Social media in the marketing mix
Marketing is the most strategic operation companies undertake. Marketing as strategy involves the incorporation of the general feeling of the market or just the target market. Over the years, marketing has become the operational tool with the largest advancement in the corporate world. Organizations achieve a better competitive advantage by using the most suitable marketing strategy (Rheingold, 2000)1. Years back the word of mouth strategy was the best marketing tool organization tool in the corporate world. However, this has changed significantly. With greater and stiff competition in the market, companies have developed other marketing strategies to use in the marketing mix.
In the paper I will focus on Adam Fabrics. This is a cloth line organization which targets the young population. The company’s products are line with the trends at the fashion world. The objectives of the company are to provide the most fashionable, recent and original clothes designs to the young population. With the company’s target market being the youth, there was the need and urgency to incorporate the social media into its marketing mix. The previous financial year has recorded significant low sales and the company needed a new marketing strategy. The word of mouth (WOM) strategy made the company employ many marketing staff but the sales were not satisfactory.
The most significant strategy is the use of the social media. The social media has become the most influential tool in the marketing mix. This strategy has been attributed to the World Wide Web generation. This generation depends on the internet for most of their services. The social media has also become the best location to interact with potential consumers. This technological has forced all organization to cash in on this gold mine. This gold mine has changed the whole perspective on the marketing mix. All companies in this century depend on the social media for over 50 percent for their marketing. Social networks such as Twitter, which has earned the lion's share of interest in this front, have become a prominent social media tool that companies use to communicate with its target consumers (Weinberg & Pehivan, 2011)2.
As a marketing manager, the use of the social media as a marketing base would be the best strategy in my organization. Incorporating the social media in the marketing mix greatly depend on the strategy my organization uses in it marketing mix. Regardless of the strategy, incorporating the social media in my marketing mix would be a compulsory strategy.
An additional advantage could be gained by posting pictures and videos of the company products in these social Media. These pictures should include a brief and convincing explanation on the products advantages and pricing. Offers and incentives would also help in marketing the company’s products. Creation of a web page would also be advantageous to the company’s marketing mix. The creation of the web page is a cheap process that involves proper arrangement and alluring to the target market. The web page would be a display of all the company’s products, the prices of the products, offers and incentives the company’s and a brief preview of the company’s policies and history.
However; the cost of the incorporation of the social media into the marketing mix will be accurately budgeted. This is due to the higher expenses involved in this type of marketing strategy. An accurate and fixed budget will ensure the marketing maximizes on the set aside funds to create an outstanding social media impact to the company’s target market. In the allocation of funds in this marketing strategy an analysis of the effectiveness of each social media tools is mandatory. Depending on the effectiveness of each, then allocation of funds will be strategized (Rheingold, 2000)4. For instance, if Facebook generates most of the company’s online customers, most funds will be directed I maximizing the opportunity at this front.
In measuring the effectiveness of this type this method of marketing, the number of sales at the end of the financial year will be compared to the previous financial year. Additionally, the sales acquired through social media should be categorized depending from which social media tool mad the highest impact. The effectiveness could also be measured through the number of consumer appreciation the company receives from the target market. The satisfactory comments from the target market will give conclusive evidence on the effectiveness of the social media strategy (Rheingold, 2000)5. Additionally, the marketing staff should also give am opinion on which strategy suits them in terms of cost, ease and results. From this effectiveness report from the consumers and the marketing team will provide more suggestions on how to make this tool more efficient and successful.
References
Armelini, G. & Villanueva, J. (2011). "Adding Social Media to the Marketing Mix". Deep Insight.
Rheingold, H. (2000). The virtual community: Homesteading on the electronic frontier. London: MIT Press
Weinberg, B. & Pehivan, E. (2011). "Social spending: Managing the social media mix". MA: Kelly School of Business.
