There’s a bit of social media hype going on in the marketing world today. Many claim that social media is the very best way to reach current and potential customers. I’m not convinced. I do not believe social media is the very best way to reach customers.
I’m sure you find that statement interesting coming from a company that focuses on providing tools for multi-channel marketing with a basis in social engagement. If you look at the the world’s 6.9B people, the 400M Facebook users constitute an impressive capture rate (5.85%). But that leaves about 6.5 billion people unaccounted for—people who could be buying your product but may just not care to Tweet or share their family photos on Facebook. Social media may be one of the ways—and even the very best way—to reach some of your customers, but don’t ignore the fact that it’s not the only way to reach them.
The new frontier of social marketing DOES provide a tremendous opportunity for companies and brands to build close and trusted relationships with their customers and discover new voices on the real-time web. But it’s dangerous to approach the market with a plan that ONLY focuses on the social landscape. You need to look at social media as means to an end, and only one of the means available to you. If you can’t define the end, then you’re missing a critical step that will leave you wondering why you spent all those resources to manage your social marketing activities. That’s where marketing balance comes in.
Marketing balance is utilizing the best practice of creating an overall marketing strategy that includes the most relevant and rewarding tools and channels that are available to us today. The answer to “How should I market my product” should not be “social media.” The answer should be a combination—an artful balance—of those lovely 4 P’s (thanks Mr. Kottler) that we all loved to hate in college. Social media should be part of the implementation of your strategy, not a strategy on its own.
So what are some steps to achieving marketing balance? We’ll cover that in Part 2 of this blog post. And while you’re waiting with bated breath for the Steps to Achieving Marketing Balance that I’ll describe in Part 2, please let know your thoughts on how your marketing strategy has evolved or changed because of social media. How have you altered your approach to marketing strategy, messaging and tactics due to the opportunities afforded by social / new media? Post a comment!
