02 Mar How Did Social Media Marketing Begin?
Even up until a decade ago, there was no market for social media advertising. The same market now generates billions of dollars in revenue. When social media was making an entry into our lives, marketers wrote it off as another fad. However, social media usage only strengthened and gained elbow space in society. Marketers soon realized its potential for promoting businesses without spending millions of dollars. Social media was here to stay. Companies around the world started devising social media marketing strategies to wield the power it allowed them to reach far and wide to an audience base that had until then been inaccessible to them.
The origin of social media
The small share of people who had access to the Internet back in the 70s and 80s spent limited time on online forums and dating sites such as Friendster and Livejournal. The dot com bubble in the late 90s-early 00s made way for social media marketing. Initially, it started as search marketing. As search engines such as Yahoo and Google evolved, businesses comprehended the need for a web presence in the form of their company website. SEO became a thing.
Next, blogs grew in popularity. Marketers now realized the need for content marketing. A new way of conducting marketing exercises was envisioned with this. Customers were no longer blatantly made the target of advertisements. Instead, a subtle promotional message was inserted into the content shared with the audience.
When Facebook, MySpace, and Hi5 came into being and gathered steam. Companies thought it’d be favorable to create profiles on these sites to engage with their multiplying user base.
Social media marketing today
Social Media today not only helps promote the products/services of a business – it also helps with the branding, generating new leads, retaining customers, conducting research and selling the company offerings online.
It doesn’t matter whether you run a start-up or a multi-national corporation, social media marketing can benefit you equally. It brings down your overall marketing expenses, allows you to access the results of your marketing efforts more immediately, reduces the time required to market your products and enhances the effectiveness of your campaign.
Sure, we couldn’t have imagined the role social media marketing would play in making/breaking a business even as early as the 00s, but here we are. Any company would be foolish not to leverage social media to market their products/services now.