Social Media Marketing: Not a Magic Bean, But a Very Inexpensive One
I'm not an "I told you so" kind of person, but see, it's happening, right before our eyes. The times, they are a changing. Several months ago, Warren Buffet "confirmed" the social media bubble with his statement "It's extremely difficult to value social-networking-site companies…" I see what he was getting at, but I still don't think he gets social media.
Social media isn't going anywhere, it's the way we communicate. The radio survived the invention of the television, and although it has had to evolve, I'm not sure very many of us would buy a car that didn't come with at least a radio installed.
Understanding how to operate within a social media marketing environment is what's necessary for small and medium-sized businesses. Regardless the platform, if you understand that the game has changed from interruption-style marketing to permission and engagement-based marketing you'll be able to score on a number of platforms, even if they do end up changing, merging, etc.
Consumers no longer accept being talked at and shun brands that don't encompass who they are. If you want consumers to "like" you on Facebook or follow you on Twitter, it's probably best to have a good reputation because buyers don't want to be associated with you, on or off line, if others they respect don't like you too.
An example of how important it is to understand which platform is best suited for your business is this article by eMarketer's where the report touts Facebook as being the go-to networking site for 86 percent of small and medium-sized businesses who responded in August 2011. This is a slippery statistic and begs the question: are the respondents decision makers for B2C or B2B companies?Continued on the next page