I wander everyday on search engines, SNS(social networking sites) and explore this beautiful thing known as Internet. I love SNS for many things- to mention one- I would say, I like the sheer power it carries. Yes, it is certainly very powerful. Why? because of the abundant information it possesses. That information can be easily transformed into a knowledge resource and as we know - Knowledge is a powerful weapon when utilized. Businesses investing in social media marketing will definitely agree with me on that. But apart from this attribute of ‘being powerful’ i also appreciate SM’s ability to unite people, to attract different individuals from varied backgrounds on a common stage and then giving them the freedom to express, share, and connect with people. This aspect of social media is definitely going to play an important role in years to come. People will leverage upon this benefit of social media much more than what they do now. Say for instance Pooja want’s to consult a skin care specialist in Mumbai, she then posts an update on Facebook asking her friends to refer a few, her friend raj in turn gives her the contact of rhea who recently got the treatment done, pooja then adds rhea as a friend and with her reference contacts the specialist thus availing some discount. This was just an assumption but let me give you my own experience of ‘connecting’ through SNS and getting free advice. Couple of months back I did a search on LinkedIn to see if there’s anyone who could provide me with some clarity on Internet Marketing. My interest was in knowing how Internet Marketing is as a career option and what all skill sets it calls for. After a couple of searches I came across Giacomo’s profile, Mr. Giacomo is Digital Strategy Director,McCann Worldgroup. He’s backed with years of experience in Sales&Marketing especially digital. I then simply sent a add request and a small message asking for some information on Internet Marketing. To my delight I got a reply within 2 days, he answered all my questions and also forwarded certain links which helped me understand the skill sets required. I was joyful not just because my questions got answered but because I got the advice from a person of such a high stature, and that too for FREE ;) . Such is the power of social media, it has made people so accessible, when was this possible before the Facebook era (i refer to this era as the facebook era). Even before the questions pops in your mind there’s an answer ready for it, a solution present for a problem.
That was about how individuals like you and me benefit, let’s talk about business now. Traditional media like print, TV,etc do continue to be highly preferred ones when it comes to advertising but now they are witnessing the silent grand entry of a new media- social media. Internet no doubt, offers limitless possibilities for firms but because it still hasn’t reached the masses across India it still has a long way to go. But in metros it has already spread it’s wings. Youth especially is hooked onto sites like Facebook, Orkut, LinkedIn,etc. Now how a business firm benefits from this. Say for instance you are small sports shop in Mumbai, you offer sports equipments and other related stuff. You don’t have a hefty budget so you start listing down your options to reach your prospects- the youth. You strike out TV and outdoor because it’s way out of your budget. Then you have the option of radio, print. You strike off radio thinking it does offer reach but few seconds do not ensure effective message delivery. You then decide to do print, you select your newspaper and the spot which fit’s in your budget. You do a weekly campaign and do get some response but feel it’s not enough, you want to create a loyal base and engage the youth with your brand. What you want is a buzz, then you go for a new media- social media. You decide to target the youth on Facebook. On FB you get the option to choose the demographic, area you wish to target, age wise, sex wise, and many more. FB can offer this because of the information it has about its users. You then decide to specifically target youth in Mumbai between the age of 15-25 years who have written sports in likes and interests column. And there you go, you have successfully reached your target market and got them talking, your ad is displayed whenever they log in - they then ‘like’ your offerings, they can instantly share it with friends, and reply to you asking for more. What more do you want? You have engaged your target market. Unlike TV, print, radio,etc. there is no pilferage of advertisement, your ad reaches only whom you want it to reach.
Recently Kotak Securities, India’s leading stock broking house created a page on FB. Through this they post updates, international market updates, etc. Interested people can share the information, like it, or comment on it. Kotak, has made the right Marketing move because financial institutions need to come out of the pure transactional model and get into the engagement model. With so many other firms offering similar products/services how do you stand out? How do you keep customers coming back to you? Engagement is the answer and Social Media is the tool.
There’s a lot more to be discussed about the social media, which we will in other articles. One of the cultural values of my company is “We love internet, and we thank God for it”. I firmly believe in it and accept it from the bottom of my heart.
Now let’s get out there and Socialize ;)
