Although “word of mouth” once greatly influenced the way customers obtained the information they needed to select products and services, social media has evolved “word of mouth” into a marketing opportunity with more reach and more dominance.
According to a Nielsen report in 2015, 83 percent of consumers trusted recommendations from friends. In fact, the study found that most of the consumers took action based on those recommendations. That far exceeds the influence of TV ads and newspaper ads. Facebook has continued to grow over the past few years and is approaching nearly 2 billion active users. As of March 2018, there were 1.45 billion daily active users on the site. In 2017, there were 328 million Twitter users worldwide. Social media isn’t just a phenomenon that merely attracts younger demographics. In 2018roughly 68 percent of U.S. adults now report that they are Facebook users. In addition to this, 41 percent of those 65 and older are actively using Facebook.
And social media isn’t just a phenomenon that merely attracts younger demographics. In 2005, 6% of those aged 50 to 64 used social networking sites. That percentage now stands at 60%. And for those aged 65 and older, that percentage has grown from 1% to 43%.
Thus, in today’s marketing environment, social media presence isn’t merely a “niche” marketing option – it’s a necessity. As a result, it has fundamentally changed the way in which companies communicate with the public. Marketing is no longer a one-way communication process, but instead focuses on two-way conversations.
There are important caveats to keep in mind. Although posting to social media sites doesn’t require spending a lot of money, it isn’t “free.” And you’ll need to devote a significant amount of time generating relevant content to post and evaluating how well your social media campaign is meeting business objectives.
Social media keeps friends connected so quickly and so comprehensively that even if you don’t contribute content, you’ll at least need to “listen” to what’s being said about your company, your brand, and your industry.
But to fully participate in social media, you’ll need to adopt some best practices, which includes setting objectives, developing strategies, selecting your audience, deciding on appropriate social media sites, and executing your plan.