Marketers across the country are discovering the many benefits of cost-effective, local internet marketing tactics used on social media sites. Platforms such as YouTube, Twitter and Google+ are helping companies communicate directly with their core consumer base, attract new customers and build trusting relationships to promote repeat purchases and customer loyalty.
ABC News affiliate KAIT reported marketers and company owners from a wide variety of industries are working on new strategies to incorporate social media into their daily business tasks. Even universities are launching social media educational courses to help companies learn the ins and outs of the online platforms, how best to approach social marketing campaigns and different ways to measure the success of each social effort.
Arizona State University's Small Business and Technology Development Center, for example, is offering ongoing social media online marketing training workshops for local and national companies interested in entering the social scene. Herb Lawrence, director of the ASU SBTDC, told KAIT that the goal of the workshops is to provide basic understanding of the platforms and help companies launch an online presence.
Lawrence said many companies do not know how to use Twitter or other sites as a local internet marketing tool, how to setup a campaign and what rules to follow as a marketing professional. Many third-party social media experts can help companies launch successful social media campaigns while introducing new SEO strategies to increase the online value of the company. Twitter has a unique set of rules for companies to abide by.
"We use [[Twitter]] quite a bit in getting the word out about our workshops to people who follow us," Lawrence said. "We share information. When I write one article about something, say online marketing, then I send a link of that article out to my followers on Twitter."
According to Business Insider, Morgan Stanley's Twitter feed is changing the way Wall Street does business. As more members of the financial industry adopt Twitter and other social media platforms into their business models, a new subculture of Twitter vigilantes has arisen, constantly checking Twitter for the latest news and first analysis of the business sector.
The first participants in the field to embrace the social medium were financial bloggers and academics. Since then, individual companies have adopted Twitter and social media practices, spurring live economic and financial commentary on the market and industry sectors. The information and exchanges being transmitted on Twitter are evolving from industry chatter to valuable tools for investors and traders.