Is Online Social Media Necessary for Brand Success?

The recent posting on professor Anthony Miyazaki's “E-Marketing for Sensible Folks” blog posed the following questions: ”Is online social media crucial? Or is it just another way to spend money unnecessarily?

According to wikipedia online social media is a term used to describe the type of media that is based on conversation and interaction between people online. Where media means digital words, sounds & pictures which are typically shared via the internet and the value can be cultural, societal or even financial. Online social media is very important nowadays for brands, because more and more people are online. I believe that social media is the future of businesses and should not be taken lightly. Emerging companies need to set themselves apart with a unique perspective of their product and brand name.

Online brand development and social networking appear to be easy, on the surface, but it is not a simple process. It is crucial that your company's conversation connects with your customers' conversation. If a company wants to succeed in the online social media it needs a solid foundation of their brand and a well defined strategy. I think that the online social media will not help a weak brand succeed. If anything social media will accelerate the brand's failure.

Social media activities should play a supporting role in many of the activities of the corporation including marketing, corporate communications, customer support and forming strong business networks. Creativity is also very important in the social media arena. Creative solutions are necessary to enhance the company's reputation and ability to serve clients better.

A negative effect of the social media is the necessity of constant upkeep of the site. Someone needs to be dedicated to maintaining and keeping everyone informed on the social network. The other issue of social networking is that not all businesses are created equal. Some markets rely heavily on demographics. For example a restaurant in the middle of an industrial area will peak its sales between 10 am and 1 pm without ever needing to market itself on a social network.