While studying for our midterm my friend showed me this video... it made my day!
Check it out!
Love,
Tarah
Thursday, April 28, 2011
Tuesday, April 26, 2011
Socialnomics Ch.5-10
Ch.5 I care more about what my neighbors think than what Google thinks.
Social media have been so popular mainly because people can update their status- where they are, what they are doing, or how they are feeling right now. Even though I sometimes do not like this feature if there are too many unnecessary updates, I like it because it saves time as previously mentioned in the earlier chapters.
I found myself in the example of Steve buying the right car seat. Steve in the book is me! I almost always read people’s reviews before I purchase something. Even if I do not plan to buy particular things, I still look for what people think about the products for future references. This saves me from buying not great products, money, and time for searching for good products.
Much of this chapter is about the increasing use of ebook readers such as iPad, Kindle, tablets, etc. I like how the author addresses both the benefits and drawbacks and limits of ebook readers. I like the idea of these electronic readers but I still prefer paperbacks. If I have something to read for classes, I print it out and read. I like the feeling of flipping each page and paper. Reading paperbacks also brings me memories of going to library and read books with the smell of library books. Ebook readers can be portable and convenient but it does not appeal that much to me yet.
Ch.6 Death of Social Schizophrenia
The author talks about websites like Amazon having “People who purchased this product also purchased others” sections for customers to see what others are buying. This way, we can see other people’s buying pattern and save time by not typing again to look for more products. I enjoy watching YouTube “Haul” videos where people just talk about what they just purchased and what they think of them. It is really fun to see what other girls like me are buying and I can also see what is “in” now.
Ch.7 Winners and Losers in a 140-chractoer world
The example of Rick Sanchez, SNN anchor, shows how he can be closer with people like me and how I can contribute to major media stream. I think what makes socialnomic winners and losers is that if the companies have the users/ customers who are willing to help connect the dots.
Qualman talks about how many people are shifting from paying for cable channels to watching online. I do not own a TV so I watch TV programs online. My favorite shows are Top Chef and America’s Next Top Model. I watch them on YouTube because it is free and some videos have HD quality. Even though I am forced to watch commercials before watching the actual videos, I can wait as I know when the shows will be back on and it is free!
Ch.8 Next steps for companies and the “Glass house generation”
Social media has “Power to the people”; it shapes how we behave, live, and work. We are the “glass house generation” as our privacy is not entirely protected and we are “watched.” On Facebook, we can tag ourselves and our friends so that we can share pictures. As “tagging is a huge driver of transparency” and being able to see social status updates, we now got the ability to see what they think about anything and everything.
Ch.9 Social Media Rolodex and resources
I find this chapter very helpful as there are social media people and resources.
I particularly like this sentence by Steve Kaufer, the CEO of TripAdvisor, “If you aren’t constantly evolving along with your customers you will be doomed to fail.” It kind of summarizes what companies must do to survive in this socialnomic world. If they do not meet with customers’ needs, they are losers.
Social media have been so popular mainly because people can update their status- where they are, what they are doing, or how they are feeling right now. Even though I sometimes do not like this feature if there are too many unnecessary updates, I like it because it saves time as previously mentioned in the earlier chapters.
I found myself in the example of Steve buying the right car seat. Steve in the book is me! I almost always read people’s reviews before I purchase something. Even if I do not plan to buy particular things, I still look for what people think about the products for future references. This saves me from buying not great products, money, and time for searching for good products.
Much of this chapter is about the increasing use of ebook readers such as iPad, Kindle, tablets, etc. I like how the author addresses both the benefits and drawbacks and limits of ebook readers. I like the idea of these electronic readers but I still prefer paperbacks. If I have something to read for classes, I print it out and read. I like the feeling of flipping each page and paper. Reading paperbacks also brings me memories of going to library and read books with the smell of library books. Ebook readers can be portable and convenient but it does not appeal that much to me yet.
Ch.6 Death of Social Schizophrenia
The author talks about websites like Amazon having “People who purchased this product also purchased others” sections for customers to see what others are buying. This way, we can see other people’s buying pattern and save time by not typing again to look for more products. I enjoy watching YouTube “Haul” videos where people just talk about what they just purchased and what they think of them. It is really fun to see what other girls like me are buying and I can also see what is “in” now.
Ch.7 Winners and Losers in a 140-chractoer world
The example of Rick Sanchez, SNN anchor, shows how he can be closer with people like me and how I can contribute to major media stream. I think what makes socialnomic winners and losers is that if the companies have the users/ customers who are willing to help connect the dots.
Qualman talks about how many people are shifting from paying for cable channels to watching online. I do not own a TV so I watch TV programs online. My favorite shows are Top Chef and America’s Next Top Model. I watch them on YouTube because it is free and some videos have HD quality. Even though I am forced to watch commercials before watching the actual videos, I can wait as I know when the shows will be back on and it is free!
Ch.8 Next steps for companies and the “Glass house generation”
Social media has “Power to the people”; it shapes how we behave, live, and work. We are the “glass house generation” as our privacy is not entirely protected and we are “watched.” On Facebook, we can tag ourselves and our friends so that we can share pictures. As “tagging is a huge driver of transparency” and being able to see social status updates, we now got the ability to see what they think about anything and everything.
Ch.9 Social Media Rolodex and resources
I find this chapter very helpful as there are social media people and resources.
I particularly like this sentence by Steve Kaufer, the CEO of TripAdvisor, “If you aren’t constantly evolving along with your customers you will be doomed to fail.” It kind of summarizes what companies must do to survive in this socialnomic world. If they do not meet with customers’ needs, they are losers.
Final Part of Socialnomics
Hey Everyone!
So I really enjoyed the last half of Socialnomics, mostly because I was introduced to some examples and ideas that I had never heard of before. First, a couple of mistakes that ESPN made online-dead air opportunities and hearing the announcer. Although these both seem like simple mistakes that could have been avoided, there is so much thought that goes into broadcasting something over the internet, and sometimes these opportunites can get overlooked. During time-outs, a short 30 second ad clip can be shown. Or, like hulu for example, you can play commercials that people can give feedback as to whether or not the advertisement is relavent to them, creating feedback to provide better suited ads in the future.
I also like how it talked about how social media helps get rid of social-skitsophrenia. Before the blow up of social media, people could be different people in different parts of their lives. Now that almost every person has a camera or video recorder on them at all times, anything can be documented and things stay documented. It is much harder to hide who you are in different situations because your actions can be documented and seen by anyone if posted on a social media forum. I like this concept because it brings honesty and truth to people who I feel sometimes get away with being really fake. It also prompts businesses to always be honest and upfront, which helps instill more trust in consumers.
Finally, I liked the "wolf and heard of sheep" example they gave towards the end of the book. It really reflects what will happen to a company's consumers if the company doesnt get involved and commit to social media. Either the heard of sheep will get lost (the consumers) and not fully understand the great new product or buzz-worthy subject, or they will get eaten by the wolf (the competition). Either way it shows that it is always best to get involved in the conversation, give feedback, and really listen to what consumers are saying. How can you be a shepherd to your flock if can't see where they are coming from.
Until Next Time,
Rache
So I really enjoyed the last half of Socialnomics, mostly because I was introduced to some examples and ideas that I had never heard of before. First, a couple of mistakes that ESPN made online-dead air opportunities and hearing the announcer. Although these both seem like simple mistakes that could have been avoided, there is so much thought that goes into broadcasting something over the internet, and sometimes these opportunites can get overlooked. During time-outs, a short 30 second ad clip can be shown. Or, like hulu for example, you can play commercials that people can give feedback as to whether or not the advertisement is relavent to them, creating feedback to provide better suited ads in the future.
I also like how it talked about how social media helps get rid of social-skitsophrenia. Before the blow up of social media, people could be different people in different parts of their lives. Now that almost every person has a camera or video recorder on them at all times, anything can be documented and things stay documented. It is much harder to hide who you are in different situations because your actions can be documented and seen by anyone if posted on a social media forum. I like this concept because it brings honesty and truth to people who I feel sometimes get away with being really fake. It also prompts businesses to always be honest and upfront, which helps instill more trust in consumers.
Finally, I liked the "wolf and heard of sheep" example they gave towards the end of the book. It really reflects what will happen to a company's consumers if the company doesnt get involved and commit to social media. Either the heard of sheep will get lost (the consumers) and not fully understand the great new product or buzz-worthy subject, or they will get eaten by the wolf (the competition). Either way it shows that it is always best to get involved in the conversation, give feedback, and really listen to what consumers are saying. How can you be a shepherd to your flock if can't see where they are coming from.
Until Next Time,
Rache
Socialnomics--tail-end 4/26/11
In today’s sound bite world many blog postings limit a post to a maximum of 140 characters. It is essential for companies website URLS to be shortened to be successful in a world of hyper accelerated and condensed media outlet. Everybody wants his or her fifteen minutes of fame. CNN anchor does a great job of posting about his interviews coming up and takes input from fans about what questions to ask the interviewee. This keeps his 75,000 fans engaged and they feel that they are helping produce the show, which in a way they are. Because social media lends itself to unobtrusive advertising, that advertising is effective. “In a 2008 survey… 76 percent of the 1,006 people surveye3d said they didn’t mind ads when they logged-in to Face book..and 40 percent said they made purchases after seeing those ads”.
When you post a blog or something about your company on social media it is important to follow the five pillars. Before writing a post you need to know what you are doing, where you are doing it, why you are doing it, what success looks like and what potential pitfalls you may encounter. A new program has been set out by Microsoft called the Bing cash back program. Microsoft announced it would be giving cash back to people who use Bing and subsequently click-through and make a purchase. Money that was previously dispersed to middlemen is now being redistributed to the companies themselves and to the consumers. A unique way to look at advertisements and search engines is advertisers spend money based on actual return-a sale being completed. Whereas search engines receive a percentage of revenue derived and searchers receive a discount or cash back.
Just as the one-way messaging strategy of advertisers is no longer viable in this new age, it no longer works for employers either. Millennial are used to and want collaboration, but they will not necessarily acknowledge or adhere to traditional lines of authority or chains of command. Soon, many baby boomers in executive level positions will retire, and there will be an intense talent fight between companies. Companies can give themselves an advantage by understanding that this new talent has different attitudes, expectations, and skills than the previous generations. By using social media tools during the recruitment process, companies have a better chance of maintaining talent because its more likely to help put the right person in the right position. However, an employer’s work is just beginning when they hire someone.
-Tim McCauley
Points & Commentary on the 2nd Half of Socialnomics
"Social media is helping to drive the transformation of mobile devices to being the dominant Internet access point instead of computers."
M-commerce is the step above and beyond e-commerce. After attending my senior synthesis management course this afternoon, I can't help but think about red vs. blue ocean strategies. I see m-commerce as something that isn't fully accepted by the public yet, but is an idea that is not fully being entertained by businesses and industries in general. There is huge opportunity for someone to take the lead and create a blue ocean strategy around m-commerce that creates a new market, valuable innovation, and satisfies a need untouched by anyone else.
"Just as marketing will become more referral based as a result of rapid information exchanges enabled by social media tools, job seeking and recruitment will be more referral based than ever before."
This point stood out to me because it is the truth! As I am approaching graduation I see this playing out in my search for a job. With a ridiculous number of applicants applying for the same position, it seems impossible to get through. You're lucky if the computer programs deem your resume worthy, and you're even luckier if you get a phone call, e-mail, or any recognition after that. Today it's all about your network... connections! What happens if you don't have any connections? Well, in the wise words of Erik Qualman, you need to "proactively build your digital business network before you need it." So stop reading this and get to work! ;-) Go to LinkedIn.com - it's the place to be for growing those connections and looking for work.
Otherwise, if you need a little motivation and encouragement you should watch this video:
M-commerce is the step above and beyond e-commerce. After attending my senior synthesis management course this afternoon, I can't help but think about red vs. blue ocean strategies. I see m-commerce as something that isn't fully accepted by the public yet, but is an idea that is not fully being entertained by businesses and industries in general. There is huge opportunity for someone to take the lead and create a blue ocean strategy around m-commerce that creates a new market, valuable innovation, and satisfies a need untouched by anyone else.
"Just as marketing will become more referral based as a result of rapid information exchanges enabled by social media tools, job seeking and recruitment will be more referral based than ever before."
This point stood out to me because it is the truth! As I am approaching graduation I see this playing out in my search for a job. With a ridiculous number of applicants applying for the same position, it seems impossible to get through. You're lucky if the computer programs deem your resume worthy, and you're even luckier if you get a phone call, e-mail, or any recognition after that. Today it's all about your network... connections! What happens if you don't have any connections? Well, in the wise words of Erik Qualman, you need to "proactively build your digital business network before you need it." So stop reading this and get to work! ;-) Go to LinkedIn.com - it's the place to be for growing those connections and looking for work.
Otherwise, if you need a little motivation and encouragement you should watch this video:
"Fail forward, fail fast, fail better."
It's scary to think that failing is an acceptable part of life, especially on a platform that is open and accessible by so many people. I mean, who wants to publicly fail? This statement seems to be more applicable to businesses because if you refer to my second point about employment and connections, I'm not sure failure (even if it's fast and forward) is really going to do someone much good. More importantly, as the younger generation fails to improve their communication and interpersonal skills due to their dependence on distant text-oriented modes of communication their failures in the future may be fast, but they also may be hard and irreversible. Can that kind of failure be a good thing?
On the other hand, this kind of failing may be the right kind:
Socialnomics Ch 6 to 10
The Evolution of Marketers
Being a marketers, we have to understand the new way of marketing and keep ourselves updated and follow the pace or even go beyond others in order to succeed. Traditionally, markers' jobs were to creat advertising campaigns and push them to the public and inform that to people. However, if we keep this traditional way of marketing, we are more likely to be kick out of this competitve business world. Nowadays, a sucessful marketers should be able to perform the traditional way of marketing and more importantly should be engaged and interact mroe with their customers by listening their feedbacks.
The driving to this evolution
Nowadays consumers are looking to peers for recommendations on products and services. According to the books, today 78 percent rely on what others say, while 14 percent rely on advertisng. Information are shared transparently through social media nowadays. And the younger generation are now rely heavily on social media. That means social media are skiptically important for companies to market their products. Companies now don't have any choice in whether participating in social media or not, they need to dig deep on how well they are doing it. Even if you make mistakes regarding to engaging in socail media, it's way better to stand alone and doing nothing.
Four simple steps to social media
Social media is all about interaction and interpersonal relationship between you and your target buys or audience. In order to have it functioning well, there are four simpke steps as described in the book. First, listen to your customer and conversations around your brand. Then the customers will interact with the new product and services which you provide. Thirdly, after the interaction, be ready to observe and collect the customer reaction and feedbacks from his or her experience. Finally analyse for wether their reaction is favorable or unfaborable and make ammendment according to their reaction right away.
Being a marketers, we have to understand the new way of marketing and keep ourselves updated and follow the pace or even go beyond others in order to succeed. Traditionally, markers' jobs were to creat advertising campaigns and push them to the public and inform that to people. However, if we keep this traditional way of marketing, we are more likely to be kick out of this competitve business world. Nowadays, a sucessful marketers should be able to perform the traditional way of marketing and more importantly should be engaged and interact mroe with their customers by listening their feedbacks.
The driving to this evolution
Nowadays consumers are looking to peers for recommendations on products and services. According to the books, today 78 percent rely on what others say, while 14 percent rely on advertisng. Information are shared transparently through social media nowadays. And the younger generation are now rely heavily on social media. That means social media are skiptically important for companies to market their products. Companies now don't have any choice in whether participating in social media or not, they need to dig deep on how well they are doing it. Even if you make mistakes regarding to engaging in socail media, it's way better to stand alone and doing nothing.
Four simple steps to social media
Social media is all about interaction and interpersonal relationship between you and your target buys or audience. In order to have it functioning well, there are four simpke steps as described in the book. First, listen to your customer and conversations around your brand. Then the customers will interact with the new product and services which you provide. Thirdly, after the interaction, be ready to observe and collect the customer reaction and feedbacks from his or her experience. Finally analyse for wether their reaction is favorable or unfaborable and make ammendment according to their reaction right away.
Socialnomics
What My Neighbor Thinks
The importance of "What my neighbor thinks" is common among many people today. I think that the idea of knowing the opinion of someone who's tried a product or service is comforting in the sense that it's as though we tried the product or service before even purchasing it. This reminds me of the term people use everyday, "Google it". With just the click of a button there is your answer, just like when you ask for your neighbor's opinion. This opinion or review, whether that of your neighbors or Google, it's one in which people value. This value of other's opinions being something that many people in our society care about, makes me wonder if it's more important than simply creating one of your own?
Work & Party Personality
The thought of "Work" & "Party" personalities becoming transparent was something that struck my eye. I've always believed that their should be a barrier between your work life and your party life, it's something I was taught growing up. I've always found it to be more professional having such a barrier, and now, it seems as though this separation between the two will become extinct in the near future. I find a lack of separation can be either good or bad depending on how it's handled, I just wonder if our society, let alone companies, are ready to adapt this one essence.
The Production of Great
I couldn't agree any more with the idea of being "great". In chapter 6, it is said that "the social graph is the world's largest and most powerful referral program", and this statement is one in which makes social media great. The discussion of great products and services rather than simply great messages demonstrates to me that social media is powerful in itself, but these great messages are not as powerful if there is not a production of great products and services. So for a company to "win" in our Socialnomic world, they must be able to deliver a great message along side a great product.
The importance of "What my neighbor thinks" is common among many people today. I think that the idea of knowing the opinion of someone who's tried a product or service is comforting in the sense that it's as though we tried the product or service before even purchasing it. This reminds me of the term people use everyday, "Google it". With just the click of a button there is your answer, just like when you ask for your neighbor's opinion. This opinion or review, whether that of your neighbors or Google, it's one in which people value. This value of other's opinions being something that many people in our society care about, makes me wonder if it's more important than simply creating one of your own?
Work & Party Personality
The thought of "Work" & "Party" personalities becoming transparent was something that struck my eye. I've always believed that their should be a barrier between your work life and your party life, it's something I was taught growing up. I've always found it to be more professional having such a barrier, and now, it seems as though this separation between the two will become extinct in the near future. I find a lack of separation can be either good or bad depending on how it's handled, I just wonder if our society, let alone companies, are ready to adapt this one essence.
The Production of Great
I couldn't agree any more with the idea of being "great". In chapter 6, it is said that "the social graph is the world's largest and most powerful referral program", and this statement is one in which makes social media great. The discussion of great products and services rather than simply great messages demonstrates to me that social media is powerful in itself, but these great messages are not as powerful if there is not a production of great products and services. So for a company to "win" in our Socialnomic world, they must be able to deliver a great message along side a great product.
Social nomics, Part II
Social media is a strong medium and influence. The first thing to utilize the social media is to make people act. Social media can be regarded as an equivalent society as the one we are living in now. We talk, see, read, listen, and walk there. But the question is how we can make people act. If people are just sitting there and watch, nothing will happen. So the next step is to trigger people’s desire and call the actions.
Referral Program
It is a very efficiently internal marketing strategy, and Amazon and other online marketplaces use it to reduce the waste of resource. The key concept is to statistically collect your purchasing behavior and accurately suggest you the items that you may be interested in. Instead of throw a lot of marketing information to you, why not let us choose for you? In this way, customers do not need to go through a bunch of unnecessary information and can still get what they want. Safeway records every transaction to analyze what you may be interested in and print out the coupons to you in cashier counters. If we use this concept to social media, information receivers will be able to follow the main trends. Somehow it will be not only easier for marketers to control the sales, but also relatively benefits customers. While marketers figure out that customers are usually purchase product A and B together, the marketers may provide more promotional activities.
Content and Conversation, Not Advertising
When I was reading this section, I was thinking what kinds of advertising do not look like advertising. And suddenly something get my attention. How about creating a story? Similar to Tom & Jerry, Pink Panther, Pocket Monster, or some other cartoons. If we can connect every short episode / commercial together, it will make desires to the audiences. While people are waiting for the next coming up, they will pay more attention. Thinking about this, which conversation last longer while introducing a new product to your friends? By telling them the features of products or by discussing the interesting story of the product?
Socialnomics 2nd part.
Three things that I am most interested about when reading the last four chapters are:
Social media vs. search engine. In chapter 5, Qualman said that searching for information in people's own network will save ton of time and get more valuable idea than doing it through the search engine such as Google, Yahoo, Youtube,... Is this the new coming shift in the way people search for information, I am wondering? In recent years, people use search engine more than anything else to search for ideas, or products. But based on what Qualman says, can we expect a new trend of searching for information will arrive in near future? If yes, this new trend can make social media become even more powerful in the future, not only the way people communicate and keep in touch but the way people look for information and the way to influence people's life style in the future as well.
Jared, Subway and Opportunity. Also, in chapter 5, the example about Jared and Subway is a good example of how customers has influence to the companies nowadays. Not only this but the example about three travel companies develop their online applications helps to demonstrate this idea as well. A company which doesn't know how to listen to its customers and value their ideas could lose their potential market to a competitor who is better in value and follow customers' wants. It is true today in out time and essential to keep the business running well.
Marketing's Philosophy. Look at the differences between Marketing's philosophy yesterday and today, majority of the differences come from how businesses think about their customers. In the past, businesses think customers doesn't know anything and so their jobs is leading customers to what they need. Nowadays, customers are the leaders, businesses need to follow the customers so customers can lead them to what make them successful and outstanding compare with other businesses. Therefore, some of the traditional marketing theory can not be apply in this new environment.
Socialnomics Ch 6 -10
Google & Social Media
In these days, whenever people have any questions or need some information’s, they usually get online and “Google it! “ However, Google’s large data base become less creditable compare to social media. “People care more about what their friends and peers believe is the best Italian restaurant in Manhattan then what Google thinks” by Eric Qualman and I totally agree with it. Social media provide people’s experiences and opinions to increase others interest and trust.
Social Media ROI
Currently, companies still wonder how to measure social media ROI correctly. Is it true that there will never have correct number for social media ROI. Eric Qualman claims that the simplest answer is: “The ROI of social media is that in five year your company still exists.” There are many companies not using social media because there isn't any ROI. However, they might miss a huge communication via social media to their current and feature customers. In my opinion, companies should not use social media because other competitors do. But if the companies decide to use social media, do it well and keep update all the time. Otherwise, social media will not help your brand at all.
After finish reading this book, I really think that social media is the new trend to everyone. In today’s digital environment, human are not rely on basic data base. “We” are the writers and directors programming our own data and voice. I believed after couple more years, social media will impact us in many different levels to our life.
Blog #9 – Socialnomics [Chapter 5 thru End]
A recurring theme in this book is the new founded aspect of social justice. Social media is making the business world a better place. Consumers are gaining power and taking their rightful place as the focal point whose needs should be tended to by companies and not the other way around. If your business is rude or not worthy of praise, it isn’t going to get it. Instead, it’s going to be made known that people shouldn’t give you their business. People trust each other because we all have the same basic wants in common. We want respect; we don’t want to be taken as fools. Businesses that are socially responsible and have the right mindsets will accordingly receive rave reviews. Businesses that are filled with deceit are going to start to struggle to keep their heads above water.
What’s going on here is a movement towards the way things should actually be. The consumer as a person, not their wallet, should be the most important to companies. If we don’t feel special there’s nothing to keep us from giving our business to organizations that put forth that bit of extra effort. The bare minimum is not going to fly anymore. A lot of businesses are going to have to undergo complete transformations because, thanks to the internet, we now literally have a world of opportunities that we can choose from. The competition is getting fierce and customers are the prize. Each patron is a privilege bestowed to a company in return for amazing customer service – therefore, we need to be earned. Those that conduct business honestly and aim to please customers above all else will ultimately benefit.
It’s going to become increasingly hard to hide dirty little secrets from the clientele. People will forgive for past mistakes if the wrongdoers are truly sorry but people can also dole out punishment. So players wise up and jump on the social media train. Don’t try to hid things, disclose everything. Conduct your business the way you should and things will be easier on us all. The objective isn’t making a profit anymore, it’s making an impact. Keep it clean folks or fall out of the loop.
Socialnomics Part 2
I've always loved the modern technology debate: Whether or not things like the internet and advanced technologies benefits people. On one side, technology helps us to broaden our range of relationships and makes us more efficient people, and on the other it dampens our connection to our current environment and the people that surround us. It has always been an interesting topic for me especially because I've never formed a solid opinion on it, but Socialnomics has helped me to form one. The first point is that many people are connected to social networks, and lots of time and effort can be saved when considering a product or service (this is something I've held for a while now, but it is powerful). The second is that technology pressures companies and people alike to represent themselves in a singular/defined way, in order to stand out from the crowd (because of the reach of technology).
The book gives many examples of the kinds of time and effort that can be saved, using social networks' past experiences and research, and to form personal opinions of products/services. The basic idea is that people won't waste hours on researching the product they are going to buy, because they trust their social network. I love this example because it is people connecting with others in an indirect way, using others' ratings to make decisions of a product. It goes against the argument that relationships are dampened. The way I see it, the kinds of relationships we have with others are going to change, but all relationships we have are going to be beneficial in some way, such as making decisions.
The next point is that people and technologies are pressured to show themselves in a singular/defined way, in order to stand out in a crowd. This basically means that marketing in the new age (even the way we personally represent ourselves to others) is changing. We can no longer tell others that we are great at a lot of things. The jack of all trades is going to be a one in a million kind of person, and will not be believable, so it is showing others your core strengths that is going to be beneficial. Also the overplayed company message that says they are the most experienced in their field, creates the best products, best customer service, and best deals cannot be marketed anymore. With technology, consumers are able to look through this kind of message and through their social networks, find the product/service that best fits their needs. The argument that relationships will be dampened has some truth to it, but I believe that with technology the individuals are given more power.
Socialnomics
One of the most interesting sections in this book was discussing the concept that the world around us is shifting from a model where marketers historically have supported content to a world in which marketers and companies need to create their own content or seamlessly integrate with existing content. This idea opens so many doors for companies to reach their consumers on a deeper level; not only can they promote their product but they can do it in a way that brings the customer TO them not the other way around. However, as Qualman points out, this has to be done in a creative and innovative manner. Lexus can no longer get the best results (impressions, GRPs, etc) by plopping their newest car into a TV show, it has to become an part of the story that customers notice, but not TOO much or it might turn them away. As you can see, this is a challenge for agencies and companies alike.
It's not only for-profit companies that are doing this either. Non-profit companies try to woo television shows and networks to get their cause, be it AIDS, cancer, or any other issue, woven into the story line. I had no idea the extent to which socialnomics had expanded. In Season 6, episode 6 of America's Next Top Model the cast recorded a PSA about AIDS awareness and effects. This episode was not just created on a whim, the people at the Kaiser Family Foundation reached out to Viacom to help them spread thir message. At the same time the hit show Without A Trace had an episode air that was based on a character who had AIDS and followed her struggle with the disease.
These examples, and the examples Qualman discusses in the book (ESPN's fantasy football podcasts and sponsorships) demonstrate the changing world that we live in and how companies are altering their ways of communicating with their consumers. As a consumer, being aware of these changes allows me to make smarter purchasing decisions by not taking media-generated content at face value and making sure that I do my homework before making a big purchase. However, as someone who works in the marketing/advertising industry this knowledge will enable me to come up with creative and innovative ways to reach consumers and generate a conversation with them.
It's not only for-profit companies that are doing this either. Non-profit companies try to woo television shows and networks to get their cause, be it AIDS, cancer, or any other issue, woven into the story line. I had no idea the extent to which socialnomics had expanded. In Season 6, episode 6 of America's Next Top Model the cast recorded a PSA about AIDS awareness and effects. This episode was not just created on a whim, the people at the Kaiser Family Foundation reached out to Viacom to help them spread thir message. At the same time the hit show Without A Trace had an episode air that was based on a character who had AIDS and followed her struggle with the disease.
These examples, and the examples Qualman discusses in the book (ESPN's fantasy football podcasts and sponsorships) demonstrate the changing world that we live in and how companies are altering their ways of communicating with their consumers. As a consumer, being aware of these changes allows me to make smarter purchasing decisions by not taking media-generated content at face value and making sure that I do my homework before making a big purchase. However, as someone who works in the marketing/advertising industry this knowledge will enable me to come up with creative and innovative ways to reach consumers and generate a conversation with them.
Blog #8 – Socialnomics [Chapter One thru Four]
“Are You on Facebook?” Is the New “Can I Get Your Phone Number?” (p. 52)
This is a facet of Facebook’s power that I have personally seen happen numerous times. Whenever I go home to Colorado and go out to the bars with my sister we will end up talking to a guy and she never fails to ask them, “Are you on Facebook?” (Which I of course make fun of her for doing…) I’m not really sure why asking this is less stressful than asking someone for their number because it really shouldn’t be. People’s Facebook pages have information about them that one would otherwise not be able to find out without going out with the user in question. Facebook has allowed for the removal of the awkwardness that comes with the first date. Instead, people can what my friends and I call “creep” on someone’s page to discover if the person we were attracted to is someone actually worth spending time with face to face. I’m not sure if the happenings here are truly beneficial or not but they certainly offer the sigh of relief to those that are less than direct in the dating world.
“One of the key maxims of this book is that investing time on social media actually makes you more productive.” (p. 6)
This came as a sort of revelation to me. I tend to think that my friends are often wasting their time by being on Facebook when we have so much that we need to do. But in the social aspect of life they are actually getting a lot more done in a short amount of time. My friends and I have found that our other friends that are not in school feel as though they are being neglected because we have zero time to spend on them. All of our time is spent studying, especially now that we’re seniors and our study loads have gotten progressively heavier. Facebook and the other social media networks let us stay in touch with them and let them know that we’re thinking about them in the midst of feeding our brains. Though it may not be the channel that we wish we could communicate through, it’s a lot better than completely shutting ourselves off from the “outside” world. On the other hand, social media can act as a tool for finding future job offers or making connections with firms that share our interests that we would have otherwise never known about.
For example, when I was trying to figure out which of my neighborhood businesses to choose as a client for my individual project, I went to Sugar Bakery’s website and actually found out their offer internships. This is exactly the kind of thing that I’m interested in doing after I graduate to gain experience in the baking field and eventually help me open my own bakery.
“As people continue to microblog, and update their status via social media, it often becomes a competition of who’s doing the coolest thing.” (p. 48)
Seeing people’s updates about the amazing things that they are undertaking becomes a sort of fuel to do exciting things in our own lives. Furthermore, our statuses and blogs become records of our lives and can even become proof to be shared with the future generations. This is one of the up-sides of the permanence of the internet. All of the photos I’ve uploaded to my Facebook from my semester abroad will always be there. I don’t have to worry about losing them to the constant failings of computer technology. There are even sites where I can back up my files and find them online later when I need to since the space the internet offers is virtually infinite. Social media acts as a kind of security blanket in this way. It makes me less stressful to know that no matter what happens with my phone or computer that I will always have this alternative to electronically hang onto my keepsakes and keep them safe.
Socialnomics to the end
The three imporant takeaways for me from the last half of the book were about ESPN and Charles Shawb, The (almost) Subway failure, and joining them before they beat you.
The most interesting part to me was the podcast about fantasy football and how the guys at ESPN were so creative to incorporate their sponsor, Charles Shawb into their cast without it even seeming like they were a sponsor. Creating a character by the name of Chuck and having him them "just ask chuck" was very creative and I think it shows a trend towards how social media can be shaped around the product you are delivering, while having key product placement that invites customers to try it sutally, rather than forcing it in their face like a standard advertisement.
The second part I found interesting was how Subway almost missed out on the Jared fad. They were so stuck in their ways that when the advertising company came to them, they turned down the idea. It was cool to see the advertising agency stick to their guns, knowing well the potential that the Jared story could have on the American public, and the potential it has for Subway. The part that interested me is where Qualman mentioned that fewer of these stories will be hidden, and that as a direct result, companies will continue to benefit off of these extremely awesome customer experiences.
The final part I liked in the book was referring to companies realizing they need social media, and that they better join the party, before it is too late. In my job I am continuously running across companies that do not have any social media platforms at all. Most of them are small mom and pop stores, but I am going to venture to say that they have quite a loyal customer base. The example of the Associated Press was of particular interest to me because they were so dumb they asked google to remove stories from their news feed. Talk about hoping off the bandwagon (but not in a good way)!
That's it. Kiley
The most interesting part to me was the podcast about fantasy football and how the guys at ESPN were so creative to incorporate their sponsor, Charles Shawb into their cast without it even seeming like they were a sponsor. Creating a character by the name of Chuck and having him them "just ask chuck" was very creative and I think it shows a trend towards how social media can be shaped around the product you are delivering, while having key product placement that invites customers to try it sutally, rather than forcing it in their face like a standard advertisement.
The second part I found interesting was how Subway almost missed out on the Jared fad. They were so stuck in their ways that when the advertising company came to them, they turned down the idea. It was cool to see the advertising agency stick to their guns, knowing well the potential that the Jared story could have on the American public, and the potential it has for Subway. The part that interested me is where Qualman mentioned that fewer of these stories will be hidden, and that as a direct result, companies will continue to benefit off of these extremely awesome customer experiences.
The final part I liked in the book was referring to companies realizing they need social media, and that they better join the party, before it is too late. In my job I am continuously running across companies that do not have any social media platforms at all. Most of them are small mom and pop stores, but I am going to venture to say that they have quite a loyal customer base. The example of the Associated Press was of particular interest to me because they were so dumb they asked google to remove stories from their news feed. Talk about hoping off the bandwagon (but not in a good way)!
That's it. Kiley
Socialnomics
In the last chapters of Erik Qualman's Socialnomics the following are my most important takeaways:
As we move towards a more digitized model of conducting business, the marketing philosophy has greatly shifted from one that focuses on pizazz and messaging to one that is all about the product and really understanding what the consumer wants. Qualman calls this new model a "referral program on steroids" (130) because the success of business today depends more on the information customers share about the products they use through social media and less on what the advertising agency thinks the customer wants. Socialnomics has opened a new window where middlemen are removed from the equation and customers can be reached directly for their opinions and for their endorsement of certain products.
This new model is a game changer and is frightening for companies that have been successful creating in-house campaigns that they once thought were a service to the consumer. This fear has led to massive law suits and fumbles by companies who are not taking advantage of the free, cheap and simple opportunities that are now available to not only market their product, but to also introduce that product to a new, broader audience. The example that Qualman uses of the music industry suing start ups like Napster shows the potential missed opportunities the industry could have had in capturing a new market of consumers who wanted their music digitized (155). It is important for companies to move beyond listening to consumers and to give them a voice, to treat them as important stakeholders who are willing to support a product they love. Socialnomics is a new platform to get the voices heard through mediums like twitter and Facebook where active participation sustains the current customer base and attracts more fans.
Though there are benefits to this new digitized business model, Qualman points out that digital consumers are largely out of touch when it comes to interpersonal relations. We are all so connected digitally but the elimination of personal contact devalues oral communication. There is tremendous value in one-on-one in person communication because of non verbal cues that we would otherwise miss. I do believe that the benefits Qualman lists such as time saving, better research etc (215) outweigh the disadvantages. As the next generation of business people I do think that we can overcome this small hurdle if it means more efficient business practices that put more focus on the consumer.
As we move towards a more digitized model of conducting business, the marketing philosophy has greatly shifted from one that focuses on pizazz and messaging to one that is all about the product and really understanding what the consumer wants. Qualman calls this new model a "referral program on steroids" (130) because the success of business today depends more on the information customers share about the products they use through social media and less on what the advertising agency thinks the customer wants. Socialnomics has opened a new window where middlemen are removed from the equation and customers can be reached directly for their opinions and for their endorsement of certain products.
This new model is a game changer and is frightening for companies that have been successful creating in-house campaigns that they once thought were a service to the consumer. This fear has led to massive law suits and fumbles by companies who are not taking advantage of the free, cheap and simple opportunities that are now available to not only market their product, but to also introduce that product to a new, broader audience. The example that Qualman uses of the music industry suing start ups like Napster shows the potential missed opportunities the industry could have had in capturing a new market of consumers who wanted their music digitized (155). It is important for companies to move beyond listening to consumers and to give them a voice, to treat them as important stakeholders who are willing to support a product they love. Socialnomics is a new platform to get the voices heard through mediums like twitter and Facebook where active participation sustains the current customer base and attracts more fans.
Though there are benefits to this new digitized business model, Qualman points out that digital consumers are largely out of touch when it comes to interpersonal relations. We are all so connected digitally but the elimination of personal contact devalues oral communication. There is tremendous value in one-on-one in person communication because of non verbal cues that we would otherwise miss. I do believe that the benefits Qualman lists such as time saving, better research etc (215) outweigh the disadvantages. As the next generation of business people I do think that we can overcome this small hurdle if it means more efficient business practices that put more focus on the consumer.
Monday, April 25, 2011
Blog Post 8
Google search VS Social Media
When we were looking for a “right” product to buy, we usually go to Google search. However, it usually comes up with ads or some other unrelated topic. Thus, sometime Google search would waste us time for looking at unrelated topic. Now, with the help of social media, we are able to get advices from friends or people we know. In the example of buying the right baby seat, other than getting advices from friends, Steve are able to found used baby seats from his friends. Therefore, I think the power of social media is bigger than Google search as we can get the right information effectively and efficiently.
Past marketer philosophy VS future marketer philosophy
In the past, marketers believe that good marketers can sell everything. I’ve learned that “sex”, “puppies”, and “babies” are the three important elements for marketers to use in their message because they got people’s attentions. Marketers believe that the messages are the most important, then, services and products. However, nowadays, the message becomes less important. It is because buyers now learn and listen from what people say on social media. If a product is bad, people write it on social media; it no long sells no matter how good the message is. Therefore, a good product is more important than a good message.
Using Social Media, be creative at the same time
Chapter 8 mentioned a story of Tony Hawk, who is a famous guy in the skateboard world. He is retired in the skateboard competition life, however, he continues with his skateboard business selling video games, clothing and skateboards. When twitter started to grow, Tony saw an opportunity to use it as a tool for his business. He left his skateboard on a street and left a note on twitter and says “whoever found it first can get it for free.” He successfully attracted a lot of followers on Twitters by doing something like that. More importantly, the increase of followers on Twitters help his business grows.
Socialnomics (Chapter 5 toward the end)
I've learned from the book that once things went wrong on the social media, companies shouldn’t think about covering the mistakes their made. Instead, they should learn from the mistakes and turn it to an opportunity. And if a company would like to benefit from social media, they need to know how to use it wisely. Learning how to use it wisely is not a choice, but it’s something a company must do for its survival in today market.
Here is what we should keep in mind, when using social media, Qualman suggests that we have to make sure we own a great product. We might have learned from other marketing class before that marketers should care about messages they market to customers. However, the successful of companies nowadays heavily rely more on the focus in the quality of the products or services. This is because the effect of social media is so enormous. It can either enhance the reputation of the company or degrade it. An opportunity to review the products or services on social media anytime can leads to a final decision in potential life-time customers since these people looking for recommendations that do not come from marketer, but their peers, or real consumers, which are the influencers. Therefore, if the product is good, we can’t stop people to spread words about it.
I totally agree with Qualman because I have experienced how powerful those influencers are many times. My decision in whether buying a product or not most of the time purely base on how the product was reviewed. I used to disregard a product that I’ve never even tried just only because it was rated less than three stars. Vice versa, I spend lots of money on some products that has lots of positive reviews, although I many times end up with not happy with the product I purchased.
Here is what we should keep in mind, when using social media, Qualman suggests that we have to make sure we own a great product. We might have learned from other marketing class before that marketers should care about messages they market to customers. However, the successful of companies nowadays heavily rely more on the focus in the quality of the products or services. This is because the effect of social media is so enormous. It can either enhance the reputation of the company or degrade it. An opportunity to review the products or services on social media anytime can leads to a final decision in potential life-time customers since these people looking for recommendations that do not come from marketer, but their peers, or real consumers, which are the influencers. Therefore, if the product is good, we can’t stop people to spread words about it.
I totally agree with Qualman because I have experienced how powerful those influencers are many times. My decision in whether buying a product or not most of the time purely base on how the product was reviewed. I used to disregard a product that I’ve never even tried just only because it was rated less than three stars. Vice versa, I spend lots of money on some products that has lots of positive reviews, although I many times end up with not happy with the product I purchased.
Tipping point and 2010 trend
In 2010 Digital US Year in Review, Comscore provided the growth in technology and media usage throughout the year. Cyber Monday 2010 was recorded as the heaviest online individual spending day of the year with $1.028 billion. This is the first time that the amount has surpassed $1 billion. I believe we can also take this is as an indication that the economy is bouncing back from the recession. Another trend that I found interesting is the growth of the US mobile market. As of December 2010, 1 out of 4 mobile phones in the US are smartphones, while 3g/4g phones reached 51%, indicating the maturation of the mobile industry. Smartphones have enabled people to check their e-mails on the go, get directions anywhere, and even access and update their social networking pages. I believe this rapid change in technology and media usage oblige marketers to adapt and be proactive as more opportunities are coming up.
In "The Tipping Point", Malcolm Gladwell interrelates the rapid spread of a behavior, an idea or a product with an infectious disease, which are social epidemics. The "tipping point" itself is the term he uses to describe the significant moment that signals an epidemy. Gladwell introduces the three "rules of epidemics" that would determine whether the tipping point is going to take place; they are: the Law of the Few, the Stickiness Factor, and the Power of Context. The Law of the Few states that in order to reach the tipping point, three different groups of individual need to occur in the first place. They are connectors, mavens, and salesmen. I believe connectors are the people who start the movement in the first place, whether it is the visionary CEOs or enthusiastic barristas. Mavens are the influential talkers that will not let their peers make a wrong purchase decision. And lastly salesmen, which I think is rather self-explanatory.
In "The Tipping Point", Malcolm Gladwell interrelates the rapid spread of a behavior, an idea or a product with an infectious disease, which are social epidemics. The "tipping point" itself is the term he uses to describe the significant moment that signals an epidemy. Gladwell introduces the three "rules of epidemics" that would determine whether the tipping point is going to take place; they are: the Law of the Few, the Stickiness Factor, and the Power of Context. The Law of the Few states that in order to reach the tipping point, three different groups of individual need to occur in the first place. They are connectors, mavens, and salesmen. I believe connectors are the people who start the movement in the first place, whether it is the visionary CEOs or enthusiastic barristas. Mavens are the influential talkers that will not let their peers make a wrong purchase decision. And lastly salesmen, which I think is rather self-explanatory.
The second rule of epidemic is the stickiness factor, which determines whether the trend will reach exponential popularity. It is the “unique” quality of a particular product, which I think is the ability to generate what Andy refers to as organic word of mouth. Gladwell gives the examples of renowned children television show “Sesame Street” and “The Blue's Clues” to further discuss the stickiness factor. The last rule of epidemic is the power of context, which I think simply explains that timing is important. Gladwell also introduces the magic number of 150; the number he believes as the threshold of group efficiency. In addition to the rules of epidemic, Gladwell provides several case studies that have relatable properties with the spread of social epidemics.
Socialnomics Part 2
No Longer All About The Message
In today's world, the message is no longer the most important part of marketing. In traditional marketing, marketers could sell a bad product as long as they delivered a great message to the consumer. In contrast, consumers today see right through the message to the quality of the product. This is due to the fact that consumers have instant access to product reviews and the opinions of their peers. Social media has changed the way marketers communicate with today's buyers. No longer is it possible to sell a bad product. Once a faulty product is on the market, everyone with internet access will know about it. In today's shopping world, it is safe to say that the majority of individuals research a product before purchasing. Either they look at product review websites or talk to their friends and family via Facebook and Twitter. Sometimes, only a few bad reviews will be a show-stopper. Personally, I never consider a product that has anything under a 4-star rating. The most important important factor to remember for any business today is this: quality is key.
Transparency, Transparency, Transparency
It has never been more crucial for companies to be transparent than it is today. Nothing is safe from becoming public knowledge. As Erik Qualman states, it does not do a company any good to donate millions to a pro-environment cause while at the same time they are dumping thousands of gallons of pollution into the ocean. All it takes is for one dirty story to leak out and you can kiss many of your customers goodbye. On the other hand, if you own up to mistakes you could save yourself embarrassment and keep your reputation intact. This is one reason why engaging in social media is so important. It is the fastest and cheapest way to communicate with your fans. Discussing an issue on a blog or Facebook is the quickest way to reach the greatest number of people. This is true whether you are letting buyers know about a new product or addressing a problem. Arranging a news conference will cost precious time and money. Posting on Facebook or Twitter is relatively free and instantaneous. Use these tools appropriately and you will reap the benefits.
Facebook vs. World of Warcraft
We are living in a time where it is an option to either live in actual reality or virtual reality. This means either living in the world of Facebook or Second Life. You never log into your Facebook account and see updates like "Playing world of warcraft" or "Hanging out on second life" in your news feed. I believe that is is because people either do one or the other. According to Blizzard Entertainment, World of Warcraft's developer, the acclaimed online game had more than 12 million users as of October, 2010. Compare this to 20 million users on Second Life. Facebook, on the other hand, has somewhere around 600 million users (50 times that of World of Warcraft and 30 times that of Second Life). It is safe to say that social media attracts more people than virtual reality, but that does not mean virtual reality is going away any time soon. So what does this mean for marketers? Should World of Warcraft and Second Life be used in marketing, or are these a waste of time? With all the talk that goes on about social media and its uses in marketing, I think this is an interesting topic to discuss.
What I am reminded/learnt from Socialnomics part 2
When the author said that social media is transparent, I see more of the negativity of it than the positive side. Last than 4 days, I have read 4 different news that mention Facebook as one of the method of the problem. In one case, 2 young teenager suicide together . They have felt abandoned and no point in life and this is all because of social media bullying. Back in the old days, bullying is mostly physical bullying where you get kicked and punched in the toilet or something. But nowadays, as social media is very where, teenagers bully each other by saying mean stuff in the sites. This victims are getting bullied 24/7 (since the site has no hours of operations), and worst is that they are being bullied mentally. Before, bullies makes victims stronger but now, bullying through social media has made victims helpless. Second case is where two young adults robbed a bank and post status such as "I am rich, I am wiping my teeth with cash". This messages/status has alert the police because they are revealing themselves as the prosecutor without realizing. Third case is where a Buckingham Palace guard was dismissed for calling princess to be Kate Middleton a "snob" and "stuck up cow" on his Facebook page. Last one is a personal experience. A friend of mine has a car crash accident which result a women to die. He apparently was speeding above the speed limit and hit a car where a woman was driving. By the time the news reporter post the news online, people started to comment so many bad things. Many of the commenter tried to look for his Facebook/twitter/Hi5/Friendster whatever social media networking my friend has so that they can spread out bad things about him. One commenter found his Facebook and said" Let the gates be open". This 5 short words is very scary for me. I feel like the world has no more privacy. It is really a transparent glass as the author has mention. Although you set it to privacy, it still is transparent. I am sure the people that post their status/message on the case above will never thought that they will get caught. As for the case of the teenagers suicide, their bullying is so transparent, so publicly humiliated that they feel like there is no turning back. Especially teenagers, where they have not develop the skill to think maturely, they would think that their life is over. Enough is said on negativity on how transparent social media is.
I realize in all of my marketing class, it will always tell us student to "Listen to customer". I am sure that companies have their marketing majored workers or boss but why is there so little companies that is successful then? I think the major problem is that companies don't listen, they always think about themselves first such as their income/revenue and so on. Companies that is able to listen and do something about what they have listen will be successful. It is quite a simple method to success, it all comes back to the company; are they able to listen?
Socialnomics (Chapters 5-10)
Social Commerce Is A Referral Program On Steroids
Every individual today is a social media outlet (Qualman 147). People listen to their peers. For example, statistics state that 78 percent of consumers trust peer recommendation and only 14 percent trust advertisements (263). So with that being said, why is it that we confide in our fellow peers so much? My guess to my own question comes down to two main reasons, one being the concept of trust and two being the concept of stories. First off, trust is sensitive and delicate. The trust equation is fragile. As consumers, we do not like to give away our trust to just anyone. As consumers, we want our trust equation to be honored and respected. As a result, we trust our peers because they respect us and share a mutual understanding for keeping the trust equation intact. As for the concept of stories, we confine in our peers due to the power of stories because true stories of real people resonate well with people. Stories are not disruptive; stories bring to life the conversation and make it relatable. People can identify with stories making the people in the stories relatable and making the people telling the stories trustworthy. Businesses and marketers should therefore try to find a way to foster and build communities around these stories.
Marketing To Zombies
This particular section, Marketing to Zombies, in the book reminded me of our discussion in class on April 21st about quantity vs. quality. Is it about the quantity or the quality? In my opinion, quality wins. On the other hand, some people may argue that the quantity of posts on a particular website may signal to a consumer this item is popular and must be good. However, the products and services should speak for themselves. In addition, I think quality and quantity are interconnected in the sense that quality (top notch products and services) will bring quantity (consumers). Like the movie, Field Of Dreams, “If you build it, they will come.” In order to talk about something or in order to attract customers, you have to create something good to talk about. Creating something good to talk about starts with quality; quality fosters conversation. So if you offer a great product and great service, consumers will come and they will talk. However, Qualman mentions that one should not get confused and build his or her own Field of Nightmares by creating or replicating a social network for one’s company (238). For instance, if you create something that has already been done despite quality, the masses may not come. Therefore; it is important to keep quality in mind while, at the same time, connecting to the best social media tools that already exist.
This Is My Ball
Today the world has transformed more from a world of no to a world of yes. Being selfish does not pay anymore. To be selfish only works for monopolies but even then there are losers in monopolies, the main loser being the consumer. So if selfishness is a faulty strategy, why are there still some companies that refuse to embrace social media? Qualman suggests that it is a pride and profit issue. Some companies are fixated on the issue of intellectual property rights and do not want to share in ownership rights. Intellectual property is important to maintain because it protects creativity and innovation. However, being too overprotective can be costly. If one is too selfish and resistant to embracing change, one could find oneself becoming obsolete. Erik Qualman uses the example of artists and jukeboxes. If artists want their music taken out of the jukeboxes because the profits are not going directly to them, they will not get the exposure and fan base needed to survive. It also begs the question, why even sing in the first place if you do not want people to listen to your material? If you do not want your talent to be shared, then you should just stick to singing privately in the shower. As Qualman writes, “Isn’t it better to have a smaller piece of the pie than no pie at all?” (201). (This segment of the book about the drawbacks of being too selfish reminded me of the fun Juicy Fruit commercials caring is sharing and it can be fun. Social media can be fun and beneficial if people embrace change with an open mind.)
Furthermore, seven additional keynotes that I think are important to take away from Erik Qualman’s book, Socialnomics, include:
2. Glass House Generation: There is nowhere to hide with social media; social media is transparent.
3. Fail forward, fail fast, fail better: The biggest mistake for companies is to not make a mistake. Failure and criticism are essential to success. If criticism is nonexistent, then the company is not pushing themselves and they are irrelevant.
4. Businesses don’t have a choice on whether or not to DO social media, their choice is how well they DO it: Consumers and competition will do something around your brand with or without you. Companies need to stop deliberating/ second-guessing themselves and therefore just do.
5. Listen, Interact, React, and Sell.
6. The strategy in social media is speed and simplicity.
7. FEAR (False Evidence Appearing Real): It is easier to think and act rational when one remains calm and tranquil.
Best Regards,
Connie Rae
Sunday, April 24, 2011
Socialnomics CH5-9
"Consumers are looking to peers for recommendations on products, services, health issues, and more via social media."
Personally I look online (Yelp, for example) before I try out a new restaurant. I must say I trust strangers' comments a lot. When the strangers write a lot of details in their comments, the trustworthiness increase. Yahoo!Answer is another great example. I read that people ask everything on there...even relationship advice, and prom dress choices! Why don't we trust the advertisers? Or the companies? I think it is because we as consumers see that we are one group, working to protect our own rights and getting the most value--the against the other group: the ones who receive our money.
"[Advertising] now needs to be integrated with the content to take advantage of viral opportunities."
This book, Socialnomics, emphasizes the utmost importance of "content" throughout the book. It is important that a company focus on making a good product that is worthy of attention. Audience care about the quality of the content, rather than man-made advertisement. If the product is good, people can't stop talking about it, and certainly the words will go viral without any special effort or huge investment. Here is a great example. Apple Ipad has been very popular...I recently saw this link on facebook. My good friend apparently is so amazed by this video (and the product), that she can't stop sharing it with everyone she knows.
The band, North Point Ministries, is not an advertiser for Apple or the Ipad; but this video receives tremendous attention from the public. When I am watching this video, I am thinking, "I have to download one of those apps on my Ipad!"
"You aren't a social media company, so don't attempt to parade as one."
I must say this key point is eye-opening and certainly agreeable. Many companies, including the one I am working with, attempt to be a social media company itself by including blogs and social media features in its website. What I found is that there isn't a lot of "social" activities going on. The company is the only one that blogs about special offers, while on the other hand, the audience is commenting elsewhere. Why? Because the audience has to make a special effort to visit the company's website, in order to participate in the social media. There are many great social media companies out there, including Facebook, Yelp... people visit those websites without making a special effort to comment on a certain company. More importantly, these existing social media companies have features for companies to reply to the audience. And these services are free! In short, the takeaway of this key point is that a company should utilize the existing social media company to its best advantage.
Socialnomics Chapter 5-9
In the Chapter five, I have learned that people make a decision very quickly because of their family and friends or social media more than Google. When I think deeply, I think it make sense to me why people behave on this way. First, when we use Google before, we want to get the solution and result as soon as possible. However, now, when we type some keyword on Google, the first few pages pop up which are all about website which under control by big companies. Actually, what consumers looking for are about other people’s comments. Therefore, People would like to use social media or asking their friends and family because they get the answers quickly. Especially, when we use social media, we just type the questions; the answers will find us because our friends will leave the message on our social media pages. In my opinion about Google situation, I would suggest that they should at least one spot for blogger or users’ comment on the first page of searching engine; this tool at least can gain back consumers focus from social media back to Google.
Another example I have learned is “Become a modern day pied piper (page.149-150)”. In this example, I learned that when followers read our post on social media, we need to create a chance by allowing them to engage. Social media is one way to let people express their opinion. Same in the book example, followers follow Rick and tweet about their opinion because followers know that their opinion might hear and show it on TV.
Lastly, “You don’t find a job, it find you” is an interesting topic. Since LinkedIn become bigger and bigger, employers are easily look at people profile by social network. However, I have some concern about LinkedIn. When we post picture on this kind of social website, some employers still have bias on outlook (I didn’t mean all of them). They might go to invite good-looking people for the interview. The good thing is that some employers would like to use social media to find potential workers.
Blog #5 -- Questions
1. I believe that online display advertising is a double-edged tool where if done correctly it would be a very effective advertising tool. On the other hand, if it is not done correctly by, for example, when overused and addressed to the wrong audience, this could turn in to spam and could really backfire on the company. The online media type that you choose to run your online advertising campaign also plays a vital role as different types have varying effectiveness on different types of product and people. In my opinion, it is fairly as effective as traditional media advertising but given the fact of how much time people spend online nowadays, online display advertising is a very effective tool as it would be able to reach a wider audience.
2. I found that the "Will it blend?" viral videos on YouTube to be very entertaining and creative. It even draws people who have no interest what-so-ever on the product that they are selling – the blender. All the more, putting the videos on YouTube is free making a fairly inexpensive online advertising campaign. Moreover, videos on YouTube are easily accessible and easy to share which is the reason that it is viral in the first place. The videos also shows how strong the blenders actually are – the main message they want to deliver – almost subconsciously due to its entertaining nature. This gives people something to talk about and the desire to share it with their friends. All in all, I think that the viral videos are the very definition of a successful online advertising campaign.
3. I feel that for a marketing email to be successful, first it has to be;
1) Portable à it has to be short and simple. It has to be easy to share. I feel that this is the first requirement for a marketing email to be successful.
2) Create exclusivity à the email has to create exclusivity. It has to make the people you are sending it to feel special. This could be done in various ways; giving free item, exclusive discount, exclusive preview, etc.
3) Goals clearly set à you have to set what you want to get out of your email marketing campaign – in other words – set a goal. This will help to organize your emails better and helps achieve for it to be portable.
Blog #4 -- Ethics Code
After watching the video, I find it very surprising that no clear ethic guidelines have been defined for social media, that a FTC approved guidelines have only been released recently. I feel that social media has been around forever, but if you think about it, social media has only been around for 6-8 years. Thinking back and looking at the video, I realized how new the field of social media advertising really is.
The ethics guideline itself is pretty sensible in my opinion and pretty much follow on the same concept as regular business ethics. Honesty, as always, plays a big part in the ethics code. The video also gives examples of real life situations where ethics might come up as a choice between short and long-term benefits. Where companies that chose not to follow the ethics code are only looking at the short-term benefits and not at the consequences in the long run. I can’t help but feel that these companies are making some simple and ridiculous mistakes that otherwise would have been avoided if only for some sensibility and common sense.
All in all, I feel that it is better to follow by the guidelines despite the short-term benefit as the long-term benefit outweighs it. In the long-term, I feel that, those companies who abide by the ethics code benefit more by gaining their customers trust and improving their reputation and credibility.
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