By Patricia Wilson, founder of BrandCottage
Arguably, in 2008, social media emerged as a marketing staple. So, what have we learned about the benefits of social networking? Does everyone benefit: business-to-consumer and business-to-business companies? Or, is social media just a tool for Lady Gaga and other megastars?
SmartPulse, a quickie poll from SmartBrief on Social Media, asked marketing leaders to identify who has most benefited from social media engagement. Top on the list of beneficiaries:
- Business-to-consumer companies (32 percent).
- Celebrities (31 percent).
In the early stages of social media experimentation, I’d say that’s about right. Does it mean that social media isn’t working for others, such as media companies and business-to-business organizations? Of course not. There are hundreds of case studies demonstrating the power of social engagement for all kinds of businesses.
The Right Social Media Mindset
What is true, frankly, is that business-to-consumer companies are often the leaders in innovative marketing. They’ve demonstrated their prowess in traditional marketing and they continue to lead the way with new media strategies. Why? Because business-to-consumer companies make brand image part of the corporate fabric (think Apple and Ford, for example).
Social media cannot be thought of as just another marketing gimmick. In her SmartBrief blog, social media consultant Mirna Bard is right on target: “It takes a mindset shift, time, willingness to learn and commit, as well as consistency. These elements combined with the right strategy and tools can be powerful for any business or person, whether they are using it for training, internal communication, prospecting or even to become a celebrity.”
In other words, it takes a 360-degree cultural shift and commitment for social media to work. It is no small task for some organizations to move from defensive, controlling, top-down driven organizations to ones that are open to 24/7 engagement and, yes, even criticism.
Looking Ahead on Social Engagement
In The State of Corporate Social Media in 2011, from the Useful Social Media Community, 50 percent of U.S. companies said they still do not have a staff member devoted to social media. However, all U.S. companies surveyed said that social media is becoming a more important part of the marketing strategy and 29 percent project social media budgets to increase by 100 percent or more in 2011.
“Whilst marketing and communications retain their dominance as the main reason companies use social, customer service, employee engagement and product development all see significant growth [in the United States and Europe],” according to the report.
What is Social Media Worth?
Is social engagement worthwhile? The real answer to this question, for many companies, is unknown. Most do not measure social media ROI. But when you look at leading companies — Dell, Starbucks, Ford, Coca Cola and Apple, for example — it is easy to see the power of social media as a marketing tool.
Companies are still learning about social media’s power. For some, the transition has been easy (they had open cultures to begin with). For others, it’s going to require more than establishing a Facebook page or Twitter feed. It will mean substantial cultural shifts.
Or, as Lady Gaga sings: Baby I was born this way.
Patricia Wilson is the founder of BrandCottage, a media marketing company with offices in New York, Atlanta and Washington, D.C.