Don’t Deny Your Business the Power of Social Media

The following is a post from Meghan Veroneau, TIG Global Marketing Coordinator.

Did you know that social networking accounts for 1 of every 6 minutes spent online?
But of course you already know that social media is lining up as the predominant method for marketing your brand. Don’t get me wrong, traditional media marketing still exists, but the power that social media marketing has in influencing and engaging consumers still continues to knock our socks off.

So how do you get in on the goods? Make friends with your consumer! Here are a few tips on how to be like Tim Gunn and make it work.

Think about how your consumers utilize social media:
Your consumers are going to use social media to: keep in touch with friends; ‘like’ or share their favorite brands, TV shows, music, books, etc.; upload pictures/videos; share links; are you getting the idea?
Sharing links with friends, whether news articles, videos, travel sites, or the latest fashion trend, is a common activity on social media sites. I’m not sure about your Facebook news feed, but mine constantly populates links that my friends are sharing with other friends, or posting for everyone to see. Not only is this form of word-of-mouth from a trusted source (i.e. friends), but it will most likely influence a purchase decision. Not to mention, as a recent post from our own resident social media guru, Brian Bagel, it just so happens to be one of the cheapest forms of advertising you can utilize.

As a brand, you need to learn where your consumers are, have a presence there, and learn what your consumers are doing online in order to reach them effectively. Knowing what they do can have a powerful impact on whether they choose you or a competitor.

How your consumers react to you on social media:
Consumers are going to search for you on social media sites. But, this doesn’t mean that simply just being on social media is enough. You have to be active and establish a brand voice and constantly engage your followers, or it is most likely that consumers will forget about you.

Social media allows you to be interactive (think: polls, quizzes, contests, trivia facts, etc) with potential and current customers. It is a constant give and take that allows you to provide information to your consumers, as well as gather information that is key to establishing your brand positioning.

However, with all of that said, customers do get bored when you lean towards solely bragging about your brand and its many accolades. Think about posting information about your surrounding area, special deals or promotions on the horizon, or cool upcoming events instead. Put something out there that has value to your consumer.  It is this type of information that will stick with them, draw them back for more information, or even better, cause them to think about you when traveling to your area.

How Social Stacks Up:
Some of the latest social media statistics (from eMarketer):

  • 34% of US social network users were at least somewhat more loyal to brands they were fans of on Facebook
  • 46% of respondents in 2011 said they were more loyal to brands they followed on Twitter
  • 64% said they would be more likely to make a purchase from that brand, if the brand responds to them on Twitter
  • Earlier this year, as a key indicator of growth, eMarketer estimated that worldwide social network ad revenues alone, not including money that companies spend developing presences on social networks or hiring staff to manage them, would reach $5.97 billion in 2011, a 71.6% increase over 2010.

Of course, there will always be those few consumers who want nothing to do with brands on social media and there’s nothing you can do about that, but the good far outweighs the bad in getting front of primed and interested consumers, so get out there and join the conversation!

Still not convinced of the power of social media? The infographic below, courtesy of PR Daily, nicely sums up the power of 60 seconds in the world of the internet and social media.

Interested in ramping up your online strategy? Check out the full suite of TIG Global interactive marketing tools, send us an email, or give us a call +1 301.841.4700(US) | +44 (0)20 3004 9468(UK)

2 thoughts on “Don’t Deny Your Business the Power of Social Media

  1. July 5, 2011 at 2:27 pm

    Great article on how and why small businesses should be using social media as a major part of their marketing strategy. You certainly provide convincing proof with your graphic statistics.

    I’m always on the lookout for fresh ideas on the “how” to do use social media effectively. Thanks for this well written and documented article!

  2. July 8, 2011 at 1:38 pm

    But you can measure your lack of results with ever increasing levels of precision. Thats why you integrate off line and online and advertising with many other tools in your marketing communications mix.Why do we ignore the ads better online? This social media thing is not just about a series of tools that whomever you hire needs to be more or less proficient in using to help your business.

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