Social Media is tagged as next big thing for Marketer. Currently marketers are going overboard with traditional and conventional modes to reach customer. Simultaneously they are testing waters in Digital space. According to some independent researches, in a metro city customer is exposed to more then 100 Ads in a day. If i have to ask you, pls tell me 1 Ad you saw in the morning while going to office. Am sure, you are thinking hard to recall.
Why marketers are desperately looking for new mediums like Digital marketing (Read my post on Digital Marketing), Mobile Marketing or Social Media. Answer is very simple, to break the clutter or in other words to capture customers mind share.
Is Social Media right platform to break the clutter? Answer is yes but at the same time we are killing this platform before its evolution. Let me ask same Que, Pls let me know 1 ad you saw on social media platform today morning. I hope you got the answer.
On many blogs, you might find advertisers complaining that they receive likes/followers on social media but not able to convert them as customers. Infact one of most popular social networking platform has reserved 2nd slot in posts section for sponsored story. You are exposed to so many paid commercials on social media but are these ads relevant to you? What is the basis of showing these ads to you? Is it just to get more Likes / followers or generate Sales for Marketer. If objective is just to get more likes/followers then strategy is right but if objective is to generate sales for marketers then we are missing something.
Situation is similar to one where one of superstar is advertising for shaving cream brand but not even a 5 year kid believe that this superstar will use same brand to shave. Now, you must be thinking that Marketer is wrong in segmentation. Let me assure that advertisers are doing micro level segmentation on social media platform i.e. demographics and mapping interests of users thus targeting to right audience. Recently, one of my friend who is running an e-commerce store told me that she has already spent approx 1 Lac INR by placing Ad on one of leading social networking platform. She received 10k likes/followers on business page but not even a single sale was generated. I told her same thing that her segmentation or targeting is not correct but she showed me segmentation & i was quite amazed with micro segmentation.
Food for thought is if segmentation, targeting & positioning is right then problem lies somewhere else. Let’s understand
As a customer, my behavior on social media platform is different from my actual behavior while shopping. Its a Virtual v/s Real world paradox. Our behavior is not same on Social Media towards product/brand compared to real life behavior. On online platforms, Customer behavior is more influenced by how others are behaving or projecting their personality on Social Media i.e. people in my group. Its more aspirational in nature. In short, Customers are dual personality in real & virtual world. Needs and wants drive customer behavior in real life but aspirations rule on social media. Therefore i can follow or like each & every brand which my friend/s are liking or following, it costs nothing. At the same time in all probability i will not buy the same.
This logic defies the core of segmentation & targeting as customer behavior is not real & influenced by other factors. It mislead the Marketer thus brand can get more likes & followers but without much business success. Right now there is no solution to this problem as Social Media cannot find out purchasing power or needs & wants of customer. To close this post, i would like to add that one of leading e-commerce store has 15 Lac likes/followers on social media but in actual only fraction of them are placing orders. At the end of the day, it doesn’t cost to click a Like or Follow button.
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Your article gives me clarity regarding digital marketing tool. I think in the recent times digital marketing is creating a need for possessing whatever is shown with its graphics and displays. If I come across new innovative product through digital media and if the cost benefit ratio is favorable I will definitely opt for it. The digital marketing seems to be the best media for emerging firms with innovative products keeping their marketing cost lower. The new tools with digital marketing platforms can reach out to targeted audience. Due to saving of marketing cost it will emerge as the best possible media to buy in future..
I completely agree and thanks for sharing your thoughts.