Over the past few weeks, we have looked at the importance of social media for business, the role of social media in business intelligence and the state of social business. Now, lets take a look at how social media has affected business marketing.
One of the biggest changes brought about by social media is that marketing & PR is no longer one way. Customers don’t have to listen to the message anymore, they can respond, criticise, participant. In one word, customers can ENGAGE.
Its no longer communications, its conversation, as such social media has changed the way marketers interact with their customers. The control has shifted from the companies to the consumers. The customer no holds all the cards when it comes to marketing, PR and customer service.
With the advent of social media, marketing has become more technology oriented making organisations question the status quo on a daily basis. So what are the changes that social media has brought about?
However, the most important thing still remains the same – Great Product. If your product or brand is not great to start off with, no amount of social media marketing can change that. So if you have a great product, create an experiential marketing campaign that engages with your customer to build social equity and generate return on investment. Out of the four Ps of traditional marketing – product, placement, promotion, and price – PRODUCT has stood the test of time. So how has social media changed business marketing? It has created a fundamental shift in the communication of companies – the control for the first time is with the customer not with the organisation. As marketers, we have always been traditionally taught that the customer is king and social media has really put your customers in the driving seat!
Logan Nathan
http://www.socialmediaforbusiness.com.au/
One of the biggest changes brought about by social media is that marketing & PR is no longer one way. Customers don’t have to listen to the message anymore, they can respond, criticise, participant. In one word, customers can ENGAGE.
Its no longer communications, its conversation, as such social media has changed the way marketers interact with their customers. The control has shifted from the companies to the consumers. The customer no holds all the cards when it comes to marketing, PR and customer service.
With the advent of social media, marketing has become more technology oriented making organisations question the status quo on a daily basis. So what are the changes that social media has brought about?
- Marketers have always been great at story telling. But with social media, they needed to become writers too. Just presenting your story via an advertisement is no longer sufficient. Marketers need to convey the story in a much more authentic manner – using words.
- Marketers have become researchers. Social Media has provided a means of gathering business intelligence right from the source – the customer.
- Marketing is no longer limited to just one department – the entire organisation needs to become social to accommodate the changing trends of technology. Its not just the marketing team that has the power to sell your brand anymore, any one of your employees can use Facebook, Twitter, Google+ or other social media channels, to positively brand your business.
- Marketing is not just about product and placement, its about experience and interactiveness. The success of brands now depends on the brand experience and interactiveness of the marketing campaign.
- Your marketing message needs to be more targeted and demography oriented. Generalisation has given way to niche marketing.
- The last but the biggest change is that the biggest team of marketers for your brand don’t work for you. Your consumers are your greatest marketers – brand evangelisation and crowd sourcing has become a profitable referral marketing channel due to social media.
However, the most important thing still remains the same – Great Product. If your product or brand is not great to start off with, no amount of social media marketing can change that. So if you have a great product, create an experiential marketing campaign that engages with your customer to build social equity and generate return on investment. Out of the four Ps of traditional marketing – product, placement, promotion, and price – PRODUCT has stood the test of time. So how has social media changed business marketing? It has created a fundamental shift in the communication of companies – the control for the first time is with the customer not with the organisation. As marketers, we have always been traditionally taught that the customer is king and social media has really put your customers in the driving seat!
Logan Nathan
http://www.socialmediaforbusiness.com.au/
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