SOCIAL MEDIA

 Social Media

First of all, What is Social Media?

Social media refers to the means of interactions among people in which they create, share, and/or exchange information and ideas in virtual communities and networks. The Office of Communications and Marketing manages the main Facebook, Twitter, Instagram, LinkedIn, and YouTube accounts.

Social media is a collective term for websites and applications that focus on communication, community-based input, interaction, content-sharing, and collaboration. Mobile applications make these platforms easily accessible. Some popular examples of general social media platforms include Twitter, Facebook, and LinkedIn.

The term social media refers to a computer-based technology that facilitates the sharing of ideas, thoughts, and information through virtual networks and communities. Social media is internet-based and gives users quick electronic communication of content, such as personal information, documents, videos, and photos.

What are the types of Social Media?

  • Social Network
        -When most people think of social media, they tend to imagine social networking sites. A social networking site is a platform that allows people from similar backgrounds or with similar interests to connect online. Facebook, Twitter, and Instagram are the top three social network platforms for the time being, though 2020 may be a pivotal year for several new contenders in the market.    

  • Social News
            -Social news sites are aggregators that allow users to post news links to external sites, on which other users can then vote submissions up or down in a way that affects their overall exposure. In practice, this means that links with the highest number of votes are the most prominently displayed.

Reddit is an excellent example of a social news platform that has weathered the ages. Members of the Reddit platform submit content like links, text posts, or images, organized into separate, user-created boards called “subreddits.” As of 2019, the site ranked as the fifth most visited website in the US.
  • Microblogging
            -Microblogging platforms are sites that allow users to post short written entries, which can include links to product and service sites or links to other social media platforms. Microblogging sites typically build a “wall” or “newsfeed” to allow for specific sharing with followers.

The most well-known microblogging platform is Twitter, with more than 321 million monthly active users. The first tweet was sent in March 2006, when co-founder Jack Dorsey posted “just setting up my twttr.”
  • Bookmarking Sites
            -Bookmarking sites are used to save and organize links from the internet’s plethora of online resources and websites. These sites typically allow users to “tag” or categorize these links, making it easier to share with specific groups of followers.

Pinterest is a great example of a hugely successful bookmarking site, with more than 300 million active monthly users, though Pinterest CEO Ben Silbermann has described the site as more of a “catalog of ideas” than a social network.
  • Media Sharing
            -Media sharing platforms allow users to share a range of media online; in practice, images and video dominate these sites. YouTube has been one of the world’s most well-known media sharing platforms since its launch in 2005. In 2019, more than 500 hours of video content were being uploaded to the platform every minute.
  • Community Blogs
            -Oftentimes, sharing a core message online without maintaining a self-hosted website or outlet is more than enough for a brand. This is where community blogging platforms can provide an essential service, and help communicators reach audiences with minimal fuss.

Some examples of community blogs include Medium, a relatively new online publishing platform dedicated to so-called “social journalism,” and Tumblr, a microblogging platform designed for the sharing of multimedia and short-form blogging.

As with all things in the digital marketing market, the realm of social media shifts and changes by the day. This list may look completely different a year from now.

Advantage and Disadvantage of Social Media

ADVANTAGE:
  •     Brand awareness - Compelling and relevant content will grab the attention of potential customers and increase brand visibility. See branding: the basics.

  • Brand reputation - You can respond instantly to industry developments and be seen as a 'thought leader' or expert in your field. This can improve how your business is seen by your audience. See public relations (PR). 

  • Cost-effective - It can be much cheaper than traditional advertising and promotional activities. The costs of maintaining a social media presence are minimal. If you choose to invest in paid advertising, you can spend as much or as little as your budget allows.

  • Website traffic - Social content can boost traffic to your website. This can lead to increased online conversions such as sales and leads.

  • Evaluation - It is easy to measure how much website traffic you receive from social media. You can set up tracking to determine how many sales are generated by paid social advertising.

  • Customer interaction - You can deliver improved customer service and respond effectively to feedback. Positive feedback is public and can be persuasive to other potential customers. Negative feedback highlights areas where you can improve.

  • Target audience - Customers can find you through the social media platforms they use most. You can choose to maintain a presence on particular platforms that are in line with your target audience. For example, if you are targeting young people you could reach them through Snapchat. If you are seeking business customers, LinkedIn may be the best channel. See social media platforms.

  • Brand loyalty - You can build relationships with your customers through social media. This can help increase loyalty and advocacy.

DISADVANTAGE:
  • Resources - You will need to commit resources to manage your social media presence, respond to feedback, and produce new content. This can include hiring and training staff, investing in paid advertising, and paying for the costs of creating video or image content.

  • Evaluation - While it is easy to quantify the return-on-investment in terms of online sales generated by social media advertising - there are some less tangible benefits. It can be hard to measure and place a monetary value on the brand awareness and reputation that social media can bring. It's difficult to know how social media affects sales in-store.

  • Ineffective use - Social media can be used ineffectively. For example, using social media to push for sales without engaging with customers, or failing to respond to negative feedback - may damage your reputation.


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