Member-to-Member

Social Media Press Release - "Controlling" the Message in a Web 2.0 World

I hear it all the time when the subject of social media marketing comes up with executives, particularly in the B2B (business-to-business) space, "but how do we control what people say about us?" The answer is, "You don't, but you can influence what they say if you're smart and play by the same rules your audience is playing by." Of course, i usually don't have a nice pithy comeback when queried on just what "rules" I'm referring to - Web 2.0 being hardly about rules at all - but now I have an actual example I can point to to explain what I mean!

A new tool called the Social Media Press Release demonstrates a sophisticated way to shape what others say about you without controlling anything. I suppose some would argue it's not that new (first introduced in 2006 by Shift Communications and now updated by Social Media Group's Digital Snippets), and perhaps not all that revolutionary (being primarily a web page not unlike PR Web's press release format) but the concept of the SMPR provides insight into how marketing in the era of social media and networking is evolving.

B2B Social Media - Real World Research

I attended the New New Internet conference last week in Washington D.C. (Tyson's Corner, VA actually - we here in D.C. are trying to create a regional feel to the large but fragmented tech community). I had the good fortune to see a presentation by Janet Hall, CMO of TMNG Global on some qualitative research they did into B2B uses of social media. As serendipity would have it, I had been introduced to Janet virtually the week before and so this week I followed up with her in person to discuss some of the more detailed findings, including the importance of companies' Return on Engagement (ROE) and some actual examples of how companies are beginning to experiment with social media in a B2B context. First, Janet's summary of the "so what?" on B2B social media.

"Why should online communities matter so much to the B2B sector? For one thing, the opportunities from social media offer a perfect alignment with the key objectives B2B marketers cite most often: transforming customer relationships, expanding brand identity, and lead generation. Secondly, the ability to leverage the collaboration and participation in online communities – which is at the heart of what Web 2.0 is all about, after all – is becoming a critical differentiator in the B2B marketplace and is likely to define a successful marketing strategy in the future. Customer collaboration, a form of user generated content (UGC), is the ultimate value-added data for a company; harnessing that data is the Holy Grail for the marketing department. It’s as much about knowledge management as it is about marketing."         

-Excerpt from Janet Hall's TMNG GLobal blog entry Why Social Media Matters

Behind the link, I've summarized some of the other interesting findings from the research, and provide a link to the full study.

Automating Serendipity via LinkedIn: Quantifying Social Media Efficiency

A few weeks back I sent out a question to my LinkedIn network asking if people found value in Facebook and/or LinkedIn and inviting them to join my Facebook network. The answers were really interesting and I made some new Facebook friends (see below), but I found a little gem in them that proved LinkedIn can be more efficient than serendipity (the occurrence of accidental fortune, not the open source blog system). One of my contacts helped her husband find his job through a LinkedIn contact, thereby demonstrating the potential for huge networking efficiencies that this service and other social media have to offer. Who would have thought we could ever have automated serendipity to achieve tangible business value?

Here’s the anecdote: My friend’s husband had sent in a resume for a job and waited two weeks. Nothing. So she got on LinkedIn and found someone in her network who knew the CTO of the company. She asked her friend for an introduction to the CTO. Her contact was happy to make the introduction to the CTO, who checked to find out the HR department had no record of the resume. Her husband submitted his resume through the CTO, got an interview and was hired.

This happy sequence of events could just as easily taken place through a serendipitous meeting at a business lunch or happy hour, except that it didn’t. And that’s what’s intriguing.

The serendipity of the happy hour was essentially “automated” via the wife’s LinkedIn search, making LinkedIn serendipity’s not-so-little helper. And, according to my analysis, if her husband’s new job was truly meant to be – the fates bound and determined to help him get it through LinkedIn or through a happenstance social encounter - the LinkedIn approach could still be as much as one day and 13 minutes more efficient. See my analysis below. :-)

I Facebooked Myself

I did it. I set up a Facebook profile for myself.

What possessed me to do this? I was reading Charlene Li's Groundswell Blog about Facebook's potential valuation at $6-10 Billion (up from $1 B last year). This seemed kind of mindboggling to me - as was the calculation that this valuation meant that (at 42 million registered users/members) each Facebook member is worth as much as $138-142 in ad revenue.

This says a lot about the potential for social media sites & applications to keep the advertising model strong as these sites prove themselves both stickier (people staying on the sites longer) and more targeted (able to deliver more individually appropriate ads to viewers who have logged in). Online advertising revenue continues to show healthy growth although the rapid changes in users' behaviors as these new Web 2.0 technologies come online are keeping the ad companies on their toes.

My Facebook experience also demonstrated the power of these social technologies to both engage people with technology and to connect with offline friends through online channels. I initially signed up just to check it out, but w/in a few minutes, I had invited several friends - professional and personal - and they had accepted and - darn it if I wasn't facebooking! I started playing with the applications and found one for promoting causes which I thought was nice. And then I added a few more.

So what's my takeaway from my little Facebook experience?