How Big Companies Utilize the Power of Social Media?

Marketing

December 3, 2008

Social media in simple words refer to the communication produced by the interpersonal interface among individuals through a specific tool or medium.

Social media has redefined the way people communicate with each other by breaking up the cultural and geographical boundaries. Big companies utilize the power of social media for the growth of business.

Social media reflects an important change in how the public substance is controlled and consumed. Social media has abridged the distance for communicating a message between the sender and the receiver. Today, the information highway is not only about control and command but it is also concerned with collaborating and connecting. For example, major newspapers like Singapore’s Straits Times and the New York Times have created online channels where they allow the consumers to choose the news they wish to read. With tools like RSS feeds, one can pick exactly the kind of news they want. Consumption of information has altered from push to pull.

Social media has helped in redefining cultural boundaries. If a company wants to make a global network, it has to look at the target group of each country and needs to be sensitive towards its cultural backgrounds. But with the help of social media, all this is steadily narrowing down as communication has become easier and quick from a cultural perception.

In earlier times, the companies employed print advertisements to market their product, while today companies can simply place their product on the blog to advertise and sale. Certain companies are apprehensive of this task, while others take their chances and traverse on social media sign to attain greater heights.

The augment of new online culture has widened the wave of social media for the individuals and the companies. People come together to use the benefits of social media. They are segmented on the basis of their interests and the way of using social tool. Editorial links, peer recommendations, paid advertisements on social media sites helps in finding you the potential consumers and interested individuals. It is an effective tool to promote your business and a powerful strategy that helps in getting links and huge amounts of traffic on your site.

If you wish to publish content for ad revenue or want to sale any product, social media is a powerful method that will make help in gaining good profits over the time. There is no other promotional method that is cost effective and also gives you a large number of visitors.

There are many companies that have been successful in implementing the power of social media to their advantage. The social media strategy varies from wikis, micro blogging, online video and social networks to photosharing, podcasting, widgets and many more. Some of the companies using social media marketing are as follows:

1. Accenture

Accenture a leading IT company brings out the latest research findings and insights on elevating high performance from a congregation of company leaders.

Their blog features thought on a wide series of business issues, with specific focus on helping companies attain high performance. One can also find information about emerging expertise and career experience from certain employees.

2. Abbott labs

To deal with the scarcity of young people who wish to work in medical laboratories, an association of medical diagnostics companies headed by Abbott Labs initiated a scholarship competition on Facebook. The students were asked to create T-shirt, print and video advertisements for the profession.

According to the organization, the social media campaign reached to almost 1.9 million students interested in science.

3. Bank of America

Bank of America has applied the power of social media by creating a small online community. It is an interactive community providing helpful and thriving information.

4. British Airways

British airways has effectively advertised and updated the information through Twitter. Twitter is an online service that allows you to stay in touch with people with the exchange of answers to the questions.

5. Coca-cola

Coca cola created a blog to share information on an extensive range of topics, varying from their brand history to role in pop culture. With the means of social media they were able to communicate effectively with the masses.Being part of our daily lives, the coca cola advertising also includes aspects from daily life like peanut butter on crackers.

6. Gartner

Bio Gartner is a prominent source of objective and independent technology related search and advice. Gartner applied social media channels through twitter services.

7. Hewlett Packard

HP blogs are written by a range of employees belonging to different levels and positions in the company. Thus one can expect diverse viewpoints on various important issues.

8. HSBC

The HSBC created a new online Business Network for beginners and small businesses. One can express their views, share discussions and gain valuable suggestions on issues concerning your business and company. It is an effective means of social media where people can take advice and support from the other fellow entrepreneurs.

9. IBM

IBM used wiki to generate a set of guideposts for all IBMers who wished to blog. The guidelines aimed at providing practical and helpful advice to safeguard both IBM bloggers and IBM itself, with the view of embracing the blogosphere. From there onwards, many new patterns of social media have come forth. The effort has widened the scope of the presently existing guideposts to involve all forms of social computing.

Social media is no longer a passage for only personal use. It is rapidly becoming a necessity for the success of business. Big companies and businesses are entering into the blogosphere and post the profile pages of their companies in online communities. Even the Small companies are adopting the similar ways of social media. What is great about the online business world is that you do not require a million dollar budget for marketing. In fact, the most successful online connections entail free personal interactions between a business owner and their community.

(4 votes, average: 5.00 out of 5)

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3 Responses to “How Big Companies Utilize the Power of Social Media?”

Maic stone Says:
11.47.49 at 11:47 am
Hi
very beaustifully organised and well documented content of the subject i am really impressed by readding your article.its information related terminology are very genuine, keep it up good luck.
Ronald Coyle Says:
14.26.06 at 2:26 pm
These are great examples of ways in which big companies utilize social media. Peter Kim has a pretty good list too (http://www.beingpeterkim.com/2008/09/ive-been-thinki.html).
Jason T Chandler Says:
05.33.34 at 5:33 am
These are great examples that could sway others that are still on the fence about social media. Would like to see the flip side of this of companies that got trampled on my social media by way of negative press or employee misconduct. Good stuff Manish.

How Big Companies Utilize the Power of Social Media?

Social media in simple words refer to the communication produced by the interpersonal interface among individuals through a specific tool or medium.

3 Responses to “How Big Companies Utilize the Power of Social Media?”

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