The Secret Powers of Time

May 31st, 2010 by admin.

The Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA) is a multi-disciplinary, politically independent enterprise that combines cutting edge research and policy development with practical action. They now have a YouTube channel. I found this presentation both visually impressive, and thought provoking: In it, Professor Philip Zimbardo conveys how our individual perspectives of time affect our work, health and well-being. Time influences who we are as a person, how we view relationships and how we act in the world.

(thanks to Doug Campbell for the link)

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Social Media Marketing – myth versus reality

May 27th, 2010 by admin.

If you ask a CMO at one company what social media represents to her, she will likely provide a starkly different answer to that proffered by the CMO at another company. The difference in answer might be exacerbated if the companies work in different market sectors, or if one is B2C and the other B2B, of course. However, the largest source of differentiating interpretation would lie in the fact that social media marketing is perhaps the most abused instrument available to corporations at present (though in some businesses the employee may hold that dubious distinction), simply due to the fact that its potential value is undeniable, but its specific function and application is as yet unwritten.

Let me correct myself on that last point: the function and application of social media marketing is not unwritten, but rather so buried in the ink of prognostication and postulation, that it would suffocate even an arctic seal.

For my money, Social media marketing is NOT an exclusively online or digital undertaking, but rather a relatively recent opportunity that recognizes the influence and power of the end-user, as a partner in the introduction and evangelism of products, services, and solutions. This recognition can be manifest via myriad platforms and channels, including the Internet, mobile applications, WoM, and more. Successful social media marketing is a transversal commitment to manifest and nurture a brand valuation across multifarious sectors. In this way, one is able to both maintain the vitality of a brand, and also reinvigorate it almost instantly through the maintenance of carefully managed yet open dialog with the users of this brand proposition. The cost of such an undertaking are not, as some have suggested, greatly lesser than conventional marketing practices. They are simply transferred, from media to labor.

This factor, along with several others, deserves clarification, and I am pleased to therefore present the musings of my colleague, Tom Pick, below.

As an independent consultant and through B2B technology marketing firm KC Associates, Tom shares expertise in SEO, search marketing, social media, content marketing and interactive PR. In this article, he explores some of the myths surrounding social media marketing.

Though social media marketing is rapidly advancing in terms of adoption and sophistication, many marketers and business executives still struggle with it. They wonder if their organizations are doing enough, if they are doing things right, even if they should be involved in social media at all. This confusion is partly due to some still-common misconceptions about social media marketing…:

1. Social media is so easy we can hire an intern to do it. Because social media is fundamentally about conversations, the individual(s) behind your social media activities is often perceived as the public face of your company. This person is answering questions about your products and/or services, responding to or redirecting complaints, sharing interesting content, providing more information…you’ll probably want to be a bit careful about who gets this responsibility. ->

2. Social media marketing is really hard. True, there are techniques that work better than others, guidelines that are good to know, rules of etiquette to follow and common mistakes to avoid, but the general skills called for aren’t all that uncommon, and the specifics are teachable. It helps to be creative, curious, articulate, friendly and helpful. Okay, so not just anyone can do it, but it’s not rocket science either.

3. Social media is only for the young. Argh, no! On the consumer side, the largest cohort of Facebook’s user base is the 35-54 age group, and the fastest growing is the 55+ cohort. On the producer side, the most important attributes are interpersonal skills and industry knowledge. Age is irrelevant in social media usage, and life experience is a plus for social media marketers.

4. Social media is free. Um, no. While recent studies show that about half of marketers say that social media reduces their overall marketing costs, it is by no means without a price. The primary budget effect of social media marketing is to shift costs from media buying to labor. The tools of social media are (mostly) free, but the time, effort and expertise required to make social media marketing effective has real costs.

5. Since social media marketing is labor-intensive, we should offshore it. Ooh, not a good idea. While offshoring works well for tasks like IT consulting services and software application development, it tends to be less efficacious for market-facing activities. Thoughtful companies keep their SEO efforts local (to avoid link-spamming, for example) and after evaluating all of the costs, many are even moving call centers back onshore. And see myth #1 above.

6. Social media marketing success is all about rules and best practices. Not really. True, there are guidelines as to what works well (being sincere, helpful and knowledgeable) and what doesn’t (trying to use social media sites as one-way broadcasts of your marketing brochures), but the field is new enough that many of the “rules” are still being written. While there are some techniques that seem to work well and are worth replicating, and others that should clearly be avoided, there’s also a great deal of space for creativity in this rapidly expanding and evolving area.

7. Social media marketing has no rules. Now, just because there isn’t an established cookie-cutter approach to social media marketing success doesn’t mean there are no rules. Don’t be excessively self-promotional, don’t try to automate everything, be sincere, add value—there aren’t a lot of rules, but these are a few very important ones.

8. Social media marketing gets immediate results. Almost never. Sure, you may run across an example somewhere of this happening, just as you may hear about a couple who got married three weeks after they met. It can happen, but isn’t common and shouldn’t be expected. Social media is about building relationships and influence. It takes time, but the payback can be much more lasting than a typical “marketing campaign” as well.

9. Social media marketing is too risky. This fear is most common in the medical, financial services, and other regulated industries. And it’s certainly true that there are situations where a company has to be somewhat cautious about its social media participation and content (another reason to keep myths #1 and #5 in mind). By all means, be aware of your specific industry and regulatory environment and put necessary safeguards in place. But people in your marketplace—customers, prospects, analysts, journalists, shareholders and others—are talking about your company and/or industry across social media channels right now. The real risk is in ignoring those conversations.

10. Social media marketing is new. Not really. Certainly the tools are new: Twitter has only been around since 2007, Facebook since 2006, and even blogging has been popular for less than a decade. But social media marketing is fundamentally about participating in and influencing the direction of conversations about your industry and brand. Those practices are timeless, but social media has increased the velocity and magnitude of such conversations.

11. Social media marketing doesn’t apply to my business. There are isolated niches where this is true. For example, if you build weapons systems for the U.S. military, you not only don’t need social media marketing, it would probably be best to avoid it. And there may be a few other such situations. For virtually every other type of business however, someone, somewhere is discussing your brand, your industry or your competitors in social media. You’re missing out if you’re not listening and participating.

To read more of Tom’s articles, go to his award-winning Webbiquity site, where he covers B2B lead generation, social media, interactive PR, SEO and search engine marketing. In fact, he has an article coming out soon that I think will be especially representative of one of my biggest pet peeves: the very mistaken notion that social media marketing can be undertaken in much the same manner as previous, more traditional, marketing campaigns. I’ve said it before, as have several worthy business friends (such as the wonderful Paul Dunay), and I’ll say it again: Social Media is a commitment, not a campaign.

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A Quick Primer

May 22nd, 2010 by admin.

I’ve received a number of emails in the past couple of months, asking me to explain different functionalities of this blog, so I’m taking this quick opportunity to provide a quick primer on the different sections herein:

Main Body

Obviously, the body of text inhabiting the majority of the page represents the “content” of this blog, with entries posted on an “as inspired” basis. A link at the beginning of each entry allows visitors to leave comments, which you are warmly encouraged to consider doing, should you have thoughts, insights, questions, cookie recipes, or other valued contributions to make.

Right Column

Here’s where you can find some additional fun stuff!

The Subscribe tab let’s you enter your email address to subscribe to blog updates (no spam or other use of your email address). After you become a subscriber, you can also revisit this tab to manage your subscription details, or unsubscribe (though you would be sorely missed!).

The Categories tab allows you to selectively extract articles which relate to one or another particular topic area.

Recent Posts, Archives, and Search are self explanatory, I believe.

The GoodReads tab features a few random suggestions of books I have enjoyed, while the Good Tech tab features software or hardware I have found particularly compelling (currently, I am featuring Kovid Goyal’s impressive e-book management software app, “Calibre”; Scott MacGregor and Sherman Dickman’s powerful email management application, “Postbox”; and Matt Pizzimenti’s “Privacy Reclaimer”). The Good Sounds and Good Sites tabs respectively share some of my recent musical and internet discoveries.

Of course, if you find something in your wanderings that you think I and our readers might appreciate, please don’t hesitate to let me know!

Across the bottom of the whole site sits the Wibiya toolbar, which offers site search or Internet search tools, a remarkably accurate Multilanguage instant translation application, windows into my Facebook and Twitter pages, tools to share pages with all sorts of social bookmarks or sites of your preference, a “Facebook Like” button (which I do hope you will click!), a handy arrow to take you instantly to the top of whatever page you are on, and a minimize link, to hide the toolbar away discreetly.

Access

The blog can be accesses from any page in the site, simply by clicking the green “db” icon at top right. Alternatively, you may follow the navigational hierarchy, and find the blog section within the “The Process in Action” section of the site.

So there you have it, a quick and easy primer, which I sincerely hope will make your time on this blog, and the site as a whole, more enjoyable and rewarding.

I am thrilled that you enjoy my and my fellow writers’ entries, and thank you for both reading and sharing these articles with your friends. We (myself and my fellow writers) are always aware that our contributions are part of larger conversations, and we hope that some of what we record here encourages you to get more actively involved in one or more of those interactions.

Digital Darwinism

May 7th, 2010 by admin.

Have you heard of Habbo, MyLife, Netlog, Orkut, QZone, Tagged, RenRen or Vkontakte? These and plenty of other social networking sites boast impressive numbers of registered users on each, and they are but a few of the high fliers that may have nevertheless slipped under your radar.

Social networking is – despite its paradigm shifting promise – a business proposition not unlike many others: it begins with an exponential market grab, representing the transition from fad to trend more than anything else. That stage is now passed, and is being replaced by the inevitable “backlash and absorption” period: For every Facebook, there are many Bahus, Mugshots, Pownces, Sixdegrees, Soundpedias, Yahoo360s, et al. The list of broken and dissolved social networking sites will grow as alarmingly as once did the numbers of people registering on some of those same sites. This list will be matched only by the accelerating roster of social media companies being purchased, absorbed, liquidated, and otherwise consumed by more robust and aggressive “co-opetition”. This happened in the automobile industry, in the banking industry, in the airline industry…and it will happen with this new socially impactful dynamic.

So all this was predictable enough, and shall come to pass (it has already begun). However, there is a 3rd – and less quantifiable – dynamic which is inexorably rising in influence, and could prove more impactful than any of the other aforementioned mitigating trend milestones: user burnout.

When new social networking sites cropped up over the past few years, many of us felt compelled to sign up with each and every one, for fear of finding ourselves on the wrong bandwagon, stranded at the starting point while everyone else rode thrillingly forward on the roller coaster of social media engagement. Today, it is not unusual for individuals to belong to 5 or more social networking sites, and consequently spend a large portion of their day managing their online presence. This investment of time is not matched by the reward, and the ROI (Return On Investment) must be at least balanced for an initiative to survive. While the social media brands will do their part in the coming months to raise their value proposition via conglomeration, acquisition, and improvement, this will not- in and of itself – suffice.

I predict (not sure you can predict something that is already manifesting itself, but there you go!) that the next 4 months will see a powerful degree of social network decline and realignment, as consumers and users begin to streamline their social presence online, and deactivate certain accounts, in favor of others. We have kicked the tires long enough, and the testing phase is over. Selections will be made, and loyalties cemented.

Facebook
While Facebook has made several missteps along the way, I see most people sticking with that brand, so long as Messrs Zuckerberg et al don’t really screw things up: we sense there is a bigger, more long-term vision at play here, and are willing to stay on the ride, for the present.

LinkedIn
With a little spring cleaning, and cross-platform functionality (the Blackberry app is very weak, and the TripIt app seems occasionally buggy, to name but a couple), this brand could prosper during this phase. It remains to be seen how the business model will integrate itself with potentially complementary offerings.

Orkut/Plaxo
Can more than one address book aggregator survive? Is there a merger in the offing? Which will be the first to aggregate in the Cloud with full effectiveness? Will LinkedIn realize that it could – in fact – slip past these two in that offering, and become the default Cloud business address book, as well as online profile and professional group discussion environment?

iRead/GoodReads/Amie Street/Last.fm/ReverbNation/deviantART/Shelfari/Buzznet/ANobii/Librarything/etc…
There are way too many book and music social networks out there. Watch as the smaller ones either become absorbed into larger offerings (will Pandora and Slacker also move more aggressively in to the space and compete, or will partnerships such as the recent FB bridge suffice?), or carve out ever more specialist niches for themselves, like crabs scuttling out of reach of their predators..?

Stickam/OneWorldTV/FilmAffinity/YouTube/imeem/Gather/Flickster/Auters/etc…
How many social networks can the movie-fan community support? With Hulu and others bound to upgrade their social media integration, I imagine this will be another area ripe for confluence.

With over 400 (at last count) social networking sites currently in operation, and a plethora in the offing, we have finally reached the point, I believe, where saturation has peaked and integration and selective pruning will ensue, manifest from all quarters. As I suggested above, brands will dissolve through neglect or lack of differentiation; others will be absorbed by stronger enterprises, for better or worse; and still others will find themselves deselected by their user base: the Dodo birds of Social Media.

After a period of fat trimming, including some new introductions that make sense (Social Media for the under 13 set is a challenging but attractive sector, so long as the privacy and protection issues are well-managed, and there are several compelling players coming out in the next month or two), social media will settle in to its next phase of existence: less intrusive yet more smoothly integrated into our daily lives. The novelty has worn off, and the value needs to clarify and communicate itself. More importantly, the value must find a way to unobtrusively integrate itself in to our daily lives, so that it becomes a tool in our quotidian existence, as opposed to a distraction.

Habbo (162,000,000 registered users), MyLife (51,000,000 registered users), Netlog (62,000,000 registered users), Orkut (100,000,000 registered users), QZone (200,000,000 registered users), Tagged (70,000,000 registered users), and Vkontakte (73,000,000 registered users).

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