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Looking very much forward to working Draft day. Check out the site next Saturday, April 25th.

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BIG NEWS...

I am moving to Orlando, FL this Sunday and start work next Tuesday. More information to come...

The Value of Conversations vs. Mass-Messaging

If you read my last post, you'll see a great example of an agency focused on creating conversations through Social Media rather than blasting a message out to a larger number of consumers. When it comes to a smaller event, like the one Iris was communicating about, it makes a lot more sense to have smaller, focused discussions around the event rather than the traditional mass-messaging. But does it work in all cases? Of course not. If a brand wants to maintain its awareness or has a broad message to promote, traditional marketing may work best. But let's take a deeper look into Conversations vs. Messaging:

The Time Factor:

Conversations: This would probably be the biggest hindrance to brands trying to develop conversations with their consumers. It's true, building a lasting relationship with someone takes time. There will be ups and downs, fires that need to be put out and celebrations that need to be shared; so yeah, cultivating a relationship will take time.

Messaging: If your brand has the financial stability, sending a mass message takes little time. Sure, you will have to spend some time crafting the message and make sure that it is displayed when and where you want, but after the fact, you can sit back and see what kind of response the message gets.

The Support Factor:

Conversations: A company may not see the value in directing resources around a conversation but it is important that there is a lot of support in developing these conversations. While there may only be one "voice" for the brand, it should have a lot of support in place. Both pre- and post- conversation, it is important to realize this. A fully supported conversation will last longer than one that is developed and supported by a single resource.

Messaging: Support for a mass message before it is displayed is very important. There usually needs to be assistance in strategy, audience development, placement, etc. But after the message is produced and displayed, little resources are needed.

The Longevity Factor:

Conversations: This aspect of marketing is why creating and cultivating conversations with consumers has become more important than simply mass messaging. Companies and Brands alike need to understand that creating conversations with consumers is truly the only type of communication that will lead to a long relationship. This will undoubtedly help attract more revenue per consumer which in turn will lead to a more beneficial growth rate for the business.

Messaging: Unfortunately, most messages do not live much longer than they are intended to and if they are it is usually because of some aspect of social media or WOM that has kept it alive.

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I believe that Brands need to figure out the right method to make their messages stick while contributing to the conversations developed around the brand. By participating online and off, Brands can continue to lead the conversations as well as send smart, sound messages to a large number of people.

The Value of Conversations

I recently read about an initiative that one of my VCU Brandcenter classmates, Luis Carranza implemented at his agency, Iris Digital. The shop, based out of London, experimented by bypassing traditional advertising and focusing on social media to engage its audience for a party sponsored by Sony Ericsson. The invitation-only party was centered on the World Cup, so Luis obviously built his strategy around Soccer. He used Facebook, Twitter and built a presence on soccer blogs to get the word out. Based on his strategies, I believe it is safe to say that his goal was to develop conversations around the party as well as what Iris is doing. It is safe to say it was a success. Please view this article that explains it in more detail.

Luis Carranza featured on BrandRepublic.com

The aspect of the article that is important to all is what Luis sees as the advantages and disadvantages of using Social Media:

Advantages:

1. Knowing that there is a person, someone with a heartbeat behind a brand is good for business.
2. People will look for you if they like what you have to say.
3. People have names, and too often we simply refer to them as consumers. It's more difficult to think of someone as a consumer, when they tell you their name. This approach is more human.
4. Reaction time is faster. You can make adjustments on the fly if something isn't working.
5. People opt-in and out as they wish.
6. Engagements and experiences more memorable than page views.
7. Consumers have more control and input.
   

Disadvantages:

1. Finding the right people takes time. You can't talk to every single person, so you have to spend time finding the right ones.
2. Social media campaigns don't start at 9 and end at 5. Constant monitoring is required.
3. It's not easy. You can't just say you want to use Twitter and just start doing it. Expect obstacles and set backs, but push forward.
4. Bud Caddell said it best in his slideshare presentation: "Digital Media isn't Mass Media for Cheap".
5. It's complex.
6. Much of the value added by a campaign like this isn't measurable in the traditional sense. An offline conversation as a result of something online doesn't register until after the campaign is over.
7. What worked today doesn't always work tomorrow. There's no cookie cutter way to be honest with your audience.

This idea brings up a much broader topic; The Value of Conversations vs. Messaging. I will explain my thoughts on this tomorrow.

Transparency: The Latest Buzz Word in Business

Pronunciation: tran(t)s-'par-&n-sE
Function: noun
Inflected Form: plural -cies
: thequality or state of being transparent
: easily seen through, recognized, or detected
: manifest; obvious
: open; frank; candid

Considering my youth in terms of professional experience, I am unaware of how businesses conducted themselves decades ago. What I do know though is how important transparency has become. In the years since I first attended Ohio State, the term transparency hasn't been used when discussing business as much as it has been the last 6-18 months. One of the main reasons why I believe it has become the latest buzz word in business/marketing is because of consumer expectations. As consumers, we are tired of companies promising one thing and following through on another. We are sick of hearing about internal company problems when externally, we are led to believe something else. Lastly, it gets old when companies are too secretive about the business they are in and the need they will serve.

I first heard the buzz word in late 2007. I realize that it was probably being used before that but it was very refreshing for me to hear. In fact, it was used by Path101.com, a yet to launch start up website focused on helping people figure out their career path. You can read about the site below. I was drawn to them because they were not afraid to document their experience securing funding, hiring the team and working towards an actual launch date - which happened to be last week. It is no surprise that this transparency helped them gain an audience - whatever the size - and has put them in a better position to succeed. In a time when most start ups are secretive until they launch, it was just the surprise I needed to learn what type of company I want to work for.

Another reason why transparency has become so important is Social Media. Social Media tools have allowed companies and consumers alike to develop stronger, deeper, more fulfilling relationships where honesty is necessary. These tools require that companies are open and honest because if they are not, consumers can and will call them on it. Here are three simple ways a company can become more transparent:

Step 1: Use your company blog to have a discussion with consumers - First off, I really hope your company is blogging. It is the easiest and possibly, best way for consumers to truly understand what goes on behind the scenes at your business. This is important because it helps develop a personality for your company, making it less of just a brick and mortar business and more a neighborhood hangout (if you will). Its also important to have a presence on other industry blogs and association websites, making sure your presence is known on the Internet.

Step 2: Develop a strategy for Social Media - Earning respect and trust takes time. If it didn't, it wouldn't be that important. With that said, setting up an account on every social media site doesn't make sense. Your Social Media strategy should fall in line with who your target consumer is. If for instance your business is geared toward grandparents, don't build a fan page on Facebook that is targeting your audience, rather focus on the grandparent, grandchild relationship and build trust with the grandchild. This will undoubtedly, albeit in a small way, help make your business more authentic.

Step 3: Be Inclusive - I understand that it doesn't make sense to try to beat a dead horse. That is why if you have multiple conversations with consumers who can't seem to understand your brand, it may be time to move on. But it IS important to try. Find your "haters" and try to help them understand the value in your business. Don't necessarily try to convert them into customers but rather develop a conversation about why they feel the way they do about your brand. Remember, an angry consumer can be as important as a happy customer.

Transparency is also important on an individual level. It is one of the qualities that I am most proud of. As always, I am interested in hearing your thoughts on transparency and its place in business today.