There is no doubt that we have moved on from the days of traditional media advertisements where companies would shove messages in the consumer’s face without expecting a response. Today, social media and social networking thrives on building relationships and an ongoing dialogue with their consumers. They want to know what people think about their product or service and ways in which they can improve it if need-be.
It was found in 2015 that there was a positive correlation between brands engaging with people online and their firm’s financial performance, as well as their search engine advertising effectiveness, which is the dominant type of online advertising. Search-engine advertising measures something called the click-through rate, which looks at how attracted customers are to the given advertisement. It also shows the conversion rate, which provides information on how much sales or profit come as a result from the ad.
In a survey where 150 big time social media managers were interviewed, 33 of them said that paid advertising was their biggest project all week. In addition, according to Social Outreach, 74% of companies saw an increase in website traffic after making investments on social media and nearly half of those who are active on social networks “follow” a specific brand. This begs the question: how can advertisers make that their brand? Clearly, advertising through online networks and social media has become a dominant strategy for companies to figure out who their target audience is, and then target them. Later, we will look at the fashion industry specifically and their marketing strategies more in depth.
By: Alanna Goodman