Social Networks: Fickle Fad or Potent Channel?

Social networking sites have experienced tremendous popularity and growth. They provide users with a sense of community, foster relationships and allow users to contribute content such as comments, reviews, feedback ratings and even dedicated pages.

Sounds nice. But what do they offer marketers?

In a word, opportunity. Social networking sites tend to attract specific communities of visitors whose demographic and psychographic characteristics closely match those of specific audiences. As a result, such sites provide marketers with the opportunity to engage with highly targeted communities of users. Marketers can participate on these sites in numerous ways, including placing a search, display or contextual ad; posting a comment; tagging a piece of content with a keyword; or posting a link to their site.

But is the opportunity worth pursuing?

You do the math. Research shows that 25% of adult internet users have visited social networking sites. And nearly 33% of adult internet users report purchasing decisions were influenced by sites containing social content.

Why are such sites influencing purchasing decisions?

Simple. It’s human nature. If you are considering purchasing something, aren’t you influenced by the opinions of people just like yourself? So when it comes to recommendations, people in social networks are more apt to trust the input of their fellow community members online.

Social networking sites have become an important online marketing channel. If you haven’t assessed their value yet, you should start. However, before diving in, realize that participation on these sites is not one size fits all.

My advice? Take it slow. Assess each opportunity for fit and value. Below are seven tips to keep in mind as you move forward.

• Choose wisely. Take the time to pick the right community to target. Ask yourself: Does it fit with my target audience? Does it fit with my marketing strategy? Does it fit with my business? Ultimately, you want to identify sites that possess a high level of influence, and find ways to connect with their communities.

• Be mindful. Remember, social networking sites really are communities—they just happen to be online. And is the case with any community, they have core elements that define them. Specifically, each community has its own culture, history, preferences, intent and degree of influence over its users.

• Look, listen and learn. Study a site’s culture. What are its users like? What are they interested in? What do they post about most often? What types of products and services would be appropriate for them? Are they closely aligned with your target audience?

• Rules matter. Social networking sites have their own codes of acceptable behavior for all who chose to participate, including marketers. However, such rules are largely unwritten. Before participating, study the way other marketers behave on the site, and how the user community responds to them. There’s a lot to be learned from others’ mistakes.

• Engage. To get the most out of your participation in social networks, you need to become involved, and you need to do it in a way that benefits the community as a whole. Ideally, you want to regularly contribute content that is meaningful to others in the community. Stay on top of what people are talking about on the site, and contribute ideas, regardless if they are related to your product or not.

• Be honest. From the start, disclose that you are a marketer. Such transparency will do much to help you become an accepted member of the community. Don’t make the mistake of trying to operate in stealth mode. It’ll only be a matter of time before you are found out, and your brand will suffer.

• Be prepared. Marketers have a lot to gain from social networks, including insight into how people feel about their brands and products. Marketers need to be prepared for feedback. Some will be good, some won’t. And when it’s negative, don’t react defensively. Instead, be appreciative for the feedback, and communicate what is being done to correct the issue. Doing so will go a long way in building trust and enhancing brand perception within the community.

Clearly, social networking sites are not just a fad. If you’re an online marketer, you need to assess their value to your organization. It could mean the difference between potential revenue…or lost opportunity.

Robert J. Murray is president of search engine marketing firm iProspect and can be reached at [email protected].