 |
 |
 |
 |
 |
 |
 |
|
Search
Archives:
Categories
|
April 3, 2009
If you're in Northeast Wisconsin, we'd love your opinion in a new social media survey that tracks what business in our area are doing with today's social media tools. Do you tweet? Does the term "Web 2.0" cause your eyes to glaze over? Are your co-workers on facebook?
Help us gear up for the Green Bay Chamber of Commerce social media event on May 19 by participating in this survey. We'd love to hear what your reference point is in this hyper-connected age we live in.
Participate by going here: http://whatthetweet.marketingsavant.com/surveyGreen Bay Social Media Survey
November 20, 2008
It used to be that we'd get the Good Housekeeping seal of approval and we'd dine out on that for months, even years to come. There was a time when the JD Power reports on "initial quality" (whatever the hell that really is) would be something that we could build an entire ad campaign around. Many of us can remember that industry certification, award or something similar, like ISO certification, that somehow gave us credibility beyond our wildest dreams.
Those days are quickly showing up more in our corporate rear-view mirrors than in our forward-looking headlights. In fact, I predict that the day where we look on those awards with disdain, or at least indifference, is much closer than most companies would like to think. In fact, the shift from industrial and commercial third-party credibility, established back in the 40's & 50's, as the gold standard for credibility and validation to a much more personal, peer-based standard of validation is happing right under the noses of a majority of companies in all manner of industries.
It's also happening in the financial sector where you have a number of rating agencies that give AAA, AA and other ratings to financial institutions and commercial enterprises that are increasingly "bought and paid for" and "shopped around" rather than earned through objective review and stringent standards.
The currency of credibility in the marketplace has always been customer satisfaction, and customers have always voted with their dollars and their feet. However, the day is nearly here where those customers will completely usurp the power of the ratings firms, award givers and other long-held institutions of credibility.
In a world where customer trust in fleeting and costs real, tangible dollars (according to this excellent post by Ted Mininni), we all need to be on our toes when it comes to building, maintaining and growing the level of trust and credibility that we have with our customers. After all, it's their peer-to-peer third party rating of our company that will be the ultimate in credibility currency for the future.
October 1, 2008
In countless discussions about social media, digital marketing tools and "what's next," I've determined that it's critical for all marketers to put a framework around their decisions on what tools to use, when to use them and how to get started. I put these decisions into a general "3-R" framework.
Risk: What's your tolerance?
Whether you're catapulting your brand into the social media sphere by simultaneously starting a blog, moderating a customer community and twittering, or if you're simply monitoring social media to get a glimpse of how the world sees you, there's a certain modicum of risk involved. You need to determine how much risk you're willing to take.
Social-media risk can manifest in the following ways:
> Exposure to issues that you'd rather not confront in a Web-based public forum.
> Suppliers and competitors watching your every move and your every flaw.
> Legal ramifications of customers commenting on bugs, defects, recalls, etc.
> Sharing control of your finely crafted brand message with passionate, yet misguided, fans.
Organizations that are ethical, honest, have strong brands and a strong sense of self will prevail and enjoy a low-risk environment in their social media endeavors. However, if your organization is secretive, insecure and does things you wouldn't tell your mother about, then you'll likely find there's simply too much risk for you in social media.
Resources: Do you have them?
This is probably the number one question I hear: "What does it take to do this stuff (blogging, social media, podcasts, etc.)?" For most companies, the cost of technical resources is the least of their worries. In fact, a majority of marketers who deploy social-media campaigns find it's the least expensive part of their budget. It's much more important to have the right people in place to help with your social media efforts. Whether that's a knowledgeable person in-house or a paid consultant, human resources are the most important aspect of putting social media to work in your organization.
Rewards: What do you expect?
Let's be serious. The only reason we're in marketing is to pursue capitalistic rewards. If we really want to pursue social media as part of our marketing - with low risk and few resources - we can certainly have at it. In the final analysis, however, we need to show substantial rewards in order to make it worth our while.
The ROI of social media depends on your overall goals. Most marketers define social-media rewards in the following ways:
> An increase in Website page views from social media sources.
> A larger network of customers and fans on social networking sites.
> Growth in your prospect email database.
> Increased conversation about your company on the Internet.
When considering social media as a component of your marketing mix, remember the three R's: risks, resources and rewards. By vetting your plans against these criteria and asking the right questions, you'll be on the path to social-media success.
April 2009 (1) November 2008 (1) October 2008 (1) September 2008 (3) January 2008 (2)