Markets have now become conversations. The most trusted form of advertising today is now peer recommendation. So it is no longer constructive simply to issue information about your brand/product or service, and hope that potential customers will just take it as red. Customers are much more savvy and the Internet has enabled them to take control. You need to now encourage dialogue with your customer..find out where they are having conversations, and then take the time to engage with them on subjects that are important to them, and relevant to your business. Direct advertising simply won’t cut the mustard anymore. You need to shape the perceptions of your customers through dialogue. It is a much softer sell, and will take time. Lack of knowledge and lack of a long-term strategy are seen as the two major impediments to success in the social media/Web 2.0 space.
Companies must now tap into online conversations to find out who is talking about them and their brand, what really interests them, and where they are saying it.
The importance of social media is grossly underestimated. People think that by having a Twitter account, that they are one step ahead of their rivals. But they are missing a major opportunity to establish strong relationships with not only current and potential clients, but also internet users that can promote their brand for free!
Social media offers you the opportunity of doing in-depth research at a much lower cost than conventional advertising methods. And it is much easier to measure.
It is possible to set goals and get ROI, but you have to know where
you’re going and what you want to achieve. Tap into the online conversations
to find out:
• who is talking about you
• what they are saying
• is it positive or negative
• where are the conversations taking place
• what communities talk about you
• what are your competitors doing in social media
• what’s the buzz about them
• what content resonates with your audience
• are there subjects of interest you could provide content for
• what social sites have the most conversation
• who are the “fire-starters” you need to connect with
• who are the influencers in these blogs or communities
• where are the opportunities and threats
Once you have this information you can allocate your resources wisely. You’ll know where to start and what social sites you should be concentrating on. When you know the lay of the land it’s much easier to plot a path to your
destination. A social media marketing strategy is your roadmap.
So think about your audience. Who buys your product or service..what are their interests/what’s important to them? Google Alerts, Google BlogSearch, Twitter search, BlogPulse, Yahoo Groups, are good places for you to make a start. These will tell you what blogs, message boards, and forums, are relevant for your business, once you have analysed your target market thoroughly. It’s not rocket science, but it takes time! It is well worth the effort!