Post dot com period the much spoken Web 2.0 highlighted – the services provided by networks would be more and more dependent on the content created by users. Facebook launched in 2004, YouTube in 2005 and Twitter in 2006 have illustrated this power of network effect and led a phenomenal development that no other business line has experienced.
Social media platforms have truly revolutionized how businesses operate and made customer the driving force behind an organization’s strategy. Over the years such channels have helped in building customer expectations from a company and its brand perception. Companies are devising new mechanisms to interact with customers, employees and partners in order to differentiate. On the other hand customers expect best in class, anywhere and anytime service.
It’s obvious that businesses have realized that need to do social and do it better than others. However it is extremely important how these businesses take on this new medium and leverage it to its advantage. So even though it seems all very cool and positive in the beginning, there are number of problems that a marketer should watch out for –
- It needs a very dedicated setup and consumes lot of resources, be it time and money or people. So organizations need to plan accordingly.
- Many of the businesses go for social media because their competitors are doing it, without even understanding its reach, power and influence. Ideally businesses need to understand how the World Wide Web works first so that they can make best use of resources to reach the target market.
- The essence of social media success has been the platform it provides where people can interact and collaborate. Companies need to take into account; the comments and reviews people post and devise their go to market strategy to be as relevant and reachable as possible.
- Once a company adopts a social media marketing strategy, it has to make its presence felt there. The marketing team can’t run a campaign and then sit quite for next few months with a mindset that efforts put in would sustain for next few months. The usage of social media requires one thing and that is steadiness. One has to volley its target market with promotions in order to remain preferred choice of its customers.
- Constant checks to ensure that the methods that track the success of social media efforts are accurate and reliable. If one compares its sales before and after social media marketing every few weeks, what quantifiable answer these methods provide. If the tracking mechanisms are not effective, firms wouldn’t know if you they need to re-align or re-frame their strategies.
Lastly, the marketing team needs to look at expectation management. They first need to set expectations and monitor it continuously so that customer experience is not compromised. The team has to design and develop the social platforms, optimize those social networks and digital assets and update multiple networks daily with fresh content. After all, all these numerous platforms need attention.