Social Media December 2007 to June 2010

I originally wrote this post in December 2007. In social media years that was a lifetime ago. However, the words are more true now then back then. Social media's progress got a set back, or kick start, due to the economic crisis. You can decide your opinion on that. What I know is I believed then and I still believe now.



Well, the 2007 year is wrapping up and the final numbers are coming in. These are the all important numbers which demonstrate online behaviour in general and more specifically the consumer spending habits during the peak holiday period.

Online Holiday Sales Ho-Ho-Hold Up - eMarketer via kwout

It is unanimous that Social Network Marketing continues to dominate the press and the pocketbook of consumers. With word of mouth becoming the new cred over traditional corporate spokespersons the individual reigns supreme. Prosperity Research continues to advance natural techniques to understand the behavioural mechanisms that guide Social Network models. There is little need for big media buy or fancy gimicks in the new democratic space on the internet. The old addage of "talk is cheap" has an all new meaning.

eMarketer's Predictions for 2008 - eMarketer via kwout

What your online media seller doesn't want you to know

Prosperity Research has launched many campaigns for customer utilising the editorial spaces on social networks. We have proven that we can reach a vast demographic, capture the front page of search engines and do it in an honest and meaningful way without the use of ppc or display ads. Read on to learn what your media seller does not want you to know.

Social Networks are the fastest growing space on the Internet and arguably the fastest growing space for information and entertainment. With this has come an avalanche of advertisers and marketers (online media sellers) to take advantage of its popularity. Unfortunately they came with the same old bag of tricks. What they don't want you to know is that the old bag of tricks is . . . well, old. To tap into Social Networks it is critical to understand the dynamics of why they are the corner stone of the the greatest communications revolution since movable type. It is simply, people talking to people on a one to one level. It is this dialogue between individuals, not business to customer that is the difference.

Knowing that it is the conversations BETWEEN people in social spaces is what drives both the generation of content and the explosive growth rate of these spaces. This dynamic defines how it is possible to get vastly better results without relying on ppc or Display advertising.

What to do? Become part of the conversation!

• Create interesting and engaging content that is relevant to your customers
• Establish conversations with your customers
• Be interested in their opinions and respond to them
• Establish a presence for the long term to build relationships, trust and loyalty
  Keep your content current and evolving. Like in real life relationships it is about continuously growing

Using these techniques will not guarantee results, but it will provide you an effective and more cost efficient means of reaching your customers. It will also allow you to establish loyalty with your customers that can not be attained with ppc and banner ads.

It is time to become part of the conversation before you get left out.

7 Things You Must Know about Social Marketing

Paradigm shift is how I have referred to the unparalleled increase in influence of Social Network spaces on most all aspects of our lives. In this blog I have written about the 7 required shifts that businesses need to make to survive the move from real world to digital. I will continue to articulate and refine these shifts because they are at the core to business’ success in the digital world. To survive business must move from:

1. Advertising to Interesting
2. Me to You
3. Side to Centre
4. Viral to Social
5. Video to Burst
6. Push to Pull
7. Print to Pixel

Taking these on board is not as easy as reading this blog. Steering clear of the many pitfalls that line the path to change is not easy. Very few "Social Marketing" companies actually do social marketing. What they do is attempt to cut and paste old school methods into the new world and we all suffer badly for their ignorance. Good luck on your journey.

Online is becoming the clear winner

I get enjoyment browsing through the hundreds, if not thousands, of feeds I recieve each week. There are always a couple of gems in the lot that validate all the hard work my colleagues and I are doing. It is difficult being ahead of the crowd. If you are so far ahead it can look like you are all alone, ha ha. But with a steady flow of data showing that people are catching up, soon this lonely feeling will be but a memory.

More than Half of US Adults Text, Blog, Otherwise Use Social Media via kwout

mri-ad-medium-preference-segmentation.jpg via kwout

Buzz Canuck: The Three Horse Media Race... via kwout

From Advertising to Interesting

When I see articles like the one displayed here questioning the vitality of Social Networks as a viable marketing channel I laugh. And not just a giggle either, it is a full on belly laugh – all the way to the bank. Social networks are “social” places. Traditional advertising and cut and paste print advertising does not work and has no place in them. Attempting to use these methods to reach consumers is on par with placing a square peg in a round hole. The term Behavioural Targeting gives me another giggle. Huge amounts on money, brain power and industry effort is put into this exercise. It is the real world equivalent of a dog chasing a car or a moth drawn to a flame. But being the moth is never the same as being the flame. So behavioural targeting will always be a less effective strategy than being the flame or being interesting.

Has social media lost its luster? - iMediaConnection.com via kwout

Changing from Advertising to interesting is the only way to fully reach your consumer market in Social Network spaces. Move your content from the side of the page, banner ads, to rich and engaging content in the middle of the page. Not only is it inline with what people expect to see in Social Network spaces but, unlike banner ads, its placement is free. What does this mean? Simply become a content provider that interacts with consumers as they would with each other and do it honestly.

Some easy steps to becoming interesting

• Think of yourself as a personality not a product
• Create content that engages consumers (e.g. ask a question)
• Follow up – one time placement is not much different than spam
• Is it something you would send to your friends?
• Evolve over time, that is reveal more and different aspects of yourself
• Value the relationships you build with consumers

How do you make behavioural targeting work for you? Behavioural targeting is a good predictor of what people want. Rather than using it to place banner ads, use it as a predictive tool to place content they want where they want to see it. Offer more not less to the relationship and it will pay dividends.

Out of the Gate Running

And away they go!!!! Businesses are becoming savvier and demanding proven ROI on their ad spend. To do this they are gaining and increasing appreciation of online marketing where there is a clearer link between and buys. They are proving this with the lion share of their budgets.

Center for Media Research - Daily Brief via kwout

However, as businesses become more sophisticated so are consumers. The audience of one and the long tail reign supreme. They call it behavioural targeting but it is little more than appreciating the fact that consumers can be particular and the old days of blatant, in your face advertising has declining value.

Seven Top Online Marketing Trends for 2008 - ClickZ via kwout

As consumers become spoiled for choice and overburdened with content they will increasingly filter based on specific interests. Each person will in a sense become part of the long tail. Prosperity Research has built a business model around this very natural and organic approach of personal selection. Put your self where you customers are likely to be.