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Social Media
cover+story SOCIAL MEDIA Facebook, Twitter and the like are not teen fads. Wake up and smell the cash these tools are bringing to businesses in India and abroad. By Sana Salam, Bindi Mehta and Ankush Chibber he Oxford English Dictionary simply defines social media as 'websites and applications used for social networking.' Andreas Kaplan and Michael Haenlein have famously defined social media as a gaggle of internet-based applications which allows the creation and exchange of user-generated con- tent. When it involves business, however, these definitions are really putting out what social media means. "PEOPLE POWER" That's how an entrepreneur explained the relentless march of social media through the world of business. No more, he said, will the customer be fed bile as he/she can now easily throw the same back at the business. Albeit in harsher words, what the entrepreneur was try- ing to explain is that the old way Of engaging modern expression," when compared to its original iconic logo. Bad luck, though, that no one else thought so. In an unbelievably short period of time, Gap was flooded with a few thousand negative comments about the logo. Within a couple of days, Gap was being bom- barded with negative comments on the logo on Facebook, Twitter, LinkedIn, YouTube and almost every second design blog. People went creative with their feedback too. There were user-generated logo contests, a parody Twitter account and a Crap Logo Yourself website, which were going viral at an alarming speed. Initially, they tried to play to the gallery by letting the fans suggest alternative designs while saying that they did "like their version." But the fury of the onslaught was such that within a week, Gap announced on the same Facebook page that it was reverting to its customers is now over. You can not just ask him through the television receiver or the pink sheet. You can- not brainwash. You have to engage. You have to talk to him personally. At various stages of his day. Without interrupting him. And always with his permission. This entrepreneur more or less hit the nail on the head with his explanation of social media in the context of businesses. The conserva- tives like to dismiss social media as just another fad. They call tools like Facebook and Twitter transient medi- ums that will eventually fade away CllAP GAP old logo across all channels with immediate effect. PEOPLE: 1. BIG BUSINESS: O. Gap is that the largest specialty apparel retailer within the U.S. and the second largest in the world. It has about 1.5 lakh employees and operates a little over 3,000 stores across the world. Yet it yielded to, as that advertising gentleman said, a bunch of teens on Facebook. The aforementioned can be interpreted by some as an example of how easily a customer can be Your digital marketing effort should be: 40% paid: SEO, SEM 40% free: YouTube, Facebook, Twitter etc 20% others: Web and mobile apps, e-mail marketing Sridhar Seshad'i, Head. Online Sales Operations, Google 56 Entrepreneur + November 2010 and be replaced by new ones. A gentleman from an old warhorse of an ad agency once said that a bunch of teens on Facebook make zilch of a difference to an enormous business. Really? MIND THE GAP Earlier this month, U.S.-based clothing retailer Gap Inc. released a new logo on its Facebook page that it called "a more contemporary, aggressive with a big business in the social media age. However, the defensive and correc- live measures taken by Gap because Of the vir- tual onslaught have worked in its favor. Would it have preferred the backlash against the logo to come in its sales figures? Social media is here to stay. And whether some people agree or not, it is here to make some money and save Some money for businesses, big and small.

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