New Era of business
As a working business in the 21st century where social media dominates people’s daily lives, companies work harder to make their products trendy through their business accounts on Twitter, Facebook, Instagram and other similar platforms.
YouTube has been a worldwide platform for sharing videos since 2005. People use this channel to share their views and opinion on certain product, film, television shows etc. Leading to a new profession, YouTuber, who posts on YouTuber regularly on their daily lives as a job. For those who take reviews quite seriously, this is how they find out whether they would like to use certain products. Therefore YouTube and businesses have come up with ideas for getting publicity through paying popular influencers on YouTube to praise their products.
How to use YouTube
For example, a YouTuber can promote and introduce a product or webpage with a promotion code for discount to his/her audience. When a customer uses this code, the YouTuber may earn commission from this sale.
Another approach used by YouTube is that ‘annoying’ advertisement video audience have to watch before they can watch the video they clicked on. For each ‘watched’ video (until the end), YouTubers may earn a small amount of commission fee from YouTube’s profit from the advertisement.
In an era when small companies are starting up with little, receiving great popularity through the use of social media.
According to Infusionsoft’s annual Small Business Marketing Trends Report, small businesses are “embracing digital marketing to some extent” by budgeting more for social media management, digital advertising, search engine optimization and website analytics. (allBusiness: Is Your Business Keeping Up With Digital Marketing Trends?)
2018 and New Challenges on Social Networking
Through the use of a mixed advertising and marketing strategies, many businesses are making more profit and getting more attention worldwide through various social media platforms. It worked as a ‘secret formula’ for certain businesses (Forbes: Dozens of Brands have built Businesses on Facebook and Instagram. But it’s getting A Lot Harder), some argue that the golden age of building the social network has come to a stage as competition increase leading to a rise in costs as well.
As for smaller businesses, the need to be on trend and coming up with new ideas to attract customers is quite time-consuming. In terms using YouTube, they might not have the budget to pay YouTubers, therefore, running a channel could take up more their time.
Although social media is still the top customer-oriented channel for businesses, the ever-changing nature of digital marketing makes it more competitive to shine among others. Better use of specific channels for target audiences can be considered. For example, a channel like YouTube where people are looking for short yet informative videos, make yours fun and interactive! Live videos are also available now, making time-limited events even more convenient for both business and consumer.
Digital Marketing will become more important in the future, are you ready for it?