Social Media in Marketing

Social Media in Marketing

What the heck is social media and what role does it play in my marketing? This is probably a question I wouldn't have received two years ago, but yet today it's the most common question that enters my inbox. 

First off, let's talk about what social media is. Social media represents low-cost tools that are used to combine technology and social interaction with the use of words. These tools are typically internet or mobile based. A few that you have probably heard of include Twitter, Facebook, MySpace and YouTube. 

Social media gives marketers a voice and a way to communicate with peers, customers and potential consumers. It personalizes the "brand" and helps you to spread your message in a relaxed and conversational way. 

The downfall to social media, if you could call it that is that it must be a part of your everyday life in order to keep the momentum and attention you need for it to be successful. 

If you think that social media is only for the small business owners that are trying out an experiment, I have to correct you. Here are just a few companies that have become involved in social media: 

Absolut Vodka - Online Video on YouTube and Using Facebook to house their Top Bartender fan page. 

BMW - Utilizing Facebook to promote their 1-Series Road Trip and they have created a Rampenfest Page for fans. 

Dunkin Donuts - That's right they've found value in social media and have set up a microblogging Twitter account. 

Barack Obama - In my examples, I can't leave out future President Barack Obama. He has been seen as a leader in the use of Twitter during the Presidential Election. He has over 170,000 followers and is following over 165,000. Personally I remember the "twitter buzz" during the Presidential Debates as well as the election. 

As you can see we have adult beverage companies, exotic automobile manufacturers, pastry shops and our future President using social media tool, it's not to hard to figure out that there is something to it. 

What role should it play in your marketing? As most of you know my view of marketing is it's a tool we use to inform consumers about our products, who we are and what we offer. Social media does that. Here is how:

• We can use social media to provide an identity to who we are and the products or services that we offer.
• We can create relationships using social media with people who might not otherwise know about our products or service or what our companies represent.
• Social media makes us "real" to consumers. If you want people to follow you don't just talk about the latest product news, but share your personality with them.
• We can use social media to associate ourselves with our peers, that may be serving the same target market.
• We can use social media to communicate and provide the interaction that consumers look for.

As you can see social media carries with it a lot of value, but how do you do it right?

• You cannot just depend on social media, you must integrate it with other vehicles of marketing. While social media will create awareness, I'm not convinced that in the beginning it will sell a million dollars worth of product. That's not to say that one day once you've built up your social media "stardom" that it won't, but it probably won't happen tomorrow.
• Be yourself, reflect personality. There are no written "right" or "wrong" rules when it comes to social media, only you can determine what will work for you.
• Be consistent, if you do not plan on being consistent don't do it at all - it's a waste of everyone's time.

Success stories are abundant when it comes using social media from headhunters that find job applicants to new businesses that want to introduce a new product as well as already established Fortune 500 companies that want to strengthen their brand. The role of social media in your marketing is to use it as a communication tool that makes you accessible to those interested in your product and makes you visible to those that don't know your product. Use it as a tool that creates a personality behind your brand and creates relationships that you otherwise may never gain. This creates not only repeat-buyers, but customer loyalty. Fact is social media is so diversified that it can be used in whatever way best suits the interest and the needs of your business.

Social media marketing success factors

The success factors for developing social media marketing are summarised through the different parts of our 7 Steps to Social Media Success Guide:

1. Set business goals for your social media – it’s best not to experiment without a clear idea of how social media will support your business goals.

2. Create a social media strategy. A strategy will help you to deploy social media in the best way to reach your goals by prioritising on the channels in our RADAR which are most effective.

3. Active social listening and reputation management.  Most advice on social media marketing strategies advises to start by listening to your conversations. We prefer the term coined by Brian Solis in his book Engage of “Active Social Listening” since this shows the need for a feedback cycle within social media marketing.

4. Define content and engagement strategy. We’ve noted that encouraging engagement and participation are the biggest challenges to social media marketing, so clear strategies are needed to show how to achieve these.

5. Define communications strategy. In the social media era, a continuous communications strategy is necessary to engage your audience through the many channels available. Key issues here are defining the types of content value you offer through different social channels and the frequency. Integrating different digital channels including email marketing through a social media marketing hub is also a key issue here.

6. Deploy best practice approaches for the core social media platforms. Each social media platform such as Facebook, Twitter and YouTube has unique characteristics and audience needs. There is also a bewildering array of tools to deploy and etiquette to follow so you won’t be seen as a spammer.

7. Social media optimisation. You may have a presence established, but this is only the beginning in your journey to optimise your presence to deliver real value for your business.

Source:
http://www.businessinsider.in/SOCIAL-MEDIA-ADVERTISING-The-Rush-Into-Social-Is-On-Led-By-Spending-On-Mobile-And-Programmatic/articleshow/43355757.cms 

http://www.adweek.com/news/advertising-branding/glimpse-marketers-social-media-strategies-159962

http://searchenginewatch.com/category/social

http://www.smartinsights.com/social-media-marketing/

http://www.socialsamosa.com/category/social-media-strategy-reviews/

http://marketing.about.com/od/strategytutorials/a/socialmediamktg.htm

http://www.smartinsights.com/social-media-marketing/

 

Need For Chief Marketing Technologist

The emergence of marketing automation tools such as Hubspot and Marketo with their addition to traditional database marketing, customer relationship management systems and social media marketing tools, has given rise to a new role that’s a cross between a traditional chief marketing officer and chief technology officer.

The evolution of the mix of these traditional roles has given birth to the chief marketing technology officer (CMTO) who is focused on marketing, but not in the commonly understood sense of the role. Rather, the CMTO is helping companies make sense of and exploit vast amounts of customer data and market data by using significant technology and analytical expertise.

The key focus areas of the CMTO are managing various technologies bolted together to enable this analysis – transforming social data into actionable insights and sales and ultimately delivering coordinated marketing campaigns in multiple channels, simultaneously. In other words, a multi-tasker of note.

Do trends dictate roles?

In some instances, yes. Some trends tend to be so powerful that they can dictate the actual job description of those operating within the realms of those trends. Big data has been bandied about as one of the most prolific trends which incidentally has given rise to the re-description of some job roles.

With the continuation of customer and market data, the chief marketing officer’s role (CMO) is becoming more measureable than ever before. Opinions about what customers actually want to see or which ads will work, are being replaced by hard analytics – this has given rise to a numerically-focused role that the CMTO has morphed into.

The growth of technology in marketing

According to a February report by Gartner, it has been predicted that by 2017 the CMO will spend more on IT than CTOs, therefore marketing budgets are larger than IT budgets, and growing. Some facts:

• In 2012, the IT budget decreased by 0.4% annually.
• The annual high-tech marketing budget however increased by 0.7% in the same period.
• Much of the budget increases have already been spent on technologies to assist marketers with analysis, analytics and automation.

How are marketing professionals responding to tech adoption in their organisations?*

The emergence of marketing automation tools such as Hubspot and Marketo with their addition to traditional database marketing, customer relationship management systems and social media marketing tools, has given rise to a new role that’s a cross between a traditional chief marketing officer and chief technology officer.

The evolution of the mix of these traditional roles has given birth to the chief marketing technology officer (CMTO) who is focused on marketing, but not in the commonly understood sense of the role. Rather, the CMTO is helping companies make sense of and exploit vast amounts of customer data and market data by using significant technology and analytical expertise.

The key focus areas of the CMTO are managing various technologies bolted together to enable this analysis – transforming social data into actionable insights and sales and ultimately delivering coordinated marketing campaigns in multiple channels, simultaneously. In other words, a multi-tasker of note.

Do trends dictate roles?

In some instances, yes. Some trends tend to be so powerful that they can dictate the actual job description of those operating within the realms of those trends. Big data has been bandied about as one of the most prolific trends which incidentally has given rise to the re-description of some job roles.

With the continuation of customer and market data, the chief marketing officer’s role (CMO) is becoming more measureable than ever before. Opinions about what customers actually want to see or which ads will work, are being replaced by hard analytics – this has given rise to a numerically-focused role that the CMTO has morphed into.

The growth of technology in marketing

According to a February report by Gartner, it has been predicted that by 2017 the CMO will spend more on IT than CTOs, therefore marketing budgets are larger than IT budgets, and growing. Some facts:

• In 2012, the IT budget decreased by 0.4% annually.
• The annual high-tech marketing budget however increased by 0.7% in the same period.
• Much of the budget increases have already been spent on technologies to assist marketers with analysis, analytics and automation.

How are marketing professionals responding to tech adoption in their organisations?*

The stated technologies in the table all require a faculty with numbers and technology that the CMOs of the past did not need and on average 30% of marketing-related technology and services are bought by marketing directly.

CMTOs are more strategic than tactical

Marketing professionals today are expected to be more technically proficient and are also turned to for strategic guidance as opposed to straight-forward tactical implementation. Here are 10 practical scenarios where Experian says the CMTO would be valuable:

• Managing the tech stack.
• Understanding cross-channel interaction.
• Delivering coordinated, multi-channel messaging.
• Delivering more relevant display advertising.
• Measuring marketing performance.
• Turning social media data into actionable insight.
• Addressing the CEOs strategic concerns.
• Breaking free from IT-marketing deadlock.
• Enabling agile marketing.
• Dealing with new marketing technology still to come.

What’s the big deal?

The emergence of the CMTO will enable new efficiencies in organisations, while giving the new role more ownership and influence than either CMOs or CTOs had

Source:

http://www.mondo.com/rise-chief-marketing-technologist/

http://info.shine.com/article/why-the-need-for-chief-marketing-technologist/8401.html

http://info.shine.com/article/why-the-need-for-chief-marketing-technologist/8401.html

http://memeburn.com/2014/08/what-the-hell-should-a-chief-marketing-technology-officer-do-anyway/