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Tactic or Strategy…hmmm?

I’ve seen quite a few tweets, posts and discussion lately about the use of social media, viral marketing and the like.  Here is an excerpt from my book “42 Rules of Marketing” - what do you think?  What about Twitter, FaceBook, LinkedIn and other social media sites.  Agree?  Disagree?

Rule 23:  Viral Marketing is a Tactic In terms of demand generation – viral marketing is a fascinating topic.  There was an article in the Wall Street Journal  that talked about the changing face of marketing, and how the internet and viral elements have changed the nature of marketing forever.  The Journal is right.

Viral marketing is a relative to search engine marketing, blogs and email marketing.  It is really just an online version of good old-fashioned “word of mouth.”  The major difference, of course, is that it now takes seconds for an idea to spread versus days, weeks or months using the traditional “she tells two friends, and so on, and so on” method made famous by Breck shampoo commercials. The objective of viral marketing is to seed your idea or message with key influencers in an online community with the hope that they will have good things to say about your product, service, company, etc.  And you hope that they will spread the good news for you, like a virus.

A few years ago we were using the internet to push info to customers and were enabling customers to find information about our products/services by publishing our info on the web – we thought this was a huge change.  We didn’t have a clue what was coming. Today – customers are publishing their own information about our products/services. User-generated content, social networking and online communities have turned everything inside-out.  You are no longer in control of the messages.  You can start the ball rolling, but once it’s out there and customers begin to talk about you, it becomes a matter of influence not control. Targeting influencers who will (hopefully) comment positively on your product or service is an age-old strategy.  Blogs, email, chat rooms and online communities it faster, and allow it to grow bigger due to the reach of the internet.

The reason viral marketing works is based on human emotion.  The things that typically take off are either tragically sad or hilariously funny. During the holiday selling season in 2006, a cute little site called “Go Elf Yourself”  appeared.  You could “elf yourself” by uploading a photo (of yourself or an unsuspecting friend or colleague), recording a short message and showing off with a funny little elf dance. The site was the brainchild of Office Max and was created as part of a multi-phased viral campaign that ended in January 2007 with a full-page ad in the Wall Street Journal. Office Depot apologized for their little game causing such a significant drop in productivity and invited businesses everywhere to come to Office Depot and stock up on productivity items.  As far as results go, in mid-December 2006 the site was averaging 200 unique visitors per second; people were creating 8 new elves per second.  That’s a lot of elfs.

The elfs certainly didn’t change the world.  But the idea behind the it certainly could.

Sometimes technology does help

Social media has taken on a life of its own.  Without it, us marketers can’t really do our jobs it seems. I have clients who run LinkedIn and FaceBook campaigns and then Twitter about them to drive traffic. It is a time consuming and often cumbersome process.  Yes, it’s viral.  Yes, it drives traffic. And now, I can do this for multiple clients at one time and not feel schizophrenic.

I just found Ping.FM.  I usually don’t recommend platforms but I really like this one.  It lets you update all your social media sites from one platform.  You can push your tweets, updates and photos all at the same time.  I’m loving it.

Marketing is an “anti-recession” strategy

To be more precise, the Harvard Business Review stated that “The rationale that a company can afford a cutback in advertising because everybody else is cutting back [is fallacious].”  And history bears this out.  In past recessionary cycles (1970, 1974-75, 1981-82, 1990-91) research has shown that companies who continued to invest in marketing their companies products and services fared much better than those who didn’t.  Duh?!?!

We know that marketing works, that’s why we do it.  When you stop marketing, for whatever reason, it will stop working.  However it is really hard to keep shelling out cash on marketing programs, advertising and email campaigns when sales are slow and revenue is down.  But here’s the thing;  if you stop investing and “hold tight” until things blow over, customers will easily forget about you.  It doesn’t matter if you’re a large corporate selling to other large corporations, or if you’re a start-up selling to consumer online.  Out of sight means out of mind.

“Marketing” doesn’t have to cost a fortune.  The rise of social media, online communities and social networking, marketing online is one of the most cost effective vehicles around today.  Social media marketing is a specific tactic that is effective and inexpensive.  You need to check on all your target social media sites, post to blogs, comment, respond, twitter, friend and link like there’s no tomorrow.  Chrus Muccio, recently ran a promotional campaign via social media and his book “42 Rules to 24-Hour Success on LinkedIn” is now a Best Seller on Amazon.com.  Social media marketing works…for authors, small companies and large corporations.

The other upside to social media marketing in difficult times is that it is fun.  It’s great to meet new people who share your same interests - either personally or professionally.  It’s nice to be able to support other businesses;  to find others interested in what you do.  Plus, when things turn around your network is now that much bigger.

Now get out there and start tweeting, linking, friending…or whatever.

What do personal finance, the Muppets and Sirius have in common?

They are some of the most talked about stories in social media last week.  The top story was obviously the economy.  According to the Project for Excellence in Journalism, these were the hot topics in the blogosphere.

The takeaway here…you never know what’s going to catch on or when.  It’s all about hitting a nerve or riding a wave with something that is relevant but unexpected.