Report Finds Majority of Marketers Focus On Social Media When Launching New Products

A new study, which was launched by marketing specialist agency Five by Five, investigating current trends in marketing, has found that roughly 74 percent of marketers are going to focus on the social media front when launching any new products.

The global research study was able to highlight the currently trending marketing strategies that are being employed for new products.

And although launching marketing does vary from other forms of marketing, it does signal how times have changed in the trend toward more importance being placed on online voices.

The study involved data from interviews involving about 730 senior marketers from Australia, the UK, and the U.S.

Following the findings that social media was the most pressing area of focus for launching new products, it was found that second came sales promotion, and third was e-mail campaigns. Television advertisement ranked well behind the importance of social media advertisement; it came in 6th place.

It's clear that in today's marketing environment, the traditional television campaigns aren't cutting it any longer and when you want to grab interest from the market, the lucrative place to look now is toward social media influencers who have large followings.

Some social media influencers are paid tens of thousands of dollars just to mention products on their Instagram and other social media accounts. From comped hotel suites to free flights, there have been a growing number of millennials who've jumped at the chance to make some profit from the present opportunity and conditions surrounding social media trends.

Celebrity endorsements used to be the traditional form of influencer marketing but times have certainly evolved. And now regular people have in their own way become celebrities by gaining large followings on Twitter, Instagram, and other similar sites.

With just the click of a button these individuals have the chance to reach hundreds of thousands, if not millions of people in an instant.

Going online is also a much quicker option than trying to roll-out a product in another way. Now businesses are able to go online and seek support from the customers directly, with crowdfunding campaigns and more, in order to gain a following before they've even launched the product. Social media allows companies to better achieve their marketing goals by allowing them to connect with their client base quicker and in a more personal way than has been commonly employed.

The low cost option of online marketing and the potential that it provides for speed and a product going 'viral,' make this avenue of marketing the most important area at the moment that companies/and their marketers will want to focus on.

Pics:
Pixabay
the-duds
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Sources:
http://www.bandt.com.au/marketing/74-marketers-focus-social-media-launching-new-products
https://blog.hootsuite.com/influencer-marketing/