By: Gabriela Trench
Global Mind USA

This year the global online population will reach 1.8 billion. That's a staggering number—and a large pond for brands to swim in. Social media will continue to grow and play a very significant role that affects consumers, producers and users of the Internet. In 2009, social media came to the forefront of many marketing professionals, yet brands are still catching on. It has its risks, but it's even more risky to ignore the power of social media and the benefits of learning about your product or service by letting the community define the need, want, problem, and value proposition.

Participation in community building: As the significance of social networks continues to grow, businesses will continue to invest more in community building as a marketing driver. Allocating a budget towards emerging media, brands have the opportunity to be pioneers, embracing communities and technological platforms before other competitors do.

Recognition of social media marketing as a "must have": Simply creating a brand page on Facebook without updating its content and engaging in a meaningful dialogue with fans is not responsible social media. It may seem obvious, but having done this and nothing else may have proved to be a frustrating experience for many brands, even defeating the purpose that motivated the participation in the first place. What would happen if you could look at the creation of a Facebook page the way you would at building a community—because that's exactly what you're doing. Brands will need a sound strategy and need to be ready to participate in a proactive manner, both listening and responding. As we see brands adopt heads of social media or "community" managers to lead these efforts, we will see a shift to embracing social media not as a novelty but rather as a means to achieve a sustainable competitive advantage.

The virtual world will continue to impact the physical experience of the consumer: Advancements in digital technology have accelerated thanks to smartphone usage. More companies using simulations and augmented reality technology will create and provide users with branded text overlays and 3-D virtual demos on their phones.

Expansion of location-based social networking: As the use of smartphone applications increases, more and more consumers will communicate instantly to tell their friends what they are doing, where they are and who they are with. For instance, Foursquare is a mobile gaming app that uses geo-tagging technology to help users find and share new bars, restaurants and other venues with friends. Available for several dozen cities worldwide so far, it will expand its reach in 2010, and gain new users and venues in existing locales. The opportunities expand to include retailers in different categories depending on variables such as demographics, location, etc. Retailers of luxury goods could target consumers checking in at upscale hotels or restaurants and invite them to a sample sale or give special discounts.

Demystifying crowd sourcing and using it as a direct sales tool within social media: Social media can take advantage of a community of thought and leverage it for direct sales opportunities. For example, before the release of the movie New Moon, Best Buy asked its Facebook fans to list some of their favorite vampire-themed films and books. Best Buy then featured a selection of those items on sale on BestBuy.com. This was very well received by fans and it resulted in sales. Across many industries and organizations, crowd sourcing will become a growing tool aimed at mobilizing the passionate special interest groups to not only carry a message but, even more importantly perhaps, to lead and take part in activities on their behalf. Focus on 2010 will continue to emphasize understanding consumer behavior and obtaining the insights to maintain personal contact and interact with users. Social marketing strategies will have to adapt quickly to changes in technology and the market.

For effective ways to implement social media, please contact your US Media Consulting Representative at 305-772-5500.