With the undeniable fact that statistically Aussies are the highest consumers of social media in the world, one fact also remains undeniable small to medium businesses have yet to follow suit.
According to studies by COSBOA (Council of Small Business Organisations of Australia) 56% of small and medium businesses have yet to use social media as a marketing tool and have no plans to start. Yet, for the 28% of Small Business enterprises who have dipped their toes into the waters of social media the benefits have been found to be immediately apparent. COSBOA executive director Peter Strong says of social media, "The best attribute of social networking is that it is one of the few level playing fields that exist in the world." It is a well known fact that social media is the great leveller where no business really has the competitive advantage, if you are able to spend 20 minutes a day on social media and create great social engagement you have just as much chance of being successful as the largest corporation.
Mr Strong goes on to say, "...big business doesn't have a personality, as small business does. A small business is really akin to a person and that will always be reflected through social media."
One of the factors that inhibit many businesses from getting social is that social media is a slow build; measuring ROI is more ephemeral than with traditional advertising and organisations must create and maintain a continuous conversation with their market on a daily basis.
Business is more used to event and campaign based marketing and finds this easier to deal with, however businesses who continue to think and act this way will miss out on moving with the times in the short term and being left behind the pack in the long term. To initialise a social marketing campaign business must first develop a personality and a brand culture that must remain consistent throughout all marketing engagement from that point on, integration of this brand personality and culture with all on and offline marketing and advertising is the only way to reach a consistency which results in consumer advocacy.
Social Media is a two way conversation between brand and businesses who have converted their marketing successfully are holding sway in the enormous online marketplace. With over 500 million users on Facebook alone brands need to realise that this is where there market is hanging out.
The social phenomenon has proven that consumers are more in control than ever before in history and the ability to make brands accountable is very strong as proven in the consumer driven campaigns against brands who have failed to understand this fact. Consumers now expect to engage with their brands, ask questions, answer surveys and be included in brand decisions along with expecting brand transparency in return for their trust and advocacy.
Businesses who are about to take their brand online need to understand a few very pertinent facts about using social media with skill, intelligence and strategy:
- Understand that social media is a prime customer care channel where customer queries can be answered and problems solved thus reducing costs for telephone customer service personnel.
- Consumers expect brand transparency and engagement - not advertising on social media channels
- Consumers expect to speak with the 'voice' of the brand on social sites and to have their conversations responded to on a regular if not daily basis
- Consumers expect authenticity from businesses using social media and want to know the 'voice' of the brand is human and approachable
- Consumers expect brands to collaborate with them in many ways online including responding to feedback, product ideas, customisation of services etc..
- Businesses who respond to consumer ideas, feedback and customisation ideas by releasing new and innovative products and services will find consumer trust and loyalty grow exponentially as a result
- Facebook, Twitter, LinkedIn and YouTube are currently the top social media platforms with Facebook as the largest and the most conversational
- Businesses who use social media in these ways will find themselves at the top of the marketing food chain as they create and innovate new products, services, packages and marketing tools following consumer wants and wish-lists - they will be thought of as trend-setting and innovative by the market and word will spread
How quickly news 'good' or 'bad' can spread on social media is demonstrated in this story: when Michael Jackson died of an overdose the news had already broken on Twitter and Facebook - before - the ambulance had left the estate! The message is clear for small to medium business: to gain and early advantage over their competitors, they need to start developing a social media strategy now.
Keys to a successful social media strategy:
- Take it slow - start with one social media site and establish a presence, better to do one site really well than several poorly
- Get your business a blog - creates trust and respect and brands you as the expert
- Have a plan - a plan for where, how often, why and expected goals and outcomes, develop your brand personality and culture as part of your plan so that it remains consistent
- Listen - hear what users are saying about their wants, needs, challenges etc.. in your market
- Connect - Follow or friend influencers, in other words find the people who already have a profile in your market, begin interacting with them and quoting them
- Connect 2 - Follow or friend quality people, blanket following returns you a poor quality list of people who are often more focussed on marketing to you than listening to you, so follow people who are interacting with you and your brand as listeners. Quality over quantity every time.
- Contribute - reply, respond, answer questions, recommend and provide great information without selling as this builds trust and respect for your expertise in your target market
- Converse - engage, ask questions, answer them, survey, create competitions and recommend your own product/s and service/s once you have established trust and respect
- Continue - be consistent, add value, and allow your brand personality and culture to grow user advocacy for your brand
- Innovate - use consumer feedback and trends to create new products, services and packages,
- Rinse and repeat!