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Social Media Marketing: An overview
It’s the billion dollar question: How can brands turn the social networking phenomenon into sales? Kipp takes a look at the opportunities and threats of social media marketing.
November 2, 2010 3:33 by Eva Fernandes
One of the challenges for a marketing professional is to be able to turn trends into an opportunity for sales, without the privilege of years of tried and tested research. Enter Social Media: a relatively new avenue that has had some marketing execs confused out of their mind.
Many jumped on the band wagon, creating a Facebook page or a Twitter account and posting press releases; but shortly afterwards just looked around and blinked. In fact, a recent survey found that 65 percent of respondents say their companies have not increased revenue or profited using social media. The question is, should these findings mean attempts at social media marketing be frozen?
Experts say no. Understanding what works with social media marketing is a subject that is open to much debate. Kipp decided to put social media marketing under the magnifying glass: we take a look at its virtues, its examples and what the experts are saying.
What is Social Media Marketing?
Social media marketing refers to usage of the relatively new medium of social media to target and interact with one’s target audience. Social media marketing generally takes the form of blogs, facebook pages, twitter accounts, Myspace pages, Youtube channels and forums. For instance, for LG’s touch screen cellular phone “Bliss” a social media marketing company, aptly called SocialMediaMarketing.com, conducted a four week campaign during which they tweeted over 75 times, published on over 100 blogs in four weeks, got 7,000 Facebook fans, and drove more than 80,000 targeted users to the Facebook Fan Page.