Business and Finance Analysis

Social Media Marketing and Social Networking

It has become increasingly important to have a presence on social networking sites like Facebook and MySpace. In addition to these popular social networks, there are also many specialized social networks that might be the perfect place to set up camp for specific products.

For example, a musician might set up a profile on Last.FM as well as MySpace, while a movie might be best promoted through Flixster in addition to Facebook.

Social networks not only give the marketer a place to get the word out, they also provide a place to interact with customers and allow customers to interact with each other. This can be a great starting point for the marketing to go viral and pick up a grassroots effort.
Social Media Marketing and Twitter

Twitter has picked up a lot of steam in the last year for being a great place for social media marketing. While Twitter has grown far beyond its microblogging roots, it is important to think of Twitter similar to a company blog. While the primary purpose is to get the word out, it is just as important to add a personal touch rather than relying on RSS feeds to deliver stale press releases or simply repeat the company blog.

In addition growing the amount of followers, Twitter can be particularly effective when interacting with customers and fans.
Social Media Marketing and YouTube

Some of the most effective social media marketing strategies center around YouTube and the viral video. While often more time-consuming and expensive, YouTube can easily become the centerpiece of a larger social media campaign.

Because of its social nature, YouTube can be a great way to interact with customers and get them involved with the marketing as well as the product. An excellent example of social media marketing on YouTube done well was Microsoft’s response to the “I’m a Mac” commercials.

Rather than face Apple head on through commercials, Microsoft engaged in a viral “I’m a PC” marketing campaign that centered around customers uploading their own “I’m a PC” video responses. This type of customer interaction is at the core of what social media marketng is all about and is the cornerstone for building an effective strategy.

The more you interact with the customer, the more brand loyalty you build.

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