Social Media is one of the pillars of Marketing that has recently taken considerable importance in the overall marketing strategy of businesses. Companies are investing increasingly on social media planning and marketing because of its efficacy, return on investment and interactive nature. Internet has given rise to a new platform for pricing, promotion and customer engagement that gives power and control in the hands of the customer. But is it safe to assume that a successful social media strategy will ensure a product or brand’s success completely?
A successful Social Media Campaign is the one which creates greater customer engagement, greater brand awareness and helps the companies depict the brand as one that is liked, appreciated and accepted widely.
However, the main purpose of marketing is to guarantee an increase in revenue by increase in sales. And if this core objective is not met, then marketing hasn’t worked. A brand might me the most talked about brand and most liked brand, but all this should help companies gain better market shares.
Marketers often use a lot of metrics to judge the success of a social media campaign. This can be number of likes, new fans, new visitors (channel traffic), actual conversions, etc. But a great performance on all these metrics should not be taken up as the success of the overall marketing strategy.
Marketing is aimed at reaching out to customers in different ways. It can be through conventional mediums or through social media campaigns. Every touch point (Moment of Truth) with the customer or stakeholder is important and if neglected can be detrimental to success. What if a social media campaign is highly creative and is successful in raising brand awareness? Marketing still has to make sure that the brand expectations are lived up to and each response of the customer is taken seriously that leads to a better product or a better service.
Marketing is an ongoing activity that is based on building relationships with the customer that is base don’t on total trust, commitment and transparency. A successful social media campaign can strengthen this relationship. But a small lapse in customer engagement leading to dissatisfied customers can break the relationship in moments. Marketing has to make sure that the products or services that are bought by the customer are exactly as promised. A Brand has to be live up to its promise and this is not a onetime activity nor dependent on one channel of marketing. All channels of customer engagement should work in conjunction to be consistent in the brand promise in order to ensure the overall Marketing success.
A successful Marketing plan should merge the social media metrics in its strategy. It is an important part of the overall strategy that cannot be overlooked and neglected. But the other channels of customer engagement are equally important and should have their own metrics of measuring customer engagement and returns. A Marketing strategy can be successful overall only if it is successful on all fronts and ends up gaining higher market share and more profitability for the businesses.