By Vishal Sridhar

Edited by Shambhavi Singh,Senior editor,The Indian Economist

Being straightforward and striking is the way ahead as far as Marketing is concerned. Companies today are finding ways to woo the consumers through innovative strategies and marketing. And Facebook marketing tops that list. Undoubtedly Facebook is the most used social media platform across the world. It is a phenomenon. Consider this – in 2013 Facebook had 1.23 Billion average monthly active users. This is huge as it is an extremely large sample of the world’s population. In fact Facebook is the genuine king of driving sales for the business.

The idea of running an organization has changed over the years, and so has the concept of marketing and customer relationship management. The idea of retaining the current consumers is becoming as important as targeting the new ones. Of course the number of sales made in a financial year remains the ultimate goal, but the need for communicating and engaging with the present consumers is becoming a top priority for a company. Daily posts on Facebook seem to be the best ways to go about it.

Mobile Advertising

Yes, it is the next big thing and it is growing rapidly every day. The rise in the number of users of smart-phones and Tabs has made ‘mobile advertising’ an integral part of marketing. This concept has given rise to a number of exciting start-ups as well.

There are many ways in which an advertisement is carried out. The main measurements are impressions (views) and click-through rates. And these are also sold to advertisers by views (Cost per Impression) or by click-through (Cost per Click). Other measurements include conversion rates etc. Also, these advertisements are generally run on a mobile web page or within a mobile application, i.e. App. Though there is one alarming issue with mobile marketing i.e. the privacy issue. These generally include mobile spam, personal identification, location information, and wireless security.

Earlier most marketers and business owners thought about attracting new customers to the business using the advantages of social media.  But these days, smart businessmen and marketers are focusing on relationship building through regular content marketing and engaging with customers who are already familiar with the brand.Customers make a quick opinion about whether they trust your brand/product/service merely by glancing at your brand’s online profile. The stake of a consumer base lies heavily on the online reputation of the product. So a lot of importance has been given to Social Media Marketing in building a brand. The need for Marketers in the coming days is to keep their Facebook Page active, and stay in constant touch with their consumers.

An aspiring economist, Vishal Sridhar lives in Ashok Nagar, Chennai. He will be graduating from Loyola College in 2015. Apart from Economics, Indian Politics and her history fascinate him. He’s thrilled to scrutinize the NaMo Government and her affiliation with Raghuram Rajan. An enthusiastic learner, he loves to pen down his thoughts on the various economics and political issues. He takes life as it comes and strongly believes that everything in life happens for a reason. He wishes to travel across India to experience her rich culture and traditions. He’s very keen on interacting with people and loves to exchange thoughts on various subjects. Don’t hesitate to connect with him at FB or to drop an email at vishalgany@gmail.com.

Posted by The Indian Economist | For the Curious Mind