Social Media is the latest buzz word in the internet world. Everything around us over internet is turning social, and we now have social media stalwarts like YouTube, Facebook and Twitter as new-age internet heroes. While everywhere social media is being touted as next stage of evolution over internet, there are still many Doubting Thomases who are yet to open their eyes to this phenomenon of Social Media. This presentation from Marty Cagan of Silicon Valley Product Group (www.svpg.com) should help them understand why whole world is going gaga over social media:
Marty makes some remarkable comments, and my favourite has been “If your product sucks, social media won’t fix it… If your customer service sucks, social media can help”. Drives home the whole concept of social media in one shot.
What does this social media phenomenon mean for Indian businesses?
The first and most easy application for Indian marketers is that of exploiting the celebrity brand power over social media. Major part of user-generated content from India, like elsewhere in the world, is around celebrity. YouTube is filled with videos from Bollywood, TV serials and celebrity mishaps ;).
Many media houses now have official channels over YouTube to promote their productions, like this one from Eros. When drama-queen Rakhi Sawant was to decide whom to marry over television, we had Rakhi Sawant as trending topic worldwide over Twitter (check this).
Social media is all about conversations and nothing can beat the attraction of talking to superstars through this medium. Celebrities like Priyanka Chopra, Gul Panag, Mallika Sherawat, Preity Zinta already hve built good following on Twitter. Soon we will have brand endorsement deals covering publicity over social media as well. India is celebrity-crazy country and no wonder brand endorsement fees by celebrities run into multiple crores. If tapped properly, a decent part of this can start flowing into these social mediums. Social Media provides a superb channel to use this leverage of celebrity brand-power and lure customers.
This, for certain, can be the immediate application of social media for Indian businesses, besides many others about which we will be talking soon.
So do stay pluGGd.in.