In this series of blog posts, we will focus on how social media analytic has changed the traditional landscape of marketing. These posts will start with background knowledge on why is social media analytic used in marketing, then briefly highlight the changes in this the traditional marketing landscape, and then delve into more technical knowledge such as social media analytics metrics and tools. Please refer to links below for each section of the blog.
- What do Business Analytics aim to achieve in Marketing?
- Member Development with Business Analytics
- Types of Social Media Analytics and Tools
Due to the growth of social media usage, online transparency, and user empowerment the traditional marketing space has been re-transformed. Marketers now need to build digital relationships, reputation, and brand loyalty before they can sell products. This post will highlight how social media has influenced the marketing space, prompting social media strategies to be implemented, and how business analytics has now become essential in marketing.
Why Do Organisations Embrace Social Media?
In the previous post we have briefly outlined some major reasons why companies and businesses embrace the use of social media to connect with their customers. Similarly, below are some highlights and reasons for social media benefits in marketing:
- More targeted marketing (Save costs)
- Larger reach
- Ability to measure ROI based on engagement
- Multimedia capabilities
- Direct feedback from consumers
- Interest and purchase tracking
- Brand measurement
- Different engagement methods on various platforms
- Build relationships with consumers
How has Social Media Changed Traditional Marketing?
Social media has changed the marketing landscape of organisations. Traditional methods of converting customers, from gaining brand awareness to being a loyal brand member (as seen in the marketing funnel below) consists of various methods such as:
- One way communication on radio to raise awareness
- Directly advertising via brochures
- Mail to test user consideration of the products
- Product testing to show preference
- In store purchase to measure loyalty
Fast forward to our current times, the marketing approach has changed from broadcasting marketing material to establishing two-way customer networks on social media. This includes search engine optimisation to raise awareness, online research of user reviews to test consideration of the product, searching through YouTube reviews, such as “Monthly Favourites” for preference testing, having users “like” the brand Facebook page or positively engage in brand comments to establish loyalty, and finding users to review their own products or hashtag Instagram posts for advocacy.
- Rogers, D. (2011). The network is your customer. New Haven [Conn.]: Yale University Press.