Monday, May 25, 2009

It's like trading baseball cards.....

Developing an effective, useful, and profitable form of advertising in social media is not going to be easy. Or is it even possible?? Bringing companies' advertisements directly into play on a "social network" may be too bold of an approach for this new environment. I feel that the nature of today's consumer and their "selective hearing" in terms of advertising will be difficult to bypass for marketers and advertisers if a direct method is used.

For many years companies have found ways to bombard audiences with their messages, but they adapted and found ways to block these out. It began with direct mailings which are being phased out by the Internet. Instant communication through email has eliminated snail mail for many companies. Then came the attack of telemarketers and everyone was afraid to answer their home phone at 10:30 AM on a Tuesday because it might be a telemarketer. Caller ID and no call lists have discouraged companies from using this method also. The lovely pop up blocker came along to shoo away those pesky ads bothering you as you surfed the web. Satellite radio promised great commercial free music. Finally the DVR and Tivo have pushed TV advertisements off of its pedestal. What do all these things have in common? It was a one way street, advertisers talked, but did not listen. So how will social media be any different if it becomes inundated with all these "messages?" Will someone develop an ad blocker or will social media just be a fad?

My view is to keep company interaction with audiences "social". Establish a brand , image, and personality that people will want to be a part of. Sell your brand to people and not just target markets. There has to be a communal feeling around your brand that people will feel inclined to join. If it is too "commercial" or "corporate" I feel that people will not trust what you have to say. The social and personal aspect must be there if you want to sway audiences opinions and preferences.

Social media interaction should be like trading basketball cards when you were a kid. When you traded cards you wanted to feel good afterwards, you wanted an" even trade," not to get screwed over. When you traded Derek Jeter for Randy Johnson , everybody was happy, but when you decided to trade Barry Bonds for Roger Clemens...not so happy. The same is true with social media, everyone should benefit somehow from your conversations and brand and in return you should receive positive PR, word of mouth buzz, and profits. If your company wants to reach out, then do it personally. Your messages should show that you are just as interested in your audiences' lives as their pockets.

If you can build a community and following of loyal people through your interactions, then you have created a foundation for new customers. Do not give people a reason to block you out because of your company's impersonal and intangible image. Establish a voice that people will connect, and listen to. Then listen to them instead of just talking and hoping someone hears you! Use the "social" in social media to establish your brands. Listen to your audiences and remember its like trading baseball cards...

Tuesday, May 19, 2009

"The Race" Continues

Lately the value of social media has gone up and every marketing company, advertising agency, application developer and their mom is trying to figure out a formula to monetize this medium. Facebook has recently seen the power of applications create nearly as much revenue as the site itself. I recently received an email from the Milwaukee Brewers to download their banner application for a chance to win prizes. This new trend of advertising, marketing, and engagement is developing exponentially. 

The social media community is scrambling to discover their right formula to monetize these sites and applications. There are many "pioneers" who claim they have found the secret, but it remains to see if longevity and consistency are possible. As a I browsed some posts from today I came across one that claimed the "hottest new app. for Twitter" so I visited the site. I came across a software application called Hummingbird. This creative tool boasted that it was the "best app" and is for the "big dogs." As I read through the details of the site I quickly realized how far from my reality of Twitter it was. 

I was introduced to Twitter by my sister who is a marketer in Chicago. She explained Twitter etiquette to me and I have used her advice. I have tried to develop actual connections with people by pursuing those with common interests, sharing my knowledge, connecting on a human level, listening to their views and opinions, connecting on a individual basis, and maintain my relationship with them. A site like this talks about doubling followers, becoming the most followed, and entering the "Twitter Elite." While all these things sound great and will probably boost sales or site hits; what about your connections, contacts, and friends? 

The site says "what is it worth to be able to time-warp past years of network building and become a Twitter Elite in a matter of days." In my opinion it is not worth the friends I have made, the people that I have meet face to face and shared our experiences, Tweeple that wish you good luck on finals despite the fact you have never met, or the friendly liquor store owner that tweets about how much time left until you cannot buy liquor in Milwaukee. I truly disagree with the statement that the more followers you have, the more credible and authoritative you are. You are credible when people see that there is an actual person and human connection with all of their followers. 

Social media is not about number of followers or becoming a "Big Dog," it is about having a meaningful, and personal presence in your networks. I hope that as we move forward and explore the possibilities of monetizing social media we remember what brought us here in the first place. Keep your identity! 

Saturday, May 16, 2009

Social Media

I have decided to focus my blogging on current trends in social media. Technology is drastically changing the way we are able to block out messages from advertisers and everyone is trying to find a direct line to their target market . People want more of a connection and a personal aspect to messages. The power of social media for advertisers and companies comes from their ability to have a tangible and human presence that people are able to CONNECT with. I was skeptical at first, but the revolution of how powerful social media is becoming was apparent when viewers could "tweet" with the contestants of Miss USA! 

Now I have read on creativity.com about the Terminator Salvation using Twitter (@resistance2018) in conjunction with its website to have a game that allows participants to complete trivia to gain points towards prizes. It is interesting to see how popular this will be and the Twitter account already has over 2500 followers. I think that if enough attention is drawn to this effort it will generate a lot of buzz and positive publicity for the new movie. 

If this campaign works it will begin another chapter in social media's evolution. More and more companies will be fusing these types of advertising tactics to give the audience direct interaction and empower them to choose their brand over others. the benefits of the traffic this would create to websites and possibly stores would be crucial for brands searching for an edge.