Support Notes for #NSEC Presentation
Social Media Marketing for Entrepreneurs

Yesterday (28/03/2010) I took part in a Social Media Marketing panel at the National Student Enterprise Conference hosted by @nacue

I was honored to accept the invitation to share my experiences of the Social Web but before I said yes to anything I did make it very clear that I am neither a Social Media Consultant nor a qualified marketeer – it was only later that I discovered whom else was on the panel – I was humbled to be in the presence of Penny Power, Ryan Pinnick and Hermione Way! ;-)

I’d also like to thank all the enthusiastic folk I met yesterday – your energy, tweets and blog posts were/are greatly appreciated =)


Social Media Marketing Panel
—-

Here’s a written summary of my somewhat non-linear Slideshare presentation (below). Please also note I’ve adapted my original post to include some thoughts that stem from the panel session – the trend lists at the end are my thoughts alone.


Zig Ziglar
(the sales guru) suggests every sale has Five Basic Obstacles:

No need
No money
No hurry
No desire
No trust

I believe: traditional marketing and advertising place a focus on the first two (they present a market need and provide an affordable price-point) but Social Media and Conversation can help tackle the last three by developing/empowering long-term relationships and personable trust/transparency between people/individuals through passion/enthusiasm and understanding – I paraphrase @PennyPower when I say ‘Social Networks (online and off) are built upon friendship’ – helping, listening and inspiring – not through traditional marketing, advertising, selling or preaching!

I believe: modeling/building/funding/supporting Social Media platforms and Social Interactions through unsocial behaviors such as selling, ego, marketing and advertising present much pause for concern and contemplation – its not sustainable, it only devalues the words ‘Social’ and ‘Friend’!

Zig Ziglar suggests “People don’t buy for logical reasons, they buy for emotional reasons” and these are 9 points from Zig’s 11 point list for establishing a sale:

1. Establish value before you quote a price
2. Involve your customer with your product as quickly as possible
3.
4. Focus on relationships not transcription
5. Ask high gain and high impact questions
6. Accept the fact that some prospects really don’t want to think it over
7. Logic makes people think, emotions make people act
8. Make it easy for the buyer to buy
9. Interpret your benefits not your features
10. Listen first, then explain
11.

I believe: many ‘short-sighted and traditional’ Marketeers and Brands see the above behaviors through traditional lenses and sadly they are manipulating them for short term financial gain – this is not sustainable! I urge anyone venturing into the Social Web to buy a pair of binoculars and look at the bigger picture! >its growing by the day!<

I believe that being Social (online and off) can empower everything on the above list – please realize that there are no quick wins in regards to a financial return and it should not be the number one driving force – being ‘Social’ and being a ‘Friend’ is unlikely to make you a millionaire but it will develop you as a person and it’ll certainly make you opportunity rich! its truly amazing how many people want to help a friend who’s helped them!

I believe Great Products sell companies but Great People sell services!

I believe you’re not defined by your job title or brand positioning statement. You’re defined (perceived and valued) by ‘what you actually do’, the way you spend your time, the conversations you have and the authenticity of your voice when married with your actions – why not help others by tweeting or blogging about your inspirations and experiences (photos, relevant links, audioBoo’s etc)? If you are passionate about what you do as an entrepreneur, surely it can only be a good thing to build connections, learn how to do things better and to develop yourself and others as people? accept criticism and sign-posts along the way, make them constructive! remember, its about the journey, not the destination! sincerity will shine through, such things are impossible to fake long term, as some marketers and brands are already finding out! ‘-)

What do you think folks?

—-

Re. Student Questions: these are my trending observations and predictions, hopefully they’ll provide food for thought ‘-)…



Industry Trends

  1. Crowd sourcing ideas/products (E.g. ChatRoulette’s remove perverts prize, and services like Groupon)
  2. Social Media Policy (E.g. Policy Guidance & PolicyEspresso)
  3. Geo-location & Augmented reality (mapping data in locational context – QR & RFID tags vs Gowalla and Foursquare – earn points/prizes through loyalty interactions)
  4. New scaling/working models: co-working and freelance collaboration
  5. Recommendation Engines and ROI Measurement (collecting, analyzing and measuring data, conversation, networks, purchases etc)
  6. Real-time (including mobile video/content streaming and data search)
  7. Mobile Payment Systems (square, PayPal, Bump and NFC’s N-Mark)
  8. Open Data – government and service APIs

    {*My prediction and tipped field to watch*}
    Multi-dimensional narrative (authenticity, story-telling and play within/across conversation, Facebook Games, Online Marketing and iPad Apps – including new ‘add value’ dimensions to publishing, promotion and engagement – this is where my long-term money is on services like Gowalla over the likes of Foursquare, in my mind they have two very different social narrative values)

Industry/User Challenges

  1. Up-to-speed Education (online identity, ethics,tools) – Related topics: Chat Roulette, OpenID, OAuth & TwitterAuth to reduce identity phishing scams and spam, services like SocialSentry now offer businesses the ability to track employees via social networks and conversations on twitter/Facebook/etc.
  2. Proprietary/Open-Source, Monetization & Measurement (Subscriptions/Freemium/Advertising/Free)
  3. Accessibility & Compatibility for multiple devices and navigation types (muti-touch vs browser, desktop vs mobile, Surface vs iPad etc. – including the evolution towards gesture based interaction like Jonny Lee’s genius, SeaDragon and technologies like Canesta – expect to see interface evolve towards more physical interactions like BumpTop and SixthSense)
  4. Law & Legislation – Related topics: Digital Economy Bill, Google in China, Social Media Policy and Facebook T&Cs
  5. Understanding transparency vs engagement – we don’t consume, we filter and question (government, business, advertising) – large businesses need to find/develop passionate and inspiring staff, entrepreneurs should be naturals!
  6. Data-legacy & Sustainable Hosting (Eg. dead short-url links, backup and http://deathbook.info)
  7. Data Publishing & Distribution – Related Topics: Publishing Industry vs Apple/Google/Facebook… iPad – Flash vs HTML5 video…


Summary Insights:

  1. Traditional marketing is not a ‘social’ activity so don’t apply its mindset to Social Media or Social Networks – Related topics: Top down vs bottom up, one directional vs multi-directional, multi-channel multi-media/um)
  2. Facebook, Twitter and LinkedIn are all very different – please recognize/realize this!
  3. If you’re starting a website I suggest ‘self-hosting it for a minimal fee’ and host its content where possible (but make sure its shareable and embeddable elsewhere) and build in measurement tools (I recommend WordPress and Google Analytics – then SEO and Google Adwords can come later – at least build the foundations with a sensible database format like MySQL/XML)
  4. Social Media is the playground of Individuals, agile business’s and entrepreneurs
  5. Social Media’s real strength is in its possibilities, ideas and connections to inspiring minds and challenging opinions
  6. If you choose to use Social Media then be prepared to participate (build identity/trust/respect/transparency/connections through participation in conversations and inspiring/useful/unique content) – listen and learn, apply the 2 ears 1 mouth philosophy of a BarCamp – be prepared for criticism and address it, don’t brush it under the carpet – focus on quality not quantity, long ‘unique’ blog posts are worth much more to your community than short posts of information they can already find elsewhere ‘don’t create noise, create gems!’ – build your content into a story, narrative is often engaging if it has a plot!
  7. Please be aware that 3rd party services can and will change their business models – I personally believe services like Twitter will start charging businesses and providing limited data (API) access to individuals very soon (its likely other services will start advertising in your content feed), don’t put all your eggs in one basket in terms of YouTube for video, check great services like Viddler.com (its equipped with widgets and analytics) and be aware of using short url services (bit.ly is my current preference but even I’ve got a long list of improvements to make to my blog)
  8. Social Media Communication is not a replacement for traditional marketing, attending events or real-world face-to-face meetups or conversations over coffee/beer, it is simply a supporting channel – get out and meet people! put your twitter address on your business card and use #hashtags! > when social online meets social offline true value is realized (both ROI and SROI FTW!) see > Twestival.org, Tuttle.101 and many more!

Please do checkout these resources – click the links below:

This is a better introduction to me >my @fellowcreative padawan blog-post<

http://informationarchitects.jp
Do you have a Facebook?
BBCs Virtual Revolution series (you should find all 4 episodes on YouTube)
TED Video on Creative Commons
Online Ethics and Digital Legacy
The UK Digital Economy Bill
Entrepreneurship Advice from the founders of Air B&B (4 episodes in total)
The future of Game & Play
(watch the embeded video!)
Seth Godin’s post entitled ‘The Ubiquity of Competition’
(check all his blog content!)

-

No Comments

Leave a Comment