Walk Like a Giant, Sell Like a Madman

Chapter 12. Tapping the Power of Social Media Marketing

Although traditional media—newspapers, magazines, TV, and radio—are still effective advertising tools, new media are becoming very popular and effective. These new media go by the name social media, and in a way, are among the oldest forms of marketing, relying primarily on word-of-mouth public relations, marketing, and advertising. Just like in the good old days of local markets, what people say about you and your business has a significant effect on your sales. The only difference is that now, in addition to passing the word along in person or over the phone, consumers are exchanging information and opinions online—on Internet web sites and portals designed for networking and the sharing of user-generated content, including reviews and opinions of the products and services you offer.

With the assistance of a computer and an Internet connection, consumers can log onto the Internet at any time of day or night, and check out what their peers have to say on social media sites, like FaceBook, MySpace, LinkedIn, YouTube, and Second Life. They can instantly connect with one another using instant messaging programs. They can even vote on the content they like or dislike, rate businesses and products, and much more.

In a way, social media transform the consumer into the marketer and advertiser, and that consumer can generate either positive or negative press for you and your products and services, depending on how you present yourself ...