Social networks play a fundamental role in our daily lives. Facebook has over 150 million users, Twitter, relatively new to social media, has surpassed 10 million users, and it seems like everyone has a blog.
Tapping into this gold mine of current and potential consumers is the goal of many companies. A social media strategy has become a vital part of achieving a company’s marketing goals. Whether used to create buzz about the company, launch a new product, or incite customer loyalty and feedback, social media is an effective tool for connecting a business with its consumers.
WHY YOU NEED SOCIAL NETWORKS
Social media creates a level playing field for businesses large and small to market their brand, product, or service to the masses. It allows the company to recruit new customers while building loyalty among existing customers. Used as part of a comprehensive marketing campaign, social media helps drive traffic to the company’s campaign website and incites a desire to purchase the product.
Social media not only makes people aware of the company or brand, but also allows the company to protect its reputation by tracking what is being said about the company or product. In the face of negative feedback and feedback, a company can do damage control earlier and connect directly with the public to renew trust in the product or brand.
SOCIAL NETWORKS AND YOUR BUSINESS
Although social media is often the responsibility of the marketing department, it is important that all departments, from executives to IT, are involved in the social marketing strategy to help ensure its effectiveness. For many companies, the easiest medium to enter is a company blog, where the president, CEO, or other designated employee posts short company-related articles or thoughts of general consumer interest.
“How well someone is implementing social media depends on what niche they’re in,” says Kevin Palmer, owner and chief strategist at Boston-based Social Media Answers. “Businesses need to look within their industry and assess who the leaders are and why they are successful. If no one in your industry is a leader, it is ripe for them to develop a strategy and become thought leaders within their industry.”
The best example of social media permeating all levels of the company is the use of Twitter by online shoe and clothing retailer Zappos. CEO Tony Hsieh not only tweets regularly, but his employees also post to their individual Twitter feeds, sharing what they’re up to and what interests them on zappos.com and beyond. Employee Twitter feeds are linked to the Zappos website so anyone on the site can read what’s going on at the company. Zappos tracks who is talking about the company on Twitter and also posts these links on its website. As a result, the consumer feels a connection to the company that can lead to increased sales.
While some businesses may only update their status to announce a new product, promotion, or event, the businesses that are most successful with social media stay relevant by posting regularly. Content is still king and it is imperative to use the status update to your advantage.
Starbucks is a company that has mastered the art of updating the company status with relevant content. Although Starbucks is ubiquitous in every city, they take advantage of their social networks like a smaller company would. The Starbucks Facebook fan page advertises more than just new products. They post video, music and book reviews, articles about their employees, and encourage fan participation with fun polls and polls. As a result, Starbucks stays on the radar of its tech-embracing consumers by updating its status and posting new content every few days. The level of engagement they have with their Facebook fans results in an active and loyal consumer base willing to provide feedback and promote the company in their online social groups.
In the ever-changing world of the Internet, nothing is immediate, including results. Companies must have realistic expectations. “Take the time and do your research before you dive in,” says Palmer, “Listen to what people are saying within your industry, about your product, and find out where your target audience is and how they’re using social media.”
Although instant rumor stories on social media do happen, just like Sasquatch sightings, it can take a few weeks or months to generate enough buzz to increase sales. This is especially true for small and medium-sized businesses that may not have the brand recognition that large, established companies do.