Social media marketing is the act of using social networking sites such as Twitter, Facebook, Linkedln and Google Plus to help promote a firms’ goods or services. This is done by creating a business profile for the firm and then targeting potential customers within the firm’s target audience. Updates will then regularly be posted on this profile to advertise the business’ goods and keep customers up-to-date with the latest products and discounts.
FMCG’s – about fast moving consumer goods
Fast moving consumer goods (FMCGs) are often essential goods such as toiletries, food and drinks which are purchased quite frequently. These differ from other services that are not fast moving as these are not purchased frequently and would also never be purchased on impulse as someone may with products such as chocolate and crisps.
How FMCG’s they differ from other products (not so fast moving)
Slow moving consumer goods (SMCGs) are products which are usually more expensive and bought for long-term purposes. They often require more thought into whether they should be purchased as it may propose a risk or opportunity cost.
Samples of who it would work for…
Social media marketing is often very effective with FMCG’s. This is because the frequent posts promoting the business’ goods reminds the customer about the product which will then often lead to impulse buys. Impulse buys are nearly always made when the level of risk involved in the purchase is low - usually meaning low cost goods such as everyday gifts, fast food, peripherals and other consumables.
Samples of who it won’t work for…
However, this type of marketing will not be successful for all businesses. Social media marketing is not effective with firm’s dealing with SMCGs. The reason for this is because people do not purchase these more expensive products on impulse as they require more thought and so it would probably be useful for these firms to use other methods of promotion for example television advertisements.
Clear boundary’s for the benefits of social media
In conclusion, social media marketing can be very beneficial to a business selling FMCG’s. A huge benefit of using this type of marketing is that it is often free and so is useful for small, new businesses that may not yet have sufficient amounts of capital to use other promotion methods.
Social media marketing is effective in marketing for a firm as it can successfully increase brand recognition and so therefore increase customer awareness and possibly sales figures. It enables the firm to specifically contact only the people within their target market who are likely to purchase their goods; this is more efficient than other marketing methods such as television advertisements because it is difficult for these to be presented to only one target market.
Social media marketing is a very successful method of marketing however it is important to consider whether the business is correct for this beforehand. Most successful modern marketing campaigns include a mix of search engine optimisation, pay per click, social media and PR. Applying the right mix can mean the difference between success and failure!
