Social Media Impact on Businesses

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A director of accounting reviews company financial information.Many MBAs choose to follow a marketing track because of its intriguing combination of creativity and analytics. Today’s marketers must be knowledgeable about working in traditional spaces like print, radio, television, and outdoors, as well as all the online channels available to consumers.

Social media offers an exceptional outlet for marketing creativity, with the potential for lower-cost executions and much higher profile returns.

Depending on the type of business you represent, you’ll want to be on Facebook, LinkedIn, Twitter, YouTube, Pinterest, Instagram, or Snapchat. The more whimsical your brand, the more leeway you have to share your story in fun, engaging ways.

Effective Social Media Campaigns

Several major brands have made an impact on social campaigns that brought people together — virtually and in-person — to celebrate life in unique ways.

• Starbucks

Starbucks’s “Tweet-a-Coffee” campaign allowed its account holders to gift their friends a $5 Starbucks gift card via Twitter. The program leveraged the Starbucks mobile app among its customers and encouraged gift recipients to “tweet” the $5 gift card to their friends. With this innovative campaign, the coffee giant moved e-gifting to a new level of convenience and ease while also increasing its database of Twitter contacts.

• Make-A-Wish Foundation

When a little boy in San Francisco wanted to be Batman for a day, the Make-A-Wish Foundation took to social media to make his wish come true. Using the hashtag #SFBatKid, the foundation created a viral campaign that gathered thousands to see this small superhero in action. Even the mayor of San Francisco played a role, shutting the city down for part of the day so that the young Batman could foil his archenemy the Riddler from his evil plans. The traction gained by this kind of social event is immeasurable.

• Dove

Dove, the company behind Dove soap and beauty supplies, created the “Real Beauty” video campaign in which women were drawn by an FBI sketch artist. One sketch was drawn based on each woman’s self-description, while a second was created based on a third-party’s description of the woman. The contrast between the two sketches was stunning to women in the experiment. Where they only saw their flaws, others saw their beauty. Dove’s campaign went viral, and as of January 2020, the video has been viewed more than 68.5 million times on their YouTube channel.

Social Media Marketing Trends for 2020 and Beyond

New ideas emerge every day in our always-on society. Those that have taken hold are creating new opportunities for business leaders who strive to stay at the forefront. Here’s a sampling of what industry experts expect to be trending in 2020 and beyond.

Influencer Marketing

The early days of influencer marketing campaigns were dominated by celebrities such as Paris Hilton and Kim Kardashian. Today, micro influencers, or influencers who have between 2,000 and 50,000 followers, are being more widely used to promote products or services. Micro influencers tend to have a strong following in a particular niche, such as life hacks for moms or style and beauty tips. Since their followers view them as informed experts in their specialized areas, micro influencers are seen as credible and authentic. Digital marketing agency Scrunch reports that micro influencers may charge as little as $50 per post, which can help small businesses to see a strong return on investment.

Niche Specialization

Business competition is more aggressive than ever before as companies vie for a shrinking pool of customer dollars, and targeted influencer marketing campaigns can be used to help businesses to highlight their niche. Top-performing organizations are proving to be those that fill a niche versus “generalists” that try to be all things to all people. It’s a positive trend for customers and employees. Customers trust that they’re getting valuable expertise from a specialist, while employees can find greater satisfaction in focusing on what they do best.

The Power of Client Testimonials

Business competition is more aggressive than ever before as companies vie for a shrinking pool of customer dollars, and targeted influencer marketing campaigns can be used to help businesses to highlight their niche. Top-performing organizations are proving to be those that fill a niche versus “generalists” that try to be all things to all people. It’s a positive trend for customers and employees. Customers trust that they’re getting valuable expertise from a specialist, while employees can find greater satisfaction in focusing on what they do best.

User-Generated Content (UGC)

Social media isn’t going away anytime soon. In fact, the trend is toward more information sharing and an increase in user-generated content. For example, we can expect to see a greater number of companies engaging their customers to upload photos and share comments that can be used for marketing purposes. Not only is user-generated content free; it’s timely and relevant to the consumer audience.

Harness the Power of Strategic Sales and Marketing

Ohio University’s online Master of Business Administration (MBA) program includes a concentration in strategic selling and sales leadership. Courses focus on building customer relationships, quantitative skills necessary for sales professionals, and sales leadership.

Other program concentrations include accounting, business analytics, executive management, finance, health care, operations and supply chain management, and business venturing and entrepreneurship.

Ready to learn how you can use strategic selling to leverage social media marketing trends? Discover how Ohio University’s online MBA degree can help to provide you with the skills and acumen you’ll need to be successful.

Recommended Reading

Ohio University Blog, “The Benefits of an MBA in Business Venturing and Entrepreneurship”

Ohio University Blog, “Why Ohio University’s Online MBA”

Ohio University Blog, “Conversational Commerce Is the New Way to Sell”

Sources

AZ Big Media, “Influencer Marketing 2020: What Businesses Need to Know”

Entrepreneur, “5 Hit Business Trends to Keep an Eye on in 2020”

Entrepreneur,  “5 Marketing Experts Share Trends to Jump On (and Which to Avoid)”

Entrepreneur, “12 Social Media Trends to Watch in 2020”

Entrepreneur, “How to Effectively Use Testimonials”

Junto Digital, “25 Mind-Bottling SEO Stats for 2020 (And Beyond)Scrunch, “What Is a Micro Influencer?”