Mediaboss Marketing

When MySpace ruled the social media world in the early 2000s, everyone believed social networks were only sources of entertainment. Ten years later, social networking has not only taken a central role in our daily lives, it's also integral to any successful business strategy. If you want your business to succeed, it better have a presence on Facebook, Twitter, Tumblr or any number of specialty social sites like Pinterest or SoundCloud.

Until about five years ago, however, the true impact of these networks could not be measured precisely. But now, we can see that the social networking boom has unleashed great waves that are breaking business models left and right, and it's all for the better.

Social media give companies a chance to humanize themselves, giving fans exclusive content in return for their loyalty. Not only do companies gain more fans over Facebook and Twitter than any other platform, but companies can use one of several analytics tools to measure the growth of their brand on those networks to find out the topics or methods that resonate best with fans. It's an effective strategy, and it's helped change the fortunes of several companies on the brink of solvency.

Jeff Ragovin, the co-founder and chief strategy officer at Buddy Media, spoke at Mashable Connect 2012 in Orlando, Fla., to explain why companies must "adapt [to social], or die." In his lecture, he used three companies -- Mattel, Ford, and Kodak -- as poster children for why social media are an essential part of one's marketing strategy.

Mattel and the Bald Barbie

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On Dec. 20, 2011, a Facebook page was launched for a "Beautiful & Bald Barbie," but it wasn't launched by Mattel. The page was started by two women -- Jane Bingham and Rebecca Sypin -- and its mission was to build enough momentum to eventually petition Mattel to create a bald Barbie for kids with cancer.

When it launched, it started because Bingham and Sypin both had daughters who lost their hair due to cancer treatment, and they wanted a bald Barbie to make the baldness feel "normal." The story spread fast, and the Facebook page grew from 0 to 40,000 fans in a few weeks. A month later in January, the story got out to media outlets. By March, the page had 150,000 fans. Thousands of photos and stories were shared about kids with cancer, and more than 150,000 people poured out petitions to Mattel, and pictures of their own children fighting cancer, all for the sake of getting this doll made.

Finally, on March 27, Mattel announced it would produce a bald Barbie with wigs, hats and scarves.

"Play is vital to children, especially in difficult times," Mattel said.

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Social Media Marketing Strategies: How 3 Companies Changed Their Fortunes With Digital