The Story So Far
We have all grown up with the famous story of the three little pigs (although I like the alternative 3 little wolfs variation as well). The moral of the story is obvious people who work hard, work smart, save money, think ahead, and help other people, will come out on top.
In marketing you wouldn't recommend a business to build their marketing solely on social media - it is just not good advice. Social media is just one part of the marketing mix.
Likewise the idea of solely being digital is not right for every business, it is important to recognise and use offline marketing (if it fits to your target customers). Again as a stand alone focus it will deliver results but be limited. Like the 3 little pigs using the right materials are vital to a solid marketing strategy.
Jeff Bullas wrote a good piece Social Media Marketing’s Biggest Myth that quite rightly argues the need to focus on being relevant and informative:
"The reality is that “social media” is based on self-interest. People on social sites are looking for materials which are useful to them.
Content defines the value to your customer - why people will either ignore it or share it. Content strategy is then a defining part of any online strategy. Here is a great presentation that drums home the importance of content for online marketing.
Mixing the Bricks and Mortar and Working Together
So if we return to the three little pigs story - our marketing should consist of mixing our marketing to produce a solid foundation and the people we invite to help us are our customers; because if they help you (and more importantly want to) you may develop a community.
We can't cover everything so I have focused on email - some people see email as an enemy of social media i.e. email vs. social media. The truth is, done well they should compliment each other (but it also depends on market/customers...).
Email Facts
- 72% of companies rate email as 'excellent' or 'good' for return on investment (EConsultancy)
- Email adoption high but lacking in best practice - the relevance, context and targetting (download pdf - Forrester) also support by MarketingSherpa 2011 Email Marketing Benchmark Report (download here)
Email is getting Social
- 6 Smart & Effective Email Marketing Tactics (Mashable)
- 7 Steps to Improve Your Email Marketing (Practical Commerce)
- Integrating the Facebook like Button into Mailchimp campaigns (Mailchimp)
Both Constant Contact and ExactTarget acquired businesses in the social arena, namely, NutshellMail and CoTweet. Why - well they recognise the value of social data and are looking to use this to build more precise targeting methods based on social data.
Putting the Story back into Marketing
So what is the role of social media within the marketing mix? Again this is big subject but here are a few reasons why it is an important part of any business now:
- people trust people (Source Nielsen) and therefore we look for what are friends or others say about brands/products and services
- brand communities can provide an ongoing development of a relationship with brand as opposed to a start stop approach (see blog post by Olivier Blanchard)
- brands can understand (and quickly) what their customers are saying - a dynamic feedback loop providing ways to improve your product or service
- researching customers (you can understand their online/offline behaviours and refine your marketing and provide value to them (this comes back then, to your content strategy)
- using tools to linkin with Facebooks open graph you can use the data to understand your 'followers'
- it is where you customers are spending their time online and hence where you can help them e.g. customer service
This is by no means an exhaustive list, it just meant to illustrate the opportunities and relevance of being social. In todays world we want the human connection as well. We can never underestimate the power of the human story, the connection we feel with it and the emotions that they evoke. Look at some of the highest ranked video's onYouTube and you will understand what I mean. When done well, social media builds as the brands facilitate the story of others as well as solving problems, communicating relevant messages and adding value it can also tell the stories of its people.
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