What I have learned so far about social media is that: companies can create brand awareness much easier and quicker than in the past acting as almost instant word of mouth; it is less expensive than traditional advertising, even free for the small business owner; it is very easy to get started with; interaction with company feels almost personal to most; and products can be promoted in real time. Companies can now offer unique rewards or incentives to those who are willing to follow, engage and participate often with them.
Social media is an awesome outlet for small businesses that have to really watch their advertising budget. My wife used to have an online scrapbook store and I can remember how much we spent for a tiny 2” x 2” square in the back of a popular magazine. I can only imagine how much more successful the business would have been with social media. While the mega sites shell out a ton of cash to PR firms to run these social media campaigns, the average joe small business owner does not have to invest much other than time. I ran across an interesting article (http://dannybrown.me/2010/01/17/the-real-cost-of-social-media/) about the real cost of social media. It brings an interesting point of view to the table. I believe social media still wins out in the end, however for a large well established company it will never be free.
Grocery and household product pages seem to keep interest high with daily contests and coupons. Local business and restaurants can issue a special or sale instantly to bring in business. They can advertise a special theme night that they are having and create a buzz through Facebook or Twitter. Larger companies with bigger purchase items such as cars seem to focus on customer loyalty and personalization. I visited several car manufacturers Facebook pages to see what the marketing for a big ticket item vs. an everyday purchase would be like. The car manufacturers seem to have created communities for people to ask questions, brag and even complain about their products. I imagine this would give one a sense of “belonging” to the family. I found a great list of social media marketing examples here: http://www.beingpeterkim.com/2008/09/ive-been-thinki.html.
I feel that logically social media will produce much better results for products people use and/or purchase every day. I see it being less effective on big ticket purchases like cars and on services. I say this based solely on my own household observations as I have not come across any research done to show effectiveness. I may be completely incorrect, we will see as I learn more. My wife recently stalked Welch’s Facebook page for the greater part of the day waiting for them to post a high value coupon. Now that I think more about it, she is consistently following the “deal” blogs and “liking” companies on Facebook just to get a good deal. My own personal Facebook page has become victim to updates from companies I never have even heard of, the worst one being Veet Hair Removal Cream. Somehow, this page was “liked” through my account and I am now involved in the 31 days of hair removal.
One site that I just discovered and will take the time to investigate is http://www.evancarmichael.com/blog/2011/01/25/the-top-50-marketing-blogs-of-2011/. I’m looking forward to learning more about blogs. It would be foolish for any business owner to ignore social media or to put getting started off. It is everywhere we look. I even noticed when I was playing my son’s Angry Birds game when an ad popped onto the phone screen. The world of social media is new to me. It has clearly been here for a long time and I am anxious to learn all that I can about it. I hope that you enjoy learning with me!
