Modern Marketing For Smarty PantsOctober 18, 2009 by: Enogg
Indeed there has been a shift in marketing prioritization plans due to the shift in online consumerism and B2B connectivity options. Companies that are attempting to develop a more modern marketing plan need to keep the following in mind:
Personalization- It is important to maintain a personal touch or relationship appreciation that grows and nurtures the client-base.
Participation - Companies with a sound marketing program allow the customer to participate in the brand. The customer or user-community have a say in what the brand stands for, the goods and services that are sold, and for shaping the direction and future of the company. This can be a very dynamic and rewarding exchange.
Peer-to-Peer - It is important to facilitate peer-to-peer customer networks to further drive brand recognition and marketing success. The consumer is no longer passively being spoon-fed from advertising enticements or conditioning which forces perceived consumer acceptance. The consumer will be actively involved in shaping the products and services.
Modern Marketing requires a developed online presence leveraging the viral marketing components of the Internet and tapping the functionality of a Social Network. Another vital step is to develop a sound communications plan that will help drive brand loyalty.
The following areas are important ingredients in shaping the plan:
Advertising - Choice of media (TV, newspaper, cell phone, Twitter, Facebook, viral, radio, word of mouth, etc. )
Promotional Sales - Business Development Sales plan.
Marketing Public Relations - Create awareness and demand through press releases. Find insiders to evangelize the product stack. Develop and collaborate with charitable organizations to build the brand and community minded appeal.
What is Social Media?
Social media describes the online technologies and practices that people use to share opinions, insights, experiences and perspectives with each other (Wikipedia 2007)
“I post on blogs because I express myself to millions of people at once. I like the rush, and I feel empowered.” An Internet Blogger
“I believe the bloggers and their ideas. They are my friends and will tell me the truth, unlike advertisements.” An Internet Blogger
“Engagement is all about making it relevant to the consumer.” James Speros, Chief Marketing Officer, Ernst & Young
A Key Quote
“The editorial/reader relationship is a one-to-one conversation, and in time it creates a bond of trust, of belief, of expectation and of empathy. It is through the quality of this relationship that an aperture or opening to the reader’s mind and heart is created, through which advertisers can establish communication.” Advertiser with Readers’ Digest
Looking towards tomorrow’s horizon, there are emerging trends in the Social Media environment worthy of consideration. Putting on futuristic glasses you may spot a few trends that will help shape the Social Media landscape. There are exciting new trends emerging that are beginning to shape connectivity and interactions between people. More significantly, the trends are beginning to shape new business models.
Watch for the Trends
With the increased growth in Internet traffic, which is made more accessible through cable, DSL, and satellite connectivity, there are significant emerging trends that point to changes in how the global population uses their free time. In particular, as the population moves away from TV usage and towards Internet usage this will have a remarkable impact in building social economic environments over the Internet.
The most important trend reflects that media power is shifting into the hands of the consumer. This is an unprecedented shift. More and more the public is controlling media, which represents their choices in global products and services. From Tivo to blogs, the global population is having a greater say in how media is distributed, censored and developed. Content is king and with the exponential growth in the blogosphere, the public has more say and power with regard to their media, consumer brands and overall media content. The consumer plays a large role in how businesses operate. They have a greater say in shaping their products and services.
The first trend is towards more honest and open communications. Sincerity and integrity in business will rank high. Those companies that do not adhere to tight standards regarding business ethics will be left in the cold and subject to the opinion of the blogosphere and social network communities.
A good example of this is when Dell Computers had a hellacious day in the blogosphere when an Internet user posted a picture of a Dell laptop that exploded into fire during a meeting. The uncomplimentary photo of a Dell laptop ablaze was accompanied by countless comments and remarks that were sure to bring the brand to its knees. Instead, Dell used this as an opportunity to initiate sincere and honest dialogue with their consumer base. They set up an interactive blog, which answered questions and addressed the issues. Open communication is key. With much finesse, Dell computer did not point any fingers and took responsibility. While reading the posts however, it became clear that the explosion and subsequent fire was not due to Dell’s faulty manufacturing but to a Sony battery that ran hot.
The next trend will involve advertising and how it is viewed, distributed and aggregated. There are many changes shaping the advertising landscape. Let’s face it; everyone hates TV advertising, unless it's funny - like the Mac commercials. But mostly, TV and radio advertising is generally ineffective. Effective advertising supports brand loyalty.
Most people buy a product or service based on a peer recommendation. As Social Networks start to reshape the future of Internet connections, more and more advertisers will find that placing relevant, valuable and meaningful advertising will indeed provide increased advertising ROI. In particular, Social Network providers will find an increase in advertising revenue due to their ability to provide their user-community with a valuable experience coupled with relevant data. Advertising plays a big role in supporting, shaping and providing relevant resources for Social Networks. Leveraging this trend will be key in establishing your Social Network.
Stay Tuned For Part 3 on Social Networking Trends
From The Desk of EnoggEggbert
Business Social Networking For Smarty Pants -
Part 1: Developing A Social Network That Compliments Your Marketing Plan