There has been a great deal of attention placed on social media as the next great channel for marketers to reach customers–and for good reason. Social media has provided consumers with a voice in the market. Companies that engage with those vocal consumers have the opportunity to gain greater insight into their customers and markets, develop direct relationships with their customers and hone their messages for their intended audiences. As a result, they have the ability to reap higher returns on their efforts and provide a better experience for their customers.
While social media offers great new marketing opportunities, businesses should consider social media as one element in their marketing strategy and marketing mix.
According to Edelman’s recently published 2010 Trust Barometer, 65% of people need to hear something about a company three to five times from multiple sources to believe that the information is likely true. Edelman goes on to say that “to advance reputation, companies need to be everywhere, engaging everyone.” Between 40% and 50% of people trust stock/industry analysts and business publications for information about companies while 35% of people believe information gained from conversations with peers.
What this study points to is the need for businesses to utilize many different avenues to get their message out and to reinforce the same positive brand, product and company reputation across multiple marketing channels. Social media can be–and should be–a core component of that marketing mix, but it should not be the sole focus of a company’s efforts.
