Social media is fast becoming a standard element in the marketing mix of major consumer brands. And with good reason: never before has such a creative landscape existed for people and the brands they love to interact, share stories and build relationships – in all directions.
With social media marketing spends predicted to grow at an annual rate of 34% according to a report from Forrester Research, analyst trends support these thoughts. Yet, not all companies are sold, with many taking a “wait and see” approach as they believe the landscape to be risky and unproven.
Just the opposite is true – waiting may prove the riskiest move of all as brands who wait too long only succeed in yielding ground to agile competitors. This may prove especially damaging in the B2C space. When consumers pledge allegiance to favorite brands, they may stick with those brands indefinitely and outright ignore competitors.
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