And, what all of this means to business is ultimately success (or, in some cases, failure).
During the past few weeks, we have been looking at what successful organizations and businesses are doing with social media. The use of consumer-generated content such as blogs, photo sites and YouTube, is luring people into conversations and providing opportunities to share ideas and experiences like never before.
In 2008, more than 82 million people generated their own content via various social mediums, including video, social networking, etc., and during the next five years those numbers are anticipated to grow to nearly 115 million (2009, Ostrow).
As I continue to work on my plans to catapult Hasbro over Mattel in the social media world, the idea of user-generated content is one that deserves a lot of attention. The company currently isn’t doing much in the way of engaging consumers via this platform, but there are certainly wonderful opportunities to bring them into the conversation, so to speak.
One of the vehicles I think could be very fun and engaging for Hasbro is the use of photo and video sharing. This can be done very simply and inexpensively. In talking with random people about toys, one of the things I found very interesting was the memories people would have of their favorite toys. And, often these individuals are now sharing those memories (and many of the Hasbro games/toys) with the next generation of family members – kids, grandkids, etc. As part of the marketing plan, I plan to incorporate the use of a YouTube site and photo sharing site for consumers to upload their favorite photos/videos of them or their family members with their favorite Hasbro toys. This will give them an opportunity to be engaged, while offering other consumers to comment on those stories.
Blogs are another easy and inexpensive way to engage consumers in a conversation. I like the idea of using Hasbro employees to write blogs about their favorite childhood toy memory and asking consumers to share their stories. Additionally, it would be great to do a special holiday blog where either the CEO from Hasbro talks about the newest or greatest toy of the holiday season and why he/she picked that particular toy. This will give consumers a chance to chime in on their thoughts about the toy.
By incorporating this form of user-generated content, consumers will not only be able to share their stories, but this will also serve as an opportunity for Hasbro to use these stories and photos in further enhancing brand recognition and marketing efforts. There is truly no more powerful form of marketing than to hear the words of the people who use these products.
Companies are adjusting marketing budgets to incorporate different strategies, including social media, to add value to their services/products. In a recent feature on General Mills on Fox News, Mark Addicks, chief marketing officer for General Mills, discusses the various outlets the company is using to reach its diverse audience. He notes that while the company looks at return on investment based on actual dollars in terms of advertising, the company also looks at “activity” around social networks when developing marketing messages and new ways to engage customers (2009, Fox). As he further notes in the interview, General Mills will continue to remain focused on the television market as it works to provide a significant return on investment for the company, but it also looks at the social media market as a complementary vehicle for engaging consumers. General Mills is being very strategic when incorporating social media marketing. It is not using social media to be the beat all end all.
I think Hasbro is much like General Mills in that much of the target audience of its brands (parents/children) still gets much of their information from television. But, the parents are also one of the biggest users of social networks, representing a 170 percent growth rate among users ages 35-54 (2008, Corbett). Integrating the various marketing strategies will enable them to extend the brand reach/recognition while developing and building relationships that will help drive success.
Marketing techniques and strategies are evolving at a rapid pace, and social media is certainly an integral piece of that strategy. It is important to continually develop and re-develop your marketing plan to integrate the various resources available for companies to engage consumers and build brand loyalty. By incorporating the traditional marketing tactics with the new social media vehicles available to marketers, companies will be enhance performance while helping to make consumers feel like they are part of your brand.
Marketing techniques and strategies are evolving at a rapid pace, and social media is certainly an integral piece of that strategy. It is important to continually develop and re-develop your marketing plan to integrate the various resources available for companies to engage consumers and build brand loyalty. By incorporating the traditional marketing tactics with the new social media vehicles available to marketers, companies will be enhance performance while helping to make consumers feel like they are part of your brand.
Fox News. (2009, November 16). Engaging consumers through social networking. Retrieved December 8, 2009, from http://www.foxbusiness.com/search-results/m/27431720/engaging-consumers-through-social-networking.htm
Thanks for an interesting and useful post.
ReplyDeleteYou may be interested in our company Zooppa.com. We are the world's largest source of user-generated advertising. As you say, it is important to engage consumers and build loyalty -- user-gen ads are a great way to do this.