Social Media And How You Market

There has been a LOT of buzz about Social Media and the influence that it has on people. Social media can include but not be limited to blogs, forums/message boards, podcasting sites, vlogs, and other online communities like Facebook, Second Life, YouTube and Myspace. These online tools allow users to share ideas, opinions, and thoughts with individuals that are typically in the same demographic. This type of online interaction has introduced a new format in which information is disseminated.

Everyone has been trying to figure out how to tap into this social media and better market their business. Even Kraft Foods is getting into the game by dedicating a portion of their marketing dollars to advertising within Second Life. This new outlet for information is why Viral Marketing has had so much industry attention lately.

However, a survey released by Jupiter Research indicates that social media sites are not big contributors to overall sales. Online shoppers prefer information as opposed to entertainment and will gravitate to sites that are seen as an authority. This is why I think that 3rd party information sites, like Consumer Reports, are still extremely valuable. The one thing that the report DID say was that 29% of online shoppers felt that they made better buying decisions after having been on a "social" type website. This is still not enough to persuade me to jump on the social media bandwagon just yet. Granted I am one that will read every review I can find about a product before making a decision on a purchase, but most of these reviews are not on social media sites.

So when you are thinking about trying to tap into the new social media as a way of increasing sales, maybe you should fall back, regroup and find a way to make yourself the authority. Authority and satisfaction are ultimately what equals conversions.


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