Social Marketing Could Save Your Business in 2008

Could social media be the key to your marketing woes in 2008? According to an article published by DirectNews, the answer is yes. The article sights an online promotions consultancy group named Oneupweb which reviewed companies like Nintendo, Coach and Pronto.com.

Lisa Wehr, the firm’s CEO, stated that “This is exactly what online marketers need to do to be successful in a rocky 2008 economy.” I find it difficult to agree with Lisa when it comes to modeling a social media campaign off of another company. Social media simply isn’t that formulaic.

The problem with assuming that social marketing and social media can ’save’ your business is like putting your eggs in one basket. Marty Wientraub of SearchEngineWatch said it best when he describes social marketing as a “double-edged sword.”

Think about what you are trying to accomplish with social marketing. You are attempting to create third party credibility by turning the public into brand ambassadors. This theory works great if your product can stand up to the critiquing and your company handles all of its marketing honestly.

The problem with pinning all your hopes on social marketing is that you are going to try and force the issue. We have seen time and time again that social media can not be forced into expressing an opinion. It can be nudged by helping create exposure points with key members of social media but it can’t be made to express an opinion.

Social marketing works best when it is used in conjunction with standard marketing. By creating a fun social campaign that reminds people of your traditional marketing campaign you can assure success. Success does not come from having a popular Youtube video, though it helps.

What are you thoughts on marketing in the social realm. Can brands build superior brand equity by targeting social media? Are customers more likely to follow a brand because its online social campaign and the product enlisted their friends as ambassadors?