The Social Network Marketing report analyzes why marketers have been unable to crack the code of social network advertising.
The declining US economy and slower-than-expected revenue growth at MySpace are two reasons for the lowered near-term social network ad forecasts.
Advertising is not the only way for marketers to participate in social networks, however.
Although social network advertising—banners, search ads and new ad formats—is not growing as expected, other forms of social network marketing—encompassing tactics such as customer communities and influencer outreach—are proliferating.
Marketers still need to be where their customers are, and consumers remain heavily involved in social networks.
It’s good to see that marketers are realizing that traditional advertising on social nets is not the way that social marketing works. However, the last line, “Marketers still need to be where their customers are, and consumers remain heavily involved in social networks” keeps me wondering . . .
Showing up and being there is not only not enough, it misses the point: social networks are about engagement, participation and collaboration. Being where your customers are is like trying to pick up a gal at a bar through just by standing in the corner and hoping she notices you. Come on Romeo, roll up your sleeves, slick back your hair and buy the gal a drink!
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Love your post! It is so true. Not that we have been able to completely crack the code but engagement is the key to the fortress. If you can engage the consumers through social networking then you will be able to find the “it” factor. Just simply being there is not enough. And at times is even inappropriate. Medical companies, stores, stanley steamer… they don’t belong on Facebook or My Space. Interaction is what consumers want! So jump in the deep end but make sure you contribute.
http://www.kbconway.wordpress.com
kbconway, thank you for reading and for continuing the conversation with your comment. One thing that’s tough for organizations to figure out is how to personify a company or brand with one social media person as the face of the whole organization.
I think that @starbucks does a pretty good job with this on Twitter, for example. I really do feel like I have a personal relationship with Starbucks via Twitter even though I know that it’s just a single person behind the @Starbucks name and his/her personal identity is not revealed.
Ah, you just used two of my favorite topics in one post – dating and social media.
Thanks for this preview! I constantly have a brainstorming session going on in my head about how we can monetize online content withOUT ads. It’s an ad media world out there, and I don’t like being stuck there.
Emma, 🙂 I couldn’t agree more! Thanks for reading and for commenting. We are most certainly in need of new revenue models. I am intrigued by: contributions to support valuable content (blogs, etc.), micropayments for virtual goods in video games and virtual worlds and premium service upsell models.
May God continue to bless you as you continue to provide quality and informative substance to your posts. God Bless – Rev. Jim Wilson
Great post on Social Network Marketing.
I especially like the end part
“Being where your customers are is like trying to pick up a gal at a bar through just by standing in the corner and hoping she notices you. Come on Romeo, roll up your sleeves, slick back your hair and buy the gal a drink!”
Thanks for sharing,
Larry