News
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4 Steps in Social Media for Businesses
If you were wondering where does Social Media
Marketing fit into the classic “4 P’s of Marketing”
model, check this out. Mario Sundar has figured out
the 4 P’s of traditional marketing. Got your
interest “Peaked”?
If you’re a company wondering whether you should
engage with your users through social media or
social networking, here are the first four steps one
should follow (marketers, listen up), all of which
culminates in the 5th P of Marketing -
Participation.
The Traditional 4 P’s of Marketing encompass
Product, Price, Place and Promotion. Social Media as
well as social networking sites enable the Promotion
aspect, especially the Word-of-Mouth part of it.
Subsequently, the Word-of-Mouth component enables
the 5th P of Marketing - Participation.
Here are the first four steps in social media
adoption for marketers and businesses or as I call
it, the Social Media LAMP theory:
1. L - Listen
Where are your customers online/offline?:
Blogs, Social media tools (e.g. LinkedIn’s Answers),
Discussion Forums, Twitter, etc…/Events
Monitor these conversations:
Use a central tool to track the different
conversations happening around your company. Most
online conversations are RSS enabled, barring a few
Yahoo! groups that don’t support RSS. Use a RSS
reader (e.g. Google Reader) to gather all these
conversations into a central repository and create a
folder that you check on a daily basis.
2. A - Awareness
Calculate Brand perception within these
conversations
- News & Blogs (Google search, Google Blog search,
technorati search)
- Keyword mentions & incoming links
- Corporate Blog (Unique users, hits, trackbacks,
comments)
- Brand Scoring system (similar to brand attitude
survey)
(Source: Clickz article)
3. M - Measure
Any social media presence of your brand can be
calculated by simple methods (example below):
ROI of corporate blogging (Resource: Charlene Li’s
new ROI of corporate blogging study)
4. P - Participate
Create a strategy around how you wish to participate
You have the following options:
- Be where the users are
- Facilitate easier means of communication with them
- Create brand evangelists
- Be a source of information on the company
- Respond swiftly and honestly
- Start publishing content
- Stir internal company conversations
- Improve product and user experience
---Source:
Mario Sundar is a blogger for MarketingProfs: Daily
Fix (www.mpdailyfix.com).
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Melissa Data
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