Social Media Marketing

A 3/11/09 New York Times piece entitled "Be it Twittering or Blogging, it's all About Marketing explains how the owner of a wine business achieved a much better return in investment using Twitter than he did from other forms of marketing. Here's his website.

Mashable reports an eMarketer survey of small businesses from January 2009 that shows online marketing with social networks is the area of marketing likely to grow fastest for small businesses that year.

Social networking sites have rich information about users that could be used to target ads, but their efficacy not yet proven. Facebook offers pay-per-click and pay for impressions ads, but the results are inconsistent so far. Much product information on social networking sites is not controlled by marketers.

However, it's not always easy to turn attention into clicks. A 2/7/08 NYT article reported that Google's deal to advertise on MySpace had brought disappointing results. A 12/14/08 New York Times article reports that it's difficult to advertise effectively on social networking sites on Facebook because few people want to be "friends" with a brand.

Visa has a social networking campaign running using Facebook. And "your fund wants to "friend" you.

Even Bill Cosby is marketing on the web, with a Flikr stream, the micro-video site 12seconds, MySpace, Facebook and Twitter.

Burberry is trying to reach new customers online by opening a social networking site called artofthetrench.com.

For Christmas 2009, retailers were using Twitter and Facebook for promotions and to provide immediate customer service.1. It's all about "engaging with the brand", something that fashion photographer Nick Knight does by tweeting as he conducts magazine shoots2

Social Media Marketing Tactics

  1. Develop an audience
    1. Create a large number of followers on Twitter
    2. Create many links on LinkedIn
    3. Cultivate friends on Facebook
  2. Continually create news
    1. New products
    2. New special offers
    3. New blog postings
    4. New videos
  3. Put links to the "news" in your Tweets or LinkedIn profile or Facebook status
  4. Hope that others pass the link to their friends, and they to their friends, and so on and so on

Here's Mashable's Social Media Guide for Small Businesses.

Market Research using Social Media

Try searching for "bathroom" on Twitter. What themes emerge? How could you use that information?

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