Posts Tagged ‘Social Media’

April 13th, 2010

What is Social Media?

We’re often asked to define social media either directly (what is social media?) or indirectly (we need a social media strategy), so I thought I’d provide a list of the key platforms that make up what we call “social media”:

  1. Article directories that publish original user generated content (UGC).
  2. Blogs that feature original content and allow comment from users.
  3. Blog aggregators like Technorati that allow members to bookmark, tag, syndicate and recommend blog content to other people.
  4. File sharing sites with community and comment functions like YouTube and Flickr.
  5. Forums that allow users to post within a special interest community such as Crackberry.com for Blackberry users.
  6. Microblogging sites like Twitter and all associated sites like Tweetdeck that carry and syndicate content to their users.
  7. Review sites for products and services (like Travelocity) that carry user generated content (UGC) and reviews.
  8. Social bookmarking sites like Delicious and Digg that allow tagging and tag sharing so that other people can explore the same tags.
  9. Social networking sites like Facebook and LinkedIn that allow communities to manifest themselves online.
  10. Wikis - online encyclopedias that can be edited by anyone - like Wikipedia

It’s worth noting that there are two critical components in social media, the 2 C’s: Content and Community. These are the two sides of the social media coin.

On the one side, content lies at the very heart of social media. Content populates all the components above, all of which would cease to exist without content. In the case of social media, content is often user generated (User Generated Content or UGC) as opposed to being generated by a professional publishing house.  If you are thinking social media in any way, you must be thinking content; without content there is no social media.

Community is the other aspect of social media.  Communities gather around people of similar types (alumni, workplace, school, product users etc) or common interests (stamp collecting, trainspotting, FX trading) in the same way that “birds of a feather flock together” in many other aspects of social sciences. Communities are also important because they create a demand for content as members seek opinions or seek to make their own views known. Without communities there would be less of the subtle “friction” that causes many types of content to be generated and consumed.

February 23rd, 2010

See how business can use Twitter

Whilst most of the social media world is theorising about “social media strategy”, it can pay to follow those who lead by example. Here are three links to three companies who are using Twitter to sell product to a defined community of customer/followers:

  1. Dell Outlet - see one of their twitter pages here - Dell have Stephanie@Dell offering customer support on their page
  2. Misco  - see their twitter page here - Misco have added a deal of the day to their background.
  3. Viking Direct - see their twitter page here

I think these are great uses of Twitter. Each company can add or remove offers by the second. On the basis that “birds of a feather flock together” it’s highly likely that these offers will be re-tweeted to friends of colleagues of each first generation follower.  Links can be tracked,  sales can be measured, sales ROI can be calculated. On that topic if you go to the Dell Outlet page you can see that it has 1.5m followers which makes it the 89th most popular page globally (twitterholic). That gives Dell more followers than Paris Hilton, Stephen Fry or Sarah Brown.

To cut a long story short the Dell Outlet page offers these things: Utility, Relevance, Value.  If you can’t score more than 7/10 on each of these three measures, and you’re not a celebrity, then you will struggle to make twitter work for your business.

December 11th, 2009

Visualise your Twitter Universe

twitter-friends-example3

Came across this - great fun. It delivers a visualisation of your twitter universe. Assuming you are tweeting of course.

Visualise your twitter universe here


May 3rd, 2009

60% of Twitter users duck out after one month: Why?

So Nielsen are reporting that around 60% of Twitter users effectively duck out after one month. To some this may come as a surprise, to others it is a logical function of the real usefulness, or utility, of Twitter. The higher a site’s utility, the higher its retention and vice versa. Let’s explore this in a bit more detail and in relation to Twitter.

One of the main drivers of social media growth is social exploration. People want know what all the buzz is about. Their motivation for this is simple; they don’t want to appear uninformed. The best way to get informed fast is to join in. What happens next depends very much on what kind of experience these new users have in the first month. Two factors operate here: First, if new users find tweeters with whom they have common interest and therefore potentially strong affiliations, they may follow that person and move into further usage. Secondly,  if they find individuals, particularly lost contacts, then they are likely to use Twitter to reconnect with them, but once the initial reconnection has been enabled there is no guarantee that it will remain the main platform of communication. This is likely to revert to the more traditional face to face meeting, phone calls or email.

But I think there are three further issues that dictate how Twitter is used. First is the actual utility of twittering. Second is managing the information overload that can suddenly come back to the enthusiastic follower. Third is the platform being used.  Let’s look at each one:

1. Utility: Utility is critical factor in the destinty of any web site because utility drives retention. So how strong is Twitter’s utility?  I see four areas of utility: First, utility is high if you are a member of a close knit community needing moment by moment short byte communication - like school kids or students. Second, if you’re naturally news-hungry and want a mental stimulus every couple of seconds, then Twitter can deliver it. Third, if you want to build and maintain a fan base, or get closer to it (from a technologically safe distance) by sharing what you are up to, then utility is high. And Fourth, you can announce yourself to potential new followers by announcing to them that you’re following them.  BIMA used this technique to attract my attention yesterday. All these areas provide  reasonable utility. But that may be about it.  If you’re not in one of these four groups, Twitter’s utility to you may be limited.

2. Information overload: You can fall into information overload fast with Twitter. If you chose to follow 100 Tweeters who are posting 5 tweets a day you are in line for 500 tweets a day. Even if you choose to follow just 10 tweeters posting 5 times a day, you’re still going to receive 50 tweets a day. All this becomes unmanageable very quickly and as it becomes unmanageable, its utility falls even further. The only way to counter this is to be very selective about who you follow.

3. Platform:  This is the big one that potentially changes everything. Mobile platforms make tweeting fast and easy. When you stand in a queue or on a bus, tube etc, have you noticed people looking at their phones seemingly waiting hoping and checking for social news.   These people need texts and tweets. And who are they? Almost invariably they are the under 24’s and at a push the under 35’s.  Young, information hungry communities wanting to share new information fast.  It all fits with meeting in bars, being late, missing the bus, running into a old friend. And all this activity doesn’t happen in front of a PC, it happens next to a mobile phone.

It’s been widely reported that the fastest growing social media user group is the over 35’s.  That growth may, in very broad terms, be explained by parents and managers simply wanting to find out what their kids and employees are up to. A kind delayed product diffusion. The Social Media ripple effect.

Of course there are those groups who will continue to find Twitter an interesting way to announce news. Within seconds of publishing this post it will have been short-linked by Twitterfeed and tweeted to all Teqtonic followers. That’s a utility that works for me.

PS. Nielsen’s article goes on to make interesting points around the relationship between retention rates and reach and how these factors are affecting Twitter compared to other social media networks. You can see the full Nielsen article here.

April 24th, 2009

Marketing strategy is in the bottle

smoothie_bottles_three_med1

I recently heard Richard Reed, one of the founders of Innocent Drinks remark that “ninety percent of their marketing strategy is in the bottle”. It does remind me that excellent products and services will often sell without the aid of any advertising or other paid for promotion at all. Google, Microsoft, Body Shop, Innocent and Yahoo! to name but a few built their brands without reliance on traditional advertising. Google went one step further and targeted its initial product diffusion across the academic sector knowing that it would be promoted by academics to students and so into the wider educated community. All all cases, these brands relied on a superior product experience to drive word of mouth promotion.

Some might say, well, they’re the lucky products, but for the rest of us, we have to fight to maintain our position in the market. They’d argue it’s not that their products are bad, it’s just that they have to complete with many similar products in the same market space.

But this is where we get into what Web 2.0 really means for marketers.  In the web enabled world everyone can review a product on either online retailer sites or on third party sites that encourage user review content. These sites are the territory where brands reputation will be built and lost.  In the world of Web 2.0 and beyond, the product takes centre stage. Promotion will no longer be provided by third party marketing communications alone, but through the distribution of user advocacy based on user experience.

The logical extension of this, and certainly my hope, is that renewed focus on product development will in turn drive the emergence of new and more effective products and services which benefit all whilst, in a Darwinian sense, weaker products and services are gradually marginalised out of consumer markets.


March 10th, 2009

A small step for Channel Four and a giant leap for TV?

So, Channel Four is to monetize its content on YouTube and Bebo by running pre-roll ads on their programme clips. This is interesting stuff. In a month when UK broadcasters have had to stomach some big doses of bad news, here is some light at the end of the tunnel. There’s a mutual raison d’etre here. Social media giants like YouTube have to find ways of monetising their content before investors start to lose patience and broadcasters like Channel Four need to find ways of monetizing their content before they fall even deeper into financial trouble.

The digital age is an age of partnerships where one time enemies can, and sometimes must, become friends. To succeed companies need to see old competitors as new companions. Rather than scrapping over content ownership and rights (another social media story today), it looks like Channel Four and YouTube are trying to make it work in the brave new world. Of course, this move won’t solve all Channel Four’s strategic and financial problems but it is the kind of creative thinking that’s going to be required to get broadcasters and social media platforms through these troubled times

On a separate but not unrelated point, it’s interesting to note that today ITV has announced it is parting company with its head of online revenue. Sometimes what these guys do behind the scenes is as interesting as the programmes they transmit.