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Posts Tagged ‘Media’

Social Media – Why It’s Ok Not To Have A Social Media Strategy

Saturday, June 5th, 2010

Social is the new buzz word. Everyone’s doing it, and everyone’s talking about it. Buzz Tracking, Social Media Monitoring, Perception management – it’s all big business now, with agencies popping up all over the place specialising in this market alone.

Meanwhile, marketers are running around trying to get in on the bandwagon which, without proper consideration, may not even take them anywhere.

I can just imagine the water-cooler moment with two marketing heads talking about how amazing it is that Facebook has grown so fast, before immediately deciding that they need a corporate Facebook page. A month later, they’re starting a Twitter account and presenting to their bosses about how they’re at the forefront of digital.

Fools rush in

While this ‘social media strategy’ may get them a pat on the back, it rarely results in any genuine business success, neither does it really represent any form of strategy. However, you could argue that the only thing wasted is a bit of time, so it’s not a huge problem. This is true only until we realise how significant the gain may have been – as which point the opportunity cost becomes quite significant.

The problem arises from today’s action-led corporate world, where we are obsessed with all things ‘doing’. What we’re doing, what we’ve done and what we’re going to do. As long as we’re doing, our salaries are safe.

Sit quietly and listen…

When developing a social media strategy, try a different approach. Just this one time, park being proactive and instead, realise it’s ok to not know what you’re supposed to do. Only with this mindset will you be able to extract from the new and exciting world of social media the real value. After all – this is not an arena for you to flex your corporate biceps, but rather to sit quietly. Listen. Absorb. Consider.

When search marketing started booming, it was a revolution. Representing ‘pull marketing’, search allowed companies to target active consumers who were genuinely ‘in the market’. As the consumers were in charge, they didn’t mind being fed messages by companies trying to bid for their business as they had, in fact, requested it. This happy relationship meant we could all go about our business, lining the pockets of Google.

The mindset of a social surfer is entirely different. They’re not calling your customer service centre or placing an order online, they’re just chatting. It just so happens that the online world is so transparent, you know exactly what they’re chatting about. Whilst the ‘doing’ urge might be strong, it would be rude to barge in.

Design a considered response

The first problem is that consumers are bored of companies trying to sway their opinion. And to be fair, you can see why, given that an average person is exposed to 1000s of marketing messages each and every day.

The second problem is that a company’s urge to ‘do something’ often results in a defensive approach, rather than a creative one. My favourite example is from EA Sports, who responded to a video posted by a customer on YouTube.

The ‘Jesus Shot’ showed Tiger Woods being able to walk on water due a bug in the PGA Tour 2008 EA Sports game. Clearly a glitch, a natural response would have been to run off and try to fix it for the next release. Perhaps communicate with the poster about the fix, send him a free game as a thankyou for his feedback, and assume you’ve correctly leveraged ‘social’ to its full potential.

EA took a different tack, using this feedback to create a reply which has now been viewed over 3 million times. Had EA not tracked the space with such an open and creative mindset, this initiative would never have occurred, and their brand would have been interacted with 3 million times less.

Let the consumers take the lead

The first thing you need to do is simply to start tracking. There are a number of paid tools you can subscribe to, although many will be too expensive for non blue chip companies. However, there are other few tools you can use, or get your agency to start tracking this for you.

At the very least, you should set up some Google Alerts for your company name, your competitors, and indeed the core terms relating to your market and offering. Make a list of some of the key sites you know where people discuss what you offer and check them regularly.

Check in on Facebook every now and then to see if there are any groups which related to what you do, hunt out relevant blogs, track the twitter space closely to get a feel for the zeitgeist of your industry – immerse yourself in your consumers.

Know your audience

With the correct systems in place, it’s possible to learn more about your audience than ever before. What they like, what they hate, what they tell their friends and what they fear. Intelligent, considered and creative analysis of what you find can lead you down many a road which you had not even considered.

As I said – it’s ok to not have a social media strategy just yet. In fact, I think that’s the whole point…

Is Social Media Right For my Business?

Thursday, March 25th, 2010

Social Media is definitely a hot topic when I talk to people about interactive marketing. When someone asks me about Social Media, it’s typically one of these two questions:

1. What in the world is Social Media?
2. Does my business need to focus on it?

Let’s dive into both of these questions a little deeper.

What in the world is Social Media?

Social Media simply put is the two-way sharing of information through the Web via groups of people that share a common link. This process typically starts with someone creating content (article, blog post, video, audio, etc) and introducing to social networks (Facebook, Twitter, Digg, etc). People in the social networks contribute to the content either by creating additional content (comments) or by lending credibility to it (voting, linking, or forwarding). In essence, the social network promotes the content if they want to. Social Media works on a permission model by people first opting into the social network, and by the members being able to give the content a thumbs up or down.

Currently, Social Media can be categorized into five basic types:

Wikis(Wikipedia) –sites that allow users to create articles, add edits or comments, and vote on quality of content.
Networking(LinkedIn, Facebook, Myspace) – sites where people can create a profile, comment to each other, join groups, etc.
Bookmarking(Del.icio.us, Stumbleupon) – sites where users bookmark content that they like. Other can peruse the bookmarks by searching for topics.
Media Sharing- (Youtube, Flickr, blip.TV) – sites where people can upload rich media, such as video and pictures, and share them with friends or family.
News(Digg, Newsvine, reddit) – sites where people can identify, share and vote on articles.

Does my Business need to focus on Social Media?

The first goal of any internet marketing initiative is to get potential customers to come to your website. The only way to do that is to have content on the site that these potential customers perceive as valuable. There’s really no reason to worry about Social Media until you have a fairly compelling site that can convert prospects to customers. After you have done the initial work of creating a user-friendly site with some good content and done some basic website optimization, Social Media might make sense for you. Virtually all business can benefit from Social Media, but do the potential benefits outweigh the costs? Let’s take a look at some of the benefits of Social Media.

Improve Brand Recognition

Social Media can help you promote your brand without spending a ton of money. It does take time and effort to build and manage a social network online, just like it does offline, so be sure to take that time cost into account and put someone in your company in charge of that effort. Many social media sites don’t provide links that improve search ranking, but can provide traffic to your site. Also, bloggers and other social network members may link to you because of your promotion efforts, and this will improve search engine ranking. Social Media content also has value due to the fact that the creator or promoter of the content is part of the social network. There is trust in their relationship with the recipient, and the promoter’s credibility can transfer to you and your product. Have you ever looked at customer reviews of electronics or researched customer testimonials or service issues prior to buying something online? If you have, you’ve experienced the power of social networks.

Create and Identify a Qualified Market

Ever wonder why businesses have a Facebook page? The answer is simple. It provides them with a captive audience that they can market to and solicit information from. This provides an avenue to test products, marketing concepts, promotions, etc with folks that will give them feedback. Social Networks can provide a “crystal ball” to see into the minds of your marketplace through the sampling of people in your network.

Increase Search Rankings

Social Media can also increase links, which can dramatically improve the search rankings for any site, making it easier for customers to find you. As we mentioned earlier, most Social Media sites don’t provide the type of links that improve your rankings online. They do, however, provide distribution of your content to bloggers and other folks who will provide those precious links that increase rank. A strong word of caution here: Social Networks will magnify whatever it is that you are doing. If your message, products, services, and ability to deliver are great or poor, social media will broadcast that fact to a wide audience – which could springboard or crush your business in short order.

What are the Costs of Social Media?

The biggest cost of Social Media is time. Someone has to focus on it and keep it alive through continuous content creation. This time component equates into opportunity cost. If you don’t have a good handle on who you are targeting on the web, it may be a good idea to step back and consider whether or not a Social Media campaign is appropriate for you.

If you have done a good job of content creation and website optimization, Social Media can be a useful tool to market to potential or existing customers. If your business is looking for the benefits we discuss above, consider Social Media Marketing for your business.