Features and tRends

(July 2008)

Modernize Your Business Plan

Incorporate Social Media into Your 2009 Marketing Plans

By Alicia Diaz-Verson and Lyndsey Forster

One of the indisputable top buzz terms of 2008 - social media - is currently taking the digital era by storm. Social Media is defined as interaction between people using technology to share pictures, videos, audio and thoughts. Only in its infancy, this online phenomenon has already become a multi-billion dollar industry. Last month it was reported that the top two social media sites (MySpace and YouTube) recorded over 137.6 million visitors combined. If you think social media does not pertain to you, think again.

Social media perhaps may be the most powerful technological force to be reckoned with since the demise of the typewriter and the emergence of personal computers. In the corporate world, social media can provide a platform for a community of shared brand advocacy. Unfortunately, social media faces a stigma due to a lack of knowledge about how this medium functions. With photos, wall postings, tags, pokes and more, social media can often feel as difficult to understand as learning a foreign language. Casual explorations into social media can help relieve the knowledge barrier and increase the comfort level in incorporating new media into a valuable marketing plan for 2009.

It’s Not Just for Kids – How the Business World Can Leverage Social Media
Social media covers many platforms, including photo sharing, blogging, RSS feeds, social networking, message boards, podcasts, and video sharing. It’s no surprise that it can be overwhelming to many as countless sites are available for social networking and community interaction. YouTube is likely the most recognized of the social media sites, but others including LinkedIn, Myspace, Facebook, and Flickr are popular with certain demographic and attitudinal groups.

According to Internet Retailer, “Marketers realize the growing importance of online social media.” Not surprisingly, all industries can benefit from engaging in social media. Businesses slow to adopt will unquestionably face becoming outdated over the next few years. Shrewd companies are placing a heavy emphasis on augmenting existing business plans with social media. Others are incorporating Web 2.0 into next year’s business strategies.

Shel Holtz, principal of Holtz Communication + Technology, declares in her blog that Web 2.0 has expanded the current Internet experience beyond that of a one-way street. The desire to belong and feel connected is paramount in today’s increasingly disjointed society. Human beings are social animals, and the Internet provides a unique platform for people to interact in more ways than ever before. The cornerstone of social media is community.

Follow the Leaders
Online shoe retailer Zappos.com is at the forefront of engaging in social media. Tony Hsieh, CEO of Zappos, actively participates in social media to achieve exposure for Zappos.com, thus increasing customer satisfaction and sales from $1.6 million in 2000 to $597 million today. By utilizing online sites such as Twitter, employees at Zappos.com are able to immediately respond to consumers’ inquiries and derail unfavorable comments. Twitter enables users to publish their own thoughts extemporaneously, or tune into information streams from around the world. Similarily, according to an article published by the Public Relations Society of America (PRSA), the Red Cross uses Twitter to keep volunteers and families up-to-date on needs and supplies during natural disasters.

The legendary and world-renowned French jeweler Cartier, recently joined the ranks as yet another preeminent company on the cutting-edge of technology. AdAge.com depicts the social media tale of Cartier, which recently launched their ‘Love by Cartier’ campaign on MySpace. Cartier’s entrance onto the social media scene is yet another reminder that mainstream Web 2.0 sites have broader audiences than people often assume. It's also an endorsement of a global ad market and the appeal of doing one buy that can stretch across multiple geographies.

Moving Your Company Forward with Social Media
So now you are probably asking, where do I begin? First, consider your target audience and identify the goal for your social media program. Is it to increase sales, improve your brand’s perceptions, or to increase interaction with customers? Also think about what kind of measurable results you need to achieve and determine which venues will best provide you with that feedback for your marketing program.

In order to effectively incorporate social media into your business plan, position yourself and your company as experts. By creating valuable and knowledgeable content users, customers will trust your opinion. Roger Bauer explains, “The more quality content associated with you and your company, the more likely someone is to contact you or your firm.”

When implementing new media into your business plan, follow an approach that includes participation, immersion, transparency, and engagement with your key audiences. It may seem daunting at the onset, but self-guided involvement is the easiest route to better understanding.

Ease your way in with pseudo participation by simply observing the phenomenon that is social media. Explore the web and identify social networking niches pertinent to your industry. Once you feel comfortable, begin by commenting on various blogs and following people on Twitter. To truly get a grasp on the social media force, immerse yourself and be sure to maintain a transparent, candid posture, and allow your affiliation to be known. Finally, as you make advancements in your comfort level with social media, engage with your target audience members by creating your own blog or Myspace page. Sites such as www.blogger.com are user-friendly, as well as easy to update and maintain.

The Information Age has revolutionized life as we know it. If you haven’t embraced social media yet, put your worries aside and keep an open mind. The question savvy entrepreneurs face is not if they should include social media, but rather when.

For assistance with implementing social media into your company’s business plan, call Steve Kleber at 770.518.1000 or email at sk@kleberandassociates.com.

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