Social Media Marketing - Marketplace

Social Media Marketing – Just Another Marketplace Without a Physical Space

  • September 26, 2019

What is Social Media Marketing?

The dictionary definition of Social Media Marketing (SMM) is the promotion of products and services on any social media platform. Personally, SMM is when you display your goods and services in the invisible marketplace called social media.

Broken-down Explanation

The marketing in “SMM” is to show the action of marketing/selling. The social media in “SMM” indicates any platform where individuals can interact virtually. Interaction is usually via features peculiar to the platform (like 140-character post for twitter and photos for Instagram.) You will also receive feedback in the form of likes, retweets, comments and others. Using both definitions will give you the idea that, Social Media Marketing is the act of selling your goods and services on social media. The act of selling and the presence of a representation of your product or service brings about my analogy of social media as a marketplace.[irp]

The Marketplace Analogy

Latest trends show it’s important for businesses to have an online stall in the social media marketplace. Lately, platforms such as Instagram have designated company and business account packages. In any marketplace, businesses and services like; cloth selling or spa treatment will have a space for operation. This is like having an account or profile on a social media platform. In any marketplace, you will have your goods or services present and in demand by the potential customer. This is like pictures companies put up on their profile. Now, in any marketplace, interaction about price, services and the good to be purchased will take place. Discussion tools used on social media platforms are in the forms of likes, comments, videos and a host of others.

The Trend

Social media didn’t start as a tool for companies. It started as a platform for friends and family to interact, catch up and connect with each other. Then, social media moved to allowing people to meet other people for the first time. The face of social media has changed as individuals and companies are now selling online. There is always a section in most social media platforms for describing yourself. This section nowadays is a new form of social media marketing of individuals. It is not uncommon to mention skills, achievements and probably services you may be able to offer.[irp]

Among Gen Z, it a norm to post updates of their lives on social media, usually the good ones. Every boy & girl puts the best version of themselves on social media. Even when you take a picture, there are filters and edits to make you look better. This can also be considered as a form of Social Media Marketing. With the rise of users who watch out for clip backs, subs or grammatical errors. You have to be careful what you put in writing in association with your profile.
Finally, SMM is a trend in itself and is required to be able to exist or be relevant on social media, irrespective of who/what you are. Looking to setup your own marketplace? visit our website for more info.

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