Social media sites and blogs reach 8 out of 10 of all U.S. Internet users. And, 71% of Internet users are more likely to purchase from a brand that they are following on a social networking site such as Twitter or Facebook.
Social media marketing is the use of social media platforms and websites to promote a product or service. Most social media platforms have built-in data analytics tools, enabling companies to track the progress, success, and engagement of ad campaigns. Companies address a range of stakeholders through social media marketing, including current and potential customers, current and potential employees, journalists, bloggers, and the general public. On a strategic level, social media marketing includes the management of a marketing campaign, governance, setting the scope (e.g. more active or passive use) and the establishment of a firm’s desired social media “culture” and “tone.
When using social media marketing, firms can allow customers and Internet users to post user-generated content (e.g., online comments, product reviews, etc.), also known as “earned media,” rather than use marketer-prepared advertising copy.