By M. Isi Eromosele

Social media is a blend of Internet technology and social interaction that creates customer value. This combination of technology and sociology has created a permanent shift in the way people discover, read and share news, information and user generated content. The result is that the mode of Internet communication has been changed into that of instant dialogue, spontaneous and unscripted within linked communities of common interest.

Social media provides a fast paced basis for people to interactively and efficiently share opinions, experiences, insights and perspectives by means of settings such as Facebook, LinkedIn, Twitter, Orkut, MySpace, Hulu and YouTube.

Social media has advanced beyond creating forums for casual social interaction. It needs to be taken seriously by companies because it has developed into a powerful consumer advocacy tool. Companies can utilize social media to effectively communicate with and get the attention of their current as well as their targeted customers. More importantly, it can be used to build long-term one-on-one relationships with various categories of audiences. Social Media creates velocity in market speed.

Interactions and conversations are facilitated online between established groups, giving them extraordinary influence and power within the consumer market. Over eighty percent of user communications on Twitter take place on wireless devices, providing customers with the ability to exchange information any time, anywhere. As news and information spreads among Twitter followers and friends, the information is distributed to an enlarged audience at the speed of the Internet.

Businesses need to use his powerful tool as a marketing and public relations forum to develop long-term relationships with their target audience. It can also be used to publicize their products or services niche with specific messages targeted to segmented audiences.

Social media networks are not forums for advertising. It needs to be utilized as a means for interacting with people, generating goodwill and trust. Company participation in social media networks is not a business campaign as much as it is a forward looking customer building commitment. Companies should use these networks to build an interactive audience that could grow to support their brands. Social media efforts generate great business exposure. Social media tactics generate business leads.

The benefits of engaging in online social media are greater than in face-to-face social networking or in using standard marketing. With social media, businesses can reach beyond the constraints of geography in building awareness for their brands among far-flung global audience. This contributes to increasing their brand equity and market share.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

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