Social media
Social media marketing is the use of social media platforms and websites to promote a product or service and also to establish a connection with its customers. Social media marketing has increased due to the growing active user rates on social media sites. For example, Facebook currently has 2.2 billion users, Twitter has 330 million active users and Instagram has 800 million users. Similar to traditional advertising, all of social media marketing can be divided into three types: (1) paid media, (2) earned media, and (3) owned media. Paid social media is when a firm directly buys advertising on a social media platform. Earned social media is when the firms does something that impresses its consumers or other stakeholders and they spontaneously post their own content about it on social media. Owned social media is when the firm itself owns the social media channel and creates content for its followers.