Sunday, June 13, 2010

Facebook, A Social Media Used as Marketing Strategy

Social Media Marketing

Social media marketing benefits organizations and individuals by providing an additional channel for customer support, a means to gain customer and competitive insight, and a method of managing their reputation online.
In the emergence of Web 2.0, the internet provides a set of tools that allow people to build social and business connections, share information and collaborate on projects online. The growth of social media has impacted the way organizations communicate with their customers.

Social media is information content created by people using highly accessible and scalable publishing technologies that is intended to facilitate communications, influence and interaction with peers and with public audiences. This is typically done via the Internet and mobile communications networks. Today this practice is being enjoyed by executives and professionals for brand exposure and marketing.

Facebook, A Social Media Used as Marketing Strategy

Facebook is a social networking website launched in February 2004 and operated and privately owned by Facebook, Inc. Users can add people as friends and send them messages, and update their personal profiles to notify friends about themselves. Additionally, users can join networks organized by workplace, school, or college.
According to Wikipedia, Facebook decided to use these demographics to their advantage. Facebook legally owns all the rights to the information that is posted on their website, and created an advertising program that targets the users of Facebook individually by grouping that information together and targeting each individual person with advertisements that will catch their eye.

This strategy created a buzz in the advertising world. Previous to this type of advertising, online advertising had not been very effective due to pop-ups and banner's lack of substance. Most people found these annoying and or distracting when using the internet. With Facebook targeting each individual on its website, 400 million users strong, it created a target market for every company. Therefore if a bridal company wanted to advertise on Facebook they could literally make sure their ads were only seen by those whose status says engaged or dating depending on how broad they wanted to go. This allowed Facebook to start using the pay-per-click strategy that many advertisers’ shy away from because of the lack of impact on internet users.

With the pay-per-click strategy in effect for Facebook, every time a Facebook user clicks on an advertisement, that company pays Facebook for the ad. Studies have shown that over sixty nine percent of online shoppers use social media like Facebook not only to reach out to people, but also to see what's popular and what are some of the in things. The original pay-per-click strategy was not effective because users did not want to be taken to another page and look at something that did not appeal to them. With Facebook's new targeting system their ratio of clicks per user is astoundingly higher than any other competitor, even Google. This makes sense since the ads appeal to the fact that they are engaged or have an interest in fashion.

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