Is social media marketing the right approach for a company right now? Everyone has been hearing a lot about social media these days as restaurants start asking fans to "like" them on Facebook, news programs want viewers to follow them on Twitter, or nonprofits asks donors to read their blog.
Social media marketing is everywhere, and a lot of companies are starting to wonder if it is right for them. How can companies, organizations, and even solopreneurs decide whether or not to start using social media as a way to reach their customers?
The first step to take in determining one's social media marketing readiness is to see whether customers are using social media. Do customers and visitors frequently ask about whether the company is using social media? Do they ask about a Facebook page or Foursquare discounts for checking in? If these questions are coming up, then chances are there are more than a few customers and fans who want to see the company have a social media marketing. On the other hand, if the customers are not computer users, do not have social media accounts, or are Amish, then a social media marketing campaign will not do well.
The next step in a company's social media marketing is to see whether the company's staff and culture is ready for handling social media itself. Does management believe in social media marketing, or are they still debating the pros and cons of using a fax machine? Do the employees have the time to manage the social media marketing efforts, or are they all doing the work of more than one person? If it is the latter, then social media marketing is probably not going to be a good idea. Conversely, if the company is a young company whose executives are always willing to try something new, or if the employees have an entrepreneurial spirit who take the initiative to insure the company's success, then a social media marketing program can have a positive effect both on company morale, as well as the company's bottom line.
Third, establish some goals for the social media marketing. Know what it is the campaign should accomplish, whether it is is increased sales, increased web traffic, reduced customer service costs, or even improving public relations coverage.
Once these goals have been established, then it's important to measure whether they are being met. Use Google Analytics or a similar web traffic measurement program, as well as a social media monitoring service like Radian6 or Vocus to see if the social media campaign is working. Measure sales obtained from social media, whether marketing costs shrank, or even whether the number of customer service calls have been reduced.
After 6 - 12 months, it is necessary to make some decisions. If the goals are being met, the customers are responding favorably, and it has been easily incorporated into the marketing mix, then it should continue as a regular part of customer marketing and service. If the goals are not, then the company needs to reconsider whether to put more effort and energy into it, or whether they should drop it completely.
For the most part, companies ought to participate in social media, even if they are one of the first in their industry to do it. Social media has grown exponentially within the last few years, and it shows no signs of slowing down. That means that even if other companies have not embraced social media in that industry, the first company to do so can completely own it and dominate what will undoubtedly become an emerging market. Soon, most industries will have companies that are winning at social media marketing, and making a big impact on their bottom line.
1 comments:
Hello,
These are four competencies which each social media marketing companies should inculcate into their marketing strategies in order to keep their exposure and tenacity in competition.
Social Media Marketing company
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