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Social media has been the hot topic for some time now, seemingly expanding its reach each and every day in various capacities. For marketers, these social platforms have already been marketing game changers, providing endless opportunities for connecting with consumers in deeper and more meaningful ways.

Social networking sites (“Member Community” sites) eclipsed E-mail in global reach at 68.4% vs. 64.8% in February 2009. And even more significant, in only the first few months of 2009, the reach of these sites is growing at a brisk pace, faster than any other online sector. – The Nielson Company

From a global perspective, it’s interesting to note how quickly this phenomenon is continues to expand. The graph below, from Nielsen’s Global Online Media Landscape shows the growth from 07′-08′ on a country-by-country basis. Significant growth in a one year period.

Statistics such as these make it hard to deny the rapid growth and raw power that social media commands. Nevertheless, many organizations have been less than speedy with their entry into this digital environment. Some with good reason as it may not fit their organizations objectives, yet others hold out simply due to lack of understanding and fear of the unknown. The thought of navigating the social landscape can be a challenging task, especially for beginners uneasy about getting their feet wet.

Regardless of reason, that fact remains that there are many companies simply sitting on the sidelines, missing a prime opportunity to establish direct relationships with their customers and the possibility of transforming this “two-way communication” into increased sales.

While I don’t claim to be an expert in this area, my pure fascination of the digital marketing revolution fuels my desire to stay abreast of the changing dynamics. If you or your organization is one of the many sitting on the sidelines, I’ll challenge you to take the first step and educate yourself on social media and the possibilities it brings to the table. Introspectively evaluate your current marketing efforts and decide if this is a field you should be playing on. It may or may not be, but the one truth is that sitting on the sidelines waiting and wondering is no longer a viable option.

Where to start…

If you haven’t already done so, finding solid website hosting and creating a content rich home base is your first task. Taking it to the next level, 360i has developed a Social Marketing Playbook, designed to help marketers evaluate the social marketing opportunities available, determine which ones are best for their brands and develop a strategy following best practices for achieving success in social media.

The goals of the Playbook are to:

• Provide a framework for establishing a set of clear objectives and strategy when approaching social marketing
• Encourage thinking of social marketing as an opportunity to have a continuous, valuable exchange with customers
• Advance discussions on amplifying marketing results through the integration of social marketing and offline campaigns

It’s an excellent read that will provide a foundation for the concepts and terminology you’ll need to understand. Download it here.

Secondly, I recommend following a few cutting edge digital marketers. With the landscape in a continual state of flux, they provide a fresh perspective on how to keep your company’s strategy current and relevant. While there are many excellent bloggers that I follow, I’ll keep the list short for the purposes of this post. A few that I recommend (in no particular order):

• Dave Knox (hardknoxlife.com) -Dave is a CPG Brand Manager and true Marketing Technopologist. In may, Ad Age named Dave as one of their “25 Media People to Follow on Twitter.” As personal friend for quite some time, I can tell you first hand he will stretch your views on the mix of marketing and technology. (@daveknox)
• Pete Blackshaw (consumergeneratedmedia.com) - Pete coined the term “consumer- generated media” (CGM) and authors a blog by that same name. He is an accomplished author, most recently publishing “Satisfied Customers Tell Three Friends, Angry Customers Tell 3,000.” Pete perspective in helping companies promote and protect their brands online is well worth following. (@pblackshaw)
• Jeremiah Owyang (www.web-strategist.com/blog/) - Jeremiah is a big dog when it comes to web strategy. The focus of his blog is to discuss how web tools enable companies to connect with customers. An excellent place to start is with his analytical posts tagged Web Strategy. (@jowyang)

Feel free to comment on any additional resources that you have found helpful.