What Is Social Media Marketing?

More and more people are asking  "What Is Social Media Marketing? What is all the excitement about? What happened to traditional Marketing activities and how are they changing? What can I do with my business to really promote my product or service? What can I do right now for my business?

Social Media defined from Wikipedia encyclopedia:

"Social media are media for social interaction, using highly accessible and scalable publishing techniques. Social media uses web-based technologies to turn communication into interactive dialogues. Andreas Kaplan and Michael Haenlein also define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, which allows the creation and exchange of user-generated content." Businesses also refer to social media as consumer-generated media (CGM). A common thread running through all definitions of social media is a blending of technology and social interaction for the co-creation of value."

The buzz around social media marketing is based on the fact that it is the consumer's influence that is either promoting or killing the product or service.  It is no longer a PR firm, a banner or blatant advertisement.  Traditional marketing activities have changed.

The main problem with social media marketing from a business perspective is that it can be incredibly time-consuming and the ROI is difficult to measure. It is based on Return on Conversation. Social media marketing campaigns are not one time deals. They need to be nurtured over time.  Even small businesses and organizations however can truly benefit from social media.

The first suggestion I give anyone who wants to start with social media activities is to begin to listen and research where their audience is. Get comfortable with social networks that have to do with your product.  Visit forums and message boards. Read blogs. Read tweets. Join groups. Have an active and real interest in these. Do your research.  Look at what your competitors are doing. Look at what companies of your complimentary services or products are doing. Are they on Facebook, Myspace, Linkedin? Are they tweeting? Do they have blogs? What are they saying and better yet, what are their clients saying or complaining about?

The second suggestion I give  is to really keep a clean, detailed and updated databank of your clients. Your satisfied customers will be your first step to outreaching to new potential clients. They will provide the word of mouth you will need as a jumpstart.