PRLog - Jan. 10, 2012 - Social Media Management is the business related function of managing multiple social media channels for the purposes of marketing communication, reputation protection, and customer acquisition. The practice utilizes the internet technology of social media to talk directly to individual customers and create a level of brand involvement and loyalty not possible with traditional media strategies. It reaches beyond marketing and into functions such as sales, human resources, and project management.
Social Media Management was not formerly introduced in the workplace until late 2007, as social networking sites like Facebook and Twitter grew to extremely large user counts. It's importance became more universally recognized for its effectiveness during the 2008 presidential election in which Barack Obama was able to mobilize a massive proportion of young population using a far reaching social media campaign. Twitter and Facebook were used to mobilize young voters and several debates were held using questions posed in the form of YouTube videos
A number of companies began utilizing social media networks as a way to inexpensively communicate directly with their customers. Facebook, in particular, allowed for businesses to target ads according to a number of very specific demographic characteristics. As businesses became more active a number of free and subscription based web applications were developed to help teams plan marketing efforts, track their campaigns, measure effectiveness, and engage customers across multiple networks. Marketing agencies began to develop departments dedicated to social media in order to serve the growing demand for a social presence in marketing. As the field grew, it became important for businesses to be more active and dedicate entire teams to social media marketing, establishing the role of a Social Media Manager. This was initially restricted to marketing.
In early 2010 Facebook announced that they would begin expanding the use Facebook Credits. Initially they were limited to virtual gifts that Facebook created themselves. However, they released a closed beta version that allowed developers to utilize the credits for other virtual goods, virtual currencies, and physical items. The initial redemption fee was set at 30%, meaning that Facebook will take 30% share of all revenue generated from Facebook credits. The first companies to take advantage of this on a large scale were those developing social games for the Facebook platform. Zynga, the makers of Farmville and Mafia Wars, was the largest user of Facebook credits as of December, 2010. The use of Facebook credits is expected to grow tremendously, and will be available in the form of gift cards at Wal-Mart, Target, Game Stop, and Best Buy during the 2010 holiday shopping season.
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