How to Start the Day

I haven’t been posting much, for that I blame it on client work. With that being said, I stumbled on this and thought I would share. It comes from a site called Funders and Founders. Good stuff!

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The State of Digital Marketing 2014

Thanks to the folks over at  Web Marketing 123 for this Infographic.

The Reality of Social Currency

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One of the tougher jobs on any given days in the digital space is the curation and or the creation of good content. It’s everywhere and sometimes it doesn’t matter what RSS feeds ot Flip Boards or whatever you use to find it, it can slip through the cracks. Case in point, this morning I came across an interview with Erich Joachimsthaler, a former Harvard professor, author of over 40 articles & two books on brand strategy and the CEO of Vivaldi Partners Group. The interview, conducted by Steve Olenski on Explore B2B was titled: What Twinkies Can Teach Marketers About Comebacks And Social Branding.

Though it was a great read, I was struck by two particular exchanges that I’m semi-condensing. Pay attention to what Joachimsthaler says about social metrics.

Steve Olenski: What are some of things Hostess has done right in re-introducing and re-engaging the Twinkies brand with its fans in your opinion?

Erich Joachimsthaler: They have done well by building on key drivers of social currency mainly conversation, advocacy and affiliation (#cakeface instagram, etc). That is, the comeback campaign sought to activate loyalists and fans through various efforts on social networks. The good part about this effort is that it stretches the marketing dollars because it creates more visibility and awareness for the re-launch. At best, the effort creates some awareness to consideration conversion. The problem with this effort is that it does not lead toward purchase and loyalty.

The category requires constant and always-on top of mind marketing/PR buzz and it is hard to sustain such effort on social channels alone, and media advertising which is relatively expensive and not sustainable. I would say, it is impossible in today’s media cluttered environment, and consumers’ who tend to have ever shorter attention spans.

Olenski: How can Hostess ensure this (Twinkies return) will be a sustained effort and not just a fad that will eventually fade?

Joachimsthaler: Don’t be misled by social media metrics, likes, fans, and followers. It has about 650,000 likes on Facebook, compare this to more than 17 million for Nutella and 34 million for Oreo for example. Don’t measure the re-launch and sustained success on these metrics. Sustainable success will require driving consideration to purchase conversion and purchase to loyalty conversion. Those are the social currency metrics that really matter.

What caught my eye?

  • Social currency metrics worth measuring are driving consideration to purchse conversion and purchase to loyalty conversion.
  • Don’t be misled by social media metrics, likes, fans, and followers.
  • The key drivers of social currency are conversation, advocacy and affiliation

I know you’ve read and heard it all before about social currency and social metrics, or maybe not, but sometimes the message can resonate in different ways depending on the context in which it is said. In this context, it was said matter of factly. Well done!

The Biggest Social Media Story of 2013

Remember this? It’s one of the classic lines of all times in a movie. Greed is Good.

greedisgood

Remember this? It was one of the biggest acquisitions in 2013.

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Remember this because it will be the social media headline of 2013…

 

snap

To quote The New York Times:

What business makes no money, has yet to pass its third anniversary and just turned down an offer worth billions of dollars? Snapchat, a social media service run by a pair of 20-somethings who until last month worked out of a beachfront bungalow in Venice, Calif.

The answer is in this last headline.

 

nytimes

 

A better offer…

Children and Social Media Project

I’m starting a new project. I have no time to really be doing this but it means that much to me; and I know it will have an impact, so I’m doing it. First the backstory. It started with an email I sent to the superintendant of our school system. It went unanswered. Here’s a few excerpts:

Dear ____ It’s been awhile since we last talked, the most recent being when we held a social media summit meeting in your office with some of the other “social media” people in our area….
…I continue to think about the impact that digital and social have on our kids. In as much that my children, are pretty heavy users, I’d like to think that I’m better than most parents at monitoring their usage; and that’s what scares me. I have come to the realization that the digital environment in which kids swim in is downstream as their parents swim upstream. We need to fix that
I don’t have the answers right now but what I do know is that there has to be an approach that leverages what we learn from their usage versus what they learn while at school and what parents learn on their own. There is a definite gap. Eventually we won’t be able to escape BYOD in the school sytem, but beyond that, where I think the gap is largest is in a lack of understanding of the mediums and the platforms, their impact and their implications.
I write this as someone who cares not only about my kids but also the kids of parents who just don’t know. I see a lot of kids, mine included, who sometimes don’t handle social properly, understand the impact of social and don’t realize the search implications of social. We have to fix this….
It starts with the wireframe below. it’s just a wireframe but it’s a start. I already have the URL too. It’s called The Social Parent.  I’ll eventually hand this over to some developers, but I’m still trying to flesh out what content needs to be there. the key? It has to be updated constantly. Things are changing rapidly. I’m not looking to make money, just make a difference. :)
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The Attention Economy is Distracting Me

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Twitter has the RT button and the favorite button. Linkedin has an endorse button, Facebook has a like button and G+ has the plus.  I know you “get” what they all do, at least you should, but I have a question for you.  Aren’t all of those social buttons just surface level engagement triggers that require little or no engagement by the user and the recipient? Yes? No?

Of course they are, and I’m OK with it  and you should be too. Let me explain. I’ll keep it brief.  :)

When you notice or have been notified that you have been liked or favorited or endorsed, what changes for you? How do you react? Do you feel that you now must reciprocate? Do you like the attention you just received? Was it your goal to get attention? Do you care? Do you feel anything or do you just move on? It all depends on who it is, right? For me, I try to take time to understand the why behind the why. Why did that person do what they just did? What were they trying to elicit from me? Why me? But maybe I’m looking too deeply into the action than the action itself really deserves? I think I am.

You see, because of the volume of content that one is subjected to each and every day, at least from my standpoint, the ability to give that content or source, all of the needed attention it made greatly deserve, is greatly diminished. The best you might get from me as I race past your stuff at 100 mph, is the virtual equivalent of a nod.

It doesn’t mean that I don’t want to read your stuff, it’s just that the best you can get from me right now is a like or a star or a favorite.

The only slight little problem with that “action,” is that by allowing people to click a like or favorite button, we unknowingly might be reducing true engagement and the possibility of an actual, ok semi-actual, conversation.

The irony though, is that we (marketers) still look at that piece of user/consumer data as being really valuable; and don’t get me wrong, it does have a use and value. It’s just that we’re so desperate for good social data, that we’re willing to create, support and proactively use a somewhat worthy and somewhat hollow metric that is The Like, The RT, The Endorse and The Favorite.

What those buttons really measure is a modicum of attention, a flicker of action and the “hope” of engagement.  So why are we suckers for clicking on them?  For the majority of users, NOT clicking the button means that they might NOT get something for their time and effort. For the rest of us, clicking is the least (or maybe the most) that can we do in this always on, multi-channel, multi-device world.

I do want to read your stuff, I really do. I just don’t have an answer for you yet on how I can add your content to the 32 tabs I have open, Besides, I’m too busy looking at someone’s profile who I don’t know, endorsing me for a skill I don’t have on Linkedin. :).

Google Plus versus Facebook? Really…

It’s hard to actually write that in the title. Is it possible that G+ could actually compete with Facebook? Check out this infographic from Social Annex, what do you think?


The Deets

Marc Meyer is a Digital and Social Media Strategist at DRMG. This is my personal blog where I share observations, thoughts and opinions that are all my own.

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