Websites and Internet tools that allow the sharing of content, images, videos, links, and opinions between users. Social media sites were originally created as a way to get in touch with long lost friends, or to simply follow what your online friends do in their daily lives. Since those early beginnings social media has evolved to a computer based technology that not only assists in building communities, but also facilitates the sharing of ideas and opinions.
Virtually all adults and teenagers in the world have at least one social media account, and because of this social media has become a popular way to sell your product online. Social media advertising can be entirely free of charge or you can opt for paid adverts, making it an excellent marketing strategy for even the smallest of businesses. The power of social media is that it gives businesses the ability to connect with virtually anyone on the planet, so long as they have a social media account.
The role that social media plays in helping businesses in the 21st century is substantial. Not only does it give businesses access to a global customer base, it also allows for ease of communication with existing and potential customers. It also presents an excellent way to collect and analyze data to help develop and focus marketing activities. Social media is not just for selling, it can also be used for special promotions, offering coupons and discounts to valued customers. And it can also be used as a relationship building tool when linked with loyalty programs.
One final benefit of marketing through social media is that research indicates social media users to be younger, better educated, and more wealthy than those who don’t use social media. This translates to great buying power.