1. Industry insight ❘
Does social media S
ocial media is the new
marketing trend followed
by all companies in
today’s market.
work for an SME? After the digital revolution,
companies have invested further
to communicate and exchange
directly with their customers
Gregory Bolle helps demystify the using online technologies.
social media marketing Companies have different
business agendas, but, social
approach for SMEs. networking is rapidly becoming
the most preferred Web 2.0
marketing tool for most of them.
Today, you interact with two kinds
of marketers: the ones that argue
that social media platforms help
them explore new marketing
horizons with their customers
and, the others, that pretend that
it is a waste of time and energy
for an organisation. The truth
is that social media platforms
are new and are still reinventing
themselves constantly – which
makes it tricky to create concrete
business modeling process.
This article will endeavour to
demystify the social networking
marketing approach, providing
some practical tips and explaining
why social media works for SMEs.
Definition
To define social networking
marketing, let me start with a
simple but significant analogy.
One Dubai-based Iranian
commodity trader shared this
insight with me few months
ago. He said: “Chinese traders
are doing extremely well in the
UAE – all over the world – not
only because they have the best
to offer, but more importantly
because they have strong
commitment and respect for any
business relationship.” The art
of relationship in the Chinese
business culture is
called “Guanxi.”
It seems that these Chinese
traders are already well equipped
to develop proper social media
marketing strategies since they
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2. ❘ Social media
have understood the two basic pillars other tools are all great social media purely at the number of comments,
of any social networking marketing platforms, but all of them serve a followers, likes and retweets to
solution namely, consistency particular purpose for your audience. estimate the effectiveness of your
and relationship. Thus, you may avoid pure business social media strategy.
discussions on Facebook or share
If you are running an SME, you must private information on LinkedIn. Does social media work for SME?
be already aware of the importance The answer is yes. However, as
of maintaining consistency in your Create measurable goals explained previously, you should
daily operations. A business needs Your social media goals should be not consider the social media
to be consistent. Consistency is a specific, measurable, attainable, platform as a quick cash cow.
good marketing idea, as it helps realistic and time-sensitive (SMART). Often, companies see social media
your business to grow. Even when Sometimes, marketers believe that as a sales channel itself. While it
you decide to explore social media the digital world makes everything is proven to be effective, if used
marketing opportunities, consistency lightning fast. But that is a myth as in the SMART framework, social
will continue to be a critical factor far as social networking marketing networking marketing is even more
for success. is concerned, as you are trying to powerful. If SMEs or marketers
build a sustainable relationship change their current mindset to start
In the same manner, networking, with your audience. The idea is to thinking that social media platforms
meetings and enhancing create a network, and then to grow are one of the most important
relationships with clients and it progressively with relevant and strategic assets, they can develop a
prospective clients are vital to interesting content for your audience. customer base, enrich conversation
SMEs. They need to constantly with clients, get insights instantly
reinvent and enrich their relations Integrate online and offline and thus, essentially gain an edge
with their customers. Social media, Ideally, you need to convey your over your competition.
then, becomes a great tool if conventional communication and
you commit to respect this new your new social media-style of To conclude, if as an owner of an
digital form of interaction. In other communication. In other words, SME, you agree with the quote of the
words, social media marketing online and offline strategies must marketing guru Peter Drucker - the
recognises the long-term value of be used in the most efficient purpose of business is to create and
customer relationships and extends manner, based on the pre-selected keep a customer - then start using
communication beyond intrusive key performance indicators of your social networking marketing without
advertising and sales promotional communication campaign. anymore delay.
messages. Ultimately, to develop an
effective social media strategy, you Measure ROI and ROE
will need to identify what BPG Maxus As explained previously, your
calls a “Shared Ideal,” a balanced social media goals must
combination of your business social be measurable. Two main
objectives and your customers’ indicators to consider are the
passions or needs. Return on Insights (ROI) and
Return on Engagement (ROE).
My best advice will be to rely on ROI is less tangible than the
common sense. If you commit ROE, as you will look at the
to both consistency and building business perspectives of your
relationships, then social media is SME based on the feedback,
no more complicated than any and insights expressed by
other medium. your audience. ROE is easier
to measure as you will look
Choose your platform
Talking about common sense, how
would you choose the best social Gregory Bolle joins BPG Maxus as Vice President - Strategy,
media platform based on your pre- bringing with him several years of multi-industry experience
defined business objectives? Many in strategy and business development. In France, he
social media experts are promoting founded the online B2B publication Sport Strategies and
then became the managing director of Carat Sponsorship.
Facebook as the ultimate social
Prior to BPG Maxus, he worked as a business advisor with
network. You need first to find out on
Wunderman and the management firm Value Partners LLC.
which platform your message will be He has studied management at the University of Paris XI -
the best valued. Facebook, YouTube, Orsay and the Tanaka - Imperial College of London.
Twitter, LinkedIn, among many
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