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Social Media Marketing, Truth and Lies
Social media marketing seems to be the latest buzzword for anyone looking to increase their online presence and sales, but is social media marketing (SMM) really just hype?
Today, SMM companies are popping up telling anyone who will listen how important social media like Facebook, Twitter and YouTube are to your business, but for the average SME, marketing on social media is Does it really live up to all the hype? Is it really worth spending a fortune to hire an SMM company? Has anyone actually done research on this before they hired someone to set up a Facebook business page there? Some SMM companies are building things like Facebook business pages (for free) for $600 to $1,000 or more and telling their clients they don’t need a website because Facebook is the biggest social network in the world and everyone has it Facebook account. Now, while it’s true that Facebook is the largest social network in the world, and yes, Facebook members are potential consumers, the real question is will they actually buy? Social media marketing companies love to point out the positives of social media, like how many people use Facebook, or how many tweets have been sent in the last year, or how many people have watched a YouTube video, but do you know the big picture? I once sat next to an SMM “expert” at a business seminar who was blaming everyone who could hear him on the amazing benefits of building a Facebook business page for small businesses (with him of course) and selling on Facebook . So, intrigued by the above “expert” advice, I looked him up on Facebook, only to find that he only had 11 Facebook friends (not a good start). So being the research freak I am, I decided to take a closer look at what SMM does in sales to see if it actually works, who does it work for, and if so, why does social media marketing work for them? Should businesses be so reliant on social networks for sales?
As a web developer, when a potential client says having a website sounds great but they have a Facebook business page and are told by various sources (ever present but anonymous “they”) think social networking is the thing to do, but After discussing their needs, it becomes clear that these potential customers don’t actually know why they need social networking or SMM to generate online sales, they just want it. For small and medium businesses, I always recommend building a high-quality website on any type of social network, why?Well, it’s really easy because social media is Social media and social networks are Social they are networks no Business media and business networking (more like LinkedIn). I know it sounds simple, but it is, and it’s backed up with statistics. In fact, what social media marketing doesn’t tell you is that Facebook is a social network and not a search engine, and that despite roughly the same number of Facebook users and Google users, people don’t use Facebook the way they use Facebook. Search engines such as Google (accounting for about half of the search engine market), Yahoo, and Bing search for a business or product. They use it to keep in touch with family and friends, or to get news and entertainment. In a recent study conducted by the IBM Institute for Business Value, around 55% of social media users said they never interact with brands via social media at all, and only around 23% actually use social media to engage with brands on purpose . A majority (66%) of all those who do use social media and interact with brands, intentionally or not, say they need to feel that a company is communicating honestly before engaging with them.
So how do you use social media marketing? Is it even worth doing?
Well, let me start by saying that having a well optimized website will still get you more business than social media in most cases, especially if you are a small to medium local business because more of people who type “hairdresser” port Macquarie into search engines like Google, Yahoo, and Bing more than they do on any social media site, and if you don’t have a website, you’re missing out on all this potential Business. However, despite all the (not great) stats, I still think social media use for businesses is still a good idea, just not like many SMM professionals today, why? Because it apparently doesn’t work as they claim. Basically, SMM companies and businesses in general saw a social network like Facebook as a ripe new market, and when Facebook started attracting millions of users, PayPal co-founder Peter Thiel invested $500,000 to acquire 7% of the company After that (June 2004), some venture capital firms invested in Facebook, and in October 2007, Microsoft announced that it would acquire a 1.6% stake in Facebook for $240 million. However, from the beginning of Facebook to the present (2012), SMM companies and enterprises have failed to really take advantage of Facebook’s large number of online users. The truth is that quantity does not equal buyers. Is it in the best interest of a social media marketing company to promote the social network? Absolutely. In a social network like Facebook, do people believe that companies can collectively sell by advertising and marketing with them? of course. In early 2012, when Facebook disclosed that its profits had grown 65% to $1 billion the year before, as its revenue, primarily from advertising, rose nearly 90% to $3.71 billion, it was clear that the concept of SMM was working for them, but it was workout for you? Well…statistically not, but that doesn’t necessarily mean it never will.
I believe the main difference between social networking and search engines is intent. People who use Google search for something on purpose, so if they search for hairdresser, that’s what they’re looking for at a particular time. The main purpose of using something like Facebook is usually to connect with friends and family. In October 2008, Mark Zuckerberg himself stated: “I don’t think social networking can be monetized like search (search engines)… Three years from now we’ll have to figure out what the best model is. But that’s not where we are today main focus of the . One of the biggest issues businesses face with social networking and SMM is perception. According to the IBM Institute for Business Value, “There is a huge gap between what businesses think consumers care about and what consumers say they want from their social media interactions with companies.” For example, in today’s society, people don’t Just giving you recommendations, Facebook likes, comments or details and getting nothing in return, so the old adage “what’s in it for me?” comes into play. So, the main reason most people interact with a brand or business on social media is to get a discount, but brands and businesses themselves think that the main reason people interact with them on social media is to learn about new products. For brands and businesses, getting discounts only ranks 12th on the list of reasons people interact with them. Most businesses agree that social media increases advocacy, but only 38% of consumers agree.
Companies need to find more innovative ways to connect to social media if they want to see some kind of results from this. IBM research of companies has shown some good initiatives that have figured out how to use social media to their What to do when interacting, consumers ranked “getting discounts or coupons” and “purchasing products and services” as the top two activities, respectively, for a US ice cream company called Cold Stone Creamery on their Facebook page for Products offer discounts. Plus, Best Buy has a great program in the US called Twelpforce, where employees answer customers’ questions via Twitter. The benefits of Cold Stone Creamery and Twelpforce are obviously good for potential customers, and the great trick of social media marketing is selling without trying to sell (or look like yours), unfortunately most social media marketing The point is wrong.
Building tangible buyer-consumer relationships through social media isn’t easy, but it can be most beneficial for businesses to use social media to boost their website’s Google rankings. But businesses need to understand that you can’t just set up a Facebook business page and hope for the best. SMM takes effort, potential customers need to work through social media to see the value you have to offer, give them something worth their social interaction and time, then you’ll probably get better results.
Now, as a footnote, Facebook’s stock price has fallen below $20 a share, which is half its original price… Lawsuits are in full swing
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