By definition, social media marketing is "the process of gaining website traffic or attention through social media sites." In other words, it is a way to reach out to potential and current customers via the various social media platforms that they use.
So why was the rise of social media marketing so important? For one thing, it leveled the playing field between small and large businesses. In the past, only big businesses had the resources to reach out to a large number of people through traditional marketing channels such as television and radio. In the early days of social media marketing, even the smallest businesses could reach a large number of people with relatively little effort and expense.
Another reason why social media marketing became so popular is that it allowed brands to connect with customers on a more personal level and formed communities that are brand loyal . In the past, businesses were somewhat removed from their customers; there was no way to directly interact with them except through customer service channels.
With social media marketing, businesses could connect with their customers instantly and on a regular basis. This interaction helped build trust and loyalty between the customer and the business but this connection has dwindled in recent years as organic reach on social media platforms has been drastically reduced.
An added benefit of social media marketing is that it can help create "buzz" around your business. If you can get people talking about your business on social media, you are more likely to generate interest in what you do. This interest can lead to more website traffic, more customers, and more sales.
In today's business landscape, brands are facing myriad threats. Chief among these are unsustainable customer acquisition costs, low customer loyalty and low organic reach on social media. The solution? Collaborative commerce, where brands, creators and customer communities are directly connected. Here's why this direct connection is so important.
In traditional commerce models, brands rely on third-party platforms to reach their customers. These platforms hold customer data centrally, making it difficult for brands to cultivate relationships with their customers. Moreover, these platform businesses typically take a cut of any transactions that occur on their site—meaning that brands have less margin to work with.
With collaborative commerce, brands can connect with their customers directly. This direct connection allows brands to collect data themselves and build more intimate relationships with their customers. In addition, collaborative commerce enables brands to reward their most active and influential customers—further encouraging loyalty.
In addition, by owning the customer relationship and data, collaborative commerce gives brands more control over their destiny. They're no longer beholden to the ever-changing whims of third-party platforms.
Collaborative commerce is a direct connection between brands, creators and customer communities. This direct connection is crucial because it allows brands to collect data themselves, fostering more intimate relationships with customers. What's more, collaborative commerce gives brands more control over their destiny—they're no longer at the mercy of ever-changing third-party platforms. If you're looking for a way to future-proof your brand, collaborative commerce is it and you can get a free trial of the Decommerce community module here