So, I stumbled upon an impressive piece of work! The Social Media Marketing Industry Report..
Things every CEO/Manager/Entrepreneur/Business Student learn:
1. Best strategies and Tactics to be used to market your business and to attract more customers or opinions.
2. You should know how the round-robin works. You should check your groundwork and all people involved in the success to see how exactly you are benefiting from this Social Media Marketing Bandwagon!
3. If your still Stuck at first question (above). You should check some nice cases like Starbucks, Business Schools, Coca-Cola and see how they are using the power of social networks and try to start somewhere! I am doing this for my business school and working on this project I feel we went no where till we actually started!
4. How much time and in turn money will be spent on this endeavor?
And if you already have these questions ready. You might want to know how to handle the traffic once the rush hour kicks-in.
The starting is easy but maintaining is hard. Every other person has different opinions and questions and they can be tricky if not handled well. Thus the main thing is to maintain the information transparency. As the information flow is very fast paced and interpretations are different you might want to keep it simple. and Dont post any bull-sh*t or promise something you can’t deliver. People not only can sue you but also can spread the bad word so fast that you will not know what hit you.
Virtual Example: A burger chain decided to use their twitter account to spread the word for launch of their new burger. They started promoting through twitter with say #SmileBurger A new introduction. And they offered 25% off on all initial 10,000 burgers. Now, They have generated a good repo and a lot of people starting following them on twitter to see if they have some more offers under their sleeves. Now, you can do two bad things –
Do not provide the service as you requested!
Provide burger which is tasteless!
Keep customers waiting!
Dont have fallback plan on how to compensate if you ran out of product!
And start putting dumb or complicated offers along with current offer.
(All the above I just picked up randomly and there can be more)
Now any of the above or combined situation a negative stream can be rolled out on Twitter . #SmileBurger sucks!
#SmileBurger lines grew but no #Burger. etc etc.
and the same #SmileBurger which made your day can break your day! So you have to be absolutely sure before planning anything on Social Media Marketing scene.
Some other questions which need to be addressed are:
1. Which are the best sites for Social Media –
These are in performance order: Twitter-LinkedIn-Social Bookmarking Sites (Del.icio.us)-Facebook-Digg-Reddit-Blogs-Youtube-Forums.
2. Which is the most puzzling website for social media marketers presently?
Twitter, Friend Feed, Reddit, Digg, StumbleUpon etc.
3.How your business will eventually bring all your social media efforts together?
– This domain is still unexplored and there will eventually a need for an Umbrella site which can bring all these together. There are currently some applications which tie Facebook and Twitter together or the Share this links which bring all the Social Media Networks together but there is a need of a specialized product which can filter out all the unnecessary things from the posts and give your precisely what you want!.
4. Does this actually work?
Yes, does. Example is #JustinBieber and #Fc*KYou viral video. Of course there is Gmail track me in Twitter. A lot of big universities like Harvard and MIT has introduced a Social Media Marketing courses in their curricular.
Peace – Niranjan