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social networking
So I think everybody that is online interacts with social media in one way or an another. Whether it is a profile on facebook a community on ning or watching TV on Hulu. Many industries are now starting to somewhat understand the power of social media and are starting to get in to the game.
The one I am going to pick on is the automotive industry as I have been working with it in the last few months. I see trainers attracting followers on ning and pretty much everbody twittering, yet when you look at most dealers websites they are still very one dimensional aside from a few badly designed research tools. However my question is how do these companies define a process that allow them to interact in different channels, understand the social value of their participators and convert them in to product and service evangelists. On top of that how do they start to define the true monetary value of a lurker and translate that in to a life time client value and hence be able to find that ever elusive ROI and cost per sale.Because I am a professional online marketer I could define my own metrix and datamine my analytics for meaningful results that would allow me to understand which channels got a better pickup rate and cross match that with my cost, but most companies do not have the time or knowledge to achieve this and agencies who do this for their clients are far to lean on the ground at this time, because they do not yet fully understand this new medium.
In the last year or so analytics have become far better, but in my opinion there is a long ways to go until tradionally offline and non tech businesses have to tools that are easy to use, understand and act off of to make sound business decisions relating to participation in social media.
Being a Brit, I sit in these situations quite separate from the world going on around me, watching and listening to the local characters with fascination. So, Nascar was discussed, the love of Bar-B-Q and other general topics that surround what happened on a particular drunken night back in 2001. None of this surprised me at all in anyway and I actually enjoyed hearing this different perspective on the world. Just as I thought the conversation could get no more stimulating an interesting topic was launched. The people collectively started speaking about Indian culture, music, communities and media. This seemed slightly out of place until it became apparent that this collective knowledge base was exclusively garnered from social media platforms and especially consisted of video content. All participants were in their twenties and all used social networking to communicate and organize offline events with each other and without exception all used social media videos as an on demand educational resource. The people at this large table showed an interest in viral shock engaging content but also said the search for information was the largest way in which they used social media content. I took away a true appreciation of the global reach and diversity of people who are taking this new media channel and using it in ways of furthering bonds and knowledge of the world around them. I walked away with a couple of bang-rah artists I need to look up and a new network of people. 
Last night I went to a birthday party for a good friend. It was strangely held in a pool hall somewhere in rural florida. The music was 1980's house music and the dress code was come as you are, even if you haven't gotten round to washing your clothes yet this year. You know the kind of place?
I attended the IWOMC conference in Paris hosted by ESCP-EAP (European School of Management) and Nils Andres Brand Science Institute. My schedule has been crazy since I got back but over the next few days I will be making a few posts with some of the concepts delivered on both WOM and Web 2.0. I recommend next years event to anyone wanting cutting edge information as well as well rounded approach to delivering excellent content and great networking opportunities.
From an Emerging Media stand point many new concepts that further layout the future for Web 2.0 were delivered and even though I am very experienced in this field the new demographical data and analytics shared, really shared light on how niche markets are capitalizing on engaging their audiences and creating experiences. A great example would be OSOYOU which is a British social media community specifically geared to women and shopping. I Would suggest you check it out to see how affiliate marketing can be used effectively to engage audiences, create social groups and most importantly build monetization in to social resources.
I recently met the founders of a new German concept based around social networking and mobile networking using bluetooth technology. The concept revolves around managing your offline world both online and through your mobile phone. Their branding is unique and they have also just released an English language version. If you want to se e how the mobile world is interacting with web 2.0 concepts this is a very good example. Mobile is the buzz word at the moment and this technology, even considering its limitations is a great start. I just want to add the people from Aka'Aki were enthusiastic and humble about their project and I think they have a great future ahead of them, great work guys I can't wait to see how you develop this further! Aka'Aki
QG Partnership is growing and has today released it's plan to open a new subsidiary agency dedicated to Word of Mouth Marketing. We cannot yet fully divulge the full nature of our project but you can get clues by popping over to WOM Creative every now and again. More information will follow. WOM Creative
