What Have We Learned?

A company builds an integrated marketing strategy by implementing ingredients of a marketing mix.  Weeks ago, I briefly touched on elements of a marketing mix including promotion, public relations, price and place. Companies are learning how to improve the flow of information across multiple outlets in order to increase revenue opportunities and reinforce consumer loyalty.  Throughout the past 6 weeks, I have focused on how companies reach out to their consumers by taking the time to understand how, where and why people consumer various types of media.  Interestingly, when marketers rely solely on social media outlets, brand identity can be lost in translation.  Social media, as mentioned by Greenberg (2009), “works best when integrated with campaigns and platforms, not isolated as a stand-alone execution (p.38).  Unfortunately, many companies are distracted by the immediacy of social media networks and refuse to relate to their consumers through other forms of communication.  However, there are a wide range of companies that choose to encourage the public to invest time and interest into their Facebook, Twitter or YouTube pages.  Consumers want to feel reciprocation, not simply information tossed in their direction about new initiatives.  There has to be some form of strategic plan- a purpose to using social media.  In week 3 I mentioned that the importance of setting up an area either on the main website for a blog or utilizing a Facebook page would be a strong component of an effective marketing strategy.  Ideally, this would allow consumers to give their opinions and react to current events in an open online environment..  However, it is important to remember that building a relationship between consumers and producers requires dedication and an identifiable purpose in order to ensure brand credibility.   If brands reevaluate their strategies and consider ideas derived in value, then their promotional efforts may have a stronger impact on their consumers and the public (Greenberg, 2009).

I recently found an article chronicling the impact of the social media craze, Social Media- It’s Time to Join the Buzz.  Info based on the two recent surveys discussed in article talks about how social media networks have changed the consumer experience.  It described a link between connecting with a brand online and purchasing.

Some facts from the survey include:

• 40 percent of respondents have "friended" a brand on Facebook or Twitter

• 77 percent frequently view YouTube commercials or video ads

• 73 percent have posted a product or brand review on sites like Amazon, Yelp, Facebook or Twitter

• 70 percent have participated in brand-sponsored contests or sweepstakes

Greenberg, B. (2009). A Platform for Life. Mediaweek, 19(32), 38.

Marks, S. (2010). SOCIAL MEDIA -- IT'S TIME TO JOIN THE BUZZ. National Jeweler, 104(1), 26.