Anyone who runs a business will know that doing business has changed drastically over the last 20 years. The behavior of consumers has been altered forever by the dawn of the Internet age and, with the resulting explosion of choice on offer, competition for market share has increased exponentially. Brands have had to completely rethink how they market themselves, recognizing that with the advent of social media, their customers and clients are merely a tweet or post away. While this access to consumers is unprecedented, it should not be understated that the open forum which has emerged has presented businesses with a whole new set of pitfalls and challenges. This has birthed a new kind of marketer, the social media manager.
Social media has, in some instances, changed the way that businesses structure themselves. In the past, businesses would have had departments to engage in market research such as determining target demographics, doing competitor analysis, and getting consumer feedback with regards to new products or services. These were often costly exercises that took time to carry out, analyze and implement the results of. Social media has changed all that. With a minimal budget it is now possible to have one’s finger on the pulse of an industry, the market leaders therein, as well as its consumer base. Positioning one’s brand accordingly has never been easier.
Social media has, in some instances, changed the way that businesses structure themselves. In the past, businesses would have had departments to engage in market research such as determining target demographics, doing competitor analysis, and getting consumer feedback with regards to new products or services. These were often costly exercises that took time to carry out, analyze and implement the results of. Social media has changed all that. With a minimal budget it is now possible to have one’s finger on the pulse of an industry, the market leaders therein, as well as its consumer base. Positioning one’s brand accordingly has never been easier.
It must be noted that social media was never meant to replace standard print-, radio-, or television- advertising. There is certainly still a space for traditional marketing to operate in, but social media has emerged as the ultimate value adding complement to marketing and brand building in the 21st century. It has refined strategic targeted marketing to a point previously thought to be out of reach to all but those with multi-million dollar market researching budgets. The playing field has now been leveled to include SME’s alongside multi-national corporations when it comes to accessing worldwide statistics and trends.
Social media is not a one-size-fits-all solution. Many startups ask the question: “Is social media for us?” The answer is both yes as well as no. Different brands employ different operating models and strategies to reach their clients. Different products and services will necessarily be bought, used or utilized by individuals or organizations with their own unique needs and requirements. Different social media platforms will therefore appeal to different brands according to the nature of the content found on them, as well as the social makeup of persons who frequent them. There may have been a time when a presence on every conceivable platform was desirable, but the demands for return on investment (ROI) now dictate that a social media strategy be drawn up to identify a brand’s unique identity, isolate what format works best for it, and then short list only those platforms with the desired synchronicity between function and the persons who frequent them. Word of mouth being regarded as the most effective marketing resource, one ultimately wants the right people to see your products or services, and share them with their friends and family. While virality doesn’t guarantee success, success is usually borne out of virality.
Social media is not a one-size-fits-all solution. Many startups ask the question: “Is social media for us?” The answer is both yes as well as no. Different brands employ different operating models and strategies to reach their clients. Different products and services will necessarily be bought, used or utilized by individuals or organizations with their own unique needs and requirements. Different social media platforms will therefore appeal to different brands according to the nature of the content found on them, as well as the social makeup of persons who frequent them. There may have been a time when a presence on every conceivable platform was desirable, but the demands for return on investment (ROI) now dictate that a social media strategy be drawn up to identify a brand’s unique identity, isolate what format works best for it, and then short list only those platforms with the desired synchronicity between function and the persons who frequent them. Word of mouth being regarded as the most effective marketing resource, one ultimately wants the right people to see your products or services, and share them with their friends and family. While virality doesn’t guarantee success, success is usually borne out of virality.
In reality, social media, when used correctly, fulfills an array of functions which previously required individual departments within businesses. Take customer relations management (CRM) for example. There was a time when a fully manned switchboard was needed to deal with customer queries. It was time consuming, both for the customer as well as the business, and it was expensive. Social media now presents a business with the tools to speak with customers in real time without having to put the customer on hold for what seems like an eternity. Where consumers have complaints, these can be driven to e-mail or, if needs be, a call can be made to the customer from the business in order to resolve any disputes. The experience becomes more pleasant for the customer and, with a bit of tact being employed, the business can avoid any damaging negative exposure. All relationships have their ups and downs, and social media is all about building relationship between a brand and the public. Whether you as a business owner know it or not, your brand speaks for your business even when you don’t.
Whether you want to generate leads, increase web traffic to your website, or simply share content at the speed of thought, there is a social media solution for your business. It will ultimately be cheaper, put your product or service in front of the right people, and provide you with real time data to act on until such time as your own unique requirements have been met. The question you should be asking yourself isn’t “can I afford to use social media?” but rather, “can I afford not to?”
Whether you want to generate leads, increase web traffic to your website, or simply share content at the speed of thought, there is a social media solution for your business. It will ultimately be cheaper, put your product or service in front of the right people, and provide you with real time data to act on until such time as your own unique requirements have been met. The question you should be asking yourself isn’t “can I afford to use social media?” but rather, “can I afford not to?”
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