It has been said that the impact of Social Media Marketing on commercial enterprise is going to be similar to that of the Printing Press on the publishing industry. Going forward, Business Marketing Strategies MUST incorporate some aspect of Social Media Marketing in order to be relevant and effective.
While many use Twitter to inform their “Followers” of activities they engage in, and pompously expound their opinions, many entrepreneurs recognize its potential as a marketing tool. As part of a good Marketing Strategy, the savvy entrepreneur will have a Twitter account that includes a well cultivated, refined list of Followers which would allow the entrepreneur to Test the effectiveness of a promotion, drive consumers to a website/blog, or get the word out about an important announcement.
Facebook, Groupon, Yelp, Foursquare and other social media sites are an effective platform for sending out coupons, announcing special promotions, or daily food specials. REALTORS have increasingly been using all of these for marketing properties and soliciting new business. The Home Buyers have responded. In fact, real estate has now become the most searched for item on the Internet; even surpassing pornography. There are Social Media and promotional sites for many industries; food/beverage, entertainment, real estate, health/fitness, job/career related, and others continually pop up. Additionally, there is no financial barrier to entry. A small business owner can do it without hiring someone or having to buy advertising. The learning curve is minimal and the results can be almost immediate.
Those who dismiss Facebook, Twitter, Foursquare et al, as “something for kids”, are missing the boat – and do so to their detriment. This is the advent of a new day in marketing and advertising; the difference between success and failure could be Social Media Marketing.