Social media is not the answer to marketing woes. But a strong, strategic plan is. 
“TGIF” – that’s Twitter, Google, the Internet and Facebook. And listening to some people you might get the impression the answer to every marketing problem is one or all of the above. We just need to use these four tools, use them more often, invest more money and resources in them and we will become the market leader. There is no doubt these four revolutionary developments have forever changed how we market products and services. But are they the answer to all our marketing issues?
I think not! As powerful and effective as these mediums can be, they are not at the core of what makes brands strong. The most important thing is an effective marketing strategy. Without it, no combination of TGIF can resurrect a bad brand or sustain a good one. Al Ries, chairman of Ries & Ries effectively made this very point in an article in Ad Age. He emphasized that better strategies, not better weapons, win wars. And he gave some compelling examples.
Linen N Things didn’t go bankrupt because it didn’t effectively use Twitter. It went bankrupt because it was a knock off of Bed Bath & Beyond and never differentiated itself from the market leader.
DHL didn’t pull out of the U.S. market because it didn’t buy enough AdWords from Google but because it was the No. 3 brand in a category dominated by UPS and FedEx.
Kmart didn’t go bankrupt because it couldn’t figure out how to use the internet to promote the brand. Rather it went bankrupt because it was caught in no man’s land between low cost Wal-Mart and the high end Target.
Coca-Cola didn’t fail in 3 attempts to build a leading energy drink brand (KMX, Full Throttle and Tab) because it didn’t have a Facebook page but because it waited too long after the launch of Red Bull.
The point is obvious. While TGIF are useful, effective and should be important elements in most marketing campaigns, they will not compensate for a bad marketing strategy. As Ries states, “what wins wars are better strategies.” We sometimes spend a lot of time analyzing and utilizing Twitter, Google, the Internet and Facebook and not nearly enough time developing a strong effective strategy. Without a good strategy, no medium will be effective. With an effective strategy, just about every medium can be effective.
Let’s do the hard work. Let’s focus on our brand strategy. Then we will be prepared to choose the appropriate tactics to win the brand wars.
These are some excellent points Jimmy. Just like with traditional marketing you must frist create a strategy and tactics that go along with your marketing campaign. An example of this in the hospital industry would be the Mayo Clinic –
http://priorityresults.com/blog/interview-lee-aase-mayo-clinic-on-social-media-marketing-for-healthcare/
Mayo is a perfect example. They are doing it very well. Of course they have the staff and resources do do it well. Lots can be learned from them.
First of all – Linens and Things wasn’t a knock off of Bed Bath and Beyond – Linens and Things came first. And there was a war between the two stores that Bed Bath and Beyond almost lost – and then revamped their approach and came out ahead. Linens and Things just couldn’t evolve – however their products were better. Secondly – KMart didn’t go bankrupt, however did close many of their less profitable stores. KMart is older than Walmart and Target – and is grandfather to them both. Be careful of where you get your information.
Just to set the record straight, Bed, Bath and Beyond was founded in 1971 and Linen and Things was founded in 1975. Also, KMart filed for bankruptcy on Jan 22, 2002. Thanks for the comments but i do believe the facts referenced are correct.