has naturally become one of the biggest platforms for business. One of the business processes that experience the most impact is marketing.
Marketing is the process of gaining more customers through building customer relationships. In its practice, marketing consists of four main components – Place, Promotion, Price, and Product. This means that having good promotions, pricing, and product alone is not enough to reach the desired customers; having the perfect place to conduct marketing strategies is just as important. The target audience, amount of people, and suitability are the things to be considered in deciding where to market a brand. Nowadays, with viral social networking sites, reaching millions of viewers can be done in a second and users are automatically grouped – making it the perfect marketing tool.
Digital marketing is the term used for marketing done through online platforms. Other than the ability to reach more people in a shorter time, digital marketing has a number of other benefits. Through digital marketing, businesses can learn what people think about them and what people really want; enabling an interaction between the business and its customers. By enabling this interaction, digital marketing succeeds in creating better customer relationships and gaining an ability to immediately track customer responses. Additionally, social networking sites are cheaper than traditional marketing methods, such as billboard advertisements and television commercials.
Among all social networking sites, with 2.23 billion monthly active users, Facebook is considered most popular for digital marketing. The reason for its popularity exists on its algorithm. Facebook’s ability to segment users into specific age, interest, behavior, and location groups is what makes Facebook the most suitable for marketing. As early as 2007, they started providing an ad system called Facebook Ads for businesses. Years later, with the result of their business expansion, Facebook also created a bridge for advertisers to have ads in both Facebook, and Instagram, its subsidiary company that has the second most monthly active users in the world.
In conclusion, along with the development of technology, it is important for businesses to adjust its functions in order to meet modern demands. As the saying goes, modern problems require modern solutions – social networking sites can be a solution that meets today’s demands for marketing. Through digital marketing in social networking sites, reaching a large amount of people has never been easier and cheaper. Social networking sites like Facebook and Instagram can even help in delivering marketing campaigns to specific target audiences, making it perfect for marketing.