Social Media Marketing (SMM)

Social media marketing (SMM) is the use of social media websites and social networks to market a company’s products and services.” It provides companies with a way to engage with existing customers and reach new ones while allowing them to promote their desired culture, mission, or tone.

Most commonly sites like Facebook, Twitter, and Instagram are used to execute social media marketing.

It is all about meeting the target audience and customers where they are and as they socially interact with each other and the brand.

BENEFITS OF SOCIAL MEDIA MARKETING FOR A BUSINESS-

Social media marketing can help a business in the following ways :-

  • Keep people informed about special events, sales, and other newsworthy events
  • Social media marketing is the most cost effective way to advertise the products which can help in attaining greater returns on investment.
  • SMM opens up doors to tools and tactics that make it easy to warm up a new audience for your business.
  • It allows a business to do a competitive analysis & make the required changes in the marketing strategies of the business.
  • It can help a business to know about the likes, dislikes, tastes and preferences of the customers thereby creating marketing awareness.

CONS OF SOCIAL MEDIA MARKETING-

  • The main problem with social network marketing from a business perspective is that it can be incredibly time-consuming.
  • Given the community nature of social media, businesses must be aware of the PR risks. A public social media page is prone to various risks of getting hacked, negative postings by customers, competitors or ex-employees etc.

 

Thus, in a nutshell, Social media marketing, or SMM, is a form of internet marketing that involves creating and sharing content on social media networks in order to achieve the marketing and branding goals.

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Accounting and Finance for Banking Module A Pdf

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Accounting and finance for bankers all ePDFs are available in our an app. Get them all at https://iibf.info/app

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