21st
Illusions of Grandeur
Another day at work, totally not keen on powerplay, powerplay, powerplay…
Keen for a soda though.
I wrote the following in my paper for ‘Buyer Behaviour and Integrated Marketing Communications’.
For the benefit of my class instructor. Now I do wonder how much knowledge of Marketing/Web 2.0 are our academics tuned into. So here goes my simple attempt at brevity…
Comments at isman.tanuri @ gmail.com
Social Media & Web2.0: New Consumer Relations Strategy
Definition and explanation of Social Media
Social media encompasses a group of communication channels that has evolved from the emergence of the Web 2.0 evolution. This current power shift in communication and content control has transferred brand ownership from the traditional businesses and corporations into the domain of the user. Consumers now have influence over brand or product conversations and are more likely to transmit their opinions into their social circle, either online or in the real world. Trusts and thought acceptance are built over these social networks and knowledge transfer occurs fluidly and extensively.
Impact and implications on Businesses and Brand Owners
These conversations among consumers are changing the way commerce is conducted. Businesses and brand owners will have to start listening in and participating in these conversations in order to assess consumer sentiments and perceptions. Failing to do so will amount to a loss of competitive advantage as more businesses are beginning to adopt the social media approach to listen to their customers’ needs. Social media is in fact forcing many businesses to re-assess their consumer communication strategy and re-adopt marketing’s foremost mantra: what does the customer want and need?
Selection of Social Media Tools
Blogs
Forums
Micro-blogging
Social networks
Social news portals and aggregators
Wikis
Mobile internet