It is becoming clear that social media is now huge, and it is here to stay. Business sees the potential customers that can be reached by using social media, but at the same time does not know for sure how to use it. More than half of businesses in the nation are now using social media in one or more ways. Most of these companies are not using social media correctly. The companies that are benefiting from social media clearly have different methods and a different approach. It is now becoming clear that there is a right way and a wrong way for a business to approach social media.
A recent study of over 2,000 companies using social media showed that only 12 percent thought they were using it in an effective manner. This clearly shows that not only do companies have a problem using social media correctly, but they have no idea what they are doing wrong. One of the biggest issues with business is the inability to quantify their results. How to measure return on investment is near impossible. It is easy to calculate how much money is being spent on social media, but how much revenue is being generated from it is difficult to estimate.
However, the companies that are benefiting from social media are aware of their success. They may have difficulty in putting a specific revenue number on the influence of social media marketing, but they are succeeding. What are they doing different from other companies? Marketing analysts say that it is the way they approach this new technology. Instead of advertising to a particular audience, they are using various types of social media to have a dialogue with their customers. This is a two-way conversation in which companies listen to their customers and give their opinions as well. This had led to product improvement and innovation seldom seen in the past. Of course, customers love to be heard and companies build up goodwill as well as brand awareness.
Another aspect of social media marketing is that customers have become mobile. They must be reached on devices such as smartphones or touchpads. This new mobile marketing is important because messages to the consumer must be formatted in a way they can access with a mobile device, and the consumer must be able to respond to a message in order to begin a dialogue with a company.