Social marketing: Influence the influencers
“In the future, the Web you know will be based on the Web that knows you.”
That sentence jumped out at me while reading a post titled “The Future of Marketing” by Todd Defren on his great blog, PR Squared. It states simply — and memorably — what many Web 2.0 thought leaders have been suggesting about the future of the social Web.
Defren writes:
“When we surf and when we search, beyond the Social Network sites, we’re going to be taking our Friends with us; we’re taking our known online activities with us. Sites and search engines will re-orient themselves dynamically to match our identities. The entire Web experience will re-architect itself on-the-fly based on where we’ve been, what device we’re using, what we’ve looked at or purchased in the past, who we are friends with, what offers and content our contacts have been sharing and purchasing, etc.”
What does this mean for small businesses, organizations and professionals? We’ll avoid a protracted discussion of Facebook Connect, Google Friend Connect, Open ID and what they all mean for the future of creating online identities. Read Defren’s full piece for his insights. My take:
First, it means businesses and professionals better be investing time in their social capital. Your business not on social media? The time is rapidly approaching when a company’s social identity online will far outweigh its Web site messages. Without a history of interacting with your customers online, your online identity will slip and customers will go elsewhere.
Second, it means targeted marketing will enter a whole new realm. How will companies reach specific audience segments? By trying to influence their influencers. Or, as Defren writes:
“We’ll become more sophisticated: we’ll be able to identify micro-influencers and influencers-of-influencers.”
In other words, as people increasingly turn to their friends and trusted online sources for recommendations on products or services, companies wanting to reach certain people will target . . . their friends and trusted online sources.
While we’re talking the near-future of marketing, it’s really a logical extension of what’s already happening in social networking. If you’re a professional trying to expand your reach, you can use LinkedIn or other social media to identify new leads and seek introductions through people you know.
Business has always been social, about connections with people. Business 2.0 is about using social media strategically to build digital connections, which in turn lead to personal relationships. And better business.
With apologies to Dale Carnegie, it’s no longer “How to Win Friends and Influence People.” In marketing, it’s becoming How to Influence People Through Their Friends.
‘No Surprises’: Radiohead understands social economy
A departure from the usual subject matter today, but I promise there is a connection to this space.
Thom Yorke, frontman for Radiohead, the Brit alt-rock music giant, told Believer magazine this week that the group will no longer produce full-length albums. Radiohead previously shook up the music industry by offering its last self-produced CD, “In Rainbows,” for fans to download at whatever price they wanted to pay. “In Rainbows” was available later at the normal fixed price, although still distributed outside the record companies.
OK, where’s the social media connection? Hold on. Radiohead has a huge and devoted following worldwide (Disclosure: Including me) and knew its fans would honor its pay-as-you-download model. Just last week, Yorke and Radiohead sidekick Jonny Greenwood released an anti-war homage to the last surviving British veteran of World War I. Ironically, the veteran died as the recording was being released. Again, sidestepping the music industry, the recording is available for download at Radiohead’s site for one British pound, with the proceeds going to the British Legion (which supports the families of Britain’s vets).
In earlier days Radiohead actually opposed offering individual songs for purchase through iTunes. However, it’s clear the band listened to fans then, and they are listening to their fans today. Rather than making fans wait forever for a full album, Radiohead will offer singles and EPs, undoubtedly providing more music (and more diverse music) in a much shorter time frame. That will be good for everyone. Especially their fans.
I understand this now after a couple hours of teeth-gnashing and actually tweeting that fans should prevail upon the group to change its course. Thom Yorke has a strong understanding of who his fans are and what they want. He also knows the industry has changed, and listeners don’t want to pay full price for CDs which often don’t deliver more than a couple good songs.
I wish the reclusive Yorke and his bandmates would step out of the social media shadows. (They do have their own fan social network through their site.) However, they seem to understand the new relationship economy better than most: Give more than you get. Pay attention to your audience. Be ready to try new things. Be willing to change course in the middle of trying new things.
We’ll see if Radiohead’s model will work. I suspect many others will eventually follow it. Not a bad idea, actually.
(For non-Radiohead fans, “No Surprises” in the headline refers to one of their songs.)
Your future depends on social media
Jim Keenan’s blog is called A Sales Guy. I keep coming back to his May post titled “Online Presence — Asset of the Future: Why Your Social Graph Will Be Worth as Much as Your Home.” Actually, he does suggest your house could be worth more. (Thought: If the real estate market ever recovers!). Jim writes, more as a futurist than salesman:
“In the not to distant future, a baseline online social presence will be required for the most common of life’s exercises, like getting a job. In the future, if you don’t have some semblance of an online presence you won’t even be considered for the job. If employers, or recruiters can’t learn about you online, through your social graph, they won’t be interested. I expect online vetting of dates, baby sitters, potential employees, etc. will only increase. Having an online social presence will be the required price to play.”
Jim paints a future in which failure or success correlates to your reach or influence through social media. It doesn’t sound all that far-fetched to me. Look at the success already of people such as Guy Kawasaki or Chris Brogan in recognizing the power of social media. Where would they be without social media?
Jim suggests “investing” now in your social capital. I completely agree. Unlike Wall Street, this is one market that requires your investment. Otherwise, what will your future look like?
