Big companies nowadays are utilizing social media marketing as one of their primary advertising tactics due to its wider audience reach and cost-efficiency. Companies are able to further penetrate their existing markets and reach out to entirely new ones, thus rapidly expanding their brand awareness for a relatively nominal investment.
Utilizing social media marketing a huge way for small companies to move toward their goals of success. Using social media as a form of advertising and a means of enlarging customer reach enables small companies to also become big brands online. Not only do they solidify their branding within the minds of their existing clientele, but they also begin to achieve recognition from new potential customers, thus increasing their online influence.
But, how do companies become a big brand using social media? How do they go about achieving greater results for less money?
One way is through word-of-mouth marketing. Any business will agree that the most cost-efficient form of advertising is word-of-mouth. The transfer of information from one potential customer to another is much faster than any other form of advertising because people trust personal recommendations. In addition, word-of-mouth advertising requires very little monetary investment because companies basically just have to initiate what they want to have talked about and then take part later by participating in the conversation once it has developed.
Any company can now become a big brand thanks to the almost limitless scope of people involved in word-of-mouth marketing. Let’s say, for instance, a current client tells a friend about their experience with a company they’re working with. That friend shares the information about the brand with a co-worker, who then goes on to share it with his family and friends. As the circle starts to expnd, more and more people are talking about it, and eventually, the brand becomes bigger.
There are also many brands that are becoming bigger online simply because people love them. If a person comes across a brand and falls in love, they start to talk about the brand, share links to its website, etc. The greater the online presence of a brand in the various social media networks, the greater its chances are of becoming bigger because people will have quick accessibility to it when they want to find more information.
With this type of word-of-mouth online marketing, social media serves as the primary tool for implementation. People use Twitter and Facebook to share their personal experiences with a brand, and when they do, their online connections start to become aware of it too. What makes this type of marketing so cost-effective is the fact that, aside from the initial investments into reaching out to a base of people to start a conversation, very little additional money is required. People who love the brand begin to advocate it for free, and your costs quickly shrink to mere maintenance.