Awhile back I attended a copywriting workshop where the instructor proposed a question regarding the constant evolving marketing industry and technological advances. As he went around the room seeking an answer, he wanted our input on what we thought was the best business to consumer strategy. While I looked around, I could see people staggering to his question unable to provide a solid response realizing that perhaps it was no longer so easily defined… As we all further discussed this, the only concrete observation we were able to conclude with indicated that companies are now more than ever investing in 360 marketing and incorporating new nontraditional media channels. Social media and digital distribution are becoming a necessity as they are now greatly integrated with TV and print in attempts to continuously engage the public and acquire every possible wandering eye (and finger) …

So which one is most effective? Well that’s yet another question to which the answer is not straight forward but speculations often lead in the same direction. The speed in which trends evolve on the internet can often be baffling; however, with more and more Canadians increasing their time spent online specifically on social media websites, social media marketing is definitely experiencing a steady and fast paced accumulation.

Marketing Magazine hosted a study which found that social networks get a lot of press and are becoming the dominant communications tool therefore making the increasing concentrations of people at these types of websites very attractive to online marketers and businesses. For example, 56% of all online Canadians now have a social network profile up from 39% just 18 months ago and of those with a social network profile, 85% are with Facebook.

“As the consumer continues to spend increasing amounts of time in the digital world, businesses and marketers are paying increasing attention to the Internet,” says study author Mark Laver. “However, online social networks tend to be extremely personal and this creates a dilemma for marketers and businesses—how to communicate in a personalized setting without upsetting the target audience.”

This leads us to the next question:

How (and why) should marketers use social media to their advantage?

Benefits of Social Media Marketing

More online conversations about your brand
A successful Social Media Marketing campaign leads to a lot more talk about brands online. Viral is effective – if your message works with the users, they will spread your message more productively than tradition methods.

Quick turnaround
Hitting a front page of major social video, news and bookmark sites will send you huge amounts traffic almost instantly. This doesn’t mean the traffic will equate to conversions, but it will generate momentum in the right direction.

Low costs
A social media marketing strategy may provide a partial or full replacement of traditional advertising and marketing at a fraction of the costs.

Impact on search engine rankings
Social media campaigns bring large amounts of “backlinks” (any link received by a web page from another web page) that benefit rankings in search engines.

Compatible with traditional marketing
You don’t need to abandon traditional marketing methods – social media campaigns can be run complimentary along side traditional marketing and advertising, intensifying the results.

The power of recommendation
People would rather purchase from a company that’s recommended as opposed to a  faceless company. Viral and social media heighten the influence and play a vital role in the buying process.

Getting around “ad blindness”
Former more traditional online advertising methods such as banner ads are replaced with more sophisticated social media marketing such as video, presenting effective and engaging campaigns with top results.

Although this may not directly answer the question of the best way of reaching consumers today, it’s certain a successful social media campaign is a necessity and key in brand exposure and growth for a business. Alongside effective reach for a fraction of traditional advertising costs and effort, social media can also provide large scale market research and product refinement ideas. It’s definitely not the money, but the content marketing mindset and innovation that separates great companies from the mediocre.

Extra sources: Social Media Trader