While browsing the web recently for news and how I could translate stories I read into blog topics, I found an article titled Social Media Marketing: Get Out Now, You’re Doomed to Fail. I was surprised to read this, because in my experience, many companies have had success with social media marketing; plus, it’s virtually free. Since the headline captured my attention, I went on to read the article. To my surprise, it wasn’t really about getting out of social media marketing, it was about how to be successful at it. Perfect!
Still, though social media is a popular marketing tool for small businesses, it can also be a minefield of potentially costly and critical mistakes. There are several key ways in which small businesses are continuing to miss opportunities to maximize their social media marketing potential.
To be most effective in social media, it is helpful to think of its components as forming a cube, with social and media as two of the sides. The additional sides of this cube are object and timing. In modern society, we choose to have our objects define us. In other words, objects such as cars, houses, iPads, etc. define who we are as much as our actions do. “We buy watches not just to tell time, but to have a good time. We buy sunglasses not just to see better, but to be seen.” explains Debra Kaye an award winning innovation expert.
I’ve watched with a bit of dismay as marketers have tried to figure out the social media environment, working to get consumers to buy products and services purely based on electronic communication. The opportunity is huge, especially given the worldwide potential for the company that gets it right, but it also offers the possibility of failing splendidly, as witnessed by the recent Groupon missteps. It seems that there are new players coming on the “daily deals” market every day, but there is one launching on May 15 in Iowa that has caught my attention – FreebeeCards.