Social networking and social media marketing has seen increasing amounts of hype over the past couple years. The web is becoming a more social environment, and new tools allow users to connect in a way previously unheard of. Therefore the questions are: where does the hype and reality about social media marketing separate? And, how can social media marketing help your Organization?
According to a recently released study by Opinion Research Corporation for Cone, a brand marketer that counts social networking among its capabilities, nearly 60% of Americans who use social media interact with companies on social-media Web sites.
This new data comes on the heels of a Vovici Corporation study on behalf of Internet Retailer that found that nearly four out of 10 online merchants surveyed said they used social networks, with nearly one-third of respondents maintaining a Facebook presence and 25% each using MySpace and YouTube.
It is first important to explain what social media marketing is not about. It is not having a blog or having a Digg and Blogger icon on every page of your website. It is not about creating a Facebook Page or Twitter account and then never using them – as this would be the same as installing phone lines for phone numbers you never give out, connected to phones that you never answer. These things alone do not help your company take advantage of social media.
When approaching social media, you first need to clearly define the success metrics you will use for the duration of the campaign before executing the strategy.
These success metrics will help you to understand where the return on investment will come from before investing your marketing budget in nurturing and supporting a new business community, paying for the production and development of online videos, product demonstrations, or even the cost of developing a corporate blog.
Without pre-defining metrics at the planning stage, you cannot feedback and refine strategies that could have an overall impact on the success of activity that will help shape future campaigns.