Marketing is an age old concept but its definition and means keeps changing as our thoughts changes. After centuries that one mode that still scores till date is ‘word of mouth’. But surprisingly even this mode has adapted itself to various technological changes and it can better be known as ‘word of fingers’ than ‘mouth’ lately.
Social media marketing is the new born child of the age old ‘word of mouth’ technique. It centers on creating attractive content to people that makes them to talk, blog, chat, ping, update, tweet, bbm and so on. Content is given the utmost priority. This easy to reach communication medium acts as a relatively cheap mode to reach the customers for better brand awareness, customer satisfaction and of course selling.
But not everyone gets this mode of marketing right. Social media – it is easy to get but difficult to use it right. Companies start making so much content available to the public without analyzing its impact. No product is ‘one size fits all’ and thus the marketing approach shouldn’t be the same. Choosing the right platform for the right audience and the right product for the same is extremely important. Social media marketing may become sloppy if shot gun approach is used and THIS usually happens because it is a much easier and lazier approach.
Social media marketing in every sense has the capability to backfire. How will that be when there are thousands of negative remarks about a particular product in the product’s official page? That could happen if social media marketing is in wrong hands. Yes, it still could be used as a feedback forum, a recovery mechanism to be back on one’s foot. But it is always said, ‘to be the best do it right the first time else there is always someone else who will learn from your mistakes’ and through social media the opportunity for both the type of people is higher.
So can a company go for social media marketing? – Well the answer is yes they can and they should to stay in the race. There are companies who do it well. Social media consumes people. ‘Let me log off in just five minutes’ usually never happens, the sessions tend to last for hours and that is the power of social media.
Choose the media correctly, the kind of people who use it, when and for what usually is the first step to make things work. American Express, P&G, Coca-Cola are some examples who have used social media at its best.
One best example is Tiffany & co, whose portfolio reaches out for a diverse audience addressing their needs from fine jewelry to silver. Tiffany & co boasts with over 3,346,704 fans in Facebook (number 1 luxury brand in terms of fan count), 240,000 members in Twitter who are active and also maintain the ‘luxury’ nature of the brand.
Named as the ‘Digital genius’ of 2012 in L2 Digital IQ Index, this brand has outperformed 46 other brands in sites, digital marketing, social media and mobile through its marketing approach ‘what makes love true’ whose website (www.whatmakeslovetrue.com) was started to include user generated contents including true love stories, special moments, pictures and videos.
Want to take your loved one somewhere? Want to write her/him a special note? Music, gifts for your love? – It is all available in this teal colored website which emphasizes what the brand stands for.
In January 2012, Tiffany & co took this website one step further by joining forces with fashion blogger couple Scott Schuman & Garance Doré to create a new Instagram gallery documenting real couples in love in Paris and New York. Then this Instagram integration opened its doors for the fans to tweak it – use their pictures and turn it into a postcard.
What more, Tiffany & co has come up with 4 new downloadable Instagram filters – Tiffany blue, peach, and black and white; a I-phone app – ‘engagement ring finder’ (hallmark in bridal apps) which helps people to design their own rings; the short film in YouTube ‘will you marry me’ directed by Edward Burns with real life love stories and the map called ‘love Is everywhere’ to explore various placed of love.
Social media marketing is THE new face in Marketing 3.0. And ranking 70th, the only jewelry brand in the inter-brand top 100 list with a double digit (15%) growth in its brand value, brands like Tiffany & co does it right when it comes to social media marketing.
The article is authored by Kritika from IFMR.
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