“The internet has upended how consumers engage with brands. It is transforming the economics of marketing and making obsolete many of the function’s traditional strategies and structures. For marketers the old way of doing business is unsustainable,” says David C. Edelman in the Harvard Business Review and all I can say is Amen to it.
It was indeed a nice, little controllable world for marketers, till the consumer didn’t have the power to create his/ her own communication. He could be bombarded with the one-way tirade of 30-second commercials and full-page glossy ads.
Not anymore. The communication carbine has suddenly changed hands now. And marketers are running for cover. It’s unfamiliar territory for them. It certainly is advantage consumer in round one of web 2.0 up until now.
The silver lining is that it certainly isn’t an enemy who’s got the gun; there surely is light at the end of the tunnel. The consumer’s also holds a white flag in the other hand. He too wants to have a dialogue with you. In fact it’s dialogue that social media is all about.
The first thing about this whole business of Social Media Marketing is to get ‘social’. It does require a paradigm shift in the mindset of the marketer, from a monologue he’s been so used to a real dialogue. From speaking to listening. Consumer too seeks answers, solutions & an enduring relationship.
In fact it offers the biggest opportunity, the most powerful set of channels, the strongest relationship building adhesive, the most cost-effective and above all measurable tool that businesses ever had. It is a boon for the small & medium businesses & individual entrepreneur who could never afford the atrociously priced traditional media.
It is this understanding of how Social Media Marketing can be used for both strategic brand building as well as more tactical; enquiry enhancing, sales increasing activity that we shall learn & explore as we move forward in the posts to follow.
I look forward & welcome your ideas on the topic as well as what you’d like to know.
VIA Marketing Forum invites you to a 1 hour session on ‘SOCIAL MEDIA MARKETING – HOW YOUR BUSINESS CAN PROFIT FROM IT’ on Sat 5th Feb, 6:30 pm at VIA, Udyog Bhawan, Civil Lines, Nagpur. I shall be making the presentation.