Guest Post by Jaap Favier, managing partner of The Small Circle
What is the secret of bars? Why do we happily pay four times as much for beer in a bar as in a store? We pay this brand premium to be with friends. The secret of bars is that they convert our quality time into cash. Like bars, social media are places where friends meet. The best social media programs also convert the consumer’s social time into a brand premium, reaching a return on investment (ROI) up to four times as high as the ROI of a TV commercial.
Mark Zuckerberg announced in a short and sweet post today that Facebook is now home to one billion digital denizens. I’m not going to focus on the impact this news will have on its stock. Instead, I would like to focus on how this significant milestone aligns with his vision, a vision that was clearly communicated in the company’s S-1.
After re-reading Zuckerberg’s letter to investors, here are a few themes that resonate with me in light of this news…
The state of the relationship between Twitters and its developer community is nothing short of tumultuous. While there are significant merits on either side of the debate, what’s clear is that the Twitter of yore is no longer on a similar course for what will be the Twitter to come. It’s a sign of maturation and focus. It’s Twitter’s shift from tech startup and media darling to an aspiring new media empire. Ruffling feathers and clipping wings is an unfortunate reality of any business strategy.
Every day, an increasing number of connected consumers are taking to social networks to ask for help or express sentiment related to business or product related experiences; some do so to seek resolution from their peers, others broadcast questions or comments as a form of catharsis; and a smaller group of consumers actually hope to receive a response directly from the company. The reality is that social media is the new normal. A myriad of social networks, whether you use them or not, are now part of the day-to-day digital lifestyle with Facebook, Twitter, Yelp, Youtube among others becoming the places where your customers connect, communicate, and engage around experiences. They take to these social networks and more because they can. The question is, what are you going to do about it?
There’s been many debates as to whether or not social media promotes activism or whether or not it’s actually fostering a lazy form of participation. Retweets and Likes don’t bring about change. While I believe social media is a strong platform for raising awareness, the relationship between cause and effect is defined by action regardless of medium.
I can’t be the only one to notice this…infographics, “viral” videos, Like and Retweet campaigns, they all seem to be trying a bit too hard lately. For example, most infographics I see today are no more than visual press releases with graphical elements tied to information…and then more information…but wait, then more information. If this was just about visualizing scrolls of information, then anyone using free infographic generating tools and a list of interesting data points could make pinteresting graphics. The key is to think less about the packaging and more about the story you want to tell. But even more importantly, it’s time to put the social in social media and craft the story you want people to talk about and share.
All eyes are on innovation hot spots around the world. But it’s not just about hot startups, soaring investments, and mind-blowing exits, it’s about the series of common traits that inspire entrepreneurialism. Vision, determination, creativity, salesmanship and the relentless pursuit of communities is something that not only applies to entrepreneurs but also intrapreneurs within small and large organizations. The truth is that in times of innovation, everyone must think about what we do today and how it can be done differently tomorrow.
Guest post by Steven Van Belleghem (@steven_insites)
One of the key challenges in the social business/conversation world is: how can companies honestly be customer-oriented. In my research, I learned that four pillars help companies to move forward in this challenge. These four dimensions are: Customer experience, Conversation management, Content marketing and Collaboration with clients.
Customer Experience: people love to talk about your service and your products. It is the key driver of consumer conversations.
It wasn’t too long ago when sport industries were confounded by the openness of social media and the ability for fans and players to share experiences in real time. Now of course, times have changed and teams in every sporting league imaginable are experimenting with social media to improve relationships and experiences with fans. The San Francisco Giants are among the sports teams that are leading the way for a new genre of engagement and community building.
Why ask why?
Why make excuses?
Why ignore what it is that will help you stop making excuses?
Why stay where your dreams are suffocated?
Why would you settle for less than anything than you believe in?
Why be unhappy when you could be appreciated for what makes you…you?
Well, because it’s [seemingly] easier.
But, it’s not who you really are…
Brian Solis is principal at Altimeter Group, a research firm focused on disruptive technology. A digital analyst, anthropologist, and futurist, Solis has studied and influenced the effects of emerging technology on business, marketing, and culture. Solis is also globally recognized as one of the most prominent thought leaders and published authors in new media. His new book, What's the Future of Business (WTF), explores the landscape of connected consumerism and how business and customer relationships unfold and flourish in four distinct moments of truth. His previous book, The End of Business as Usual, explores the emergence of Generation-C, a new generation of customers and employees and how businesses must adapt to reach them. Prior to End of Business, Solis released Engage, which is regarded as the industry reference guide for businesses to market, sell and service in the social web.