The social media is extremely
drastic change over traditional media as it signifies a paradigm shift,
traditional marketing dabbled with one-to-many approach where the brand house created
a messages which was transmitted across audiences. This built one-way communication
with less focus on word-of-mouth publicity.
Research shows that word of mouth is the most powerful method for longer
customer retention. Social media encompassing two-way communication helps to
build just that. It is not a traditional sales medium but a relationship
building platform. It focuses on engagement and not just on eyeballs. One
change which has germinated from a shift in consumer behavior is that consumers
don’t believe in brands anymore, and this might be one of the factors owing to
which the one-way messages mightn’t yield the expected results.
Social media also helps in
ideation via crowdsourcing and responding to the customer more accurately and
quickly by being closer to them. Social media is inbound, while traditional
media is outbound, this nature also gives ready-to-be-tracked matrices which
are measurable in nature. This is also coupled by the fact that the marketers
can spot trends early on using analytics and can take immediate steps to
realign campaigns. All is not rosy in the field of social media, one of the
sore factors is rapid dissemination of the impact created by the campaigns
while the promotions via traditional media carry higher tangibility. For any
firm, relevance is paramount and a proper social profile can help bump the relevance
ratings on Google and Bing, but this closeness comes with a caveat as people
can create and share content which might prove detrimental and the marketers
have no control over it.
In conclusion I would like state
that one can’t avoid the social media channel any longer as it has become the
need of the hour, but one needs to enter into the space with a clear conscience
and a willingness to collaborate and co-create to utilize it as a two-way reciprocal
platform
~Submitted By
Vivaswan Pathak (PGP-14-155)