The entry of social media into the Internet marketing world has changed the trend of brand-consumer dealings completely. Social networking websites have a pivotal role in this interaction which has made brand-building more accessible. But again, social media alone cannot be used for brand building. It has to be tactfully combined with paid media to make a far-reaching trade name reputation.
The era of using TV ads, celebrity ambassadors and multi-million dollars' worth print media ads in isolation to promote your brand are long gone. Today, any brands worth their salt are taking a long, hard look at their marketing strategies and rethinking their efforts to integrate multimedia and multiple channels of communication and social media is beginning to take center-stage.
Social Media Promotion
Brand Equity, or the perception of an individual on a product's appeal, is tough to manipulate physically; only a good marketing strategy can make a difference in your product's sale. Of course, an adequate budget is compulsory in this case; but, expect to see your reach hit new highs. At the end of the day, your customers need to be convinced about the true value of your product. So brand awareness needs to be spread appropriately. Social media platform is not only cheap, but also builds your brand easily.
The good thing about social media marketing is that you can begin to build an audience at a relatively low cost in comparison with traditional media. This platform may not be the be all and end all of marketing, but this is a fresh and effective method. You can connect with a huge fan base easily. Word of mouth is a powerful tool – and takes on new meaning with Social Media - to spread brand equity and create a unique brand experience with the audience.
Internet Marketing 2.0
Businesses can use the influence of social media in popularizing their product, but monitoring channels and conversations has now become a 24/7 activity. The most major change for brands has come from finally needing to accept the fact that a real-time response and brand ownership are no longer outliers.
Some of the major objectives and concerns we've seen are:
- Creating a huge fan base that stays faithful.
- Communicating with a personal touch.
- Replying to fan queries on community pages tactfully.
For well established brands, the built-in equity is strong enough to sell newly launched products on the social media platform. If you're starting from scratch, however, try focusing on niche demographics like a geographical or an age group or a professional base.
The thing is, we're all looking at new concepts and a paradigm shift across the industry. Words like "virality," "going rogue," "Likes" and "Re-Tweets" have taken a strong-hold in boardrooms everywhere; exciting times, but certainly still full of turmoil.
It's going to take a while for the dust to settle, and whether or not it will completely still remains to be seen. What's definitely not going away, however, is that we're going to be in a constant state of flux for a very long time.
If nothing else, then we're going to see a few, really cool, case studies emerge. Share with us how you've realigned your brand strategy to accommodate Social Media. We'd love to hear your side of the tale.
About the Author:
Sarvesh Bagla, CEO at Techmagnate, is an entrepreneur, an avid reader and an expert on Social Media Optimization & Internet Marketing. He has earned his Master's degree in Information Networking from Carnegie Mellon University in Pittsburgh, U.S.A. Follow us on Techmagnate.