Each week, the members of Powered’s marketing, business development and product teams pick a news article, blog post or research report that “speaks” to them. With that article, they need to come to our weekly staff meeting prepared to give a 120 second update on what the article was about and why they found it useful. I’ve been a little behind in my updates recently so you’re getting a few weeks worth in one fell swoop.
Links are below:
Marketers Like Twitter More Than Consumers Do
Interesting stats between the different views of marketers and consumers re: Twitter. While marketers see Twitter as a platform that is here to stay, consumers either don’t have an opinion or think it’s somewhat useful or dead. Both marketers and consumers feel it’s not a good platform for advertising or promoting products, which is interesting considering we get a lot of questions about using Twitter for just this purpose.
I do agree with the article that Twitter can be useful for awareness efforts, but I don’t think that by promoting your business you will generate leads or new business from Twitter. Twitter is about relationships. It’s about connecting with people that you find interesting. It’s about people…not about businesses. And if consumers don’t know or don’t care about Twitter, then it begs the question – Are marketers wasting time and energy in trying to figure out how to use it to propel their business?
DP Rabalais (Marketing)
In doing competitive intelligence this week I cam across an interesting story about Passenger and how they’re helping Mercedes Benz tap into 20-somethings (some current, but mostly future customers) help shape their future product offerings. Definitely worth the read if you get a chance.
Good article on how CEO’s at top companies use social media, and also how companies are using tools like Twitter, LinkedIn and Twitter.
I liked this post by blogger, Mack Collier titled Why Many Marketers Struggle with Social Media because it does a good job of succinctly calling out where traditional marketing and advertising is relevant vs. where SM is beneficial to companies. My favorite quote:
If you’re Burger King and you’re looking to influence whether I go there or not, use plain old marketing. It’s just fine. It’s the right tool for the job. So is advertising. You don’t HAVE to use social media for that.
But, if you’re Burger King and you want to understand me, to get what’s really going on inside my head, and know what we have in common, then THAT is where social media can be useful. Talk to me. Get to know me. Ask me about me and the things that aren’t about you.
Doug Wick (BizDev)
The danger of being an innovative start-up that is a little resource-challenged is that your innovations can be easily imitated. Facebook has been slowly learning from Twitter and incorporating their features while Twitter struggles with problems like infrastructure that Facebook solved long ago. This article does a nice job of showing where the endgame for Twitter might be, now that Facebook has acquired another sophisticated Twitter-imitator, Friendfeed.
My article this week is Virtual Worlds are Getting a Second Life. Some interesting stats about the rebounding explosive growth of virtual worlds (especially among youngsters), and how they have been faster to develop revenue models than their 2-dimensional social counterparts like Facebook and Twitter. I would guess that is related to the fact that Facebook and Twitter ultimately deliver stickiness through the exchange of content (an activity that is complementary to our real lives), where 3D simulations can expand the possibilities for other social behaviors – such as commerce – more naturally since they do not complement, but instead emulate, our own reality.
Jay MacIntosh (BizDev)
Women are more relational and nurturing while men are more transactional…at least that’s the theory from a study by RapLeaf. http://digg.com/u3AQJa I’ve always been fascinated by how women and men think and behave differently. To see it in action, pay attention to the dynamics the next time you’re in a group setting (children or adults). You’ll likely see female energy more focused on understanding others and connecting with them by validating their experiences and feelings. On the other hand, male energy is usually more focused on being understood by others especially in terms of what we know and our past success. How do these differences show up in social media environments? Though I don’t have the data to support this…yet, I’ll bet women use “friending” features more than men, while men participate more in things like reputation management. Anyhow, something to consider when talking strategy with clients.
Bill Fanning (BizDev)
Bill’s been out doing some major sales stuff but time to get him back on the “article” wagon.
Don Sedota (Product)
This is a good list from Jay Baer on 11 Timely Social Media Takeaways. It’s basically a short-list of 11 recent social initiatives or planned initiatives by companies/brands and a key takeaway from each. My favorite is the one on Lane Bryant and their recent announcement of a “Plus-Sized Community” for women. It’s a great example of striking an emotional chord with the customer for a brand that on the surface may not seem to be a great social candidate. Lane Bryant is also hoping to leverage member questions/comments for the purposes of product innovation which seems to be an increasing trend.
In the spirit of interesting stats and prospective customers potentially finding Facebook Connect as an attractive demand generator, here’s a post from Brian Solis on up to date Facebook stats . Unfortunately, he doesn’t mention the source of his information but he says that the statistics will be used in his next book so take that for what it’s wo
rth. Anyways, some highlights that could be used to sell prospective clients on the attractiveness of Facebook/FBC as a demand generation source include:
- More than 5 billion minutes are spent on Facebook each day (worldwide)
- The average social graph equates to 120 friends
- 120 million users log onto Facebook at least once a day
- 15,000 and counting websites, devices and applications have implemented Facebook Connect since its launch in December 2008
I found this article pretty interesting, Please Don’t Follow or Friend Me, posted by Steven Hodson on the Shooting at Bubbles blog. It talks about how the concept of “friends” is different across different social networks and whether being someone’s “friend” on one social network is an obligation to accept that person as a “friend” on all social networks. A good quote from the article that sums it up (and I tend to agree) is “The richness and value of the Friending Economy comes from the quality and closeness of your ‘friends’, not the number of them. By blindly reciprocating we dilute the value of our ‘Friending’ not just for ourselves but also for those people who do decide to follow or friend us.”
There’s also an excerpt to another thoughtful post in the article’s sidebar (near the end) called “What Have You Done for Me Lately – Keeping Score in Social Media” which is similar in spirit but speaks to the viewpoint that just because you’ve followed someone, re-tweeted their comment, linked to their blog post, etc. doesn’t mean you should hold them in debt until they return the favor. The payback will be eventual and long-term, and in the end everything evens out.