solved What are the benefits of marketing with social networks? Provide

What are the benefits of marketing with social networks? Provide examples in support of your response.
Video below

Reply:

Peer 1
Efficiency, affordability, and building loyalty can be a few benefits of marketing with social networks. Social networks tear down the wall that separates businesses from people. Following different businesses’ social media networks and updates can give consumers a feeling of loyalty and ownership that a business might not garner without a social media presence. Marketing on social media can be something as easy as having a contest that creates a new name of a particular product or service. It gets the people involved and they get drawn into the contest and share it with friends or spread the hashtag of the name they want, and then when a winner is revealed they feel like they were a part of the process and in that there is a sense of loyalty since as a team, we all created this new product name and have to try it out. All the company had to do was create the right posts online. No paying for printed media and no high-priced commercials with big celebrities. There is a lot of free advertisement online that actually reaches the targeted audience, since it is that audience doing the sharing and spreading of the information.
Building up a brand that no one has heard of can be hard but social networks create an efficient way to find your target audience and market directly to them. Then the brand grows and customers are spreading the news about the brand by sharing that information with others who might be interested. For example, a new restaurant created a burger and wanted customers to choose the name of that burger online through polls and comments. They create a Facebook post saying “pick the name of this signature burger, Like for Double Trouble, Share for Godzilla, comment below to let us know your own suggestions, stop in and use the phrase ‘contest burger’ to get 10% off your purchase”. People see this and no matter which response they use it ends up in their friends’ timelines as well. Now their friends see it and engage with the post also and it starts to go viral. Even if people are only interested in providing input, their interaction might lead to their friends’ becoming interested in the place. All based on one post that took 10 minutes to perfectly plate the burger and create the post, versus weeks of preparing and planning flyers, advertisements, radio ads, commercial time, and all of the money it takes to do all of that. The business can now promote their products and engage with customers and potential customers in a way that could not be done before.
don
Peer 2 below
There are many benefits of marketing with social networks. Some benefits include:

Building a brand that customers can trust. By utilizing social media, you can use images and copywriting to build a unique brand that stands out from the rest of the competition, and you can leverage video marketing. Video marketing has been known to be the quickest way to convert followers to customers because you can build the know, like, and trust factor, rather quickly, in comparison to written media. By incorporating videos, companies can increase their conversions by up to 80% (Marchant, 2021).
Organically reaching your target audience, or customers, without paying for online advertisements. Before social media companies would utilize radio ads, billboard ads, newspaper ads, and more. Now you can, for free, market your business online to your ideal customers on a global scale.
Utilizing paid advertisements to generate more leads and customers. Although organic online marketing can be very beneficial, social media algorithms can make companies’ content not seen by all of their customers. Paid advertisements such as Facebook and Pinterest advertisements can increase company sales and increase brand awareness.
Increasing your reach of customers can increase sales. When utilizing social networks, you can get your product, or service, in front of thousands of people across the world, especially if a company utilizes multiple social media platforms. You’re not limited to your local community, especially with a brick-and-mortar store.
Utilizing an analytics tool, such as Google Analytics, to keep track of metrics, engagement, and conversions from social media content. This can help companies to make improvements to improve their brand, and boost sales.

In summary, there are a plethora of benefits to marketing with social networks.
Source: https://digitalagencynetwork.com/how-videos-can-in…