EVALUATION OF THE EFFICIENCY OF BUSINESS PROMOTION IN SOCIAL MEDIA
Abstract
The role of social media in the formation of SMM strategy of business is argued. A study of the main development trends and motives for using social networks by users was conducted. It was shown that social media is an effective tool for promoting business and improving marketing communications. The main arguments in favor of various social media expressed by users are considered. It has been proven that social media are an effective tool for achieving strategic goals and tactical tasks of the company in the field of marketing communications. A study of the level of engagement with content among brand followers in social media in various industries was conducted. The potential for business promotion in social media has been identified. It is shown that an effective SMM strategy requires setting goals and promotion tools in social media. The main metrics used to evaluate the effectiveness of marketing efforts in social media are identified. The effectiveness of business promotion in social media is measured and evaluated using a system of indicators of engagement, reach, and conversion. These indicators reflect the dynamics and intensity of reactions of social media users to published content, advertisements, image and communication activities. A practical study of the effectiveness of the use of social media was carried out on the example of sportswear brands. Recommendations are provided for improving business promotion in social media to improve followers’ engagement rates, as well as the formation and development of a digital marketing communications system. It shows that brands should pay more attention to qualitative, engaging content and improve communication policies in social media. Social Media Marketing provides companies with a number of competitive advantages, including increased brand awareness, improved image, increased brand trust and customer loyalty. Brand promotion activities on social media require a complex marketing effort aimed at increasing the number of followers and their level of engagement, which contributes to increasing sales and customer loyalty. A business promotion strategy in social media needs clearly established goals and justified tools and measures, as well as performance indicators.
References
January 2022 global overview. Datareportal. Available at: https://datareportal.com/reports/digital-2021-october-global-statshot (accessed September 30, 2022).
Hemann, Ch., Burbary, K. (2018). Digital marketing analytics: making sense of consumer data in a digital world. Publisher: [New York]: Pearson Education, Inc.
Krishnamurthy S., Singh N. (2005). The international e-marketing framework (IEMF) : Identifying the building blocks for future global e-marketing research. International Marketing Review, 22(6), 605–610.
Dodson I. (2016). The Art of Digital Marketing: the definitive guide to creating strategic, targeted and measurable online campaigns. New Jersey: Wiley.
Visser M., Sikkenga B., Berry M. (2018). Digital marketing fundamentals : From strategy to ROI. Publisher: Utrecht: Noordhoff Uitgevers.
Cross D. (2018). Facebook advertising: the ultimate guide, a complete step-by-step method with smart and proven internet marketing strategies. Publisher: Dale Cross.
Tuten T.L., Solomon M.R. (2018). Social media marketing. Publisher: Los Angeles: SAGE.
Akhmedov R. (2017). Strategies of SMM Management, Comparison of Instagram and Facebook Social Networks. Nile Journal of Business and Economics, 5, 51–66.
Руди М.О. Інтеграція інструментів SMM у маркетингову діяльність українських підприємств. Вісник НТУ «ХПІ». Серія: Актуальні проблеми управління та фінансово-господарської діяльності підприємства. 2013. Вип. 24 (997). С. 136–142.
Савицька Н.Л. Маркетинг у соціальних мережах: стратегії та інструменти на ринку В2С. Маркетинг і цифрові технології. 2017. Вип. 1. С. 20–33. DOI: https://doi.org/10.15276/mdt.1.1.2017.2
Старицький Т.М. Використання соціального медіа маркетингу як ефективного засобу просування продукції. Інноваційна економіка. 2015. Вип. 4. С. 221–226.
Терехов Д.С. SMM-маркетинг у системі управління сучасним підприємством. Наука й економіка. 2015. Вип. 1. С. 77–79.
GlobalWebIndex (2021). Social media trends 2021 report. Available at: https://www.gwi.com/reports/social (accessed September 30, 2022).
Social Bakers (2021). Social media trends report. Available at: https://www.socialbakers.com/blog/social-media-trends-report-key-insights-you-need-to-know (accessed September 30, 2022).
Hubspot (2022). Social Media Trends in 2022 [Free Report]. Available at: https://offers.hubspot.com/social-media-trends-report-2022?hubs_post-cta=anchor&hsCtaTracking=3dc1dfd9-2cb4-4498-8c57-19dbb5671820%7C1758cda9-adcb-40f3-a7c5-4480017a2815 (accessed September, 30 2022).
January 2022 global overview. Datareportal. Available at: https://datareportal.com/reports/digital-2021-october-global-statshot (accessed September 30, 2022).
Hemann, Ch., Burbary, K. (2018). Digital marketing analytics: making sense of consumer data in a digital world. Publisher: [New York]: Pearson Education, Inc.
Krishnamurthy S., Singh N. (2005). The international e-marketing framework (IEMF) : Identifying the building blocks for future global e-marketing research. International Marketing Review, 22(6), 605–610.
Dodson I. (2016). The Art of Digital Marketing: the definitive guide to creating strategic, targeted and measurable online campaigns. New Jersey: Wiley.
Visser M., Sikkenga B., Berry M. (2018). Digital marketing fundamentals : From strategy to ROI. Publisher: Utrecht: Noordhoff Uitgevers.
Cross D. (2018). Facebook advertising: the ultimate guide, a complete step-by-step method with smart and proven internet marketing strategies. Publisher: Dale Cross.
Tuten T.L., Solomon M.R. (2018). Social media marketing. Publisher: Los Angeles: SAGE.
Akhmedov R. (2017). Strategies of SMM Management, Comparison of Instagram and Facebook Social Networks. Nile Journal of Business and Economics, 5, 51–66.
Rudy M.O. (2013). Intehratsiia instrumentiv SMM u marketynhovu diialnist ukrainskykh pidpryiemstv [Integration of SMM tools into the marketing activities of Ukrainian enterprises]. Visnyk NTU «KhPI». Seriia: Aktualni problemy upravlinnia ta finansovo-hospodarskoi diialnosti pidpryiemstva – Bulletin of NTU "KhPI". Series: Actual problems of management and financial and economic activity of the enterprise, 24 (997), 136–142.
Savytska N.L. (2017). Marketynh u sotsialnykh merezhakh: stratehii ta instrumenty na rynku B2C [Marketing in social networks: strategies and tools in the B2C market]. Marketynh i tsyfrovi tekhnolohii – Marketing and digital technologies, 1, 20–33. DOI: https://doi.org/10.15276/mdt.1.1.2017.2
Starytskyi T.M. (2015). Vykorystannia sotsialnoho media marketynhu yak efektyvnoho zasobu prosuvannia produktsii [Using social media marketing as an effective means of product promotion]. Innovatsiina ekonomika – Innovative economy, 4, 221–226.
Terekhov D.S. (2015). SMM-marketynh u systemi upravlinnia suchasnym pidpryiemstvom [SMM-marketing in the modern enterprise management system]. Nauka y ekonomika – Science and economy, 1, 77–79.
GlobalWebIndex (2021). Social media trends 2021 report. Available at: https://www.gwi.com/reports/social (accessed September 30, 2022).
Social Bakers (2021). Social media trends report. Available at: https://www.socialbakers.com/blog/social-media-trends-report-key-insights-you-need-to-know (accessed September 30, 2022).
Hubspot (2022). Social Media Trends in 2022 [Free Report]. Available at: https://offers.hubspot.com/social-media-trends-report-2022?hubs_post-cta=anchor&hsCtaTracking=3dc1dfd9-2cb4-4498-8c57-19dbb5671820%7C1758cda9-adcb-40f3-a7c5-4480017a2815 (accessed September 30, 2022).
