We are in a revolutionary period of skepticism as the marketing potential of online social media is now becoming a little clearer. Hopefully this post will enlighten you on the impact a social media strategy can have on your company’s marketing strategy.

A more functional popularity contest
Social media sites were the most popular online activity, surpassing e-mail and search engines in 2009. In fact, there are more exchanges of information on Facebook than any other platform on the Internet.

Today, social media harnesses the theory of “never do anything alone,” by offering users a community of opinions, advice, information, reviews and the answers to questions we have always wanted to ask.  This wealth of information is not only accessible by companies, but also easy to infiltrate (using the right strategies from Q, of course).

Social media can no longer be looked at as a popularity contest, there are conversations occurring everyday that companies must become involved in.

Don’t just stand there, do something
This revolution of a new mass medium is well within the reach of businesses small and large. The ability to connect with consumers has never been easier or more measurable. Not only can you connect with former customers (retention) and their friends (acquisition), but you can see what they are saying about you (customer feedback) and your competitors (competitive analysis) all on a site maintained by your company!

No need to dig up your business model and switch your marketing ideas, some of your old fashioned techniques still come in handy, but instead of sending an old client a fruit basket, write a note on their wall. Instead of congratulating them on a feature article in the paper, @them on Twitter and post a link to the story. As a company, you are still relevant to your consumer, but you have to be able to effectively reach them on their medium of choice.

Yes, I’m listeni… ooooh shiny!
You’ll be lucky to get an average American to sit through a minute-long advertising spot, yet users spend hours a day interacting with fellow customers, employees and affiliates discussing companies, products and services. This level of engagement is something that has never been possible with traditional media.

Traffic on company social media pages can often times rival that of commercial Web sites that charge for advertising. Not only are you saving money on your banner ads, but your consumers (who have learned the positioning of your leaderboards and buttons) will appreciate a more in-depth perspective of your company.

Bottom line
Personal connections with consumers has never been more attainable through a mass medium, and if you want to get a real pulse of what people are saying, you have to get in the mix!