Monday, September 14, 2009

The Branding of Socialnomics

First there was Reaganomics.

Then Freakonomics.

Followed by Wikinomics

Is your brand ready for Socialnomics?

But wait ... there's more!

TSB is but one of about 133 million blogs as indexed by Technocrati. The same report into the Blogosphere also revealed that on average, 900,000 blog posts are created every 24 hours. Meanwhile, Universal McCann reports 77% of all active internet users regularly read blogs.

It's easy to get overwhelmed by the sheer volume of the numbers, so rather drown in data, here is what you need to pay attention to:

1. The transparency of social media mandates that you and your brand needs to live/ conduct businesses as though your mother/boss/best customer is watching, because what happens in Vegas stays on YouTube.

2. Be careful about what you post, because in a Facebook world it will be pulled up again later. One study by indicates 45% of employers have used social networks to research job candidates and 35% rejected a candidate based on what they found.

3. Social media doesn’t have the same impact on every business or career. But, you will need to determine the impact it has on yours.

4. Social media is increasingly becoming the only way customers/suppliers/prospects interact with your brand. In fact, an entire generation of customers will never want to engage any other way.

We now live in a world where one-size-fits-all, one-way marketing no longer works. Businesses cannot continually broadcast their brand messages to consumers and ignore their preferences and feedback.

If you fail to listen, engage and respond ... your competitors and customers will.

As you will discover tomorrow.

"Today’s winners are not the result of Madison Avenue, Blueblood Political Parties, or Monopolistic Distributors. As a result of the ease and speed with which information can be distributed amongst the social graph, the winners today are great products and services—which ultimately means that people win. Companies can elect to do business as usual at their own peril. We are at the start of a newer and brighter world for consumers and businesses; this is the world of Socialnomics"


marketing maven said...

Hey Gair, great post. I was just putting together a speech for Toastmasters on social media (in preparation for workshops and seminars I'm giving next month). Compelling points. It's not about having a monolouge, it's a dialouge - two-way conversation. Companies have to take it seriously and use it to engage their customers and participate if they want to connect and relate to the 2/3 of the global internet population who are using social media. Just like you are ;-)

Mike Shanks PSP said...

My blog post today is about gratitude and appreciation. A social media hug can go even further!!


Gair Maxwell said...

Thanks for the kudos Maureen & Mike. It's always gratifying to hear when people are able to glean value from a TSB post. I'm looking forward to seeing what today's post triggers.

Thanks again.