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What is Social Media?
Social Media is a type of media in which information is disseminated through social interactions. It uses web technologies and the power of social networks to transform static broadcasts into dynamic broadcasts. It gives the opportunity to lifelong content consumers to become content creator. The creation and exchange of user generated content by social media gives new dimension to the study of consumer behaviors, usage patterns and works as a great platform between the consumers and the creators of information.
What is Social Media Marketing?
Some companies like Dell (ideastorm) and StarBucks has been successfully using the web to generate ideas and encourage discussions. Krafts Food Australia used online poll in 2009 to rename its product Vegemite iSnack 2.0. It is evident from the trends that the influence of social media on consumer buying behavior is increasing. Many companies and brands (e.g. Jet Airways, Cleartrip) in India has started to maintain and update their social profiles on various social networks. Technically speaking, these are methods of promotion, then you might wonder what is social media marketing?
Social Media Marketing creates an environment in which user interactions are encouraged. It is an effort undertaken by the company to devise strategy to promote their products/services, increase brand awareness and manage conversations with their consumers using their website, blog and social networks like twitter, facebook and linkedin. If we compare the cost of reach for campaigns carried out by conventional mechanisms and by social media, we will find out that it is cost effective to use social media for promotion and creation of buzz. The second biggest advantage is that the contents are created and shared by the users, so receivers do not take it as a spam as they would in the case of email campaigns sent by companies. Social Media Marketing can rightly fit into the budget of companies of any scale, be it startups or big enterprises.
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