SCHOOL OF Western Sydney University VietnamASSIGNMENT COVER SHEET STUDENT DETAILS Student name: Nguyễn Lê Minh Ý Student ID number: WSU21000137 UNIT AND TUTORIAL DETAILS Tutorial group:
Trang 1SCHOOL OF Western Sydney University Vietnam
ASSIGNMENT COVER SHEET
STUDENT DETAILS
Student name: Nguyễn Lê Minh Ý Student ID number: WSU21000137
UNIT AND TUTORIAL DETAILS
Tutorial group: Academic English Tutorial day and time:
Lecturer or Tutor name: Gabriel Ryan
ASSIGNMENT DETAILS
Title:
Why is social media marketing an essential tool for businesses to survive in today's online business market?
Home campus (where you are enrolled):
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been signed.
Trang 2In this day and age, due to the development of technology and the internet becoming more accessible, social networks have become popular with many people in the world In the 21st century, thanks to the rise of social networks, social media has become an integral part of marketing strategy According to Chris
Porteous (2021), nearly 97 percent of Fortune 500 companies utilize at least one social media channel to promote their efforts and establish constructive contact with stakeholders, according to data from 2018 Furthermore, as of 2021, there are approximately 3.78 billion social media users worldwide, up 5% from
2020 That shows, social media marketing is being prioritized by businesses to use in business, although many negative opinions may occur, many people believe that social media marketing will bring many benefits for both the companies and the customers To prove it, the interaction with the target market,
customer acquisition, product improvement and cost effectiveness will be analyzed before conclusion is drawn
First, talk about interacting with the target market According to Rebecca Riserbato (2020) , a social media target audience is a defined set of people to whom you wish to reach This can be based on age, job title, income level, education, geography, or behavior, among other factors People that are most likely to be interested in your goods make up your social media target audience Defining a target group on social media
is comparable to creating a buyer persona for your company and will aid in developing brand guidelines This is important because you can communicate with your audience in their own language, increase their likelihood to interact on social media, develop brand loyalty and ultimately make a purchase of your goods Your social media target audience should be extremely specific and detailed, just as the guest speaker advised us on that immersive weekend Therefore, you will not inadvertently exclude people who may be interested in your goods Ultimately, social media target audiences will help you effectively market your products and prioritize the audience you're targeting Let's look at how to discover your target audience on social media now that we've covered what a social media target audience is and why it's useful
Next, source new customers through social media marketing Based on Allison Davis (2014), focusing on the people who already know you well is the best method to establish an active and engaged social media audience You may increase your audience and build great relationships by sharing information that is relevant to them and taking the time to communicate with and respond to any comments you get in the works The way to find customer sources is arranged in the following step Identify a target audience, you
Trang 3can quickly see which social networks my consumers use if you find people using these terms You can also specify the type of information they prefer, as well as the most appropriate time and frequency for posting This makes it much easier for you to reach out to my audience on social media Followed by searching for
#hashtags and related keywords, you may also use hashtags to locate influencers you should like and
follow Influencers are specialists on themes relating to your industry who frequently have a huge
following By interacting with them, you can reach a broader, similarly focused audience Furthermore, engaging with a relevant audience is an important aspect of the process After you've found social chats that are relevant to your business, you can begin engaging potential customers and sharing their expertise Make
an effort to contribute to the conversation without disturbing it Find ways to share your thoughts if people are sharing and commenting on news about your company If someone asks a question that you know the answer to, offer to assist Finally, by utilizing the appropriate calls to action, all of your efforts in locating and communicating with potential clients on social media should result in the acquisition of new customers Fans and followers have increased It's critical to add a clear call to action as you begin connecting with your new audience to assist move interactions beyond social
Furthermore, using social media to improve response is essential According to Vu Tham (2021), social media platforms make it easier to give and receive feedback Customers can respond quickly to you if they have any concerns or problems with what your company has to offer Customers have a fast and accessible opportunity to voice their feelings on social media, and businesses have a chance to respond Businesses can receive complaints and resolve client concerns more rapidly with such a platform Besides, how you handle customer complaints is also very important Based onVirTasktic blog (n.d.), all eyes are on you when a customer calls you on social media A negative comment can be turned into a positive social media feed depending on how well you handle consumer concerns and how soon you respond These kinds of interactions can help you retain existing consumers while also attracting new ones You show present and potential clients that you care by not dodging and taking control of the situation
Finally, social media marketing is more cost-effective than other forms of marketing According to Digital School of Marketing (2021), the majority of small firms are cautious about the marketing methods they spend on When you're working with a limited marketing budget, it's critical to spend it properly in order to get the most bang for your buck Social media marketing is a low-cost strategy It's also one of the most
Trang 4adaptable techniques for small businesses to reach their target audience and increase sales over a specific time period That's why 97 percent of marketers use social media to communicate with their customers Managing social media accounts is a cost-effective way to promote your company's online presence through media marketing campaigns Because it does not require a huge investment, small businesses competing with well-known brands can gain from social media
In conclusion, the importance of social media marketing is an indispensable tool of every business It is believed that interacting with the target market, finding customers, improving response, and being
affordable are the right marketing strategies for companies today Businesses are gradually prioritizing marketing strategies in their development plans Therefore, growing businesses should actively invest in a social media strategy to grow and thrive in the future Besides, it is necessary to devise a methodical and effective strategy
References
1 Lawler, B (2021, October 29) How Social Media Marketing Is Cost Effective? Read more |.
DSM | Digital School of Marketing.
https://digitalschoolofmarketing.co.za/blog/how-social-media-marketing-is-cost-effective-read-more/
2 Porteous, C (2021, March 18) 97% of Fortune 500 Companies Rely on Social Media Here’s
How You Should Use It for Maximum Impact Entrepreneur.
https://www.entrepreneur.com/article/366240#:~:text=As%20of%202018%2C%20nearly%20 97
3 Riserbato, R (n.d.) What a Social Media Target Audience Is and How to Find It.
Blog.hubspot.com.
https://blog.hubspot.com/marketing/social-media-target-audience#:~:text=A%20social%20me dia%20target%20audience%20is%20a%20group%20of%20people
Trang 54 Vai trò của tiếp thị truyền thông mạng xã hội trong kinh doanh - BigAds (2021, October 1).
https://bigads.vn/vai-tro-cua-tiep-thi-truyen-thong-mang-xa-hoi-trong-kinh-doanh/#:~:text=P h%C6%B0%C6%A1ng%20ti%E1%BB%87n%20truy%E1%BB%81n%20th%C3%B4ng% 20x%C3%A3
5 Virtasktic (2018, September 5) Social media marketing 101: Why responding to social media
comments is so important - virtasktic VirTasktic.
https://www.virtasktic.com/social-media-comments/
6 A Simple Strategy for Finding New Customers on Social Media (2014, October 9) Constant
Contact https://www.constantcontact.com/blog/find-customers-on-social-media/
ARO 00380 08/15