Monday, October 18, 2010
I agree. The article notes that " Social Media will essentially fade into the background, in that it will be a part of virtually everything in the next few years."
Essentially Web 2.0 is really all about Social Media. It's the new means of communication, and it is just as organic and pervasive as email has become in our everyday lives.
While I don't think traditional media will altogether disappear, I do believe that the vast amount of communication that occurs between markets and consumers will occur via social media platforms. Particularly, in the case of the millennial generation. For instance, in the Forrester Social Technographics study, Internet or online users are segmented into six major groups-consisting of Critics, Creators, Joiners, Consumers, Collectors, Spectators and Inactives, the majority of the population tend to be spectators. http://www.forrester.com/empowered/tool_consumer.html
This article suggests that we are moving away from being spectators, but actually Joiners and Creators.
In this new Social Media era, the preferred means of communication will be primarily by dialog and content that is created by consumers for consumers.
This is a great example of how a PepsiCo brand-Gatorade is using Twitter and Facebook to increase engagement for their Mission Control and G-Series brands. What is interesting to me is the concept of being engaged 24 hours both from an internal standpoint and the use of their agency partners to help with continuous monitoring as well. This reinforces the position that Social Media within companies has to be a total division all on its own and must utilize staffers to be dedicated to engaging & monitoring consumers' and their conversations about the brand. What I don't understand is what their real objectives are? Is this a pure PR push? Is it branding awareness? What are they really offering to their customers? Also, it still seems as if engagement measurement has no real standard, and it is totally arbitrary based on how the brand perceives the interaction with consumers is increasing.
However, as a media sales professional, it is refreshing to see that the pure metrics of CPM, CPA, CTR, Impressions etc., are not as important considering how consumers are interacting with brands in the digital space due to the advent of social media. In particular, for a niche brand that has not had the scale to compete purely based on delivering volume, we have always sold the uniqueness of our content and how it relates to our audience and how they consume the content.
The manner in which brands are evaluating engagement now, substantiates the point we have been making to agencies all along-its engagement with the brand that matters, and high engagement drives purchase.
Sunday, October 10, 2010
Thursday, October 7, 2010
Wednesday, October 6, 2010
Tuesday, October 5, 2010
Based on this week's assignment, here are some of my thoughts.
1) What are the main challenges for marketers on Facebook today? I think the main challenge is how do Marketers monetize engagement. The Fan pages are great, but what significance does user "likes" mean for the brands. I think incorporating location based services as mentioned in my previous post, can somehow drive purchase and help reward loyal consumers. I also think that Marketers do need to be careful about being too intrusive. FB is entertainment for most of us, and Brands participation in a manner that is visibly about selling product while we are in our "downtime" so to speak-can be an annoyance. Measurement also continues to be the main challenge, without purchase data-how does a brand determine its ROI or Return on Marketing and Advertising spend?
2) What is working well? I think sweepstakes, promotions and humor as a tactical approach are working well. When brands such as M&M's use their page to reinforce the brand's identity, I think "fans" appreciate the authenticity. They utilize their fan page in an engaging and fun way that keeps the brand personas alive by creating a fun, engaging user experience and this seems to be what works best. I also think the liquor brands really bring to life their offline experiences by showcasing them on their social networks, i.e Belvedere and Heineken -which tweet about their live events and posts pictures and films of the events on FB. This creates a "how can I be there" feeling in users and for those that attended, they feel as if they have had a VIP experience as they were "in the know" and part of the in-crowd. In effect, the brands create brand evangelists from regular users. Again, this begs the question, how do brands measures the impact-is it simply awareness that this most important and is gaining mindspace or keeping the brand forefront in the minds of the consumers the way to win?
3) As a customer/consumer - how do you feel about being a "fan" of a company or brand? How does this inform your thoughts about using such a page as part of a campaign strategy?
I actually am okay with being a fan. I consider myself an influencer in my social network and in my offline social circles. Being a fan does acknowledge my endorsement of a brand. I'm a True Blood fan for instance and I believe it's an awesome show. I like spreading the word about what I think is hot, what's next and new and by sharing my like's with my "social network" I actually am able to educate and inform them and as a result, they often seek my opinion. As a music lover for instance, I can be a fan on Maxwell and Sade's page and because I did respond to the 25 random things you don't know about me-most of my friends in my social graph know that Music is my passion. As such, I often use FB to inform and educate my friends on new bands and new music that I think is hot...I enjoy being able to be a brand evangelist and help expose new artists and their music. The same holds true for brands that I endorse such as Jet Blue-my good opinions or not so good -are 'heard" by my friends.