We all know how Social Media is impacting our lives. It helps us stay connected, or overly connected… in more ways than one. The precise definition depends on anyone’s vantage point. It’s an extension of ourselves in the digital space, whether we’re decent, stalking, or blatantly abuse it to blast out irrelevant rants every nano second. Oh, and did also I mention that regardless of how much or little we use Social Media, we’re leaving our digital footprints THAT WILL NEVER DISAPPEAR!! They’ll stay stashed away in some data center somewhere around the world.
It’s a democratic tool that’s available to anyone with a cellphone. But enough said, how does Social Media impact businesses, or particularly how does it impact Brands?
Social Media is the flavor of the month (well make it flavor of the past 5 years), since Old Spice burst onto the Social Media scene and become a YouTube overnight sensation. Old Spice’s digital-only campaign went viral very quickly and helped propel the brand and make it relevant again. And although I’m sure we’ve all long forgotten about this campaign, as it feels like eons ago, might I remind you that it was only 2 years ago, in 2011!
A warped sense of time is the other effect of Social Media and digital campaigns. Operating in a different realm, everything is instant, and super fast. The very nature of Social Media. All controlled by the audience, by consumers like you and me. How many YouTube sensational videos have we heard about? Turning average people into celebrities, for a taste of their 15-minute of fame.
Which leads us back to Social Media and Brand-building. Every business wants to do it, thinking that jumping onto the digital band wagon promises another ammunition of media channel to promote and build their brand. Only to discover that it’s less efficient, or the opposite… it backfires and damages the brand’s reputation.
The key really is in gauging the success of digital campaigns, and measuring it. There are many analytical tools out there, and Creative Digital Agencies who’d create sexy-looking digital campaigns in one camp. And Social Media Monitoring agencies in the other. But how does a Brand owner make sense of all this, and ensure that Social Media can help build a Brand, and align Brand Strategy with Business Strategy? Resulting in a better brand reputation that trickles down to the bottom line?
I stumbled upon brand24, a New York-based Social Media Monitoring and Analytics Firm that explains how it’s done in plain language. And breaks it down into 5 simple benefits that Social Media Monitoring brings. In a nutshell, it’s a tool that makes it possible to see what is being said about your brand or a product.
- Interact with customers.
- Manage your brand reputation online.
- Gather valuable consumer insights.
- Measure the impact of marketing.
- Improve sales.
Because, quite simply, in business – as in life – you can only measure the value if it has a meaning for you. Without meaning, there’s no value.