Social media And Viral market

If any single trend exemplifies the online space of today, it is social media. The entire premise of web 2.0 is based on the ability to network with peers and like minded communities using technology.


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The largest and most famous social media community of all, Facebook, has exceeded 750 million subscribers and is still growing steadily; by population, it would be the third largest country in the world. Social communities facilitated by social media platforms have sprung up around hobbies, locations, causes, beliefs, creative works and even brands. They have incredible power to steer opinions and spread messages, making them both extremely valuable and very risky to use. This chapter will provide you with a simple and honest overview of the true benefits of social media, as well as the challenges and problems you may face in marketing your brand across these platforms. 
 Types of social media
Not all social media are created equally. Some are general sites for chatting with friends and some are serious and intricate business networks. Others are highly focused niche community pages. Most are impossible to fully define because they have their own unique combinations of features, tools and uses. In addition, not all are well suited to marketing strategies, or may require radically different approaches.  
Social networks
Social networks are the biggest, most popular and most widely used social media platforms. The leader in this field is Facebook, with over 500 million users (and growing), but others like MySpace, Orkut and LinkedIn boast substantial memberships too. Social networks allow users to create virtual approximations of their real-world social relationships, and facilitate the sharing of news and content. Their focus is usually on immediate, sharing-based casual interactions between acquaintances, though this can vary depending on the platform. There are online tools available for creating custom social networks. Ning, a paid service, allows anyone to create a customised social network around a cause, business, location or shared interest; the creator can add a variety of features, including advertising and donation applications. Recently, social networks have branched off into niche fields: for example, Meetup (www.meetup.com) is a social network that aims to facilitate meetings in the real world between people who share an interest.
 Facebook
Facebook is a great tool for creating an online profile. You can create an official Facebook Page, which is a public profile page that can be created for any brand, cause, hobby or company. Facebook users can “Like” the page if they appreciate the content or the creator. Facebook Pages also allow you to interact with customers by posting photos, chatting in the discussion forum, posting updates on the wall and adding information pertinent to the business.
 LinkedIn
LinkedIn is primarily a business-to-business social network, although it is commonly used as a place for professionals across various industries to network online. You can create a profile for your company, join groups and network with related businesses. The company’s page can list your current and past employees, information about your business and contact details. Others can “follow” your profile to get updates about you.