Posts Tagged ‘business marketing’
How do you define engagement?
No matter how you define it, engagement is something that we most likely underestimate. Engagement symbolizes the touches that occur in various moments of truth and this should completely change not only how you engage someone in each moment but also how the inside of your company works with one another to make it frictionless and experiential.
For years I’ve written about how the 4 Ps of Marketing, Product, Place, Pricing, and Promotion represented a dated perspective of customers and markets. In an era of connected consumerism, one could argue the merits of any of “Ps” and whether or not they’re still relevant. I suppose that’s a debate for another time. Instead, I’d like to introduce of two additional Ps that will propel a decades old concept and modernize it for a social economy.
The Millennial or Generation Y has the world abuzz. This generation is not only changing how businesses sell and what they sell, they’re also changing how businesses work. Millennials are indeed the first truly digital generation but they’re aren’t the only group with digital DNA. Generation Y, those that follow X and Generation Z behind them are rising fast. They too see the world differently and already represent a significant economic force in the world. In the United States, Generation Z is said to control up to $30 billion in spending. They’re connected. They’re informed. And, they’re practically immune to traditional sales and marketing programs established to serve the generations before them.
Content Context is King!
Social media ushers in an era of contextual relevance that finally trumps content as king. Don’t get me wrong, content is important. After all, without it, what would people read, watch, interpret, remix and share? But without context, content is simply a message or story trying to find a home. In social networks, people stitch together social networks based on their relationships, interests, and aspirations to personalize their online experience. Doing so creates a network where, in theory, information that’s shared and the connections that come and go are material to everyone involved.
Even though there are a few imposters out there, The Conversation Prism is still the original and IMHO the most thoughtful visualization of the social media landscape. JESS3 and I introduced The Conversation Prism at SXSW in 2008. Since then, it has undergone three iterations with the last being v3.0.
Social media is more than a digital water cooler for TV and movies. The global conversation that takes place around events and the experiences people share based on what they watch teaches us about consumer preferences. More importantly, their activity influences behavior. Behavior counts for everything. Studying it is just the beginning of course. In order to understand and eventually steer behavior, we must translate activity into insights and in turn, translate insights into actionable strategies and programs.
I’ve been a long-time supporter of MediaTemple’s (MT)Residence program along with Gary Vaynerchuk, Neil Patel, and many others whom I respect. I wanted to share my “7 questions to answer to become a social business” with you here..
It’s inevitable that I will get the question. You’d think by now that I would learn to expect it…that I would prepare for it…or have a response that would be purely second nature. But I don’t. I’ve no standard answer that automatically inspires anyone in the moment to take action. And, to this day, I neither expect the question nor do I have a rehearsed or standard riposte committed to memory.
So what is “the question?”
Rebecca Lieb, my colleague at Altimeter Group released a new report, “Content: The New Marketing Equation Why Organizations Must Rebalance.” The report helps organizations find balance in the creation of effective content strategies while delivering value to stakeholders and consumers and also the bottom line.
A key objective for senior executives over the next several years is to use disruptive technology to get closer to customers, to improve relationships, and enhance experiences. It is a considerable move and the result will usher in a new era of adaptive and empathetic business models. However, this is a move that is easier said than done., especially when vision and execution are two sides of different coins. This is a critical path where businesses must not only commit to new technology and goals, but also invest in the methodologies, systems, processes, and people to bring about change from within before it can effectively engage outside.
Brian Solis is principal at Altimeter Group, a research firm focused on disruptive technology. A digital analyst, sociologist, 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.