Frank Best International - An Easy-To-Understand Guide To Social Media

Is Social Media The Future Of Marketing?

What Is Social Media?

Social Media isn't any one thing but are several things that allow many people to communicate via the Internet: Facebook, Twitter, chat rooms, MySpace, YouTube, Linkedin, Flickr, etc. would all be considered Social Media. Other means of electronic communication like e-mailing and texting would not be considered Social Media because they are "one on one" communication.

Why Should Social Media Be Interesting To Advertisers?

It's a way to get direct feedback from customers and potential customers. If you own a furniture store, for example, people can comment on the store's MySpace page about what they like and don't like, and the storeowner or manager can, in turn, respond directly back. It's a way to engage people and better manage an advertiser's brand.

Is Social Media The Future Of Marketing?

Some enthusiasts say Social Media is the most important thing that's happened to marketing in decades. The truth of the matter is, like the internet, TV, print, collateral, outdoor, POP, direct mail, Video On Demand, etc., Social Media is another arrow in the quiver of ever growing communication tools. It just so happens to be the latest thing so everyone is intrigued. Let's look at an example. There may be 500 people in Nashville following the Nashville Zoo on Facebook – and those 500 people are important because they want to be engaged and communicate with the Zoo – but those 500 people aren't enough to support the Zoo throughout a season. That's why the Zoo also needs to produce TV commercials to speak to the other nearly two million people the region that are potential Zoo customers; and do print ads; and maintain a web site; and do promotions.

Is Social Media Free?

That's a yes and no answer. Yes, it doesn't cost anything to set up a Facebook page, a Twitter account, put something on YouTube, etc. But once those venues are established, a) customers have to know about them and, b) the venues have to be maintained. Someone of authority, knowledgeable with the company and its brand must communicate with customers. It also takes time to respond to and manage these venues. So the bottom line is a company winds up investing in SM more than it initially realized. A big thing to remember about Social Media is it is ongoing dialogue.

How Do Companies Get A ROI From Social Media?

That's on ongoing developing process. Again, Social Media was built to be about dialogue, not about selling. And yet, in can be about selling in an indirect way. For instance, if someone needs heart surgery and has a good Social Media experience with a hospital where their questions get answered and they perceive the person at the other end of the keyboard as knowledgeable and empathetic, that heart patient may choose the hospital for surgery, and thus, a sale is made. Or, if a customer complains about a furniture store's terrible service, and the manager of the store apologizes and invites the customer to come see him personally the next time they're in the store and he'll take care of them, that might impress another reader to give the furniture store a try, and thus, a sale is made. There are endless such examples. But the point is, any advertiser who uses Social Media and assumes it's a direct sales tool that will give the advertiser a projected ROI by a projected timeframe is probably going to be very disappointed.

So Why Should Companies Do Social Media?

Some shouldn't. It depends on the company. But very probably, most businesses that deal with the general public will adopt some form of social media in the not too distant future. To not do it is to risk giving an edge to your competitor.

Is Social Media A PR Device Or An Advertising Device?

It's both. But some companies are already overdoing the Social Media thing. Does someone out there really care about what songs the employees of Company X are listening to on Blip FM? Or a news flash on Twitter that Company X's president prefers soymilk over 2%? We already live in a society on information overload. So, a company needs to make sure that in its attempt to be accessible, what it is actually sharing is relevant to the brand.

What If I Take A "Wait And See" Attitude?

Given the current state of the economy, many companies will take this attitude. Especially since a direct ROI isn't obvious. But remember two things: One, although there is a cost in the sense of an investment of time, it doesn't cost anything to set up many SM venues. So, in this respect, it's an inexpensive new way to keep a company name's out there. Secondly, history proves time and time again that customers respond to innovation and, today at least, SM is an innovation. A year or two from now, it won't be. So, if companies want to show customers that they're "cutting edge," the time to learn more and act is now.

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