As a supporting follow-up to my previous post on Social Media Marketing in which I attempted to make the case for referrals as the key driver of marketing results on that platform, I want to highlight part of a post I read today from Josh Bernoff of Forrester Research (Josh’s Blog).
Josh’s post is about Social Media being a recession-proof platform for marketing spend. However, in that post I thought he also supported the case I was making about the innate value of the Social Media platform for the purposes of marketing – not awareness, not lead generation in the Pay-Per-Click manner, but what Josh calls consideration. Per his description below, what is called consideration is really about referrals … and the fact that marketers can create Social Media applications which foster valuable referrals (note the emphasis).
But social applications are about consideration, not awareness. Blogs, word of mouth, social networks… they’re about people connecting with other people. You may resist advertising if your finances are tight, but if your bud tells you that new movie is really worth seeing or that the Gap has the cutest new tops, that’s more persuasive than advertising. Basically, in a recession, the consideration phase is more important than awareness — and that’s where advertising flops and social applications succeed.