What is social marketing and how can it help your business? Social marketing can best be described as a method of viral marketing which includes: blogging, social web space design, podcasting, vodcasting (podcasts, but with video), and video clip distribution.

Social marketing is relatively new but provides the perfect venue for business to market their products and increase their brand awareness. Currently, few major companies are experimenting with social marketing. It is an unknown method but has unproven results. Still, social marketing has been getting more publicity and seems to be taking on steam.

One aspect of social marketing – named social networking – has quickly grown throughout the internet population, inspiring unprecedented growth.
Companies like MySpace (230% growth), MSN Spaces (205% growth), and Facebook (102% growth) have attained these goals in one year’s time. They are not alone. Other companies have been coming on board with similar results and the trend does not seem to be slowing down.

Due to this growth amongst internet users, businesses have taken notice as a way to reach out to their customers, increase their linking strategies and drive people to their web sites. The aspect of this is very appealing. The advertising is practically free. Most social networking sites do not charge anything to post information and you can target the specific audience you wish to reach by signing up with the groups that have a naturally existing interest in your product. The rest of this – as they say – is “history in the making.” The information is spread virally, through keystrokes. If your information is informative, topical, or amusing, it is spread – along with a link to your web site – by people. This is a 21st century form of word-of-mouth that builds trust and credibility for your product or service.

For years, customer input has been a driving force in internet purchases. Companies like ePinion, cNet, Amazon, and eBay have all created enormous businesses based around the ability for a person to see what others feel about a product. Reviews and comments can “make or break” a customer’s willingness to shop with you. Be forewarned, that it also adds scrutiny to your business practices and unhappy customers could also destroy your business as easily as build it.

One concern of businesses today is the return on investment (R.O.I.) of using social marketing. Although it is easy to see how a linking strategy can be obtained, can social connections from your networking be turned into dollars? It is a risky proposition, but one that is foreseen to be the next step in internet marketing. Immediate dollars are unlikely, but diligence is the key to any successful marketing plan.

When one decides to start a social marketing campaign, it is important to remember that acting like a marketer will not help you gain a foothold in the network. Members in such social environments are wary of the commercialization of their network. It is important, then for the business to reach the consumer with content of interest, contests, coupons, and a voice to comment on their products or services. Joining groups with interests in what you want to promote can provide excellent venues for your forum. Just do not push too hard for the sale. There is a fine line in this venue and you must relate with your audience.

If you decide to start a Social Marketing campaign, evaluate the benefits:

•A free method of advertising your product or service.

•Broadcasting to a wide audience.

•Identifying with customers that have interest in your product category and tell you right on their own pages.

•Joining online communities that have similar interests to your product category.

•Spreading your web site link to many locations.

•Offering a different perspective to traditional advertising.

•Entertaining and associating with your customer.

•Understanding your customers concerns and praise of your products through comments and reviews and being able to react in real-time.

Social marketing is an emerging force. Will it last or be another internet fad? It is hard to determine at this time, but the chances in favor that this medium is here for the long term.