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Social Media Marketing is the type of marketing process carried out on different social media platforms. SMM is the buzzword of current times due to the rise of digital marketing globally. Social media marketing is an integral part of digital marketing and proved to be one of the effective ways of new-age marketing. According to research more than a billion people are active on social media platforms like Facebook, Instagram, and Twitter. The aspect of social media marketing is realizing all the popularity and taking a key part in academics too.
Businesses use internet-based resources to promote and communicate their products and services. It ensures a lot of contribution for the utmost success such as unlimited accessibility and interactive mode of communication. On the other hand, SMM ensures instantaneous and transparent response and feedback which helps the business to excel in their field. Social media marketing also breaks the aspects of traditional marketing strategies, instead, it generates enormous awareness of the brand among the viewers. The efforts and strategies of SMM together help the business go a long way in fostering brand value without spending a fortune.
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The KPIs or Key Performance Indicators are integral elements of social media marketing. These are primarily the measurable values that provide you with a clear picture of the success of your marketing efforts for attaining key objectives. There are three types of KPIs in SMM such as engagement metrics, reach metrics and conversion metrics.
The likes, comments, and shares are the engagement metrics that are available on every social media platform. The engagement metrics revolve around average engagement rate, amplification rate, and virality rate to provide the complete story of customer engagement. The average engagement rate helps in monitoring the interaction behaviour with the marketing campaign and the amplification rate defines how the followers share the content. Lastly, the virality rate is all about accessing the potential of the shared content to go viral.
Reach Metrics helps in accessing the number of people who view your content other than the followers. It features common tools like post outreach, audience growth rate, and social share of voice. Post outreach displays the number of people who already viewed your post after it got published and the audience growth rate helps in accessing the speed of the growth of your followers. On the other hand, the social share of voice displays the total number of times viewers stated your brand.
Social media marketing offers unlimited access and reaches a million people within a few days. It advertises the products and services on internet-based resources and manifolds the views instantaneously unlike other promotional tools. SMM is a cost-effective way of marketing online but ensures a higher return on investment. it is sure to reach N number of potential customers with a single marketing campaign. On the other hand, social media marketing provides interactive communication which offers a better understanding of consumer’s perceptions along with instant feedback.
There are primarily two types of social media marketing techniques such as passive marketing and active marketing. Passive marketing is a kind of indirect marketing approach where businesses or individuals are not directly spending their money on marketing their brand on social media. It is a low-cost form of social media marketing. On the contrary, active marketing is the direct marketing approach where businesses spend money to advertise their brands through third parties.
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