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Social Media Strategy in 2010

01/18/2010

With the rapid decline in traditional media, Social Media is fast becoming the marketing medium of choice to reach consumers, as they become ever more deeply immersed and engaged online. Having a well researched social media strategy will be the foundation of a successful program.

According to a report by PRSA, PR industry leaders see authenticity, ROI and social media mastery as top three issues facing the profession. The reality of social media marketing is now very much sinking in with marketing and PR professionals. Businesses are now budgeting real dollars to engage in social marketing. If your organization is not involved you will forfeit business to your competitors.

This year marketers are shifting budget from traditional to interactive media, and for good reasons:

• Forrester Research surveyed marketing executives across multiple industries from firms with more than 200 employees to further explore the circumstances behind the move to interactive marketing.

• It is predicted that by 2014 interactive marketing will near $55 billion and represent 21% of all marketing spend.

A September 2009 MarketingProfs survey of business-to-business (B2B) and business-to-consumer (B2C) marketers found that the marketing tactics most often used on social sites are not necessarily the best ones. This highlights the need for expert research and strategy development by trained social media consultants.

In another report Social Network Ad Spending: 2010 Outlook eMarketer senior analyst Debra Aho Williamson stated that “In 2010 and beyond, a substantial portion of marketers’ expenses will go toward creating and maintaining a fan page, managing promotions or public relations outreach within a social network, and measuring the impact of a social network presence on brand health and sales.”

Based on today’s ever-changing marketplace, marketing and PR professionals must understand that they can no longer just issue information to the media in hopes that they share their clients’ stories with the public. Instead, we must also start telling our client’s stories directly to the public to spark consumer conversations and engage with targeted communities. But firstly start with a well researched social media strategy.

Author Bio

Doug Hay is the co-founder and CEO of Expansion Plus Inc, a leading Los Angeles-based Social Media and digital media consultancy. E+ was an early adopter of these new technologies while leveraging the principals’ multi decades of experience in marketing, public relations, sales and business development. Doug is a sought after speaker and has presented at local and national conferences. For more information about a social media strategy, visit www.expansionplus.com. Email: dough@expansionplus.com

Technorati Tags: Social media strategy, social network, public relations, B2B, B2C, social media marketing, interactive marketing