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Posted by visionarymarketing under Innovation

In our previous article about social media, we have described the 8 reasons why managers love social media and we have also debunked a few commonplace myths. In this new instalment we’ll look at the flip side of corporate social media perception, the negative one, and we will also discuss the rationale behind each of these arguments.

• #1. All these online conversations could be dangerous, we’ll be losing control”: it’s true that social media is about employees, clients, partners and members of all kinds of eco systems talking to one another. There is often that perception that these conversations might lead to the disparagement of the brand. Such discussions are often perceived negatively by managers, as if they didn’t feel quite sure about how reliable or likable their brand actually is. Hence they fail to assess and nurture brand loyalty through these discussions, although such discussions are often led by volunteers and afficionados. Also, in essence, this is what a brand is all about. A brand is what your clients “say about you when you’re not in the room” (probably by Jeff Bezos but the source is unclear and many versions of that quotation exist). And such discussions, good or bad, are bound to happen anyway, for social media (aka web 2.0) has made free expression available to all Internet users. Use social media to harness all these discussions rather than pretending you can prevent them. There are more opportunities than risks associated with it when you think about it. As Intel’s Ken Kaplan once declared at a 2008 Blogwell conference in San Jose : “social media is not something to fear but to embrace”,

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Forrester Research predicts that interactive marketing spending will hit $25.6 billion this year — up 11% from $23.1 billion in 2008, despite being flat, as marketers shift money from traditional media to digital channels.

That total, which also includes search, email, social media and mobile marketing dollars, is expected to more than double to nearly $55 billion by 2014. “This growth is due to marketers seeking lower cost, more accountable channels which are also widely used by their customers,” wrote Forrester analyst Shar Van Boskirk, in a blog post previewing the firm’s interactive spending forecast due out in June.

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