As social media grows, more and more businesses have developed platforms on the Facebook, Twitter, and LinkedIn and as well as other modes. 58% of brands that have used social media marketing for over 3 years reported an increase in sales over that period. However, many businesses have chosen not to embrace this new marketing tool. The reasons are many, but a few seem to emanate from the shortage of time to devote to it or the lack of understanding to get it started. Whatever the reason, not being on social media can really hurt one’s business. Social media does not have to be overly complex. Brands need to concentrate on offering value, an attractive proposition and interaction. Social media creates general awareness and knowledge of the brand to potentially millions of users. Also, if the design and output of the content is professional and engaging then users will follow the brand as long as there is commitment to it. While the education module recognizes a natural learning curve, it is necessary to overcome it. The audience is there and waiting. Customers are on social media, which means brands need to be, as well. And though the tools are new and can be intimidating, the basis of social media is pretty much just talking to people. Companies need to make time to do that
Social media branding is happening whether a brand is on it or not. So, companies are losing out on conversations instead of joining in. People are talking about all industries, sharing reviews and stating opinions. Social Media is the opportunity to be a part of that conversation. Facebook reported 618 million daily active users for December 2012. Twitter reported more than 200 million active users. YouTube has somewhere around 4 billion views per day, and Google has 135 million active users. In addition, 43% of people aged 20-29 spend more than 10 hours a week on social media sites. Those are large numbers of people using social media. That is a large market of which to be missing out. It is such an easy and instant way to connect with your constant fans and potential customers. They can give feedback and show their support. Companies can address issues, converse with them and introduce them to the company’s brand character.
Social Media marketing is a way to reinforce conventional marketing endeavors. In addition, they can be displayed is across multiple platforms. Facebook can be used to introduce new products and services. Then, Twitter can be used to start a real-time gossip campaign. The opportunities are endless and relatively inexpensive to get the word out and in real time. There is a huge advantage to having access to real-time market information and feedback. A company can act on behavioral awareness immediately by delivering special offers and coupons to consumers while they are on the website or checking in on Foursquare at a brick and mortar store. Without a social media presence, all of these advantages would be lost.
Top 5 Reasons Why Not Using Social Media Hurts Your Brand (Feb 2013), http://sellmojo.tumblr.com/post/43387290486/top-5-reasons-why-not-using-social-media-hurts-your
Barone, Lisa (August 2011), 47 Percent of SMBs Sill Not Using Social Media. Oy!, http://smallbiztrends.com/2011/08/47-percent-smbs-still-not-using-social-media-oy.html
Gani, Osman (October 2012), Why Brands Need Social Media?, http://www.osmangani.com/why-brands-need-social-media/