Small is the New Big: How Social Media is Changing the Marketing Game
October 10, 2010
Being perceived as small means you are more people-friendly, you can adapt to the needs of specific customers, and you listen better.
Today, a prospective client said to me, “Don’t take this the wrong way, but I like you because you’re a small company.” It’s funny how he thought that might be taken as an insult. I think it’s great when people recognize the benefits of working closely with an individual.
When the web was new, I always told clients that the great thing about the internet was the ability to “level the playing field” because as a small business, you could look as impressive as the largest retailer in the nation and, therefore, receive the same perceived trust and credibility. Who wouldn’t want to be as impressive as the big boys?
Now that the web has matured, some of the big guys are realizing that it’s not bad to be small. And the many entrepreneurial ventures that got their start on the internet are now proud of their smallness.
Being perceived as small means you are more people-friendly, you can adapt to the needs of specific customers, and you listen better. And with the rise of Facebook, Twitter, LinkedIn, and other social media sites, it’s easier than ever to reach each customer on their own terms.
This is the age of micro-marketing.
If you want people to know that you are trustworthy, you have to show them who you really are. Enter social media. With micro-marketing, it’s not about the mass media marketing of radio, television, or newspapers – it’s about the grassroots, get-on-your-level marketing that social media provides. Instead of thousands spent on ads that may or may not reach your audience, now it’s a matter of spending time and targeting exactly who will see the ad.
With the micro-marketing ability of social media, small is the new big. Companies that have been perceived as large, cold, and unresponsive can now change that perception by using social tools to get in touch with their customers on the front line.
For example, Bank of America made multiple errors reporting payments, among other mistakes, for a banking customer. The customer was unable to get results through the typical banking channels. But once the customer tweeted about the issue on Twitter, a response was tweeted back from BOA within an hour. And within a couple of days, all the issues had been resolved, and the credit reporting was corrected. Instead of being the “big bad bank that doesn’t care,” BOA instantly became the friendly social bank that listens and solves problems.
The best thing about the new age of marketing is that ANYONE can influence their company image and reputation by simply using social media to become “one with them.”
Using paid ads on social networks also outperforms search engine ads when positioned with the correct audience. Using ads on Facebook, LinkedIn & Twitter can build the company brand and introduce the company to its target audience.
For example, a rubber stamp company also carries a line of markers and stamps that are great for teachers but didn’t know how to reach the teachers. So, they used social media to gain access to their target audience by running a free giveaway contest on Facebook.
In addition to increasing their “fan” base, they gained over 700 teachers for their email marketing list. And a very grateful teacher will be telling everyone who gave her the supplies – probably using social media in addition to word of mouth.
The companies that spend time building a brand now when the economy is bad will reap the benefits when the country has recovered from the recession because of the “top of mind” phenomenon.
People, when asked to remember ten top brand names for any particular item, will only be able to name 3 or 4. If you are in that small group, it’s all due to good branding whether that’s great interactions with a business on a personal level or hearing about your company from another trusted source. Being small, and having the ability to seem like the guy (or girl) next door causes people to remember you and think of you first when the need (finally) arises.
So, as it turns out, bigger is not necessarily better.
Small is the new big. And word of mouth (socializing) is the biggest trend in marketing. Go ahead and grow your business, but keep your marketing focused on the people you serve, reach out to them directly through social media.
For more information about the examples cited (yes, they really happened) and how to use social marketing to your advantage, contact me.
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