Posts Tagged ‘business marketing’
I’ve received many inbound requests for comments based on a report from Gartner, an IT analyst firm, that estimates as many as 70-percent of social media campaigns will fail in 2011. There are a series of discussions hitting the blogosphere and the Twitterverse exploring this very topic, some elementary and others on the right path. I contacted Gartner earlier this week and the problem is, that this data isn’t new at all. In fact, these discussions are fueled by information originally published in 2008 and in early 2010. Yet another example of the importance of fact-checking in the era of real-time reporting, yes, but, when I paused for a moment, I appreciated the timelessness of this discussion.
Jeremiah Owyang, industry analyst at Altimeter Group, published a report that sent shock waves throughout the global creative industry. For large agencies, it represented a harbinger of change. For specialized groups, the report was a declaration of validation.
In his report, “How Social Media Boutiques are Winning Deals Over Traditional Digital Agencies,” Owyang documents the disruption facing traditional agencies. For those businesses already advanced in social media strategies and needs, budgets are turning to boutique shops as much as 8x over traditional agencies.
Social Media is among many things, our gateway to discovery and interconnection. While social networking may seem trivial, truth is that we get out of it what we put into it. But this goes beyond the time and energy we spend on day-to-day participation. Our investment in social media earns its largest dividends when intent and purpose meet personification and engagement.
For years, Twitter focused on building a fervent community while other established and burgeoning social networks attempted to do so while fueling growth with advertising dollars. 2011 will go down in history as the year when Twitter was officially promoted from a micro blogging network to a full fledged interest network, with each of its denizens expressing their likes and dislikes Tweet after Tweet. Combine a highly engaged interest network with the ability to introduce relevant promotions or brands in a way that’s non-intrusive and you have an interesting recipe for fusing a social network with an ad network.
Welcome to the (R)evolution, a new series that connects you to the people, trends, and ideas defining the future of business, marketing, and media. In episode 8, I proudly welcome Frank Eliason, senior VP of Social Media at Citibank.
Brands are racing to create a social presence on Facebook, Twitter and the hottest social networks of the moment. The initial goals, of course, are to increase brand awareness and build community. To do so however, takes a holistic approach that extends beyond the regiment of broadcasting messages to silent audiences. Now, brands must establish a social equilibrium whereby the 4C’s of community drive measurable and mutually beneficial activity and engagement through the thoughtful introduction of content curation and creation, conversation, context, and continuity. More importantly however, brands must now find creative means to recognize the role of a more informed and connected consumer and the varying influence they wield in the social ecosystem.
Facebook Founder and Chief Executive Office Mark Zuckerberg describes Facebook as a social utility that helps people communicate more efficiently with their friends, families and coworkers. Indeed, Facebook is so much more than a social network. As a social utility, it changes the dynamics of relationships, how we communicate with one another, and how we discover, share and learn. Facebook and Social Media are redesigning the information super highway, forever altering how information travels and how people connect. The world is literally becoming a much smaller place and as a result, businesses are forced to compete for attention where it’s focused. Otherwise, the concepts of Digital Darwinism and the need to Engage or Die most certainly become reality – out of sight, out of mind.
Facebook is, at the moment, the most important social network in the world. Over 500 million people connect to one another in the “Social Network.” And, with the introduction of the Open Graph, we are interacting with our Facebook connections on our favorite websites where our social graph and the corresponding activity of Likes, interaction, and commentary become the centerpiece for social curation and more importantly, our focused attention. We are putting our social network to work and we are learning how to share, discover, and collaborate in public.
Four-and-a-half years ago, Jack Dorsey sent the Tweet that would eventually spark a social revolution. At just 24 characters long, Dorsey and the Twitter team introduced us, one by one, to a new medium for connecting and communicating with one another. It would forever change how its community shared, discovered, and learned, setting the stage for a new era of influence and relevance. And in just four short years, Twitter would emerge as something more personal than a social network, it would serve as a human seismograph for facilitating, tracking, and measuring human movement and experiences.
Listening is only the beginning. Engagement is the beginning of the end of business as usual. Once we hear, truly hear our customers and the people who influence our decisions, effective engagement is inspired by the empathy that develops simply by being human.
We start to see things through the eyes of our consumers.
We feel their pains, frustrations, and also happiness.
We sense what it takes to encourage positive sentiment.
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.