Social media and digital marketing strategies have become essential tools for businesses to gain a competitive edge in the market. For example, the entertainment company Play.com reached a 30% increase in the customer base after six months of promotional campaigns (Zook, Z. & Salmon, 2021). One of the quotes of business guru Peter Drucker is as follows: “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself” (Lemser, 2019, p.14).
However, many businesses still need to take advantage of the power of digital marketing and need to catch up on potential customers. Digital marketing has been around since the emergence of the internet in the mid-1990s (Hofacker, 2018). Still, even with a relatively short time of presence, it is an essential component in the modern world and continues to permeate all aspects of human lives. Therefore, organizations constantly use technologies, social media platforms, as well as other tools to have a global presence.
In this case, digital marketing plays an integral role in any business by attracting customers and retaining their attention. Social media promotion refers to using social media networks to create awareness and interest in a product or service. The essay tends to answer whether or not this investment is worthwhile and whether marketing and social media promotion is an effective ways of reaching a larger, more diverse audience.
The essay will evaluate the advantages and disadvantages of this approach and provide evidence to support the main argument. The main statements supporting Digital Marketing and Social Media Promotion involve increased brand awareness and customer engagement. The main argument against this approach includes the potential for data privacy breaches. The given work’s outline first provides a literature review, focusing on the positive and negative aspects of digital marketing, and then proceeds with a discussion of the matter, focusing on increased brand awareness, customer engagement, and the potential for customer data breaches. Thus, while digital marketing is a modern tool for companies to maintain their customer base, they have to be careful in terms of client safety in order to avoid decreasing loyalty.
Literature Review
Digital marketing has replaced traditional advertising and marketing strategies nowadays. Additionally, because of its immense power, it has the potential to greatly improve business efficiency and assist the economy recover (Bala & Verma, 2018). Bala and Verma (2018) discuss how Singapore-based businesses evaluated the usefulness and efficacy of digital marketing tools for obtaining objectives. More crucially, the fast advancement of technology and shifting competitive landscape have contributed to the expansion of digital marketing (Bala & Verma, 2018). In this case, availability, usability, and performance are considered the main marketing features for digital information in order for it to provide results for organizations.
First, social media with a unique illustration of how digital marketing can be a positive aspect. Businesses can now engage with millions of people about their goods and services due to Facebook, which has also created new marketing options (Bala & Verma, 2018). Marketing professionals need to have a thorough understanding of online marketing initiatives and programs, as well as how to use performance assessment indicators to their advantage (Bala & Verma, 2018).
The availability and use of social media by the youthful demographic are changing the competitive landscape throughout the world. The marketing communication plan of a firm must employ strategic synergy methodologies (Bala & Verma, 2018). In particular, for items where buyers can check reviews and give feedback about personal observations, blogs as a digital marketing tool, have effectively increased sales volume (Bala & Verma, 2018). User reviews have been a very effective component of firms’ overall marketing strategies (Bala & Verma, 2018). Thus, tools for internet platforms have more influence than conventional forms of communication.
The study by Venkateswaran and colleagues discusses the negative consequences of investing in digital marketing and social media promotion by examining the impact of social media applications in business organizations. The authors provide an in-depth analysis of social media applications’ potential risks and drawbacks in business organizations. They focus on the potential risks and drawbacks associated with using social media applications in business organizations, such as the potential for customer data privacy breaches and negative impacts on customer engagement (Venkateswaran et al., 2019).
Customers may be at risk if their personal information is exposed or shared without their knowledge or consent (Venkateswaran et al., 2019). They note that the failure of businesses to ensure proper security measures are in place to protect customer data can lead to serious harm. The authors note that many customers become dissatisfied when their expectations are not met when interacting with a business through social media, as observed in many companies (Venkateswaran et al., 2019). Thus, digital marketing and media promotion might put customers at risk.
This methodology included a literature review of existing research on social media applications in business organizations and the potential risks and drawbacks associated with this use. They then interviewed business professionals and experts in the field to examine further the potential risks and drawbacks associated with using social media applications in business organizations (Venkateswaran et al., 2019). Overall, if not used with the best security protocols, which come with costs, social media promotion and digital marketing may piss away many customers due to dissatisfaction.
Increased Brand Awareness
Increased brand awareness is the cornerstone of any successful digital marketing and social media promotion strategy. It helps businesses to reach a wider audience and create more opportunities for their products and services. Brand awareness is the recognition, recall, and familiarity of a brand among consumers (Makrides et al., 2019). It is achieved through marketing tactics such as advertising, content marketing, search engine optimization, and social media. People are more likely to interact with a brand that they are familiar with and are likely to be more likely to purchase the product or service.
By creating a solid brand presence and engaging with potential customers, businesses can increase brand recognition and create an atmosphere of trust and loyalty. For example, a company has a new product they want to promote. By investing in digital marketing and social media promotion, the company can leverage its existing brand awareness to reach a wider audience and create more opportunities for its product (Makrides et al., 2019). Therefore, increased brand awareness can help businesses to stand out from their competitors and create a positive reputation in their industry.
However, regarding the application of digital marketing, the company needs to do careful research and employ methods that will work efficiently for it individually. In this case, there will be a maximum return on investment, which is essential to organizations. In this situation, although increasing brand awareness is a desirable aspect, the management must pay attention to the target customer base, whose attention will be important. Therefore, the process of building solid brand presence must align with the overall image of desirable customers.
Customer Engagement
Customer engagement is a strategy that has been gaining much traction in the digital marketing world. It is a way to reach out to potential customers and build relationships with them. Customer engagement aims to create a more personalized customer experience that will increase loyalty and sales. This is done by providing customers with relevant content and engaging them in conversations about the product or service. One of the most effective ways to increase customer engagement is through social media promotion (Vinerean & Opreana, 2021). Social media allows businesses to reach a wider audience and engage with them directly. Businesses can easily measure the response and engagement levels when posting content on social media. This helps them to tailor their content and promotions to their target audience. Social media allows for two-way communication, which helps build relationships with customers and create a more personalized experience.
Social media promotion can attract a broader audience in the business industry. By using social media to post relevant content, businesses can reach potential customers who may not have been aware of the business before. Additionally, businesses can use social media to create campaigns and promotions tailored to their target audience. This will help to increase brand awareness and make potential customers more likely to purchase the product or service.
Overall, customer engagement is a great way to invest in digital marketing and social media promotion. It helps create a more personalized customer experience and can reach a wider audience (Vinerean & Opreana, 2021). It allows businesses to track customer behavior and preferences to create more effective campaigns and promotions. All of these aspects of customer engagement make it an excellent strategy for businesses to invest in.
Potential for Customer Data Privacy Breaches
The potential for customer data privacy breaches is another negative impact that harms digital marketing and social media promotion by discrediting the trustworthiness of businesses and discouraging a wider audience from engaging with the business industry. Such violations can lead to negative consequences, including economic losses, reputational damage, consumer backlash, and regulatory action. The economic losses incurred by digital marketing and social media promotion due to customer data privacy breaches can be substantial. Businesses may suffer financial losses due to the costs associated with responding to a violation, such as providing customer notifications, conducting investigations, and undertaking remediation efforts (Konyeha, 2020). Businesses may incur losses in the form of decreased sales due to customers’ unwillingness to engage with the company.
Reputational damage is another consequence of customer data privacy breaches. When customers’ data is breached, customers may become skeptical of the company’s ability to protect their data, leading to a loss of trust in the business. This can lead to negative publicity and decreased customer loyalty, resulting in a drop in sales and potential customers. Consumer backlash is another consequence of customer data privacy breaches. In the wake of a breach, customers may become more cautious of the businesses they interact with, decreasing customer engagement (Konyeha, 2020). Customers may use social media to express dissatisfaction with the business, resulting in further reputational damage. Therefore, these breaches can discourage a wider audience from the business industry, making it difficult for businesses to grow and succeed.
Conclusion
In conclusion, digital marketing is a vital component in the functioning and success of any company, while still posing a threat to the customer base in terms of safety, which companies need to avoid. investing in digital marketing and social media promotion effectively attracts a broader audience in the business industry. As a result of this strategic marketing effort, businesses can experience increased brand awareness and customer engagement. However, businesses and their customers must be aware of the potential for customer data privacy breaches that can occur through these digital channels. To mitigate this risk, businesses should have a privacy policy and practice safe data handling procedures. Customers should take the initiative to be aware of the data collection and privacy practices of the businesses they engage with.
Through creating compelling content and engaging with customers, businesses can increase their reach to potential customers who may not have been exposed to their products or services before. This allows them to tailor their marketing campaigns and offers to the customers, making it more likely that customers will buy from them. When customers feel valued and respected, they are more likely to recommend the company to their friends and family, leading to more sales. Additionally, digital marketing and social media promotion allow businesses to track their performance and measure the success of their campaigns, which can help inform future decisions. By taking these precautions into account, businesses and their customers can reap the rewards of investing in digital marketing and social media promotion while minimizing risks.
References
Bala, M., & Verma, D. (2018). A critical review of digital marketing. International Journal of Management, IT & Engineering, 8(10), 321-339. Web.
Hofacker, C. F. (2018). Digital marketing: Communicating, selling and connecting. Edward Elgar Publishing, Incorporated.
Konyeha, S. (2020). Exploring cybersecurity threats in digital marketing. NIPES Journal of Science and Technology Research, 2(3), 12. Web.
Lemser, F. (2019). Strategic product management. BoD.
Makrides, A., Vrontis, D., & Christofi, M. (2019). The gold rush of digital marketing: Assessing prospects of building brand awareness overseas. Business Perspectives and Research, 8(1), 4–20. Web.
Venkateswaran, R., Ugalde, B., & Gutierrez, T., R. (2019). Impact of a social media application in Business Organizations. International Journal of Computer Applications, 178(30), 5–10. Web.
Vinerean, S., & Opreana, A. (2021). Measuring customer engagement in social media marketing: A higher-order model. Journal of Theoretical and Applied Electronic Commerce Research, 16(7), 2633–2654. Web.
Zook, Z. & Salmon, B. (2021). Social media, interfacing brands in relation to the social media ecosystem. In Research anthology on strategies for using social media as a service and tool in business (pp.1271-1302). IGI Global.