Social Media Marketing is the Most Important Outlet for a Business

Currently, marketing through social media is the most important outlet for a business in the 21st-century. The rise in the number of active social media users over the past two decades can be attributed to increased access to the internet, smartphones, and personal computers. Also, individuals and businesses can choose from numerous social networking sites, including Facebook, Instagram, YouTube, and Twitter. Therefore, sufficient investment in online and social media marketing is the best strategy to reach and attract a larger target audience.

            The ever-increasing number of social media usage offers a business an opportunity to reach more customers and expand its market share. Studies show that more than 60% or more than half of the global population has access to the internet and is actively using social media (Shareef et al. 2019). Facebook and YouTube have about 2billion users each, while Instagram has more than 1 billion and Twitter around 300 users. For instance, billions of active social media users can view viral social media advertisements and even share them with their friends and loved ones. Adequate penetration in the local and global markets through social media marketing enables an enterprise to expand its customer base and increase sales.

            Besides, social media marketing is crucial in building brand image and customer loyalty through strategic marketing communication and effective consumer engagement. Research shows that social media marketing is a crucial strategy because 70% of social media users rely on the information they gather from such platforms before buying products (Shareef et al. 2019). Small and medium-sized enterprises (SMEs) can share information about offers, products, and services with millions of customers on social media. Social media also facilitates online customer care service where customers can ask questions, report problems, and complain about defective goods or poor services (Bilgin, 2018). Therefore, marketing through social media fosters a strong commodification and meaningful relationship between the brand and the customer, boosting the brand image and customer loyalty.  

            Furthermore, social media has a strong influence on consumer’s purchase intentions. The numerous social media networking sites usually connect billions of internet users who generate and share educative information about products, services, and brands. Research shows that more than 78% of consumers purchase products and services depending on the recommendations or information they got from social network sites (Poturak, & Softic, 2019). Therefore, advertising on social media is crucial because such platforms are trusted sources of information used by customers when making purchase decisions

            Decisively, adequate investment in social media and online marketing is the most excellent strategy to attract a larger audience. A business can access a wider domestic and foreign market with billions of customers through social media. Also, a business can boost its corporate image and customer loyalty through strategic communication and customer engagement. Thus, marketing through social media is the most important outlet for SMEs in the contemporary corporate world because it would reach and attract millions of customers.

References

Bilgin, Y. (2018). The effect of social media marketing activities on brand awareness, brand

image, and brand loyalty. Business & Management Studies: An International Journal6(1), 128-148.

Poturak, M., & Softic, S. (2019). Influence of social media content on consumer purchase

intention: Mediation effect of brand equity. Eurasian Journal of Business and Economics12(23), 17-43.

Shareef, M. A., Mukerji, B., Dwivedi, Y. K., Rana, N. P., & Islam, R. (2019). Social media

marketing: Comparative effect of advertisement sources. Journal of Retailing and Consumer Services46, 58-69.