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The Power Of Social Media Marketing

3621 words - 14 pages

THE POWER OF SOCIAL MEDIA MARKETING 6 The Power of Social Media MarketingPaul MuellerBUS508 - Contemporary BusinessMay 30, 2013 The Power of Social Media MarketingPast and present businesses have always looked toward the power of marketing to increase the visibility and thusly the profitability of their product or service. From newspaper advertisements to roadside billboards, marketing seeks to target and entice the general public to increase product consumption and ensure the stability or growth of a business. In recent times, social media marketing has become a powerful tool utilized by modern business strategists to reach their desired target consumer audience. This examination will delve into the power of social media marketing through the evaluation of its popularity within the modern business environment, analysis of its advantages and disadvantages for business entrepreneurs, examination of how Pepsi is utilizing this form of media marketing to enhance its understanding of consumers, research and inspection of how other businesses are using social media marketing to their advantage, and the future outlook on the use of social media marketing in business.Why Social Media Marketing?Social media marketing has become a vital tool for businesses of all sizes due to its cost effectiveness, ability to reach massive ranges of consumers and increase product visibility quickly, consumer research data gathering advantages, and instantaneous product branding. The most pertinent advantage to the social media marketing craze is its low price point. Social media outlets such as Facebook and MySpace provide the ability to create pages that individuals can subscribe too that are free of charge to the organization that establishes them. "The majority of social media sites are free to access, create a profile and post information. The advantage of reaching your targeted market for little or no cash investment is substantial, and the audience wanting your information voluntarily joins or follows you. Pay-per-click advertisements on sites such as Facebook are "geo-targeted" according to specific criteria, to reach the correct audience" (Sandilands, (n.d.), para. 3). Although the cost of a social media profile and associated access rights is free, established commercials, media blasts, and linked activated advertisements can come at a cost. Some media outlets use a flat fee, while others use somewhat unconventional billing such as 'cost per click' in which the organization is billed in accordance with the amount of activity they receive on a hyperlinked advertisement, or 'cost for promotion' in which the company or organization pays for the intensity at which their product or item is promoted by the social media outlet. Due to the massive capability of social media marketing to reach worldwide audiences instantly, the cost effectiveness of this marketing technique however is most predominately seen when the volume of consumers per dollar spent is accurately...

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