Friday, May 16, 2008

There is no denying social media has altered the rules and tactics of marketing and communication strategies worldwide. Katy Thorbahn, Senior Vice President and General Manager of the Philadelphia office of Avenue A Razorfish, believes that a “major shift is occurring - the rise of social media is creating a new form of marketing altogether, called Social Influence Marketing (SIM).”

In the May/June issue of AD NEWS, Thorbahn explains in her Think Social Influence Marketing article that it is about employing social media as part of the entire lifecycle of a marketing campaign, even beyond the campaign.

Here are some of Thorbahn’s “must know” details on social media development:

  • Social Influence Marketing is the third dimension of marketing: SIM requires new strategies, rules and tactics; and in the long run will harbor a stronger affect on purchasing behavior than direct response and brand marketing.
  • Advertising on your consumer’s terms: SIM is also about engaging with consumers on their terms – where they want to and in a language and format of their choosing. By doing so, it will allow companies to participate in the online conversations.
  • Social networks matter more than websites: Consumers are continuing to spend most of their time on social networks. Companies need to crate a strategic development plan to integrate a new website, product or marketing campaign with key social networks.
  • Engagement metrics come to the forefront: Much of the web’s success as a marketing platform is driven by its ability to capture strong metrics. New measurement models and corresponding tools will be needed to track whether Social Influence Marketing is having a stronger effect on the purchasing cycle than brand marketing or direct response.
  • SIM can broaden consumer influence: SIM is going to affect how organizations innovate, develop ideas, recruit, measure performance and interact with all their constituents (customers, employees, partners, shareholders, etc.) because only by changing the organizations from the inside out, will companies be authentic when talking to the outside world.

For more of Thorbahn’s “must know” details on social media development, go to her article, Think Social Influence Marketing.

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