3 Best Practices for 2010: Win Customers & Build Market Share in a Recovering Economy

Unpredictable economic times are forcing technology-marketing execs to re-think their current marketing strategies and maximize their resources in new ways.   We recently sponsored a series of interviews with industry leaders from Adobe, Cisco, IBM, and more Fortune 1000 technology companies to understand what top high-tech marketers are doing to counteract the economy and its effect on marketing initiatives and their success.   After compiling results and developing a top 10 list of the “Best Technology Marketing Practices for 2010” (which can be downloaded for free from our resource library at www.handlconsulting.com/resources), we thought we’d share with you three of the best practices that particularly stand out.



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#3: Harness the Power of Social Media

March 25, 2010       

It’s no surprise that #3 – Harness the Power of Social Media – is one of the most important best practices for technology marketing leaders at the beginning of this new decade. Digital campaigns and online marketing are at the forefront of most modern marketers radar screens, but it’s just now that we’re truly witnessing the power and potential of social media.

 

Respondents are increasingly relying on social networks and feel that social media mediums (blogs, forums, communities/networks, etc.) are invaluable to their company’s ability to understand, monitor, and participate in global conversations about their product and brand.

 

You may already be actively monitoring and participating in social networks, but sometimes question where the true value and ROI is. One top Director of Product Management explained in his interview why social networking is a worthwhile investment to him and why market spending at his company in other areas is stagnant.

 

“Customers leverage each other’s opinions and spread the word through these inexpensive medium… this being the case, it doesn’t make sense for the company to build off-line.”

 

Obviously, the brand exposure possibilities of using social media as a marketing tool are endless and the more online conversations about your offering, the better – but there are also concrete ways of finding opportunities to participate in online discussions (which, in turn, drives sales) and measuring how effective these efforts can be.

 

Sophisticated monitoring and measuring platforms and tools, like those we license at handl Consulting, can help companies pinpoint exactly where conversations about their products or services are occurring and divide these discussions by sentiment, demographic, media type, and more. With this knowledge, companies can further discover opportunities to interact with customers and document the return on their social media investments.



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