What Marketing Execs Want From Social Media (Video)
Recently I had the pleasure of boarding the Norwegian Dawn Cruise Line in New York City with more than 100 marketing executives from some of the most prominent brands in the country. Although we were all on board for the purpose of networking and learning, I took on the challenge of uncovering the answer to the following question: “What would you like social media to do for your brand?”
Given The New Group’s deep practice in both digital brand management and social media marketing, I’m always watching to see how social media is evolving in the eyes of the brands we serve. Responses varied from “Everything” (from one marketer) to “I don’t know, that’s what I’m here to find out.” Others specifically noted wanting social media to create “a connection,” “an interactive conversation with customers,” better customer service, direct feedback and ultimately, loyalty. The bottom line is that executives seem to agree that social media has opened the door to being able to facilitate more authentic dialogue with their target audiences. Given this response, it’s not surprising that eMARKETER reported last week that “According to Heidrick & Struggles, the No. 1 focus for C-level executives in 2009 is the customer—acquiring new ones, increasing retention and improving their lifetime value, in that order": www.tinyurl.com/ra2hpv
The New Group advises that social media in and of itself is not the answer. The answer lies in the ability to know enough about your customers to understand how they like to consume information, be it socially, or from another digital or offline channel. TNG’s persona development process unearths these unique audience insights, which are then used in the agencies’ proprietary media/scenario mapping process called “Dialogue Architecture.” Clients who engage with TNG comment that these processes make them smarter marketers and that they save in their marketing expenditure by being significantly more targeted in their approach.
What Marketing Execs Want From Social Media from The New Group on Vimeo.
Steve Marshall is a 20+ year digital marketing veteran and President of The New Group, a digital marketing agency based in Portland, Oregon. 503.248.4505
Comments
well done
Yup, well done. (FYI: Came to me via a tweet.) PL
Great video!
I see two groups in this montage. One group of execs that seems to see social media as another push channel giving them a new opportunity to broadcast their "brand" to their customers (which is ironic since customers certainly own the brand). The other group embraces the idea of participating in more intimate and authentic conversations with their customers. A dialogue where they truly want to listen and learn from their customers about how they can be better.
The mindset of the first group, unfortunately, seems to be shared by a majority of marketing folks right now and they'll most likely be throwing their money away if they take this approach. The other group, of course, will be most successful at acquiring and retaining customers and improving lifetime value especially in these brutal economic times.
Agreed
I completely agree, Mark. Old school marketers are still trying to hold on to the idea that their "branding" flows from the top of the organization, down to it's audience. The real conversation is happening at the bottom and the best a company can do is participate in it. Marketers have to embrace their community and the conversation or they are going to lose any sense of their brand.
Great Experience
Mark, recently I've had yet another chance to interview a group of marketing exec's on the same topic and your comments still ring true. What I hear from them is that they know that what their companies are used to doing, "broadcasting their brand" doesn't work but its still very difficut for them to make the shift into sincere dialogue. Comments range from; "the c-level team doesn't yet understand what this means or what it takes", to "we're vested in so many different marketing channels that we just don't have the time or resources to overly fixate on social media. Our approach is going to have to rely on small tests so we can determine how best to support our traditional initiatives".
It makes me wonder if new(er) brands, ie., Zappos that were built on the premise of customer service, lead by transparent and authentic conversation may be at a distinct advantage. History shows us that established brands that don't react quick enough will soon find mindshare and marketshare in the hands of the competition.
Interesting
One or two people had something specific and tangible in mind but the vast majority of your interviewees seemed relatively clueless. Social media is simply another communication tool in the marketers arsenal. It is not magic and it is not a silver bullet. It's reach is limited and it's utility is limited. But that's no different than any other marketing tool. They all must be used in conjunction with one another to optimize your communications program.
Agreed
I agree with you, DLenehan. It's important to understand that social networking and media is but ONE channel, but that channel can have the most direct contact with engaged customers. Any business considering social media should think about their goals and objectives, who they are as a company and how that should be communicated, and what their level of commitment to social media is going to be. The last thing you want to do is open that channel up and then not actually participate. It'd be like installing a customer service phone line but then never answering it when it rings!
Great comments here. Thanks!
Everything 2.0 - companies can do it with proper strategy, tools
Great video- especially the punch line. But really, everything? They want- and you hope to provide - "everything" on social networks for companies? Hmm, seems like a very tall order and a grand plan.
Your caveat that SocNets are not a Silver Bullet, is of course correct. But the customer's request is not unreasonable, either. Many, if not most, of corporate ventures into the internet (1&2.0) have failed miserably. Companies have spent tons of money on proprietary web sites and online advertising, with not much to show for their investment. Spikes in sales, perhaps, but not a lot in terms of long term brand equity or customer loyalty.
In truth, most corporate web sites and promotions fail to even provide ONE service very well, be it sales, support or marketing. Their online campaigns- whether on TV, Google or Facebook- either try to do all things (poorly) or focus on one thing- pointing the customer to the company's dysfunctional web site, defeating the purpose of their investment on the campaign.
To build brand equity and strengthen customer loyalty, perhaps you DO have to provide EVERYTHING- or at least two or three things very well. Coffee is good, but AT&T free WiFi with your latte at Starbuck's is a whole lot better. An ad that leads to a coupon is great, but a single click that leads to a customer for life is the real Holy Grail.
How to provide everything? Nobody knows yet, but some of the points are rather basic:
1) Reach customers on all THEIR chosen platforms, FB, Twitter, etc.
2) Give customers services or products at a discount or, better yet, for FREE. (In advance of purchase or registration, preferrably.)
3) Add value to the customer's interaction with the company by offering (two or more) real services / functions that customers will come back to use on a regular basis.
SocNet multi-platform is a challenge, but a plucky startup by the name of Posterious seems to have cracked the challenge of "one send - all update" compatible with most networks and formats.
"Give first, charge later" is the most successful sales & marketing tool in the history of commerce. Loans, credit cards and "no payment & no interest" plans deliver the products and services to customers immediately- their satisfaction assures the payment at a later date. Companies and websites that put up a barrier to a discount lose a potential customer- those that make it easy to "try, then buy" usually have a better return on sales. (For example, MySQL- zero to a half billion dollars is a pretty good gain.)
The "everything" part is the biggest challenge. Consumers and businesses struggle with the "dedicated vs. multifunction" dilemma every day. Do you want to carry an iPod, a Blackberry and a high res digital camera - or do you want all three in a single device? Sometimes it is a no brainer (all three are trying to incorporate all those functions on their platforms) but often it is harder to justify the compromises that are inherent in such "single source" solutions.
On the web, people have been reluctant to accept the lower functionality of packaged offerings, opting to keep bookmarks to their favorite sites which offer different functions / services. Wireless access with your Big Mac at McDonald's is wonderful, but not many people will change their home email address, access or home page to ronald@mcdonalds.com... For companies to offer loyalty programs on the web, they must embrace the social network sites, not try to replace them. Google and Ning Networks now offer "suites" of web 2.0 applications which tightly interface with MySpace, FB, etc., that companies can give away to their loyal customers.
Local and global business have an opportunity to do all three of the above. The patients and doctors of the community hospital can join, share, learn and exchange information together on a branded network offered for free from the hospital. From parents with special needs children to bikers with Harleys, there is a global community for Gerber and HD to foster using social networks in conjunction with more external, customer focused open platforms.
Kudos to TNG for understanding and promoting the future of branding across the social network!
Mike Beirne
MaidoAri - Network Public Relations
mike@maidoari.info
beirne.mike@gmail.com
1(408)595-1942
EVERYTHING...
Thanks, Mike. Great comments. Much like the comment in the video, at TNG we're finding that companies of all sizes wanting social media to do "EVERYTHING" for them isn't uncommon. We've really centered our focus on helping companies in their insights and planning process, culminating in TNG's ability to author social media marketing plans for them. We stress that venturing into the space without cementing goals and objectives in advance and preparing the organization for the responsibilities required is unwise at best. Done well, engaging in social media marketing can truly be liberating for a brand.
Great points, Mike. My
The punch line
Great video and consistent with those marketing executive I poll on social media. Deer-in-the-headlights, mostly. They all want to believe in Santa, that's why they are marketing executives.
The reality is that the most common sense uses, the deepest understanding and most creativity I have encountered seems to be coming from those without a marketing background. I find it interesting that the fastest growing communications channel ever wasn't inspired by or financed by marketers. It's a tool, a damn good one, but nonetheless, Twitter is just a communication channel.
Social media are more than facebook and Twitter. In fact, we have over 100 "tools" in our foodservice" tool box out of thousands. of the 100 we select from, only perhaps a dozen or so are used as tactics for any one client. What a client wants from social media should all be the same. It's how they get there is the key.
At fohboh.com, all we do is foodservice social media. One industry, a single focus, so perhaps this is easier than trying to boil the ocean with one solution. In any event, here is our protocol:
1. Start with behavior.
2. Create a strategy that meets current, even one key objective at a time, then course correct and add more objectives.
3. Strategy based on understanding brand and customer...see #1 above.
4. Build your tool box for a specific industry.
5. Select tools that can accelerate brand messaging.
6. Seek out your brand influencer's and make them brand ambassadors.
7. Engage in meaningful, helpful, non-solicitous conversations leading to syndicated good will.
8. Measure results using a wide array of web analytic tools.
9. Course correct.
10. Execute consistently and continuously, forever - repeat.
Cheers!
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