Browsing Tag

engagement

Social Media

Are Brands Oversaturating Social Media?

The overnight popularity of Facebook and Twitter (CNN and Oprah) has resulted in a influx of social users; last month, Comscore reported that Twitter had 9.3 million visitors and Facebook had 200 million.  The spotlight on social media has driven record user registrations; brands are following suit, using Twitter & Facebook as promotional tools.

Has the mass adoption of social media by brands and retailers led to its oversaturation?

No it hasn’t, no more so than the mass adoption by consumers. Television and print attention has pushed social media to the next level (the only place it could really go); garnering it mainstream, mass appeal.

I believe the question of “oversaturation” is actually another issue being raised by social marketers that have had amazing social marketing successes until now. Now, their clients are asking for more quantifiable, measurable results and they can’t produce the results.  Furthermore, these individuals are finding that they more competition established agencies and boutique outlets with more bandwidth. More marketing firms are integrating social media divisions; they know it’s necessary in order to stay viable in today’s market.

These divisions  and individual marketers are developing strategies that have taken social marketing to the next level. We can now build brand awareness, convert new users, drive web traffic and convert that traffic to online sales. We are monetizing social media, which has been the ongoing question from the beginning of web 2.0. We’re saying that social media success isn’t defined by how many fans a brand’s Facebook page has, how many followers on Twitter a brand has or how many retweets a particular topic recieved. We are saying social marketing success is shown through sales conversions and growth.

How do brands and retailers change their online marketing strategy?

The social engagement strategy (the way in which a brand or retailer interacts with it followers and fans) for brands will follow a similar model that they’ve taken with customer service (listening and providing amazing experiences) and be more involved with their followers. Brands will cater their social outlets to their fans’ and followers’ wants & needs (ultimately let their fans shape their social media strategy); thereby cutting through the noise being generated by the larger volume of retailers online.

What marketing tactics should brands take into account for social marketing right now?

1. A brand has to have a strategy. Don’t launch or implement anything haphazardly. If you want to develop a Facebook or iPhone application, don’t do because it’s cool or you want one. Do an analysis of what that application will do for the brand. Will it build awareness, will it generate sales or drive web traffic? Ask yourself, “Why would someone choose to integrate my app over someone else’s?”

2. Active engagement. If  you’re a brand with a Facebook page or Twitter account, actively maintain them. Use your Twitter & Facebook page as you would use your blog, share information, add photos, report trends, new products, event promotions, etc.

Your blog, facebook and twitter content should all match. Make sure you talk to your fans and followers. If someone friends you or follows you – THEN FOLLOW THEM BACK (you can use Social Too to maintain this). It rude not to follow your customers back, unless they are spammers or absolutely insane. Here are some great examples of fan pages:

3. Don’t completely replace old promotion methods with social media. Use social media to enhance traditional marketing initiatives; only use social media for things worth marketing. You don’t always have promote sales, discounts, etc. Interact as a person, not a robot. It’s okay to share great office stories, runway malfunctions and behind the scenes info; it allows your customer to identify with your brand. You’ll recieve a better return on the time invested and you’ll set yourself ahead of the competition.

This posted was inspired by Twitterati: So Last Week.

Marketing

10 Steps To Building A Social Brand

On Monday, The Footwear News section of WWD.com conducted multiple, in-depth interviews with Zappos.com CEO, Tony Hsieh and CFO, Alfred Lin. After visiting Zappos in October last fall, I fell in love with them. Their brand, their customer philosophy and the humility that they conduct their business is amazing. Zappos receives tons of press and coverage on their business (a $1.2 billion dollar company after just 9 years).

The interviews with Zappos on Apparel, Zappos Facts and Marketing support the 10 steps to building a social brand I believe that a brand or retailer need to accomplish in order to become a social success.

1. A brand or retailer should take a holistic approach to it’s marketing strategy.

2. Consistency is key. For every product a brand or retailer launches, the product must match the company’s main product model. Example: Coach & Brighton Handbags, both brands have added shoes, jewelry and accessory lines; all these products match and coordinate with their original product – hand bags.

3. Word-Of-Mouth Marketing more powerful than paid advertising or product placement. Word of Mouth marketing has replaced the effectiveness of paid advertising. A customer believes their friend or relative, they trust them as a reliable source of information.

4. Product reviews are a new form of PR. Product reviews are essential sales tools that add credibility to a product and aid in customer purchase decisions.  Product reviews also help buyers change their selection before the purchase; if 85% of those reviews say that something runs a size too big, the customer can buy one size smaller, there by decreasing their likelihood of returning the product.

5. A brand or retailer can do more with less. Discover what social communities (Facebook, YouTube, MySpace, Polyvore, Closet Couture, Lookbook.Nu) are most worthwhile to your brand and put your time and energy into those. It’s better to actively engage in 3-5 communities than have a so-so presence on 15-25.

6. Social networking on sites like Facebook.com, YouTube, Twitter are essential for spreading word of mouth, building brand awareness online and engaging with customers on the internet.

7. Blogs are essential. They are cost effective (free) outlet for building website content, supporting SEO/SEM campaigns and delivering news. Blogs also give transparency to brand or retailer, it shows there’s someone behind the site. A great example is 1928 Jewelry’s blog, http://www.jewelrygalblog.com or Hayden-Harnett’s blog at http://www.hayden-harnet.com

8. Video and Podcasts are cost effective marketing outlets. Videos serve many of the same purposes as blogs. Not all customers will read blogs, but they watch videos and stream audio. Having content available in all mediums is going to be essential for retail websites in the future. Current 25% of Google searches are comprised of VIDEO; videos are also essential for SEO/SEM initiatives. In the future, all brands are going to need to incorporate video into their websites. Those videos will need to be an extension of the brand, not just a part of the website; they will have to be incorporated in.

9. Affiliate marketing is an easy, affordable to drive traffic and build brand awareness for retailers. The return is similar to that of pay per click advertising, a great traffic booster  and revenue booster.

10. As an online site grows, the marketing strategy must mature. As the retailer grows, affiliate programs may become obsolete. Direct mail and search engine marketing allow a brand to control its message more effectively and may prove to be more cost effective.  A brand or retailer will eventually have to invest in large scale advertising, much like Hulu.com and Zappos.com are doing now.