The SQUARED Root

Posts Tagged ‘social_media’

Online Media Weathering Recession

Posted by Mike Chapman on January 5th, 2009

Happy New Year. In spite of the recession this year promises to be a happy one, especially if your business planning has you involved with the online world of advertising and social media.

 

On the day before Christmas, Business Week’s online magazine published a viewpoint by Jeffrey Rayport, founder and chairman of Marketspace, in which he compares the plight of shrinking expenditures on every other form of advertising excepting for the online variety. The article is titled “Why Online Ads are Weathering the Recession.”

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Rayport’s premise is, “In most media, 2009 will bring unkind cuts, and Madison Avenue will never be the same. But Internet advertising seems to be holding up.” While the title of the article implies a focus on advertising, his arguments also support effective use of social media marketing.

 

Rayport, a former faculty member at the Harvard Business School, lists a handful of arguments supporting his observation. First, online media has come of age since the mid-2000s. It has become institutionalized.

 

Digital media provides for accountability that is more illusive in other forms of media. Metrics are possible in ways that are more illusive in other forms of media.

 

Word of mouth and social media are rapidly becoming recognized as increasingly effective at influencing buyers’ decision making. While no one is exactly sure how this phenomenon is going to play out in the future, it’s evident that the most prominent social networks – Facebook, LinkedIn, etc. – are already working to capitalize. Marketers from across the spectrum will follow.

 

Online media is opportune for creating “earned” rather than “paid” ad placements of a sort. Content created by bloggers and other social media enthusiasts can be much more credible with consumers than any form of paid advertising. When companies engage with consumers in open and authentic ways on the social web, new channels are created that naturally increase credibility.

 

Online media efforts allow for very exact targeting of the people and markets desired to be reached. By targeting potential customers where they congregate online, based on interest and activities, expenditures of advertising and other online communications efforts are more efficient.

 

The article concludes by stating what many of us who’ve been involved in social media have been saying for years; traditional forms of advertising and media won’t disappear, they will just forever be changed. The recession appears to be further proving the inevitability of the previously noticed trends.

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Benefits of Social Media Networks

Posted by Mike Chapman on December 19th, 2008

With as much time as I spend working with social media enthusiasts, it’s natural to be somewhat contemplative about the effectiveness of social media networking. Looking back over the past year, I can definitely see where social media networking has been extremely effective for me.

 

By adding new tools to my pre-existing networking and communications skills, I have exponentially increased my reach and effectiveness in ways that were greatly limited before, geographically and otherwise.

 

The turning point for me was a decision I made to be more strategic about the use of my time online and to utilize the tools that worked best for me and that I liked the most. After all, if you don’t enjoy doing something, you’re likely not going to be as good at it. This seems to be especially true for social media tools given the many available channels.

 

Recently I read a blog post titled Thriving on Social Media Network Effects by Chris Garrett. In it he lists the benefits of social networking for him in a clear manner and how he has increased his own effectiveness by sticking to a regimen with his own personal schedule.

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Like Garrett, I decided I didn’t need to compete with the most active of the social media enthusiasts.  Using Twitter as a primary networking tool and online business card, I’ve been able to organically grow my personal network, help out a little with some social causes* that I feel strongly about, and increase my business network in very positive ways.

 

During 2008 I moved from cautious participant to enthusiast. I would encourage anyone else who is skeptical to give careful consideration before making a decision not to try using social media tools in their professional lives.

 

As Chris notes in his post, “You don’t have to live in social media like Chris Brogan or Robert Scoble to benefit from it :)

 

I’m a huge admirer of Brogan and Scoble. It has been a relief to know that I don’t have to be as “enthusiastic” as them to find my own comfort zone and success.

 

~ Mike

 

Capital Area Food Bank of Texas

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Web 2.0 for Conferences and Events

Posted by Jason Fellman on November 26th, 2008

I’ve been contributing to the eMERGE Blog in preparation for my upcoming presentation “Utilizing Web 2.0 and Social Media to Increase Event ROI” at the 2008 IAEE EXPO! EXPO!.

 

My first two posts are all about getting started with Web 2.0:

 

Web 2.0 or not 2.0?

 

Web 2.0: Quick Wins

 

 

I welcome your feedback and great ideas!

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Creative Capital on the Social Web

Posted by Mike Chapman on November 17th, 2008

Austin, Texas is the blogging capital of the United States. With approximately one out of seven, or fifteen percent of its citizens actively blogging, it’s easy to find someone who is really active on the social web in our community. That’s not too surprising considering that the population of the Austin area is relatively young and internet usage is high. We’re also a tech savvy community with a half-dozen Universities and Colleges, including UT Austin, a world-class research University.

 

Add the number of Austinites using social websites like Facebook, MySpace, LinkedIn, and Plaxo you would probably get a much higher percentage of online networkers and consumers who live and work here. Then if you add the number of people, especially teens, who text message one another on their cell phones throughout the day and add them to those of us who are actively Twittering, Plurking, and using new microblogging technologies to communicate and share information, the numbers likely grow even more.

 

Austin is a very creative community. In fact, it’s the creative capital of the country. So the number of creative people – professionals and amateurs – who generate content is tremendous. This is particularly true of the burgeoning gaming industry in Austin. Further, the Live Music Capital of the World is also the home of artists, actors, film makers, and really excellent advertising and marketing agencies.

 

Podcasting, online collaboration, video, audio, and all other forms of user generated content are not only common, they’re rampant in Central Texas.

 

In the context of this very creative, socially networked, and tech savvy situation in the Austin community, Steve Golab, CEO and President of FG SQUARED, has initiated a new working group to focus on the potential for businesses and other organizations to effectively communicate going forward in the new environment.

 

Social Web Advisory Panel (SWAP)

 

The formation of the Social Web Advisory Panel, called the SWAP for short, is a natural extension of the successful Interactive Austin 2008 conference sponsored by FG SQUARED this past summer and is the result of Steve’s ongoing conversations with social media enthusiasts from around the world.

 

Since Austin is such a hot bed of activity and because, in typical Austin fashion, old ways of doing things are always being challenged here, we believe that we have the perfect opportunity to utilize the enthusiasm and expertise we have in the academic, business, communications and creative communities to stretch our thinking and understanding of the social media space.

 

Also, being based in Austin gives us that unique view of the world that is ideal to understand the disruptive nature of the social web and how it is affecting the status quo. As I already mentioned, it’s a creative place.

 

Initially, we will focus on the experiences of online activity and how they create social capital between the users who meet there. We’ll dig deep into how we measure their impact by remembering that online and offline activities blend seamlessly in the lives of our creatives in Austin.

 

We will share what we discover with the rest of the world and organically expand our circle to include other interested individuals and groups.

 

Most importantly, we don’t start with a presumption of knowing exactly what we’ll find. In fact critical thinking is encouraged. We have no preconceived notion that we have all the answers. We’re looking for them through you, by making use of the social computing that naturally occurs in social networks and from any other method of discovery that comes with our efforts to learn from our respective communities.

 

SWAP members include Cynthia Baker – President, Accolades PR, Jon Lebkowsky – Principal, Social Web Strategies, Dave EvansDigital Voodoo, Ynema Mangum, John Curtis- President and CEO, Quotient Solutions, Inc., Wade Allen, Jason Fellman – Consultant and FG SQUARED Co-founder, Clay Spinuzzi – Associate Professor, UT Austin, Barry Rumac of FG SQUARED, Steve Golab and myself.

 

Please tell me what you think. Would you like to weigh in with your thoughts on the social web? I’ll be updating regularly on our activities and always welcome input. Email me at mike.chapman@fg2.com or find me on Twitter @MikeChapman if you want to know more. Of course, comments below are always encouraged.

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The Role of Metrics in Driving Interactive Performance

Posted by Jason Fellman on July 9th, 2008

How does one determine the ROI of social media?

If you’re using social media as a business tool, or even just considering it, this is probably one of the most head splitting questions you are asking. It also happened to be the central question of our IA08 panel “The Role of Metrics in Driving Interactive Performance”.

Did we answer the question? I’m not entirely sure if we did, but the panelists (aka The Social Media Dream Team) raised a lot of really good points about the measurement of social media.

Read on in our post-conference blog on the subject…

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Bill Fields at IA08

Posted by Beth Ranson on June 18th, 2008

I just learned that Bill Fields, the former president & CEO of WalMart Stores Division, is going to be a part of Interactive Austin 2008. He is going to be on a panel with our very own Dave Evans and they will be discussing the new trends and technologies that are driving social interaction.

Social interactions are increasingly becoming “virtual,” always present and close as your mobile or handheld. As a result these virtual interactions are now a part of real life: people expect to be able to connect independent of physical proximity. Networks of friends, colleagues, partners, and suppliers are playing an essential role in the collaborative processes powering leading organizations.

However, I digress, back to Bill. What makes me so excited to hear Bill’s perspective on social interaction is his background. To put it simply, Bill is not new to the world of big business. Bill has served as Chairman and CEO of Blockbuster Entertainment, President and CEO of WalMart Stores Division, as well as President and CEO of Hudson’s Bay Company, which at 332 years is the oldest chartered firm in North America.

Currently, Bill is the Managing Director of Field Texas Limited which is a consulting and investment company that specializes in consumer, retail, and supply chain in North American and in China.

Bill’s experience and vision in building larger organizations will no doubt provide a very unique and exciting perspective on how social media and social interaction are affecting the business world.

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Red Bull Gives FG SQUARED Wings

Posted by Dave Evans on June 18th, 2008

I’ve come up with a bullet-proof social media metric: the rate at which Red Bull is replenished in marketing and integration firms. At FG SQUARED, the rate at which Red Bull disappears is rising. Fast.

As the number of social application requests grows — ranging from a widget to a seminar (Interactive Austin is tomorrow…) to an extension of a platform like Clearspace — the number of cans of Red Bull moving in the general direction of the Recycle Bin (it is Austin, after all) is rising. What’s even better is that the Red Bull Index can be calculated globally — up 73% across the company since April — or locally: FG SQUARED’s West unit consumes Red Bull at about an 8:1 ratio compared with the East unit where caffeine and diet soda rule.

So, the next time someone tells you social media isn’t measurable, just smile and ask if they’re looked at their Red Bull Index lately. Then grab your wings and get back to it. We’ve come to win.

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The Innovative World of Social Commerce

Posted by Beth Ranson on June 18th, 2008

If you ever wondered what social commerce’s impact is on business, then you will be very interested in Steve Guengerich’s keynote presentation tomorrow at the Interactive Austin 2008 conference.  Steve, who is the Chief Learning Office at nGenera, will be discussing the intricacies of social commerce and what it means for the companies of today.

Steve is going to take the audience through the “perfect storm” that is Web 2.0 as it brings together globalization, talent and technology.  He also will bring into light the necessary redefinition of corporate marketing, as well as the trust that consumers and clients have in companies, brands and individuals.

According to Steve, Wikinomics is the model for leveraging social commerce.  He will use case studies to show how early adopters of wikinomics have utilized this social commerce tool in their business and the major impact that it has had on corporate trust and marketing.

Finally, Steve will introduce Interactive Austin 2008 attendees to the next generation enterprise.  With the next generation enterprise, companies will be able to source talent both inside and outside the enterprise, as well as allowing the customer to come inside the enterprise to co-innovate.

Mr. Guengerich’s keynote is sure to bring excitement into the audience as he delivers them to the cutting edge of social commerce.

Before joining the C-level ranks at nGenera, Steve was the Director of Information Technology for Bridgepoint Consulting, as well as the President of Perceptive Sciences Corporation.  He began his career with Accenture and PriceWaterhouse-Cooper’s consulting group where he specialized in advanced technologies.

Steve also is an award-winning writer and has authored eight computer books and articles for publications like Computerworld, eWeek and NetworkWorld.

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A Twitter A Day

Posted by Beth Ranson on June 16th, 2008

Twitter. If you consider yourself in the know of all things tech, than you probably have heard of Twitter. It seems to be popping up everywhere nowadays. Friends letting friends know what they are doing, giving insight to feelings on a certain topic, arranging plans for the weekend or even commenting on the article they are currently reading.

Even though Twitter was created for personal use, friends sending quick micro messages to friends; it is really starting to take off as a business tool. It lets companies update its followers on exciting news, new blogs, schedule changes, or just what the employees of that company are up to that day. Companies are also using Twitter to share and connect with others to listen to what is being talked about, in order to gain business intelligence and consumer insights.

Twitter has also taken off as a conference tool, allowing attendees to update their followers on all the interesting topics and speakers that they are encountering at the conference.

I have personally found myself addicted to Twitter lately, and get disappointed when I am not receiving tweets. Twitter gives me that wonderful “in the know” feeling; that great feeling of knowing that you can intelligently participate in almost all the conversations that are occurring around you. By having carefully chosen who I am following, I have a better understanding of what is going on in the political world, the interactive world and the social world (mostly my social world here in Austin).

If you haven’t experienced a tweet, I suggest you check out twitter and see what have you been missing in the world today.

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Facebook and the Business World

Posted by Beth Ranson on June 6th, 2008

Some of the hottest topics of the business world these days are centered on social media. One of the main issues is around Facebook as a business networking tool.

To really begin this discussion, let’s look at business in general. One of the key elements in growing your business is increasing sales. Coming from a sales background, I have attended many different sales classes and seminars and they have all said the same thing. Building strong relationships closes sales and increases profitability.

We were taught to look around a prospect’s office and find a nick-knack, a photograph, a trophy; anything that would give us a glimpse into their personal life. Maybe you see a picture of a sailboat on their wall, so you ask them how long they have been a sailor and to what destinations have they sailed. Immediately a conversation has begun.

Finding these little connections helps sales people build a small trust between them and the prospect. Applications like Facebook, can help you accomplish this before you even walk in your potential client’s door. You can see that they have two kids and that they love the Red Sox. You have a glimpse into their personal life before you even meet them.

Basically, if you are in business, you have been “social networking” your entire career. You just haven’t been able to network on this large of a scale. According to Facebook, there are more than 70 million users with more than half of them college graduates. In fact, the 25 years and older demographic is the largest growing group on Facebook today. That’s a whole lot of business prospects to get to know.

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