In today’s economic climate it is difficult to believe there is something to be excited about, but according to eMarketer.com there is a silver lining to be found in online marketing
Social Media Spend
Even as the traditional advertising and marketing budgets are being cut, online is spending is increasing. This is the most dramatic in the newer online marketing tools like social networks, which are predicted to see an increase in spending of over 25% from 2008 to 2009. From the users (read consumers) perspective social media has moved to the mainstream. The latest report from Nielson Online shows more people are now using social networks and blogs more often than email.
Although there is always debate over new technology and online practices a tide has turned in the social marketing space and brands, agencies and publishers all now realize the importance of creating, managing and enhancing their presence on social media. Also the budgets are now shifting from “experimental” to mainstream as companies start to grasp the power and impact of innovative social campaigns.
The question now is what can you do to be successful in such a dynamic and unpredictable space. The companies, technology and tools are changing so rapidly that what worked only 3 months ago may not work today. This is a difficult challenge but not impossible and there are a few trends that you can use to build a strong foundation.
Social marketing is more marketing that traditional display advertising. When dealing in such a dynamic space. It is critical to create an engaging exciting experience that is both relevant and viral for the end consumer that may not be delivered by a traditional ad buy.
Metrics are not a nice to have but an absolute need. Although measuring brand lift and consumer sediment is hard there are engagement metrics that can be tracked understood and used to build a better more successful program. It’s about people; advertising has always been about connecting with people the new breed of social networks are now one of the most exiting and growing platforms to engage. In 5 Years Facebook achieved 150 users becoming the fastest growing customer technology ever. (Faster than iPod – 7 Years – Cell phone 15 Years – Television 38 Years) To be using these social networks to their full potential is critical.
So there is something out there that is worthy of getting excited about, the question now is just how can you join in and start connecting on this new level with your consumers.
