DIY Marketing

SUBJECT: [DIY Marketing] We’ve Ignored Social Media Until Now…You Can’t Ignore It Any Longer

You’ve likely heard enough about social media
in the last year to fill a barn. In fact, I’ve saved it for the
end of this series because it’s useless without having an overall
strategy for your marketing endeavors in place first. However,
we’re not going to cover the bits of blogging or the details of
Digg and Delicious here. Rather, let’s talk about a framework
that will help you decide what to do with social media.

Oh, and if you just signed up, you can see the course info we’ve
already covered right here:

http://www.diymarketingmonth.com/e-course-email-recap/

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“We now have indisputable proof that online marketing, YouTube
and Twitter and all that it encompasses is meaningful and has
arrived,” said Gene Grabowski, chair of the crisis and litigation
practice at Levick Strategic Communications. “We are seeing real
consequences to a mistake. If [social networks] didn’t matter,
you wouldn’t see this type of reaction from J&J or consumers.”

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In countless discussions about social media, digital marketing tools
and “what’s next,” I’ve determined that it’s critical for all
marketers to put a framework around their decisions on what tools
to use, when to use them and how to get started.  I put these
decisions into a general “3-R” framework.

** Risk: What’s your tolerance?

Whether you’re catapulting your brand into the social media sphere
by simultaneously starting a blog, moderating a customer community
and twittering, or if you’re simply monitoring social media to
get a glimpse of how the world sees you, there’s a certain modicum
of risk involved. You need to determine how much risk you’re willing
to take.

Social-media risk can manifest in the following ways:

> Exposure to issues that you’d rather not confront in a Web-based
public forum.

> Suppliers and competitors watching your every move and your every
flaw.

> Legal ramifications of customers commenting on bugs, defects,
recalls, etc.

> Sharing control of your finely crafted brand message with passionate,
yet misguided, fans.

Organizations that are ethical, honest, have strong brands and a
strong sense of self will prevail and enjoy a low-risk environment
in their social media endeavors.  However, if your organization is
secretive, insecure and does things you wouldn’t tell your mother
about, then you’ll likely find there’s simply too much risk for you
in social media.

** Resources: Do you have them?

This is probably the number one question I hear: “What does it take
to do this stuff (blogging, social media, podcasts, etc.)?”  For
most companies, the cost of technical resources is the least of their
worries.  In fact, a majority of marketers who deploy social-media
campaigns find it’s the least expensive part of their budget.  It’s
much more important to have the right people in place to help with
your social media efforts.  Whether that’s a knowledgeable person
in-house or a paid consultant, human resources are the most important
aspect of putting social media to work in your organization.

** Rewards: What do you expect?

Let’s be serious. The main reason we’re in marketing is to pursue
capitalistic rewards.  If we really want to pursue social media as
part of our marketing – with low risk and few resources – we can
certainly have at it.  In the final analysis, however, we need to
show substantial rewards in order to make it worth our while.

The ROI of social media depends on your overall goals.  Most
marketers define social-media rewards in the following ways:

> An increase in Website page views from social media sources.

> A larger network of customers and fans on social networking sites.

> Growth in your prospect email database.

> Increased conversation about your company on the Internet.

When considering social media as a component of your marketing mix,
remember the three R’s: risks, resources and rewards.
By vetting your plans against these criteria and asking the right
questions, you’ll be on the path to social-media success.

*****     ACTION SUMMARY  *****

1. Take the social media tools that you’re currently using and
those that you’ve considered using and apply this 3-R framework
to them. How to they shake out?

Well, that’s all for now.  Be on the lookout for next lesson
tomorrow.

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If you would like to learn more about MarketingSavant’s marketing
strategy, thought leadership or social media services, where you
work directly with me to build your business through strategic
marketing, go to:

http://www.marketingsavant.com/diymarketing

I’ve created a special set of offerings just for DIY Marketing
e-course members.

And, as always… think big and market well!

Yours truly,

Dana VanDen Heuvel

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MarketingSavant(TM)
Leading Through Thought
Social Media // Thought Leadership Marketing
www.marketingsavant.com
dana@marketingsavant.com
Twitter: danavan
888-989-7771
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