According to Forrester Research, social media marketing is projected to grow at an annual rate of 34% in 2010, faster than any other form of online marketing. A recent eMarketer study found that the Fortune 500 companies that are not using social media dropped dramatically – from 43% to 9% last year.

However, many marketers, especially at smaller companies or larger, more conservative establishments, are still wrestling with how exactly to use social media to help them meet their marketing goals. To make things even more confusing, although 75% of Fortune 1000 companies have implemented an online social media program for marketing or CRM purposes, at least 50% of those campaigns will fail to produce the results expected, according to Adam Sarner, an analyst with market research firm Gartner.

As marketers start seeing weak or non-existent results, they will either give up on this tactic entirely because it “doesn’t work” or they will start looking for partners to help them navigate through this channel if they haven’t been completely turned off.

If marketers decide to engage a partner, but don’t really understand what social media marketing can and cannot do for them, they can easily fall prey to agencies who claim to be fully Web 2.0 literate, but actually have no idea what the latest trends are, how develop a social media strategy, or how to measure and track results from it. Given that social media and the Web 2.0 landscape is constantly changing, it is essential full-service advertising agencies are either staffed with experts who understand how to integrate social media strategies into clients’ marketing communications plans or who have partners that do. Smart marketing communications vendors will also have developed mechanisms for measuring results from these types of campaigns.

Social media marketing, done correctly, can provide important metrics, such as numbers of new users, unique visits, page views and time spent on the site as well as providing marketing research opportunities such as opinion polling. It can also be used for direct marketing. For example, LinkedIn recently launched “Faceted Search” a new feature that makes it easier for marketers to reach out and engage specific market segments. Twitter’s microblogging service is developing a feature that will link individuals to various brand websites allowing them to contribute to the discussion. Social media features that work to support marketing efforts are constantly evolving.

Marketers searching for social media marketing partners need to choose wisely. I’m sorry to report that there are ad agency sharks who will take advantage of advertising and marketing managers who believe they need to invest in social media marketing because “everyone else is doing it”, but who really don’t understand its role as part of an integrated marketing communications strategy. Marketers who get taken in by these shark types are likely to get less than optimal results.

In addition, marketers sometimes make the mistake of expecting the agency partner to provide all of the content for their social media outlets, or they assign a low-level person at the company to do this. The best content will come from brand stakeholders at the company who know and understand the brand attributes and the principals of creating a strong level of engagement between potential customers and the brand.

The most effective way to employ a marketing communications partner is to have them create the social media marketing strategy based on marketing goals, business challenges and target audiences. Advertising agency partners are best utilized as trusted advisers who work closely with a company’s internal social media manager to provide strategic direction, analyse results and help optimize the programs.

It should also be noted that social media marketing may not work for every brand and target audience. Social media strategies that work well to engage and motivate one group, may be totally ineffective for another. The best marketing approach is always going to be the one that will be most likely to generate the results desired by the marketer. Tactics should be developed based on the marketer’s goals and take into consideration budget, target audience, geotarget, timing etc.

To remain relevant, marketing and advertising agencies need to make an effort to learn and understand when and how to use new media tools effectively and when not to pitch social media as part of an integrated marketing communications plan. They also need to be ready and willing to educate clients and prospective clients on best practices for the medium.

Merrick Towle Communications’ Web 2.0 Marketing team and I have been giving quite a few presentations on Social Media Marketing lately. We have been getting excellent feedback. The need and the interest is definitely out there. If you are a marketer who is interested in learning more about social media and other Web 2.0 marketing strategies, contact me at 301-974-6030 or go to: http://www.merricktowle.com/contact.asp for more information.

By Laureen Peck, Director of New Business Development lpeck@merricktowle.com

There was the time when I was eight or nine, vacationing at our extended family’s lakefront cottage in New Hampshire, when I unexpectedly stepped into a hole while playing in water up to my neck, lost my balance, choked on a mouthful of water, and flailing about, became unable to keep myself afloat. My father, in his customary way, was sitting in a chair on the beach reading a book, seemingly oblivious to the buzz of family activity all around him. But he sensed the danger immediately and dove headlong into the lake, fully clothed, and pulled me to safety. Despite the obvious personal benefit I received from this act, I rank it a distant second.

Laird Towle was in his late forties the day he had that talk with me, only a year or two older than I am now. He had enjoyed a distinguished 25+ year career as a physicist, working first in private industry, then for the government. In his most recent assignments, however, he was being asked to work on projects that conflicted with his moral compass. The resulting duress became such that, even with only a couple more years to work before earning a pension, he walked away.

Genealogy had been Laird’s hobby for many years. While studying our family’s lineage back to Scotland and England, he identified a need within the field and took the opportunity to start a specialized book publishing company. While he and my mother had been running this business part-time out of our home for a few years, now they were “betting the farm” on turning it into a successful enterprise.

I moved out of the house within the year. The business grew, slowly. My parents were able to make ends meet. As sales grew, my older sister joined the family business and, after a few years, I started working there as well, first part-time, then full. In the end, I gave five years of service before turning onto a new path that has led me to where I am today. My father sold the business a few years ago, but not before he had built it into one of the nation’s leading publishers within its field; having successfully transformed the business from its original direct mail-based sales model of the 1970’s and 80’s into a largely web-based model of the 2000’s.

Courage. Conviction. Perseverance. Sacrifice.

These are all lessons that have unfolded in various ways over the decades of my life. I can tie each to that fateful father-son talk. Courage to turn away from safety, security, and comfort; to pursue something that is right, not just convenient. Conviction to believe in oneself and one’s principles, not based on brash exuberance or conceit, but on prudent investigation and introspection. Perseverance in the face of adversity; remaining balanced in the face of turmoil and uncertainty; maintaining optimism no matter how great the challenges, and making the decisions and taking the actions necessary to bring about the sought outcome. Sacrifice of short-term reward and benefit in favor of a greater good, a whole life better lived. These are some of the lessons I’ve learned from my father; lessons that make each day something far more than just another day at the office; lessons that inform my world view, impact what I value, and significantly influence the reward I find in life.

By Glenn Towle, Partner & COO gtowle@merricktowle.com

Currently, Essex Property Trust uses social media for our lease-ups and to promote our company as a whole. Our primary venues of social media are Facebook and Twitter. Our goal is to engage with a wider community in which we can attract a variety of people who are interested in learning more about our apartment communities, the neighborhoods that we are in, the company and its culture.

The Essex Property Trust Fan Page on Facebook and Twitter feed are intended to be multi-faceted outlets to promote our company, brand, properties, E-Team and vendors as well as tools for engaging with our current residents, future customers and future employees. In addition, Essex Property Trust creates individual property Facebook Fan Pages for properties like Studio 40-41 and The Grand, and Twitter accounts like Studio 40-41 and The Grand, to maintain a local focus.

What may surprise people in the multifamily business is that we do not consider social media to be a source of advertising in which you gain immediate rentals from. Our studies show that social media is 95% effective in resident communication and retention, and 5% effective in attracting new leases. Social media is primarily a way to engage directly with our current customers and build brand loyalty. It allows us to get more information out there about who we are and what we have to offer.

We realize that we are no longer in the business of selling just our communities – we are selling our neighborhoods as well. That is what connects with people and brings them to our communities. Therefore, we promote local businesses like pet boutiques, neighborhood events and city events. We also include recommendations like favorite restaurants that are nearby, farmers markets or an event like a music fest or Art & Wine Festival. To generate a more personal tone, we include apartment decorating ideas, apartment living tips and various news articles that are relative to our business and our company.

Social media is not one-way communication. Our “fans” on Facebook and Twitter followers can post reviews, ask questions, create discussions, learn about specials or give recommendations. We can address concerns that people may post in a public arena instead of a blog or apartmentratings.com. The opportunities for reciprocal engagement are limitless. For these reasons, we encourage all prospects who tour a community to join our Facebook Fan Page or our Twitter feed, as well as the residents who are already living at our community.

Finally, it is important to note that you do have a responsibility to continually market your presence via social media; otherwise, it will go nowhere fast. It must be executed properly and embraced as a communication tool and not a playground, for the lack of a better term. Each voice represents the company and should not be taken lightly. It needs to be continually managed. Unresponsive communication or lack of updating the content on a regular basis will only serve as a failure. This should not be a throw it, get it up and forget about it kind of function. Once you launch it you need to be actively involved while maintaining a balance with the critically important items of your business.

To see photos of Darcey’s trip to MTC, visit our Facebook Page

by our fabulous client, Darcey Forbes from Essex Property Trust, dforbes@essexpropertytrust.com

In the new web 2.0 landscape, public relations dovetails directly into the world of social media. Earned media can come from a variety of sources: professional news sources, specialty blogs, user-generated social media sites. The new goal is to use influencer media to promote a product. Then push customers to social media to engage in a dialogue about the product benefits. The double whammy of product promotion by a credible source followed by peer engagement produces increased likelihood for purchase.

Merrick Towle knows a public relations earned media strategy is more than a “one release” method. It requires ongoing partnerships with the media to introduce the client or project and educate them. Marketers need to be able to tell a compelling story about their product and engage consumers to build loyalty.

In previous posts we discuss the importance of identifying a strategy and a goal for the earned media campaign. At Merrick Towle, the steps to accomplish this successfully include:

• Identify the business opportunity or challenge the campaign should address. The more specific the better.
• Set a public relations goal. The more quantifiable the better (product awareness, event attendance, friend building, relationship management, sales conversion)
• Formulate marketing strategy, creative campaign and messaging to reach the audience
• Implement proper consumer engagement and media plan tactics
• Monitor the progress through analytics tracking and adjust accordingly

Success in public relations can be determined in a myriad of fashions. The goal may be a huge corporate profile in a major trade publication. Or it might mean 20 event mentions in various area blogs. Visit our website to see how Merrick Towle executed a social media program for one of our clients. More details on the Allegro Apartments campaign can be found on our blog.

by Amy Weedon, Account Planner, aweedon@merricktowle.com

In the new digital world, conversations can take place all during the dating process. Not only can you talk about yourself, but with “pull marketing” the date can ask questions too. The recipient of your communication is in control of the message and it is their decision to act. And when they do act a relationship is formed.

So what does this mean for brands? They need to date their customer. And Web 2.0 tools provide the means.

• Ask customers about themselves. Utilize surveys – phone, mailer, SurveyMonkey – to find out what your brand is doing well and what can be improved. Listen online to conversations happening about your brand.
• Highlight your brand’s special qualities. Create promotions that highlight unique benefits versus discounting price. Encourage brand enthusiasts to participate in promotions. Invite brand novices to join in on the conversation as a fun point of entry. Give prizes for those who participate and add value.
• Develop a common interest with your users. Not all of your brand’s users are interested in the same thing. Social networks provide a great opportunity to segment various conversations to develop different benefits of your product. Blogs, Facebook, and Twitter are all flexible enough to allow multiple conversation paths.
• Wine and dine your brand users. Online social forums are a great way to learn about your brand’s users, but seeing the group interact in person is much more telling. People act online much differently than they do in “real life.” Utilize events to create a first-hand conversation about the brand.

It’s easy at any point to revert to using social media tools as a “push” medium. At Merrick Towle we remind ourselves that the goal is to always ask questions of the brand’s users and ensure that the brand is always connecting with their needs.

by Amy Weedon, Account Planner, aweedon@merricktowle.com

We start by figuring out what the business objective is for the client. Then we develop a strategy and a creative campaign designed to meet the client’s goals. Lastly, we determine the particular set of tools that best fit the strategy and campaign. Perhaps one set of tools will be a social media campaign. But, how do we decide when to explore this avenue?

Social media sites were born out of a desire for people to communicate with each other on topics of shared interest. How can we leverage this as marketers? Certainly NOT by throwing ads at their users. Instead, we can use social media tools to create a dialogue with our prospective customers. We can find ways for our loyal residents to tell others about why they love living in our clients’ apartment buildings. Talk with energy users to figure out how to engage in energy reduction. Ask potential users what they want in a product so our clients can give it to them. Merrick Towle has created a team of folks who are well-versed in social media tools. Bring us your business objective and see if social marketing might help.

by Amy Weedon, Account Planner, aweedon@merricktowle.com