The most recent topic on the hot seat is social media marketing. Marketers and management gurus have been debating over the success of social media techniques in today’s scenario. However, there is no evidence that they are better than the conventional techniques or not. But, it is quite factual in organization’s perspective that it generates a report that allows the advertiser to know the number of people who have actually seen the advertisement or are following the story.
Social media marketing uses social media platforms like Facebook, WhatsApp or Twitter to promote a product or a service. Since a vast majority of the population spend most of their times in their smartphones and social media accounts, the organizations envisage that the best way to promote any product is by placing them into the stories on the newsfeed. This technique is churning popularity among many recent companies and previous companies are also transforming their way of marketing. This is so because of the fact that the social media already has a built-in analytics tool that helps the firm to track progress, success, and engagement.
It is quite intriguing as to why social media marketing is considered a Millennial approach. Primarily speaking, millennials refer to the latest generation which is tech-savvy. Most of the youth population finds the social media tools to be helpful as well as influence. Many firms have adopted affiliate marketing as well which allows their brands to be included in some of the contents like video blogs, written blogs, newsfeed on social media, and word-of-mouth channel. This has proven to be quite effective in engaging customers to an ad campaign or convert them to try a particular product or service. The cost associated with it is also less compared to billboards and printed media. Moreover, this approach has changed the way of marketing a product where people influence people.