In The News

Tue 13 Jun 2017

Harnessing The Power of Social Media

Business By Social
Social media and networking concept

Social media is no longer a luxury marketing tool for businesses; to stay in the market share race social media is now mandatory.  It is exciting technology and an extremely cost effective and successful marketing tool.  How do we harness the power of social media and stand out in the crowd of information overload in today’s data world?

Have a social media marketing plan

In a digital world, your social media plan should no longer be a small subsection of your overall marketing plan.  It should be treated as a full and comprehensive plan of its own.  The marketing plan should include; analysis, strategic target market planning, what/how/when objectives, strategies around business product, price, place and promotion (commonly known as the 4Ps), implementation planning, budgeting and lastly evaluation.

Choose the social media platforms that align with your strategies, objectives, type of business and target market.  With the rapid increase of people using their phones to search and engage with, ensure that whatever social media designs you use, they are smartphone capable.

Keep up with the changes in social media so you are not left behind.  For example some businesses were not interested in Instagram however now it has video capability, it is more enticing to a wider range of businesses.  A picture tells a thousand words but a video may be even better at conveying a targeted message.

Brand Relations

One very powerful aspect of social media, that can take unknown companies to great heights, is brand building using consumer interaction.  Brand relationship intensity covers 5 levels; awareness, identity, connection, community and finally advocacy.  These levels cover consumer sentiment from being product aware and considering purchase all the way to participating in online communities eg. Facebook or openly promoting favourite brands on and offline.  In this form of marketing, your customers advertise and brand build for you, at little cost to you!  Companies even run competitions for consumers to come up with their advertising campaigns.  This promotes ‘buzz’ around products as well as promoting extensive brand awareness.

Law and Social Media

Social media is moving at lightning speed and the law is reacting.  Enjoy using social media to expand your market share and sales but ensure you know the laws and any changes to them that pertain to social media use.  The critical areas are

  • Privacy laws relating to collection and use of data
  • Online Expression including; The Spam Act for unsolicited commercial electronic messages, expression relating to children, and criticisms of product and industries
  • Digital Property; patents, copyright, trademarks, licensing, trade secrets and data ownership

Not adhering to these laws could destroy your business overnight.

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