Web Marketing Strategies, SEO, Web 2.0, Social Media, Trends & Tips

I frequently deliver a presentation on Web 2.0/Social Media Marketing.  It’s a high level presentation that explains to business professionals what Web 2.0 is about.  I cover RSS, blogs, podcasts, social networking, micro blogging, wikis and trends to watch.  The presentation is available for download.

In my presentation I reference an article written by BusinessWeek in May 2005 which foretold the prominent rise of blogs in the corporate setting.  The May 2005 cover story actually uses this phrase in reference to blogging: “Our Advice: Catch up or catch you later.” 

The June 2nd issue of BusinessWeek is out and it’s a doozy!  I recommend your read it!

The editors did a gem of a follow up story to the May 2005 article.  Apparently, the web traffic to the May 2005 article is huge, not to mention the comments posted on their blog about it.  Additionally, BW (much to their credit) felt compelled to update the story and particularly write about predictions they missed. 

Remember, you should read the entire article.  But, here are some excerpts:
“….Three years ago, we wrote a big story - but missed a bigger one….Blogs, it turns out, are just one of the do it yourself tools to emerge on the Internet.  Vast social networks…now offer people new ways to meet and exchange information…These social connectors are changing the dynamics of companies around the world.  Millions of us are now hanging out of on the Internet with customers, befriending rivals…It’s as if the walls around our companies are vanishing and old org charts are lying on their sides…Ambitious workers use these tools to land new deals and to assemble global teams for collaborative projects.”

Did you catch that last sentence???  These social tools are not just for teenagers.  We (you, me and our colleagues) have figured out how to use them productively in our businesses.

The article goes on to talk about tools that have become very popular to include Wikipedia, Twitter, YouTube, iTunes and Facebook.  One person is quoted as saying “the new resume is 140 characters,” referencing the paradigm for communicating on Twitter.   BTW, you can follow me on Twitter: http://twitter.com/berniebay.

The article gives a few examples of large corporations - BT, IBM - getting real work done on inhouse social networking sites.

One point I feel is very well made (and resonates loud with me) is their first fix to the May 2005 article is to revise the title from “Blogs” Will Change Your Business to “Social Media Will Change Your Business.”  Yeah!  That hits the nail square on the head!!!

Another well stated point in reference to how people use social media is: “A new class of supercommunicators has emerged.”  Another point nailed!

The article closes with this: “Even if the bubble burts - and we predict it will - the power of social media to transform our businesses and society will only grow.”

If you are hungry to learn more about the global impact of social media and how you should be participating, this article is a must read.  Here is the link again: http://www.businessweek.com/magazine/content/08_22/b4086044617865.htm

 

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Podcast Show Notes: Social Networking 3.0 - Why Are We Talking About 3.0?

Because we have to understand the enormity of the interactive web, IE., social media optimization strategies are here to stay.  We have to plan for social networking 3.0 now. 

I believe in tackling things in bite size chunks.  So, anyone who has not jumped into Web 2.0 needs to start now (in bite size chunks).  Those who are already active in Web 2.0 can accelerate their strategies by understanding what the future has in store with regard to social networking/social media.

Background:

Summary of a Podcast from a Stanford University Panel session: July 2007

Panelists from MySpace, Facebook, Ning, Demand Media, Wall

Panel moderator: Charlene Li: Forrester Research

Question posed to panelists: What will social networking look like 3, 5 and 10 years in the future?

Not possible to predict entirely, it’s easier to innovate than predict the future.

The way people will use social networking will change by connecting with people where ever you are in real time through mobile devices.  With more broadband connectivity increasingly available and reliable, the types of collaboration will expand with video, slides, pictures, and file attachments and other kinds of media delivered over the air (OTA).

Ubiquity in social media will become more prevalent.  Everyone has at least one email address so that will be your common denominator for your profiles in social networks. 

User generated content is what social networking is about.  Social networks will become more vertical based on interests, niches or demographics.  Vertical communities will explode!

Social Networks will explode according to the millions of interests and passions of groups of people.  The ability to engage with others as one identity regardless of how many interests we have will become easier.  I will be able to interact as a “golfer,” “dog lover,” “fisherman,” (three examples of personal interests) as well as my professional role at Find and Convert.  In the current social networking environment, I must set up different profiles for each interest and interact with others from each “persona.”

The concept of profiles may even become obsolete - especially multiple profiles.  Social Networking will become integrated into software applications and websites (we are starting to see it already).   We will allow people to intereact with each other on websites and software applications.

In 10 years the workforce will be comprised largely of people who have grown up in an online Social Networking environment.  There won’t even be social networks (as we know them today) because they won’t be thought of as social networks.  They will be ubiquitous (integrated into most applications and websites).

Question: When will today’s social networks become open (they are closed today)?  Currently, we have to maintain separate profiles, Myspace, Facebook, Ning, LinkedIn. 

Facebook is already open….What does closed and open mean in social networks? 

People want to take their identity with them from one social network to another.  Facebook for example has opened up their social network for developers to build apps that can be added and used by anyone in Facebook.  It’s considered complicated to “port” your identity to other social networks.  But, people have different profiles based on different interests.  For example a dog lover can interact in a social network with other dog lovers.  The same person may be a photographer and want to interact with other photographers in a social network.  They are different profiles but the same person. 

So you have the concept of a portable profile.  You should not have to check multiple inboxes and multiple blogs.  So you can respond to people according to your interest such as photographer, or dog lover, or IT manager.

Question: Monetization: In social networking 3.0 what are the new ways to monetize?

The advertising revenue model is only growing.  As social networks get more vertical more targeted advertising is possible.   It’s a huge market that is only getting bigger. 1.3 billion people are online and less than 15% are in social networks.  Viral videos, etc. offer more opportunities for targeted advertising. 

Another monetization opportunity will be in the ability to dress up our profile to maximize our profile’s exposure.  People will buy forms of self expression to dress up their profile.  In B2B it can be buying applications to use in a social network, e.g., a link to Outlook.

As the long tail is more accepted by marketers, social networks will continue to grow in very specific niches.

Current example: Classroom 2.0: a community of educators who is interested in exploring productive applications of technology for use in education.  It’s ironic that many educators are negative about Web 2.0, yet many of them are very positively exploring social networking.

So, what does all this crystal ball stuff about social networking 3.0 mean to a marketer in a business today?

It’s important for all marketers to understand what trends loom in the horizon.  Marketers must have insight into potential trends that could positively or negatively impact their business. 

There are many examples of businesses that didn’t look out in the near future and got blindsided, IBM/Microsoft, Beta/VHS, Apple iPod/music distributors.  The CEO of Data General (a defunct computer company) once said the PC was a passing fad in the mid 1980s.

Disruptions occur in markets and social media 3.0 will be an evolutionary disruption.  As marketers we need to be aware of it to understand it and avoid making costly mistakes, as well as to exploit marketing strategies available to us today, next, next month and next year.  We can exploit marketing strategies that may become available to us in Web 2.0 and Web 3.0.

Did you hear that marketing has been re-defined again?

In the 80s and 90s there was “relationship marketing,” and “one-to-one marketing.”  The funny thing about the different words used to describe marketing is that they have always had one thing in common.  All marketing (since the beginning) is about communicating to prospective customers over and over again (reach and frequency).

Regardless of how the communication takes place - advertisement, direct mail, phone call, email, website, search engine, seminar/webinar, trade shows - it’s always about communication.

Fast forward to today.  Web 2.0 has reshaped the way many marketers think.  In a world of Web 2.0 we have websites, blog sites, social media sites, podcasts, wikis, user generated content, etc. where communication takes place in a many-to-many way.   In other words, we are having conversations!  So, doesn’t it make sense to say that marketing is about conversations?!!!

Absolutely….Let’s look at some examples…I produce podcasts on web marketing topics.  People (around the world) find my podcasts in iTunes and on the web through social media and they subscribe.  Some of them engage me in conversations.  My brand exposure improves and so does my business…

A software company executive visits Facebook to seek out and find groups on relevant topics.  She joins select groups, engages in conversations on topics relevant to her industry and she learns things that help her make decisions about her marketing mix…

A consumer services company starts a blog about topics related to their service.  These topics offer people tips and hard to find information which builds a community and loyalty.  The blog visitors also visit their website.  Their brand is strengthened and so is their business.

In each example shown here the common denominator was conversations.  The new definition of marketing is indeed about having conversations with our customers and people they care about.  The influence of the communities in social media is so powerful, we simply can not ignore it!

I marvel at how so many marketers say “I don’t have the time to blog or visit social networking sites and get engaged in these conversations.”  I just hope all my competitors don’t have time for these conversations.  As for me, I couldn’t fathom not having time for these conversations.  I’ve seen enough proof. 

Have you?