Don’t you think that the term ‘Social Media’ is so overused and generic that it has become almost meaningless?
The term encompasses such a wide range of possible applications and ideas that it has evolved into a catch-all buzzword that is applied loosely to anything which involves Facebook or Twitter.
I believe that there is value in dividing the term into its two constituent parts: literally ‘social’ and ‘media’ and making clear what we’re talking about when we are discussing social media marketing (and, just as importantly, what we’re not).
‘Social’ – I see as the interactive, always-on, listening ear that brands must attune to the online voices of their users. Brands need to be human and remain open and available through the social channels in which they engage (whether that be a Twitter feed or a Facebook page). There are many ways to achieve this. Indeed, over the past 18 months, a number of specialist agencies have been formed to assist brands in doing just that, but this is a long term (not to say full time) strategy, and the usual advertising boundaries of flight time, launch period and return on investment do not particularly apply. Rather, what we are measuring here, if indeed it can be measured meaningfully, is the interaction, the dialogue, between a brand and its customers. This demands constant monitoring, and a committed and open exchange between the two parties.
‘Media’ - in this case - means campaigning within the social space and buying ads inside that space. The social web gives us the opportunity to reach out to previously unimaginable numbers of consumers online, who are all connected with each other in some way. These consumers are fully engaged and expecting, at some point, to be exposed to, and to engage with, advertising messages. And there is evidence that users are prepared to exchange their time willingly. Take the success of virtual currency, for example, a system which allows users to exchange their (valuable) time for a virtual reward. A model so successful that it has prompted Facebook itself to enter the space via its Facebook Credits scheme. This opt-in advertising model can, in my opinion, only grow to encompass other areas of the web. Indeed, we could be on the threshold of a genuine sea change in the way that brands invite consumers to purchase their products and services.
Brands interested in generating a meaningful digital strategy, be it a pure branding play, or only within the direct response arena, must acknowledge the social space as a key part of any media plan. But, the focal point must be – what is their objective; what exactly are they looking to achieve? Only when this end goal has been clearly defined can a meaningful social strategy be realised.
The emergence of branded Facebook applications has, to some degree, muddied the water, insofar as brands have a new engagement tool which fits perfectly with the ethos of social – that is, of sharing content and engaging with it in a social manner, with friends and family part of the process. And, over the past year or so, we have seen the number of brands which build apps grow and grow, as advertisers realise the potential of having their customers return for some face time with them on a daily basis.
So, with just a cursory glance, we have identified the distinction between social PR, brand reputation management and social advertising. My point is that these various disciplines of social media are equally valid, and can be employed successfully - whatever your brand objectives. I think, though, that the secret is to understand the aims of your brand, and nail down your objectives before implementing a strategy. Only then can the social web really fulfil its potential and deliver benefits right across the spectrum, from a friendly and responsive brand image to actual bottom line sales.
Luke Hayter
Sales Director, Adknowledge Europe