World of social media opens windows to conversation

The world of social media is broad. And, everyone has an opinion on how companies/organizations should handle the use of this ultra medium. During the past few weeks, we have seen some wonderful, and some not so wonderful, uses of blogs, video, Twitter, Facebook, etc., to help consumers become part of a brand. By engaging them in conversations, companies are not only building brand loyalty, they are also gaining valuable information that can help to set them apart from the competition.

As we come down the home stretch of our social media marketing class, there is a lot of information to sort through, thoughts and ideas to decipher, and more importantly, choosing the right marketing plan that will help our “choice” company heighten its social media presence.

In a recent study from the Center for Marketing Research at the University of Massachusetts, Inc. 500 companies (five of the top 10, 12 and 15 companies and 38 of the top 100 companies) were interviewed about trends/uses of social media (2009, Barron). Several trends/statistics were discussed in the survey that deserve some attention, and ones that I feel have real value as I begin to craft the marketing plan for Hasbro:

·        Social networking leads the way (75 percent of respondents reported this as the most familiar aspect of social media.

·        Fifty-two percent of the companies responding use Twitter.

·        Social media is here to stay. (Ninety-one percent of respondents used some sort of social media in 2009).

·        Inc. 500 companies attribute success to social media communication (82 percent success rate with Twitter and 87 percent for other social media tools (Wikis, social networking, blogging, video, etc.)/

As we are talking about sorting through the “wealth” of information, Larry Brauner’s article this week on sorting through social media clutter is very apropos (2009, Brauner). Specifically a couple of things jump out as simple, yet critical steps, to taking action. The first one is his statement, “Be reliable and be consistent.” As we have discussed throughout this course, you have to be accountable and you have to be authentic/reliable. If you say what you do and do what you say, consumers are more likely to take stock in what your company has to say. And, of course, don’t do it in such a way that you are talking over people, instead of to them or with them.

The second point he makes that I think is valuable advice when looking at use of social media is the concept of not being everything to everyone. There are companies out there that do this well. (I noted National Geographic last week in my post. A great example.) But, not every company is going to have the staff or resources to accomplish what these top tier companies are doing. It’s important to find out what your consumers want and give it to them. Pick those mediums that you believe you can do well and ones that will really add value to building relationships with those consumers.

Additionally, recent changes to privacy policies for Facebook (2009, Brauner) and research regarding consumers’ likelihood to provide (or control) behavioral advertising data, could make social media marketing even more interesting, and, in some cases, challenging (2009, Rodgers). The addition of privacy changes (and there will probably be more to come) is not a bad thing. The point of social media is to engage consumers, and as Jaffe noted in Join the Conversation, “prosumers” or “consumers” make the world go round and “today’s consumer is your best friend and worst enemy” (2007, Jaffe). There is no doubt consumers are leading the way, and that is why it is more important than ever for companies to become more engaged with consumers so that they can reach those audiences with messages they want to hear, with products they said they want to see and deliver it in the manner in which they have asked to receive it.

The world of social media is scary, yet one that blows open the windows of communication to an audience who is ready to be part of these conversations.

References:

Barnes, N. and Mattson, E. (2009). Social media in the 2009 Inc. 500: New tools & new trends. Retrieved Dec. 12, 2009, from http://www.umassd.edu/cmr/studiesresearch/socialmedia2009.pdf

Brauner, L. (2009, Dec. 13). 8 simple ways to penetrate social media clutter. Online Social Networking blog. Retrieved Dec. 13, 2009, from http://online-social-networking.com/8-ways-to-penetrate-social-media-clutter

Brauner, L. (2009, Dec. 6). Social networking privacy hampers marketers. Online Social Networking blog. Retrieved Dec. 12, 2009, from http://online-social-networking.com/social-network-privacy-hampers-marketers

Jaffe, J. (2007). Join the Conversation. Chapter 5, pps.41-51.

Rodgers, Z. (2009, Dec. 14). Few Google users are opting out of behavioral targeting. Retreived Dec. 14, 2009, from http://www.clickz.com/3635881