How to harness the Power Of The Big 6 Social Media Platforms

As the marketing power of social media grows, it no longer makes sense to treat it by observing from the sidelines. In less than a decade, social media, in many ways, seems to have “taken over the world.” This statement is not exaggerated. As one of the largest social networking sites in the social media universe, Facebook boasted more than 750 million people actively using its service. After all, if Facebook users constituted a country, it would be the world’s third largest and will soon grow twice as large as the population of the United States. We know that both B2C and B2B businesses use social media as part of their marketing strategy. Companies certainly know what social media is and its ability to amplify word-of-mouth effects.
engagement

Yet the vast majority of executives have no idea how to harness social media’s power. Companies diligently establish Twitter feeds and branded Facebook pages, but few have a deep understanding of exactly how social media interacts with consumers to expand product and brand recognition, drive sales and profitability, and engender loyalty.

Twitter. Facebook. Instagram. Pinterest. Myspace. Google Plus. LinkedIn. YouTube. Vine. Foursquare. Tumblr. and much more. There are more than 400 unique social networking sites currently active across the globe, hosting trillions of conversations and billions of gigabytes of data. Over the past few years, small businesses have begun to harness the power of these networks to talk about their brand, engage customers, drive leads and even ramp up sales. But there are a few hard-and-fast rules that business owners should adhere to if they want to avoid going from social hero to hapless zero.

engagement
Social media is here to stay when it comes to marketing. Most businesses use it for brand exposure and increasing website traffic. Often overlooked is the power of social media for lead generation. Some businesses get it and others don’t.

What you need to know to make it work for you.

The key word describing the difference between Social Media and conventional communications is
engagement. The premise of Social Media is a dynamic, interactive conversation between you, and your customers. This interactivity is at the core of both the benefits and the risks of Social Media. There is no ‘one-size fits all’ solution to implementing a successful Social Media strategy. As such, this article focuses on providing executives with ideas, challenges, and guidelines on how to use Social Media to advance the mission of their organization. No matter what industry your business is in, social media can enhance your sales, marketing and public relations efforts.

    The 5 Levels of Social Media Engagement

  • OBSERVING
  • Level 1: Observing – watching the conversation from a far & simply “lurking” to decide if it’s interesting/valuable enough to join.

  • FOLLOWING
  • Level 2: Following – following the brand in some way, i.e. following on Twitter or Liking on Facebook.

  • ENDORCING
  • Level 4: Endorsing – actively sharing your content with others, i.e. retweeting, sharing via Facebook, etc.

  • ENGAGING
  • Level 3: Engaging – interacting in a limited fashion, such as clicking through to read your content, viewing a video, or Liking a wall post.

  • CONTRIBUTING
  • Level 5: Contributing – actively participating in the conversation and interacting with your brand, i.e. tweeting to your brand, posting on your Facebook wall, or commenting on a blog post.

engagementWhat social media engagement represents is a two-way dialogue between brands and customers. The primary rule of engagement is: If you want to increase engagement, be engaged. Like most people, social media users don’t care how much you know, until they know how much you care. Start by giving before you expect to receive.
The rapid evolution of digital, mobile and social technologies has propelled the financial industry into an era of transformative agility and adaptability.
Consumers expect highly personalized products and services, delivered in real time. Instant gratification means no more waiting in long lines, no more trudging through shopping malls, no more cash purchases. Even tangible goods are fading into services delivered thru social platforms.
Peter Drucker was right when he said, “The purpose of a business is to create and keep a customer”. This is the goal of every business: to create and keep customers. This principle survives Digital. Digital helps you keep this focus by giving you more ways to know your customer better.
Digital is second nature to Millennials and plays a significant part in their lives. They believe new technology makes life easier and brings people closer together. Millennials are mobile. They are hyper-connected and always on. Based on their love of all things Digital, Millennials are introducing a whole new value system to the marketplace.

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