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social media
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.
There are not many industries that have a more passionate following than the car industry. Everybody knows someone that is involved in it, and lately we all know how it has suffered. While most people have been focused on if GM will file chapter 11 and will Chrysler be speaking Italian by the end of the year the marketing of the automotive industry continues to develop at quite a rate. After all we all still need cars right?
One interesting company is Driva Studios who have modelled every single car for sale in the United States in 3d and have produced an unparrelled library of to be quite frank stunning car and truck images, aimed at dealerships, solution providers and portals. What has drawn my attention to this development is their deployment mechanism. They ahve built a full CDN to deliver video and images anywhere at fast speeds which I feel bears well for future developments the company may undertake considering they are part of the Dealership Driver group of companies there should be no limit to the gadgets they can develop.
Wow I had almost forgot I had this blog! I have been so busy lately working on so many projects that I haven't even seen a weekend for a few weeks let alone had time to blog. My idea of socializing lately involves linkedin, twitter and msn messenger. Well it has finally happened, I have left the real world in favor of a social media based world, where I work and speak about work with others who work in my industry. To much work and not enough play!
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
Today I bought my tickets and made my reservations for the 2008 IWOM conference in Paris. It is being held in early May and if you are really interested to see how Emerging Media can benefit your campaigns I would make sure you are there! More info can be found at http://www.iwomc.com
45% of marketers surveyed by database marketing firm Epsilon reveal they haven't yet committed marketing dollars in emerging media, however they are increasingly interested in dabbling in this somewhat new arena. Online social campaigns or word-of-mouth marketing are the words closest to the lips of the industry with 67% interested in adding it to their offerings.
These figures only further show how old tactics are hard habits to kick and how a different mentality to marketing in a digital world will be slow to take root with such a contrasting direct communication medium as the Internet, blended with the perceived uncontrollable nature of social media.
Marketers are now showing more than a mild interest in associated web 2.0 social media campaigns the stats of their interest levels are below:
Out of all marketers interviewed, Social Networking / media and Word of Mouth, blogs were top with 55% showing an interest ; mobile came a close second with 48%; and RSS feeds, 44%. Instant messaging appears to be less important with a lower 31%.
