As usual, marketers are turning hype into hyperventilation. This time, it’ s about the supposed end of marketing as we know it, thanks to the rise of social media and the shift of power to consumers. But it’ s wrong to think we’ re entering a world in which traditional marketing activities, and brands themselves, will become irrelevant. In fact, the opposite is true. Social media make it more urgent than ever that companies get the basics right, developing and reliably delivering on a compelling brand promise.
It has always been risky for companies to disappoint customers, at least over the long term. But today the scale and speed of social media can make falling short instantly painful. Consider the internet-fueled backlash against Kryptonite’ s expensive but easily picked lock and Dell’ s flammable laptops. By the same token, companies that consistently deliver what they promise benefit mightily when social media amplify their reputation. The obvious danger is failing to keep pace with social media developments. But an equal, less obvious danger is getting distracted by them and losing sight of the fundamentals.
We’ ve long worked on marketing strategy with companies across industries; over the past 15 years we’ ve focused on new media, and recently on social media marketing. And we’ ve been directly involved in successful new-media start-ups, including one specializing in customer advisory panels and online brand communities. Our conclusion? The companies that will succeed in this environment are exploiting the many opportunities presented by social media while keeping an unwavering eye on their brand promise, and they are judiciously revising the marketing playbook rather than trying to rewrite it.
Intelligent Social Media Marketing www. kacharagadla. in