Social Marketing, The Perfect Storm

Social networking has enabled consumers to move faster than the brands that they shop for. Mark down 2009 as the year when brand marketers experienced a full frontal realization that social networks are, in fact, a mass communications medium. With this realization comes another wake up call, Social Marketing must play a big role in the overall marketing mix. As Jeremiah Owayang writes in a recent Forbes article, “Brands need to develop a strategy and a plan to respond–not simply react–to the latest technology.”

Like many others in recent days, Owyang takes a look at the trends of 2009 that drive the decisions of the future. He identifies four key trends that senior marketing execs should give some thought to.

“The Recession Spurred Consumers to Adopt Social Technologies.” It’s not just the enabling technology that caused the movement. Hard financial times also drive people to connect to one another. High unemployment levels also contribute by giving people more time to connect. Motive, means and opportunity equals the perfect storm.

“Some Brands Followed Suit with Social Marketing.” The story says that print budgets have been cut by 37% and television by 21%. Brands are hurting too, so it makes sense that they also look for lower cost means and innovation. More money is being directed at Social Marketing due to its low cost and high return.

“Social Networks Share Data, Spreading Social Influence.” Social networks are connecting with other systems. This means the consumer experience can spread like wildfire because opinions and experiences won’t be limited by software or service provider.

“Consumers Move Faster By Sharing Real-Time Data.” A bad customer experience can now travel to the masses at the speed of thought. Real time updates allow instant feedback so brands have to learn to move faster. Even good service recovery practices may now be too late to turn the tide.