We’ve been thinking about this recession…oh yeah, a lot. The revenue from advertising that used to be so easy now is getting scaled back in the name of better measurement to prove the effort. We think a focus on added value might be the ticket. Added value for us comes in the form of a new emerging type of ticket.
Good just launched a video piece that examines the impact of Hippo Rollers on one village in South Africa. Check out the video - and while you’re at it, consider a donation to this great cause. Visit the Google-endorsed Hippo Roller Website, which we launched in September of 2008.
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Posted by Juliette Mansour on November 25th, 2008
Whether you like it or not, there are some big changes happening. In this economic downturn, workforces are being slashed, cash flows are suffering…businesses are scrambling to keep customer service from being impacted. It’s all so seemingly painful. We also believe though, that there is still a silver lining …and it’s called the social media space.
So, how does this economic downturn relate to social media? While some predict more slashes and cuts, we also see no apparent halt in social networking practices and opportunities. In fact, US consumers are still going online to discuss their frustrations and are sharing money-saving tips and strategies for deferring purchases.
Here are a couple of examples of the power and influence of social media.
Q) To what extent do you trust the following forms?
The top 25 social networks accounted for more visitors than webmail services
(Hitwise- Experian 2008)
3/4 of consumers rate Word of Mouth as the no.1 influencer of purchase intent.
(Nielsen)
We are not surprised. In fact, we see the current economic landscape against increasing social media habits as a perfect opportunity for those marketers who are willing to initiate a viable dialogue with their consumers. The time is not to wallow in cash flow crunches, but roll with the changes by reaching out to consumers via their preferred social networking platforms.
We’re primed and ready for promoting those dialogues with consumers and have begun planting the seeds for a few of our more high profile clients who understand how to roll with the changes. They – and we - embrace a philosophy which we find very well illustrated by the following quote:
It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change
Charles Darwin
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Posted by Juliette Mansour on November 11th, 2008
YouTube, Facebook, Twitter, MySpace, RSS feeds - Listen up corporations…
Social networking sites are allowing your consumers to participate in discussions about your brands daily and even up to the minute! What are you doing about it? How are your marketing tactics changing to adapt to the new world of user conversations?
Think it won’t affect your consumer? Think again. For those businesses still entrenched in the standard web marketing path, here’s proof that the world of social networking is merging and expanding like never before: Today, nearly 75% of online shoppers choose retailers based on social media feedback. Here are consumers’ most trusted sources of product information:
According to Ross Mayfield’s Power Law of Participation, the whole point behind these social networking sites is to bring groups together to discover and create value about your brand. And while not all participation may be active, we have learned that we can derive “collective intelligence” or breadcrumbs of their engagement.
Convinced that social media can affect your brand? Good. So, let’s start with some crucial mantras first. Now, repeat after me:
“I believe I will engage more customers through social media”
“I believe social media is not a choice, but an obligation.”
“I believe my company will grow faster if I choose social media as a venue for communication with my customers.”
“I believe that the new world of internet users will pay attention to me if I use social media.”
I think you’ve got it! You understand now that consumers are more passionate, more constant, more intimate with and loyal to your brand if they have an outlet for engaging directly with other users.
Now that we have an understanding, the question remains:
“How can my business create a social strategy?
Like all good strategies, you need to confirm a few things:
1) your audience
2) your goals
3) your plan
4) your adopted tools/techniques
Chrysler leveraged the Jeep brand and its highly active, well-defined demographic in a successful web marketing strategy involving social networking. Their audience was clear. The plan: to create a venue to entice its consumers to connect with their brand and connect with other consumers. Their tool: Flickr.
Jeep connects with customers via a community page with links to videos on YouTube, photos on Flickr, the company’s MySpace and Facebook pages and a list enthusiast groups. This is a great example of how a major corporation is using the world of social media, networking and Web 2.0 to build something different for its customers and net users. Big names such as Marriott, McDonalds and Nike are jumping on the bandwagon regular blog posts/updates from topics such as travel to BMX racing to corporate social responsibility efforts.
The point: The focus is not longer on campaigns, but on relationships.
Not convinced? We’ve got some more data for you….
In August 2008, Internet Retailer found that 39.3% of retailers surveyed were using social networking sites to help increase sales. Among them, Facebook was the most popular for social media marketing:
With active social networkers, a little clarity on your goals (what kind of relationship you want with your audience), a lot of listening, a ton of willingness to spark a dialogue and interact with your consumers will get you across the networks with a strong voice. Some questions will naturally arise about the proper level of engagement, about negative comments, spending, etc. A little help from experts along the way will get you there.
At Freeworld Media, we’ve been talking about social media’s power and embrace that power as part of our vision and philosphy. We’ve cautioned that the brand conversation has left the corporate website, and this data certainly validates that. We love talking about how to find those conversations and enter them appropriately.
Your new mantra is (now, repeat after me):
“I Want My Social Media!”
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Posted by Juliette Mansour on October 14th, 2008
One of the first serious academic studies on Corporate Social Media.
The University of Massachusetts Dartmouth Center for Marketing Research recently conducted one of the first statistically significant, longitudinal studies on the usage of social media in corporations.
“This research proves conclusively that social media has penetrated parts of the business world at a tremendous speed. It also indicates that corporate familiarity with and usage of social media within the Inc. 500 has nearly doubled in the past 12 months.”
Connect with your customers by authentic participation in social networks.
Embrace the two-way communication of social networking and begin a conversation with your customers. They are already using these new technologies (blogs, social networks, etc). Marketing AT your customers just doesn’t work anymore and you need to join the online community through authentic participation. Turn your consumers into “fansumers” as they connect around your brand.
Here’s how to get started:
1. Start small - Take it one step at a time with a single idea.
2. Keep it Simple - Pick a single objective and expand what you learn to other parts of the company.
3. Start at the top - Make sure key leadership is on board.
4. Invite Detractors - Tough-sell departments (* cough* Legal) should participate in the process.
5. Hurry! - Speed is of the essence… Move quickly
6. Adapt - make changes based on customer feedback.
7. Connect - make friends & have fun.
Social and environmental responsibilities are a big part of corporate communications but the message isn’t getting out there. It may be hard to admit, but inside of most of your companies, there is some sort of divide between departments.
Now more than ever, companies are striving to appear more aware in their business practices, when one hand doesn’t talk to the other, the miscommunication gets amplified once it reaches the outside. Freeworld helps bridge the gap when the technology and marketing departments are kept apart.
What companies are you seeing that are doing a great job of managing their corporate social communications?
“I’m sorry - things just aren’t working out and it’s time to move on. ”
This breakup conversation is playing out in consumers’ heads everyday. Companies are getting dumped without even realizing it as consumers are no longer faithful.
