Company spending on social media marketing has increased exponentially year-on-year. Nearly 59% of respondents to an Advertiser Perceptions survey said that they planned on increasing social media spending in the next 12 months.
This isn’t surprising. With such a huge potential audience on sites like Facebook and Twitter offering direct, targeted advertising, it’s a dream come true for most marketing departments, who can use tools to seek out almost any demographic they wish. With a wide market and the way that social networking operates, sharing stories, deals and links to get traffic through a website becomes increasingly easier and more varied.
There are drawbacks, however. The aforementioned audience offered by social media marketing can become unwieldy and risk assessment plays a large part in managing any successful online campaign.
Early in August, Altimeter released a report titled ‘Guarding the Social Gates: The Imperative for Social Media Risk Management’. This outlined research done by the group into corporate perceptions of the risk associated with different social media sites.
For example, Facebook was considered the riskiest social network to use with 35% of respondents marking it as a ‘significant’ level of risk. Twitter was second with 25%, followed by Youtube at 15%. These sites have the biggest participant numbers, meaning that potential problems will be broadcast to a wider audience.
When asked where the largest amount of threat lay, 35% marked damage of their brand or reputation as a critical risk involved with using social media. This is easily explained, as the speed at which news travels can result in negative, possibly libellous, rumours and stories circulating a large number of people before companies can get a hold of it and either start damage limitation or counter-claim that rumour.
It takes a steady hand to manage a brand reputation online. At Social Media, we specialise in brand reputation management, dealing with the problems that can arise from social networks and a strong online presence.
Using social media as a marketing tool can be tempestuous. Companies might find that they reap the benefits of it, but it takes an investment of time, effort and knowledge in order to successfully profit from an online campaign and protect against any possible pitfalls. With social marketing showing massive increases in traffic and conversions, businesses cannot afford to be afraid of the risks of using social media as a means of exposure, whether they use an in-house team or an external agency.
Just remember that a healthy amount of respect and wariness will see any who deal with social networks weather the worst of any challenges.
