If you want to get a glimpse of the economic future, focus on the emerging trends driven by those defining the evolution of the social Web.
Social media is not only democratizing influence and upsetting the traditional media ecosystem, it is now an indicator for a potential economic resurgence. Leading metrics firm, comScore, released its Q1 U.S E-Commerce Spending Report recently, finding that online retail spending approached $34 billion in Q1 2010, which represents a 10 percent boost compared to last year. The surge also symbolizes the first time that growth rates hit double-digits since the second quarter of 2008.
In business, we learn through everything we do and it influences all that we try and repeat. When something new comes along, we tend to view it with either enthusiasm or skepticism, or in some cases a bit of both. Such is true with the advent of Social Media.
Anyone who has ever worked in corporate marketing, advertising, and branding is more than familiar with a brand style guide. It’s how we ensured that the brand was represented as intended through marketing aesthetics and messaging – including detailed usage instructions on font, style, color, language, placement, positioning, etc.
It is our bible and adherence to its tenets and instructions is strictly enforced.
Dan Schwabel is not only a personal branding expert, he’s someone I’ve come to know and respect over the years…and definitely someone I consider a friend. We recently sat down to discuss Engage and the resulting interaction culminated in a wonderful discussion that explored the state of professional and personal branding in the era of new media.
How do you define “Engage” and do you believe that people and business that fail to engage will cease to exist in the next decade?
Over the years, Social Media experts attempted to redefine ROI for a new era of influence. While some introduced alternative philosophies for measuring the nuances tied to social media, others wondered aloud whether ROI simply wasn’t necessary as the tools and methodologies for analyzing yields didn’t yet exist. And furthermore, by focusing on justification and metrics, we were distracted from the primary objective of building relationships and cultivating dialogue.
Social Media marketing is rapidly earning a role in the integrated marketing mix of small and enterprise businesses and as such, it’s transforming every division from the inside out. What starts with one champion in any given division, be it customer service, marketing, public relations, advertising, interactive, et al, eventually inspires an entire organization to socialize. What starts with one, a domino effect usually ensues toppling each department, gaining momentum, and triggering a sense of urgency through its path. And, it also marks the beginning of our journey through the ten stages of social media integration.
An overnight success ten plus years in the making, Social Media is as transformative as it is evolutionary. With every day that passes, we are presented with increasing reports that showcase the impact of Twitter, Facebook, YouTube and blogs within small and large businesses alike. As a result, we can now visualize the state of adoption, understanding, and implementation in different business ecosystems. What we realize as a result, is that individual examples vary based on the assorted stages of aptitude and proficiency in Social Media within each company.
Brian Solis is a digital analyst, anthropologist, and also a futurist. In his work at Altimeter Group, Solis studies the effects of disruptive technology on business and society. He is an avid keynote speaker and award-winning author who is globally recognized as one of the most prominent thought leaders in digital transformation.
His most recent book, What's the Future of Business: Changing the Way Businesses Create Experiences (WTF), explores the landscape of connected consumerism and how business and customer relationships unfold 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. In 2009, Solis released Engage, which is regarded as the industry reference guide for businesses to market, sell and service in the social web.