What is Social Network Service?
Korean Marketing – Social Network Service or social media is an online platform that users use to create social networks or social interactions with others. Typically, users of social media have similar personal or professional interests, hobbies, backgrounds, or real-life connections.
Further, the format and amount of features of social networking sites vary. They could include a variety of creative information and communication features. Also, they may run on desktops, laptops, and mobile devices such as tablet computers and smartphones. Moreover, users of social media sites could exchange thoughts, digital images and videos, postings, and information. They could also share thoughts about online or offline activities and events with individuals in their networks.
Roles of Social Media in Korean Marketing
Different social media play an important role in Korean marketing. They help Korean marketing in several ways. By increasing the chances of acquiring appropriate audiences for a certain product they also help in addressing certain issues consumers encounter. They also assist in providing the needs of the customers effectively and efficiently.
It is very popular in Korean marketing nowadays. People and businesses promote their products and services on online platforms such as YouTube and Facebook in a variety of ways to gain traction and develop a market base. A digital marketing approach converts this prospect into a customer.
Benefits of Social Media for Korean Marketing
The advertisement of products and services before differ significantly nowadays. Advertisements on billboards and other signboards do not substantially provide benefits to every business anymore. As a result, the use of SNS particularly in Korean marketing has become an effective strategy for them. Aside from it being cheap, it is accessible for every user anytime and anywhere. The following are the key advantages that SNS could provide when employs in Korean marketing:
Targeted Audience or Viewers for Korean Marketing
The ability to manage your audience is a significant advantage of SNS in Korean marketing. Compared to traditional advertising, everyone could watch or view the commercial. People could see the ad whether or not they like the goods. In return, it could harm a company’s reputation. In contrast, with social media advertising, there is a segregation of audiences and advertisements. The advertisements are designed in a way that connects with the audience. This enables a firm to interact with prospective consumers who are more likely to become loyal customers than consumers who are uninterested.
Greater Number of Audiences for Korean Marketing
One disadvantage of traditional advertising is that it limits the scope of the audience. For example, if the location of a signboard or ad banner is on a building, it could only reach individuals in that specific region. With SNS in Korean marketing, the audience could see the advertisement of a product to services no matter where they are. Around the world, more than three billion individuals use smartphones.
When an ad is put on the internet, it becomes available to those three billion individuals from all over the world regardless of area, language, or culture. A wider audience equals a greater number of prospects. Consequently, there is a greater number of customers. As a result, SNS in Korean marketing may become highly beneficial for businesses that want to reach a broader audience. It is an advantage as well for those who present excellent prospects for firms that want to develop a reach globally.
Increased Brand Visibility and Loyalty in Korean Marketing
Social media marketing allows companies to create advertisements to boost brand popularity and also enable them to be shared and spread the ads via their social media platforms. Others could perceive that a firm is trustworthy if consumers share things they enjoy and add good reviews for them. Customers could also share bad evaluations, pushing others to avoid that firm. Companies can gain satisfied and loyal consumers, on the other hand, have a better chance of attracting new ones.
An Easy and Fast Approach to Customers in Korean Marketing
Traditional advertising has a drawback in that the negotiation or dialogue between customers and providers occurs only if the customer contacts the supplier. It is now feasible for the service provider to contact the client after they visit the site via social networking service adverts. Ads could also be served on other websites and viewed by clients who are exploring the internet for enjoyment rather than shopping. In addition, customers are easily reachable, which has shown to be quite advantageous in expanding and expanding business.
Provide Complete Details About the Product in Korean Marketing
Customers can see detailed information about a product or service marketed on social media. The user is drawn to the advertisement first, and then to the product page. The product page includes a more detailed presentation of the goods. This also allows them to compare products similar to the ones they are looking for. The information they have may impact the way they purchase the product or acquire a service. This possibility is not always available in traditional advertising methods.
Reduction in Marketing Rates or Price for Korean Marketing
Traditional advertising strategies are costly in terms of conversion rates. Advertisers need to pay a significant amount of money for advertising that is displayed for a set length of time. SNS in Korean marketing has solved this challenge by allowing businesses to promote at a lower cost and with a greater conversion rate. Most social networking sites allow companies to set budgets and later change them. This results in a reduction in advertising costs that may be utilized for other company purposes.
Korean Social Media Statistics
With over 49.21 million internet users and it showed an increase of 535 thousand(1.1%) during 2019-2020, South Korea is one of the best-connected countries in the world with the highest average internet speed worldwide. This is the reason why we can expect the rise of social media penetration in the country.
In 2018, the most frequently used social media platform in Korea is Facebook. Then we have KakaoStory as the next in line, beating Instagram and Twitter. According to Datareportal, there are 45.79 million social media users in South Korea and the number of social media users in Korea will increase by 1.1 million (2.4%) in 2020 and 2021. It is equivalent to 89.3% of the total population in South Korea in January 2021.
Social Media Usage Based on Age and Gender
Most people in their 20’s use Instagram, then next are Facebook and Twitter. Here, we can also see that women are using social media more than men, most especially using the platform Instagram. When it comes to Facebook, however, the most number of users are composed of men.
For people in their 30’s, Instagram is still the most popular social media platform. Similarly, women tend to use Instagram more while men tend to use Facebook more. However, compared to people in their 20’s, there are more women who do not use social media platforms than people in their 30’s.
With this, we can conclude that men are more fond of using Facebook and women tend to use Instagram. This only shows that in Korea, the usage of social media platforms depends on age and gender.
This is especially useful, especially if you want to invest in social media marketing when you enter the Korean market. This enables you to know when, where, and how to position your product so they will be in front of your target customers.
Challenges in using Social Media for Korean Marketing
Apart from the benefits that SNS provides for Korean marketing, there are disadvantages as well. These challenges also affect the way SNS influences Korean marketing. In addition, these disadvantages vary depending on what kind of SNS is used. But, here are the main disadvantages of employing SNS in Korean marketing:
Exposure of Strategies to Competitors in Korean Marketing
SNS in Korean marketing allows you to research your competitors’ strategies. However, they may also analyze your company tactics through your social media platform. This puts your company in danger. When your competitor could do your strategy as well, your company would lose its uniqueness. Consequently, your potential customers could change their preferences.
Requires Qualified Personnel for Korean Marketing
You will need to hire skilled staff to manage your account if you want to focus on essential company matters. Attempting to do this yourself will wind up costing you more than hiring a social media developer or marketer. Because it requires competent personnel, their salary must really compensate for their efforts and hard work. It would incur additional expenses for the company.
Slow Returns on Investments for Korean Marketing
SNS in Korean marketing is a long-term investment so prepare to launch campaigns regularly. Hence, the company would not easily notice if it is really effective and functioning. As a company, one needs patience and they need to take the risk and of course, trust the process.
Brand Name Could be Compromised in Korean Marketing
If a piece of unfavorable information makes its way onto a social media site, the general audience will have the opportunity to voice their complaints. Thus, this would harm your brand’s reputation and discourage your potential consumers from forming relationships and conducting business with you. In other words, SNS in Korean marketing may really impact your company destructively and negatively.
Time-consuming When it Comes to Korean Marketing
Lastly, people may overlook your page on purpose since they are more interested in other sites. We could not deny that it may really take some time to get people to enjoy and share your content. As a result, financial and time resources must be dedicated to assuring the regular publication of beautiful postings. In short, this kind of advertisement would require money, a workforce, and proper management.