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Does social media works for sme article gregory bolle bpg maxus dubai


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Does social media works for sme article gregory bolle bpg maxus dubai

  1. 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 32
  2. 2. ❘ Social mediahave 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 tosolution namely, consistency particular purpose for your audience. estimate the effectiveness of yourand relationship. Thus, you may avoid pure business social media strategy. discussions on Facebook or shareIf 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, asof maintaining consistency in your Create measurable goals explained previously, you shoulddaily operations. A business needs Your social media goals should be not consider the social mediato 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 mediayour business to grow. Even when Sometimes, marketers believe that as a sales channel itself. While ityou decide to explore social media the digital world makes everything is proven to be effective, if usedmarketing opportunities, consistency lightning fast. But that is a myth as in the SMART framework, socialwill continue to be a critical factor far as social networking marketing networking marketing is even morefor success. is concerned, as you are trying to powerful. If SMEs or marketers build a sustainable relationship change their current mindset to startIn the same manner, networking, with your audience. The idea is to thinking that social media platformsmeetings and enhancing create a network, and then to grow are one of the most importantrelationships with clients and it progressively with relevant and strategic assets, they can develop aprospective clients are vital to interesting content for your audience. customer base, enrich conversationSMEs. They need to constantly with clients, get insights instantlyreinvent and enrich their relations Integrate online and offline and thus, essentially gain an edgewith their customers. Social media, Ideally, you need to convey your over your competition.then, becomes a great tool if conventional communication andyou commit to respect this new your new social media-style of To conclude, if as an owner of andigital form of interaction. In other communication. In other words, SME, you agree with the quote of thewords, social media marketing online and offline strategies must marketing guru Peter Drucker - therecognises the long-term value of be used in the most efficient purpose of business is to create andcustomer relationships and extends manner, based on the pre-selected keep a customer - then start usingcommunication beyond intrusive key performance indicators of your social networking marketing withoutadvertising and sales promotional communication campaign. anymore delay.messages. Ultimately, to develop aneffective social media strategy, you Measure ROI and ROEwill need to identify what BPG Maxus As explained previously, yourcalls a “Shared Ideal,” a balanced social media goals mustcombination of your business social be measurable. Two mainobjectives and your customers’ indicators to consider are thepassions or needs. Return on Insights (ROI) and Return on Engagement (ROE).My best advice will be to rely on ROI is less tangible than thecommon sense. If you commit ROE, as you will look at theto both consistency and building business perspectives of yourrelationships, then social media is SME based on the feedback,no more complicated than any and insights expressed byother medium. your audience. ROE is easier to measure as you will lookChoose your platformTalking about common sense, howwould 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 experiencedefined business objectives? Many in strategy and business development. In France, hesocial 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 withnetwork. 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 33