Social Media Marketing
As the social networking started growing, the marketers found that this channel has the potential to be utilized for marketing communications in business. In a survey by Marshall Kirkpatrick in 2006, social networking web site has experienced a spurt of growth in their number of visitors.
The number of visitors in social networking sites was increased significantly. Therefore, most of the organizations now are changing their strategy to market their product and services on social networking sites. It is mainly because of the large amount of time which people are spending these days on social networking sites.
According to the predictions made by Suzanne Vranica, (2007), between the years 2007 and 2011, United States’ spending on social networks will grow 180% from $900 million to $2.5 billion. Dana in 2007 also stated that there are hundreds of social network sites, with various technologically afford, supporting a wide range of interests and practices.
Based on studies conducted by E-marketer in 2008, nearly six from ten users of the United States are now communicating with business and believe that it must interact with their consumers and deepen the brand relationship via online social networking.
Therefore, social networking can be an important tool for businesses to establish brand presence, create brand awareness, as well as reduce advertising costs. It also creates lots of opportunities for the business to grow and get involved in public while continuing to find ways to advertise on social networks like incorporating mobile handset devices into the marketing model.