Why is social media marketing an essential tool for businesses to survive in todays online business market? nguyenleminhy AEN T122WSB 6 WSU21000137

SCHOOL OF Western Sydney University Vietnam

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STUDENT DETAILS
Student name:

Nguyễn Lê Minh Ý

Student ID number:

WSU21000137

UNIT AND TUTORIAL DETAILS
Unit name:

Academic English

Tutorial group:

Unit number:

Academic English

Lecturer or Tutor name:

AEN-T122WSB-6

Tutorial day and time:

Gabriel Ryan

ASSIGNMENT DETAILS
Title:

Why is social media marketing an essential tool for businesses to survive in today's online
business market?

Length:

1200

Due date:

11/4/2022

Date submitted:

11/4/2022

Home campus (where you are enrolled):
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Nguyen Le Minh Y

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In this day and age, due to the development of technology and the internet becoming more accessible, social
networks have become popular with many people in the world. In the 21st century, thanks to the rise of
social networks, social media has become an integral part of marketing strategy. According to Chris
Porteous (2021), nearly 97 percent of Fortune 500 companies utilize at least one social media channel to
promote their efforts and establish constructive contact with stakeholders, according to data from 2018.

Furthermore, as of 2021, there are approximately 3.78 billion social media users worldwide, up 5% from
2020. That shows, social media marketing is being prioritized by businesses to use in business, although
many negative opinions may occur, many people believe that social media marketing will bring many
benefits for both the companies and the customers. To prove it, the interaction with the target market,
customer acquisition, product improvement and cost effectiveness will be analyzed before conclusion is
drawn.
First, talk about interacting with the target market. According to Rebecca Riserbato (2020) , a social media
target audience is a defined set of people to whom you wish to reach. This can be based on age, job title,
income level, education, geography, or behavior, among other factors. People that are most likely to be
interested in your goods make up your social media target audience. Defining a target group on social media
is comparable to creating a buyer persona for your company and will aid in developing brand guidelines.
This is important because you can communicate with your audience in their own language, increase their
likelihood to interact on social media, develop brand loyalty and ultimately make a purchase of your goods.
Your social media target audience should be extremely specific and detailed, just as the guest speaker
advised us on that immersive weekend. Therefore, you will not inadvertently exclude people who may be
interested in your goods. Ultimately, social media target audiences will help you effectively market your
products and prioritize the audience you're targeting. Let's look at how to discover your target audience on
social media now that we've covered what a social media target audience is and why it's useful.
Next, source new customers through social media marketing. Based on Allison Davis (2014), focusing on
the people who already know you well is the best method to establish an active and engaged social media
audience. You may increase your audience and build great relationships by sharing information that is
relevant to them and taking the time to communicate with and respond to any comments you get in the
works. The way to find customer sources is arranged in the following step. Identify a target audience, you


can quickly see which social networks my consumers use if you find people using these terms. You can also
specify the type of information they prefer, as well as the most appropriate time and frequency for posting.
This makes it much easier for you to reach out to my audience on social media. Followed by searching for
#hashtags and related keywords, you may also use hashtags to locate influencers you should like and
follow. Influencers are specialists on themes relating to your industry who frequently have a huge

following. By interacting with them, you can reach a broader, similarly focused audience. Furthermore,
engaging with a relevant audience is an important aspect of the process. After you've found social chats that
are relevant to your business, you can begin engaging potential customers and sharing their expertise. Make
an effort to contribute to the conversation without disturbing it. Find ways to share your thoughts if people
are sharing and commenting on news about your company. If someone asks a question that you know the
answer to, offer to assist. Finally, by utilizing the appropriate calls to action, all of your efforts in locating
and communicating with potential clients on social media should result in the acquisition of new customers.
Fans and followers have increased. It's critical to add a clear call to action as you begin connecting with
your new audience to assist move interactions beyond social.
Furthermore, using social media to improve response is essential. According to Vu Tham (2021), social
media platforms make it easier to give and receive feedback. Customers can respond quickly to you if they
have any concerns or problems with what your company has to offer. Customers have a fast and accessible
opportunity to voice their feelings on social media, and businesses have a chance to respond. Businesses
can receive complaints and resolve client concerns more rapidly with such a platform. Besides, how you
handle customer complaints is also very important. Based on VirTasktic blog (n.d.), all eyes are on you
when a customer calls you on social media. A negative comment can be turned into a positive social media
feed depending on how well you handle consumer concerns and how soon you respond. These kinds of
interactions can help you retain existing consumers while also attracting new ones. You show present and
potential clients that you care by not dodging and taking control of the situation.
Finally, social media marketing is more cost-effective than other forms of marketing. According to Digital
School of Marketing (2021), the majority of small firms are cautious about the marketing methods they
spend on. When you're working with a limited marketing budget, it's critical to spend it properly in order to
get the most bang for your buck. Social media marketing is a low-cost strategy. It's also one of the most


adaptable techniques for small businesses to reach their target audience and increase sales over a specific
time period. That's why 97 percent of marketers use social media to communicate with their customers.
Managing social media accounts is a cost-effective way to promote your company's online presence through
media marketing campaigns. Because it does not require a huge investment, small businesses competing
with well-known brands can gain from social media.

In conclusion, the importance of social media marketing is an indispensable tool of every business. It is
believed that interacting with the target market, finding customers, improving response, and being
affordable are the right marketing strategies for companies today. Businesses are gradually prioritizing
marketing strategies in their development plans. Therefore, growing businesses should actively invest in a
social media strategy to grow and thrive in the future. Besides, it is necessary to devise a methodical and
effective strategy.

References
1. Lawler, B. (2021, October 29). How Social Media Marketing Is Cost Effective? Read more. |.
DSM | Digital School of Marketing.
/>2. Porteous, C. (2021, March 18). 97% of Fortune 500 Companies Rely on Social Media. Here’s
How You Should Use It for Maximum Impact. Entrepreneur.
/>97
3. Riserbato, R. (n.d.). What a Social Media Target Audience Is and How to Find It.
Blog.hubspot.com.
/>dia%20target%20audience%20is%20a%20group%20of%20people


4. Vai trị của tiếp thị truyền thơng mạng xã hội trong kinh doanh - BigAds. (2021, October 1).
/>h%C6%B0%C6%A1ng%20ti%E1%BB%87n%20truy%E1%BB%81n%20th%C3%B4ng%
20x%C3%A3
5. Virtasktic. (2018, September 5). Social media marketing 101: Why responding to social media
comments is so important - virtasktic. VirTasktic.
/>6. A Simple Strategy for Finding New Customers on Social Media. (2014, October 9). Constant
Contact. />
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