Social Media: Old is New again

September 16, 2011
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The increased accessibility to information afforded by the internet has brought with it several business practices that are not really new, but were never as prevalent now as they were before the advent of the internet. This is most evident with business using social media sites such as Facebook and Twitter in their online marketing initiatives. Here are a few of the more popular online business practices that were already in existence prior to the internet, but were never as prevalently done:

Reputation Management

Back in the day, businesses were quite content with mainstream PR to help them maintain a good image in the market and ensure that they have a sterling reputation. This practice, however, was mostly prominent whenever the company was in the middle of launching a new brand, service, or product, or whenever they were in the middle of an unsavory incident that threatened to sully their corporate image. Online reputation now is something readily seen in social media initiatives of many company, especially those with a Facebook account.

Customer Feedback

Not everyone enjoys dialing customer service and having to tolerate customer service representative who barely know how to speak English. This is why social media has also become another media for customers to air their ideas or complaints about a particular brand or service. This is, however, quite important to get on top of, because of the nature of social media, which is real time and is readily seen by many, if not all, of the target market. This means if an issue raised by a customer is not addressed promptly and properly, many others will see it, and draw their own judgment about the company.

Branding

In corporate marketing, any space where people’s attention can stray to, is a potential marketplace, and thus essential venue for marketing their brand. The nature of the internet, being what it is and how vast its scope, makes it an indispensable area for making your brand known to as many people as possible. Before the internet, it was billboards, tv spots, radio ads, and print ads. Social media has combined all of these and made the experience even more richer and more effective in brand recall.

Educational Avenue

Being ahead of the curve is immensely important in keeping your business afloat in the market, with those not being able to cope left behind and buried in the competition. Knowing as much as you can in the most efficient manner is key to being competitive, and nowhere else is this done better than in the social media circles, where competitive market analysis, customer feedback, and branding all come together.

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