So far, social media proves to be a new, efficient and relatively inexpensive medium of marketing as it provides direct interaction with customers and consequently, a tighter relationship with them. With just a single click you can publish your message reaching millions of people, anyplace, anytime.
Various studies in the last decade reveal that consumers use social media platforms to make their purchase decisions and discover new trends. In addition, according to sproutsocial.com and statista.com, an increased rate of internet users have a more positive brand impression after interacting with a company through social media.
Amazon.com was probably the earliest contributor for the user-generated product review and rating mechanism in the mid-1990s.
The required steps in the social media marketing strategy are the following:
After selecting which social media platform(s) to invest your presence in, you need (i) to link those platforms to each other, and (ii) to link them to your website. Having a website is a must, since it will provide a destination for your social media followers and an effective measure of your social media platform’s return on investment (ROI).
Creating relevant content that is meaningful, interesting, educational, or entertaining for your audience can effectively grow your target market and increase user engagement.
For example, developing sponsorships and charitable campaigns or offering valuable prizes through polls and contests reinforces sharing, starts conversations, and enables interaction. It is worth noting that visual content is 40 times more likely to be shared on social media than other types of content.1
Volvo Trucks and the Epic Split feat. Van Damme
Leveraging relationships with Influencers (i.e. people who have a greater than average reach in a relevant marketplace) recommending a product to their followers can positively affect brand awareness through consumer perceptions (i.e. Influencer marketing). In 2013, Jean-Claude Van Damme carried out (in one take) an epic splits between a pair of reverse-moving Volvo trucks. This live test was set up to promote the precision and directional stability of Volvo Dynamic Steering. Since a video is not just a visual, the use of the well-known soundtrack by Enya “Only Time” was more than appropriate. As of summer 2021, the video was viewed by more than 110 million people and received almost 1 million likes.