The opinions expressed by contributors are of their own.
Consumers and producers depend on each other to survive. A producer is an entity that can create a product, while a consumer is any entity that uses that product. There are several practices between the demand and supply settings that exist. Producers exert marketing practices to convince consumers to buy their products. Companies used to only promote their products through traditional media, such as newspapers, TV, radio and promotional flyers. The modern age saw social media as a way to bridge the gap between producers and consumers.
Social media's influence.
Social media is different from traditional media in that it is two-way communication and consumers form the public reputation of producers.
In an interview with the Harvard Business Review, the CEO of Coca-Cola stated that five years ago social media was 3% of the company's total media spend. Today it is more than 30% and growing fast.
Producers around the globe needed to recruit brand managers, public relations practitioners and social media managers to come to grips with the situation.
5 ways to use social media to grow your business in 2019.
There is a need for a good social media strategy.
Producers are always trying to improve their image on social networks. Producers are pressured to create a reliable and workable social media strategy before participating in a social media campaign. Customer loyalty and engagement rewards can be significant once a carefully considered strategy is in play.
The reputation of a brand on social media is dependent on the will of consumers. Consumers decide on how to brand a brand. Producers have the responsibility to communicate efficiently and commendably on online social platforms. It is easy to spread positive or negative testimonials about a producer to a crowd of people and establishments through the internet since social media has endorsed the electronic word of mouth communication style.
There are 8 simple ways to make social media work for your business.
The modern age.
The days of complaining to a producer about a deficiency in its product are over. In this modern age, where every consumer is busy, no one has time to spend an hour on a phone call where the producer keeps passing your call to the concerned person or department to solve a problem. Consumers want to be heard and responded to in the least amount of time.
Consumers want producers to be socially receptive, whereas the promotion of products is archaic and unfashionable. Spider-Man is the ideal comic book character to give a description of the situation of producers on social media platforms. This is my curse. Social media can be a nightmare for companies if things go wrong online, as companies can have a good hold on their various audiences on social media. The power of social media in spreading news to a large audience is unlike traditional media.
Finding content that works is the real challenge in bridge the gap between producers and consumers. The better off a producer is when it engages in conversation with its audience on social media. Producers have a responsibility to be aware of the ever-changing trends in society and invest in PR, marketing and brand managers. The producer is not the king.
There are 10 laws of social media marketing.
The Entrepreneur Leadership Network has a contributor.
Krishna Athal is a recipient of numerous leadership and innovation awards and is currently a PhD candidate in leadership and entrepreneurship.
