Is Social Media a Hype?

Two weeks back a relative of mine was in town and called me over phone. He asked me how my recent Brasil trip was. I answered and asked him about the “mini-marathon” preparations of his(he was in town for participating in the mini-marathon). The interesting thing is that we have not been in touch through traditional means(email, phone, common friends,relatives) and have not spoken to each other (not even through chat) or to anyone in common for a long time. But we were so updated about each other and could pick up a conversation as detailed above, thanks to Social Media tools.

Imagine this for a business or a brand. If a brand can update its customers making them so informed and also can get to know customer feedbacks to-this-minute, or mentions-about-it by anyone, anywhere, the same way, how well the brand could use it as its competitive edge. The feedback system will help the brand fine tune and grow. All these can be achieved through Social Media.

Social Media is not a hype. Recent reports suggest that Social Media site visits is ahead of personal email as online activity and it is growing very fast. Social media visits as numbers are contending with most populated countries in the world. It is not just a hype.

There is a fundamental shift in how people keep in touch with others and what they do through online media. This shift has far reaching implications for Businesses and Brands. It is important to understand the nature of the change. Almost for every business, be it manufacturers, retailers,marketing agencies or service sectors, there are new opportunities. And new business models are needed to cater to the new opportunities. It is wise to go where customers are present and where customers are in a mood to talk and ready to engage and participate. It is good to talk to customers and listen to them, in their preferred way. Hence, presence in Social Media has become a business necessity and a pre-requisite to engage and cater to online customers. Sitting on the sidelines waiting and watching the changes could cost dearly.

In Social Media, a mere presence will not guarantee success. So Organizations have to understand the nature of the media and align their goals and objectives with a Social Media Strategy. Organizations have to build the capabilities that will allow them to tap the opportunities and also meet the challenges of Social Media to succeed.

More about Social Media Strategy and Best Practices in the coming days…keep visiting here.

Originally posted on http://blog.varadh.com
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