Blue or Red pill? Brush strokes of a Resonance Marketing Framework.

14 07 2010

Remember the blue vs red pill conversation?

I’m here to talk about the red pill. The one that would bring uncertain truth. Truth is, the internet will continue to break down the walls of the information monopoly. Social influence of all sorts will speed up this disruption of old business models. A business will need its communit{ies} to survive, and that will require a more open partnership with them. There are still less of us who believe in “InBound Marketing” than in the overused “Social Media Marketing”, hence me crying ‘wolf’ a few weeks ago. Don’t we always wonder how something becomes viral and wish we had thought of it? I do. But let’s be honest, how many Apples are around and how can anyone pump enough koolaid into a community without being ignored or worse, forgotten. Should a brand be popular or influential? Beyond cool, it’s a question of innovation, and creating a sustainable culture of innovation requires all parts of the [organization + its constituents] to stay competitive.

That’s where Resonance Marketing comes in. Resonance marketing is about widening the lead generation funnel using new & social influence. Marketing is an ‘old branded’ term about influence we are subject to… except we are now more internet-smarter than before. Social media has empowered the masses to share more and faster than any time before. From Toyota to Nestle via Pizza Hut and to many other cases, the business blue-pill won’t work anymore. Businesses, leaders, brands are having to open up to being supported if they want to thrive in the new ‘social economy’.

How do we get communit{ies} to resonate with a company’s purpose (and vice versa)?

1- Deep motivations: Marketing as spoon feeding features and benefits that will attract customers, OVER. Comprehend, discuss what’s on the mind of your constituents and turn them into aficionados, HERE. Who are you after? If you believe in resonance, you’ll need aficionados. Clearly not everyone is equal in the community game. Your core constituents are the ones you’re seeking. Scoble called them the ‘passionate‘. At the Enthusiast Group, we called them … enthusiasts. They could be customers, employees, partners, journalists, bloggers, prospects, providers. They could be silent but preferably vocal. The tools are available for free but engaging with most networks and people to discover those who matter the most is the {red pill}. If a brand is sincere and seeks to empower its constituents, it’ll open itself up to what motivates the core constituents.

2- Nods to communities: Is social media the right strategy for you? Your Twitter account and Facebook page are great for light engagement but unless you’re the cool-brand in town and your constituents have too much time on their hand, you’ll likely get quickly fatigued and the boss will ask why are we doing this. The acid test of community commitment is to get ready to bring everyone to the party from the CEO to your competitors…. geez, that’s a lot. Our job is to bring everyone to the party. Trust me, it’ll take more than a Facebook page. Even better, in the open world, everyone in your company has an opinion about your last tweet. That’s right, it’s quickly going to feel like a democracy or even anarchy. Your constituents could care less about the internal politics. They want to feel part of the journey. When trying to evaluate how to participate, 50% of the work will actually happen outside of anything you control. In most scenarios, sub-segment of communities will already exist and engaging on those already existing can quickly fill up any social media manager’s plate. They can hang out on a Linkedin group, a passionate blog, in a group of super motivated moms or simply be someone who wants to boycott you {800,000 VS 6,900}. The possibilities are endless.

3- Social organisms: Yep there are many networks and we certainly can expect more to come as each of them serves different compartments of our lives. Foursquare founded in early ’09 has now passed 2 million signed up users… would we have guessed this 12 months ago? Brightkite had been here since 2007 and only reached the same milestone in February 2010. As Paul Adams puts it, “Social networks are a mean to an end, you need to understand what the end is.” To resonate, get used to change and go where your audience may be. As mentioned earlier, it often starts with a map. If you’re big, it’ll be tedious, but you certainly will be able to discern patterns quicker.

4- Resonance: The sum of all. It wasn’t about {the brand} to start with and {the brand} should be totally appreciative of being part of its constituents’ online matrix. We may have thought it was cool to have a ton of followers and likes/fans and fold back to the dunbar number. It’s the same for all your constituents. Let’s be clear, {the brand} is still seeking to generate leads from this entire new ecosystem, except that someone else is driving now. The way to ‘get the word out’ is through a new chain of events that will create resonance between and beyond constituents. It will be based on understanding the deep motivations of constituents, dynamics of communities (loose term) and lastly, social organisms and tools. Email gave us ‘permission marketing’, we seriously got tired of that. We now have social networks and blogs. Brands should make it about them, all the constituents, what ever the brand does – {the brand} entered their world and there is no return. Inbound will be red.

Thanks to Paul Adams for the graphics and for going back to the basics.

@YannR @Extanz

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WOM-ophily: Why does social media marketing matter?

19 08 2008

I really wish this was a word. Internet might make it to be but I doubt it . WOMophily. Okay, think “homophily”. Wikipedia explains…..“Individuals in homophilic relationships share common characteristics (beliefs, values, education, etc…)”

Word Of Mouth (WOM) marketing has been around for ever and since commerce was invented. There is now a few more people on the planet and the internet is slowly becoming more effective in serving your information needs. WOMophily then is people who share common characteristics (beliefs, values, activities) sharing ideas and spreading the word about your product or services. There are few characteristics to bear in mind, however….

SMM uses Social Channel Capacity: We cannot physiologically stay in true contact with more than 150 connections, you, your friends, your relationships, their relationships (c.f. Blink, M. Gladwell) – The others just don’t have our attention like those 150 (primary and secondary connections). This is where Twitter and all the “what are you doing now?” features come in. They help us keep track of more people easily. Last week I was talking about “Saturation Points” and “Information Immunity”? If you don’t suffer from those, you are a rare indeed. Or maybe you just watch TV! There only 200 million blogs out there. Patterns of influence have changed and traditional marketing channels are just not cutting it anymore. BUT you CAN rely on your close trustees and their close trustees …etc, in terms of letting you know what services you may like, what products you should buy, what brands may matter to you. Social networks and social media have allowed the 200 most viral million of us to stay connected at this micro-level and filter out all the other marketing noise. The “You can now stay in touch and follow at the ‘micro’-blog level” is where a ton of stuff is going. The influence of micro blogging is increasing every day. Think PEOPLE LIKE ME.

SMM puts your customer to work(finally): if you connect with them PROPERLY and RESPECTFULLY through social platforms, they will value your words and spread them for you. Give them extras tips, info, cut them some smart discounts, help them understand you better, like they would a good friend. You may think, “well who’s going to keep up with all that?” Extanz might, but remember, it’s not about increasing your marketing budget but about reallocating your priorities. The ROI will be substantial because you’re dealing with hyper-targeting and word-of-mouth techniques that will carry your marketing message much further for less $. Think PEOPLE LIKE ME.

SMM is cheaper than any other form of marketing – the cost of acquiring new customers is enormous compared with growing current accounts. Social Media allows you to connect with individuals who have homophilic relationships with you current customer. The cost of acquisition is now only a fraction of traditional marketing. Think PEOPLE LIKE ME.

SMM reveals your true colors: “Do you care about me?” asks any customer. Your “blink” impression of anyone, any service, any brand gives you information that you always put back into your wallet for later. Social media forces your brand to actually connect with customers and prospective customers – not spam them like any other form of (wasted) marketing. If you don’t want to connect and stay remain aloof, you’re just falling behind. Consumers are very well informed and rely on others like their friends to use their purchasing power. Think PEOPLE LIKE ME……or maybe in this case, WE LIKE PEOPLE.

SMM doesn’t play well with control freaks and big spenders: Again last week, I was talking to a VP of Marketing in the Denver area. They focus on consumer services and their consumers are extremely passionate [hence my motivation to talk to them]. The biggest obstacle for them in terms of using Social Media Marketing was ” We would like to control the conversation….be able to ‘respond’… be able to ‘manage this internally'”. Ah right. Have you ever tried to follow 100 stocks on Wall Street at the same time? Have you ever controlled every conversation at a dinner party? Seriously, people. To think this conversation is not happening because you are not participating in it is a figment of your imagination. These conversations are happening anyway, WITHOUT YOU. Any marketer who thinks they’ll save their company by not engaging in social media will just have to try to play catch up in the next five years… it’ll be too late. Think PEOPLE MAY NOT LIKE ME ANYMORE.

SMM does not do WOT, it does WOM: WOT = WASTE OF TIME. Notice that these are the same marketers spending fortunes in surveys, market research, competitive assessments, marketing firms [not us:]. All to find out what their customers want or how to beat their competition. Yeah. OLD SCHOOL. That’s WOT busyness. You need WOM busyness. Just open up, your customers will save you millions. Then those happy customers will make sure their friends know about your product and services. They’ll become fans of yours on Facebook. The not so happy ones and therefore, most valuable in terms of your learning, will give you 2 GIFTS: The truth (that your CEO, product development and operations teams need) and the importunity (important opportunity — those new words keep popping up, don’t they) to show that you carethe very best marketing weapon you have against consumer apathy these days. The costs of ignorance and invisibility are far more expensive than any marketing budget. Think WHERE ARE THE PEOPLE (WHO) LIKE ME?

Do you care?

Do you care?