Different Ways Social Media Is Taking over Online Marketing Industry


18-10-2012 |  Saswati Sunyana |    Trends

The novelty with social media is gradually subsiding and instead several businesses and users are now trying to figure out how they can use social media to their advantage. There are several uses of social media which includes solidifying relationships with existing customers, building relationships with potential customers, taking the product to various markets, building awareness about the brand and finally attracting the attention of the press to the product launch. Many businesses are thus creating sophisticated marketing plans by using social media giving rise to many trends which includes creating niche networks, micro-economies and social sharing.

Niche Networks:

Social media users are increasingly becoming familiar with different platforms and technologies that exist in the marketplaces and they are moving beyond focusing on simply one social networking websites such as Twitter and Facebook. The users are creating social media communities around themes, specific interest and even goals. Businesses are thus figuring out the best possible methods to reach out to these customers within the context of social media so that the customers can relate to their products and services offerings. Hence a smart niche network approach can help any business quickly get the attention of potential customers to increase its revenues.

Micro-Economies:

Social media is taking an important seat of the financial table of every business start-up. Hence many start-ups are focusing on creating networks and platforms that can connect various segments to the funders. For this reason, numerous networks are emerging every other day on the Internet which helps fund new businesses, charities as well as artistic endeavors.

Social Sharing:

Businesses are also ready to move beyond the desire to control the entire dialogue with their customers and are instead allowing viral marketing through social media. While most of the viral marketing happens organically some activities are still controlled by the businesses such as allowing reviewers to upload their reviews via different social media sites by sharing experiences of the recent purchases. Businesses are also actively investing in the development of technological networks and platforms that allow customers and users to upload their reviews with a click of a single button. The uses of social media technology and the technology itself are becoming more sophisticated. As a result businesses which use social media to affect their revenue results have to quickly evolve so that they can watch the trends and find innovative and creative ways to integrate the trends into their own online marketing efforts.