Experimenting With Social Media

We’re all doing it – jumping in with both feet into the social media arena.  Everyone is experimenting with social media right now, and that’s what it all is: an experiment. No one has developed the basic format to succeed in social media marketing. But we’re all working hard to create our own versions of success…

During our Intro class on Monday, March 1, 2010, we welcomed Matt Singley, the Senior Director of Social Media Strategy at M8O, an exclusive social media marketing agency and one of the first firms in the social media space. Our discussion ranged from was what working in social media today and what was not and where the industry is headed. Some highlights included:

• There is big challenge going on right now between traditional media and social media. Most companies are continuing their traditional media efforts while adding social media elements, including creating a Facebook page or sending messages on Twitter. Since traditional marketing is still at the forefront, social media is currently at the end of the food chain. Matt believes that within a year marketing initiatives will start with social media.
• Some companies are using Twitter for customer service. For example, Microsoft identifies problems that users are having with their products or services and helps to correct them. Matt thinks that there is a big future for customer service in social media.
• The strategy for social media  is simple:
  • Acquire – determine how to reach and interest your target audience.
  • Engage – you can’t just listen; you have to connect with them.
  • Retain – once you have them, you have to keep them.
• One of the scariest things for companies today is to directly contact or respond to their customers online. When you’re used to pushing out messages to the masses, it’s a totally different experience when you communicating with customers one-on-one.
• Everyone tries to create a successful viral marketing campaign. The truth is no one knows what’s going to be viral.
• It is very important to add value to your audience in your social media efforts. It’s the best way to retain your customers.
• Most companies want to measure the ROI on social media the same way they do traditional media. As I mentioned before on this blog, with social media, you have to determine up front how you are going to measure your results. And the good news is…with social media, there is most always a way to measure your results. The most important element is to manage the expectation of the people above you!