Marketing is an important aspect of business that plays a major role in organizational success by communicating the purpose of the business. Marketing plays an important role in influencing customers and directly affects small-medium size (SMEs) companies. Hence, the role of traditional and social media marketing must be analyzed and implemented. Changes in the marketing environment occur rapidly; the business world is not immune to these changes, and technological advancement is among the factors affecting social media marketing. Social media marketing allows companies to work collaboratively with customers and partners to develop the best solutions and fill the existing gap between customers’ demands and companies’ products. Social media is different from traditional marketing because, unlike traditional media, it facilitates two-way communication that promotes a healthy relationship between customers and organizations and propels companies towards success.
Companies have recognized the impact of social media marketing on consumer behavior, and the value of real-time feedback consumers can provide about products and experiences. This process facilitates product advancement and strengthens the company’s position in the market. Similarly, traditional media is expensive and does not allow companies to have direct interaction or two-way communication with customers. Interaction with customers assists companies in creativity, knowledge sharing, and open communication. Some of the discussion tools commonly used are on popular social media platforms. These platforms include Skype, Twitter, Instagram, and Facebook. Social media offers the opportunity for SMEs to gain access to resources that may not be available to them if they do not use social media. Social media is a highly effective and low-cost medium for small companies to gain popularity and improve their business image.
Social media importance is growing, and companies are adopting more social media techniques compared to traditional marketing techniques. Several factors force companies to adopt social media marketing; for example, companies take social media marketing as a low-cost public relation technique. Research has determined the impact of social media marketing on organizations. However, the impact of social media marketing as compared to traditional marketing on SMEs has not been fully realized.
In the past, when technological advancements were uncommon, marketers used traditional media techniques to communicate their products and the purpose of existence to their customers. Some of the traditional media techniques include magazines, newspapers, television, etc. In traditional media, marketers had control of marketing content. Traditional media is widely used by multiple organizations and considered an effective medium when marketing new services and products. Nevertheless, this does not provide extensive information to customers regarding products or organizations. Currently, television advertisement is among the most used traditional marketing method and earns the highest revenue. According to a survey, approximately 68% of people responded that they take action because of their advertisements on television. Even though social media marketing is taking place rapidly, the importance of traditional media marketing cannot be ignored.
Social media marketing
Social media marketing is slowly replacing the traditional mode of marketing. Social media marketing tools include a website, blogs, Twitter, Instagram, Facebook, Skype, and even YouTube. These social media platforms have gained popularity worldwide, so social media marketing can also be defined as selling and promoting a business and products through different social media sites. Social media now also includes the creation of electronic word-of-mouth. Created in 2002, Facebook is the most popular social media site and is widely used by marketers for marketing purposes. The trend of social media marketing has improved with internet availability. Some of the tools widely used by customers to access social media website reviews include smartphones, tablets, notebooks, and computers.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.