No longer simply regarded as an industry buzzword, social media continues to escalate in popularity among both corporate marketers and agencies as a cost-effective and invaluable marketing strategy. The latest hype – using Facebook, Twittter, LinkedIn and blogs – also impacts marketing home products.
Everyone is Doing It . . .
A survey from Forrester Research found that more than 50 percent of marketers said they will be increasing their spending on social media marketing in the coming months.
Virtually every marketer surveyed (145 global interactive marketers) said they used social media as part of their integrated marketing campaigns.
Why Social Media Marketing?
Online communication is increasing at an exponential rate, verging on becoming mainstream. A recent Netpop Research report, “Media Shifts to Social,” found that 105 million Americans contribute to social media. Other key findings, according to the report, included data such as:
- Social networking has grown 93 percent since 2006
- Seven million Americans are “heavy” social media contributors (six+ activities) who connect with 248 people on a ‘one to many’ basis in a typical week
- Fifty-four percent of micro-bloggers post or “tweet” daily
That said, social media has enormous potential and despite popular belief, it’s not just for kids or college students. According to a study by TNS Compete and the Consumer Electronics Association, “Greying Gadgets: How Older Americans by Shop for and Use Consumer Electronics”:
- Seventy-seven percent of 50-somethings, 71 percent of 60-somethings and 52 percent of 70-somethings have used a search engine in the past week
- Twenty percent of 50-somethings have used a social networking site in the past week
- Twenty-four percent of those 70+ have watched an online video in the past week
Value of Social Media Marketing to Your Brand
Whatever your marketing objectives in the home and building channel, social media lends itself to a huge audience with vast potential. Even better, social media marketing can be relatively inexpensive, providing a lucrative marketing strategy with a high return on your marketing investment. Consider your marketing goals and determine which social media tool is best for your brand.
Below are the top ten ways a social media marketing strategy can benefit your company.
- Generates brand awareness
- Manages brand reputation
- Allows for targeted, niche marketing
- Promotes products, services and breaking news
- Fosters customer loyalty
- Networks with customers
- Seeks/creates media opportunities
- Supports/launches viral marketing campaigns
- Enhances company impact at events
- Provides venues to monitor your competition, industry trends, etc.