Social Media as a Marketing Tool
In today’s technology driven world, social networking sites have become an avenue where retailers can extend their marketing campaigns to a wider range of consumers. Hsu-Hsien Chi defines social media marketing as a “connection between brands and consumers, [while] offering a personal channel and currency for user centered networking and social interaction.” (Chi 46). The tools and approaches for communicating with customers have changed greatly with the emergence of social media; therefore, businesses must learn how to use social media in a way that is consistent with their business plan (Mangold and Faulds 359). This is especially true for companies striving to gain a competitive advantage. This review examines current literature that focuses on a retailer’s development and use of social media as an extension of their marketing strategy. This phenomenon has only developed within the last decade, thus social media research has largely focused on defining what it is through the explanation of new terminology and concepts that makeup its foundations, and exploring the impact of a company’s integration of social media on consumer behavior.
Although social media marketing is a well-researched topic, it has only been studied through experimental and theoretical research; studies never precisely describe the benefits retailers gain from this marketing tactic. In reviewing the rich plethora of multi-disciplinary literature, it is has become clear that studies are focusing on describing what social media marketing is as well as examining what factors affect consumer behavior relative to social networking. Despite the initial progress made by researchers, development in this area of study has been limited. Research needs to expand by providing a deeper understanding of the long-term promotional gains retailers obtain from social media marketing. More formalized studies are also needed to progress beyond theorized or predicted outcomes...