Social media has the power to exponentially increase your company and your product’s visibility. Once you have eyes on your products and offerings, things can go very well, or very badly in a stunningly short amount of time and the scary part is you don’t even need to have social media initiatives for this to happen.
Do you know what is being said about your products online? Are there positive things being said that should be identified and fueled to increase message circulation into a positive viral realm? Are there disastrous things being said (true or false) that you have to tackle instantly before they DO go viral and cause severe damage to your brand? These are just the unintended consequences of viral market dynamics.
A company doing business today in any form ignores the new marketing reality at its own peril. Even large historically stable companies are being hurt at lightning speed because they were not aware of the health of their brand at any given moment and underestimated the damage that could be inflicted and the speed in which it could happen. All you have to do is study Nestlé’s debacle with palm oil in 2010 or this year’s dust up over “pink slime” or advertisers that were slow to react to Rush Limbaugh’s comments about Sandra Fluke that alienated almost every woman in this country. The companies that not only survive but thrive in these situations are the ones that have strong social media initiatives and policies in place. Those that do not have these safeguards in place fail to react until it can be much too late and irreparable damage is done to a company’s reputation.
All you have to do is study the current situation with the Facebook IPO to learn how incredibly quick negative information that is not intercepted and addressed can take down a major corporation that seemed invulnerable and even had incredible upward momentum. The word Titanic comes to mind. A proper social media infrastructure including communication policies would have prevented this situation from even starting. An especially ironic position for a social networking company to have found itself in.
It’s not all bad news though; a strong viral marketing investment within a company can be the driver of the single most powerful revenue and customer generator in the history of global markets. Companies no longer have to depend on old fashioned and intrusive cold calling, outward push modalities. Why not understand and embrace tactics that actually DRAW customers to YOU! Done right, the only problem these modern marketing abilities will bring is being able to react to product demand that overnight can far outstrip a company’s abilities to deliver.
The new world of social media is the classic double edged sword which can cut for you or cut you down. In the next series of posts I will outline some techniques that should be adopted by current product marketing efforts in order to keep that sword swinging in your favor shredding your competitors and making them bleed market share.
The world of marketing has just taken a drastic turn in a completely new and EXCITING direction. Don’t let stale marketing inertia take you straight off the road and into the dirt and weeds. The marketing highway is now a zig-zagging high speed race track. Those with lightweight quick to accelerate and quick to brake super cars will come out of every bend faster than the competition and cumulatively will leave the slower less reactive competitors far behind.