Markets are conversations…


…so declared the writers declared of The Cluetrain Manifesto back in 1999. It’s still enormously relevant and important, even though many of their predictions haven’t yet come to pass, and the old ways of Business As Usual have proved remarkably resilient. But broadband technology and the growth of social media in the last 2-3 years is now providing the environment for these conversations to flourish and grow.

Markets are conversations. Barter economies were based around individuals trading with each other to exchange goods. Information spread through word of mouth. Wise men kept their ‘ear to the ground’, and those with the best networks could command the best prices and biggest markets.

In recent times these inter-personal conversations were drowned out: new technology and communications media enabled those with money and resources (companies and their brands) to shout louder and for longer. Advertising and marketing campaigns became monologues; broadcasting messages from brands to persuade rather than engage or provoke any response besides purchase. They effectively overtook the individual’s ability to conduct conversations.

Now the technology has developed further, and is giving those abilities back. News spreads fast; review sites and social media enable strangers to recommend or condemn brands and products. In some companies and sectors faster than others, this is and will require a fundamental change of approach.

Many companies still “BAU” (Business As Usual) as an everyday term, which seems to imply that they are trying to preserve what has gone before, and everything else is perhaps “nice-to-do”. The very use of language is conservative and incrementalist, suggesting that change will only come when it arises from the pre-existing models.

Marketing Sherpa has recently published research indicating that Social Media and Search have overtaken email spend, and already significantly exceed display advertising. Companies are having to work differently…

It ain't about advertising...

It ain't about advertising...

However, many are still clinging to their historic approach to media. They claim to want to engage their consumers more directly and personally, yet they continue to spend a tiny fraction of their time and effort on this. They prefer to spend money advertising in traditional ways through traditional channels rather than hiring staff or systems to engage in conversations with their customers directly. They seem to fear the lack of control and certainty that comes from interacting with individuals, rather than the comfortable assumption that consumers are all the same. Well, we’re not.

Technology is giving people back the ability to engage each other more directly. There’s more truth in The Cluetrain Manifesto’s 11-year-old declarations than in most marketing reports published last month. We’re starting to help some of our clients learn how to face the future, and it’s already beginning to demonstrate results…


 

Become a Facebook Fan


The current social media phenomenon is Twitter, before that it was Facebook, MySpace and Friends Reunited. And while your brand wants exposure in the most popular digital environments you shouldn’t forget there are some communities that are probably here to stay.

What am I talking about? Well it can only be Facebook can’t it?

In the UK only Google gets more traffic than Facebook and in terms of social networking websites Facebook is a country mile ahead of the field.

I’m certainly not saying forget everything else but given that Facebook traffic is more than everything else in the top 10 added together you’d be crazy not to even consider it. Add to the fact that it has 200 million active users and more than 4 billion minutes are spent on Facebook each day then the reasons not to become harder to justify.

So, what options are available?

For brands the obvious place to start is by creating a fan page. They are quick to set-up, easily tailored to your needs and can become extremely viral if done properly. The key benefit though is that it gives your brand the opportunity to listen and talk to your consumers in an environment they are already very comfortable in.

Redbull on Facebook

Redbull on Facebook

Adding fancy gadgets and links to your corporate site is fine but the chances of your page being successful will be pretty slim. At the launch of Creston’s strategic approach to social media Kieron Matthews of the IAB stressed the importance of “respecting your environment”. If you are going to enter into your consumer’s community then make sure you follow their rules. If you don’t then you could quite easily end up following Habitat’s recent Twitter debacle.

A few fan page must do’s are:

  • Conversation is key. If your fans ask a question, give you feedback or make a complaint then don’t ignore it: respond. Being open and honest will create trust.
  • Keep your fans engaged with regular updates but don’t over do it so it becomes spam.
  • Plan ahead and create a content plan. That way you always have something to say.
  • Make your fans feel special. Treat them to Facebook only discounts or leak them news before it’s officially released.
  • Remember it’s a two way conversation. Treat your fan’s as individuals and try to add a human face to your brand.

Facebook fan pages aren’t right for every brand but if you do venture down this route then make sure you invest the time in listening and responding to your customers.

And one final thought: more than 6 million users are becoming fans of Pages each day.