According to an
article by Kevin O'Connor, president of User Insight, the social media shift has meant that now "the consumer really is king." In the current landscape, social media has been identified by many businesses as both a great threat and opportunity.
Successful and innovative companies are able to get over the initial overwhelming of the size and power of this platform, their inability to control the public messages that are communicated around their brand. Brands must work harder on an ongoing, current and personally-relevant strategy if they hope to receive mindshare of these consumers; the 'earned' media of word-of-mouth that they so desperately desire. And with 92% of consumers trusting earned media (
NielsenWire, 2012), developing this relationship is crucial to the success of brands. This can require significant work but clever and committed companies can reap the rewards.
"Most of the social media interactions (chatter) are triggered by offline experiences, and these experiences give rise to word of mouth which is carried online." (Heather Albrecht, 2011). The conversations we are participating in have not changed, it is simply the context which has been updated, and the reach multiplied exponentially. Brand experience and customer satisfaction is still at the core and we need to listen qualitatively to our customers, how they interact with brands and what's important to them. Facebook offers an ideal platform for building this relationship in a participatory way.
I have discussed the current communication model of participation branding in a previous
post, tied to this trend in the current media landscape is the growing importance of
Social Influence Marketing (SIM). SIM hinges on the power of sharing and is defined by talented digital training professional
Heather Albrecht as:
"a technique that employs social media and social influencers to achieve an organisation's marketing and business needs."
The infographics below show some of the key statistics driving marketers towards these social platforms and their continuing growth as an advertising environment. With 90% of all purchases being subject to social influence and over 150 million people engaging with Facebook on external websites each month (
DigitalBuzz, 2011), it's easy to see why. 74% of CMOs believe they'll tie social media efforts to hard ROI this year, are you one of them?