FUTURE OF SOCIAL MEDIA MARKETING

The beginning of 2013 saw the introduction of a new term in our social life, this very term has now become the third most popular word of 2013, as reported by the Time of India on 13th November 2013. This word as we know is the HASHTAG (#). Today it is hard to see a Facebook photo that does not use the Hashtag.

This is an example of how social media has entangled us in a web that we cannot get out of it. We converse using it, the subject matter of our conversations is also what we read or saw over a social networking site. This new tool called social media has gripped a fever among us that it has become the epicenter of our lives.

The same fact as stated above can be used by marketing firms to create a buzz among target markets and increase their clientele. Marketers have used social media as a platform to promote their products in the past, however this dimension has still not been exploited to the maximum potential and the future of social media marketing is beyond imagination. Very soon in the future, many big companies will be hiring marketing experts only to handle their social media campaigns. The internet is a tool of power. The right to internet may in the future be a constitutional right, considering the way we live today. People get up in the morning check their Whatsapp messages and end the day by uploading a picture on Instagram. These two social media have gained enormous momentum in the past year. The mention of Facebook is also mandatory in the sphere of social media.

The Egyptian revolution was started by a tweet, the recent rape allegation against a retired judicial personality was also done through a blog. If social media has the power to enable a fall in government, then imagine the power it can have if marketers use it to promote their products.

We have all seen this over the past years, all YouTube videos begin with a promotional advertising video. Instagram has a popular segment where videos can be uploaded for a time span of 6 -15 seconds. With the growing popularity of this form of social media, making advertisements that are short crisp and memorable are required. Advertising companies can spam Instagram with such videos. Moreover nobody minds watching a 15 second advertisement.

The future of social media marketing is dependent upon two critical aspects viz. eWom- Electronic Word OF mouth and COBRAs or Consumers Online Brand Related Activities. These are the wheels that drive popular social media ad campaigns. Every Friday when a new movie hits theatres nearby, statuses are uploaded about how a person thinks of the movie. This online upload determines the status of the movie over the weekend. Despite best publicity prior to the date of release, a bad electronic word of mouth can trash a movie with just bad comment or review. The magnitude of eWom is much larger than the conventional word of mouth because of the possibility of readers that it can have. A movie that released in U.S.A. much before can have a setback in the Indian markets because of its negative eWom in the U.S.A. That is the power social media.

COBRA – Consumers Online Brand Related Activities is also essential. We often see newspaper reports that Aishwarya Rai is the most googled celebrity. But has one ever thought of which one is most googled brand? Marketers can keep a record of the activities of consumers on what products they google, which brands that people like on Facebook or which product do people follow on twitter. Such online activities can help marketers know the trends that shape up the tastes and preferences of consumers.

Also many companies can create their own app for smartphones. Traditionally marketing agencies used email to update people about schemes and sales. However the known fact is that people may tend to delete that junk email even before they open it. In contrast, if people download an app of a store that will let them browses the products as well as purchase directly using the app. This app can update them about new sales and schemes as well. People will also open the app whenever they have the time and the app can have an update feature where on every weekend updates people of the new things in stores. Marketing companies of children’s interest can also have an association with game sites like minclip.com where they get their target audience. Customized games can also be created to ensure greater reach among the targeted customer base. Similar tie up can be made with smartphone games and apps as per the market demand. For example, Nike can have fitness apps, or Archies can have greeting cards apps and so on.

One also should not forget the importance of linkedIn and Google+. These are two social media routes that are gaining popularity very rapidly. Despite Facebook having the maximum traffic, google+’s multi video chat facility and others have increased traffic on the site. Social Media Marketers should focus on google+ as well. LinkedIn on the other hand can be used for B2B or (Business- to-Business marketing). Marketers can keep a tab on who’s who in the business world and can approach the right person for business. The same site can help them find leads for new sales opportunities.

Many marketers can also use podcasts to market their products. Many reality shows like MTV roadies and America’s Got Talent, use the internet that allow people to send their audition tapes. This way the social media helps the business grow. Similarly sending video campaigns can be started by sports companies where in a sports enthusiast can upload certain videos which can later on be judged. Twitter and Facebook are already being used for similar campaigns.

Marketing through online shopping websites can also be given greater focus. We already have jabong.com, flipkart, ebay and other online shopping sites that are now gaining importance. Marketing companies can use ecommerce to their advantage. They can have exclusive tie ups with such sites so that they can get their products advertised on the home page of such websites. Apart from just advertising on social media, it can help other aspects of marketing as well. Before the launch of a new phone say iPhone 6, Apple can carry out a price bidding over the net to determine the suitable price. This will help know the status of the market as well as create a buzz. Online portals can be used to give facts about the products, blogs, podcasts, Facebook pages, twitter accounts can be used for the same.

Hence social marketing is now the latest trend. Television and newspapers are conventional but the internet has created new opportunities that have changed the way we live. The future of social markets is bright and products will soon be over cyber space. Cyber space is dynamic, one week, PSY’s Gangnam style was the anthem while the next week another direction topped the charts. Hence marketing campaigns need to be short, funny, interesting and memorable. The social media provides greater platform for marketing and thus gives a greater scope for business.

Blog by:- ALARIC JOSEPH MARTINS

*** The views expressed here are the views of the contest participants and myRosys takes no responsibility for any views expressed here in the blog. The ownership of the blog lies with the contest participant and no third party is allowed to use this blog. ***