While not entirely mainstream, terms like blogging, RSS and
wikis are increasingly being discussed in marketing blogs and ezines. For
example, a Google search on “blogging” returned over 68 million hits. A search
for “wikis” returned over 11 million hits. Whether it’s publishing a blog,
advertising on MySpace or hanging a virtual
shingle on Second Life, brands are dabbling in Social Media.
So what is Social Media? And how does it fit into the
current marketing mix of direct mail, advertising, public relations and online
marketing?
According to Wikipedia, it “describes
the online technologies and practices that people use to share opinions,
insights, experiences and perspectives with each other.” These include blogging
applications like WordPress and TypePad, and sites that use wiki technology like
Wikipedia. It also spans social networking platforms like MySpace, YouTube and FaceBook.
Through these technologies, consumers are sharing experiences through the
written word, photos and video.
The evolution of the Internet–Web 2.0–is elevating users’
expectations of web sites. Consumers want a steady supply of fresh content, as
well as the ability to participate in content creation–even if it’s limited to
rating articles a la Digg. They also want to be able to subscribe to RSS feeds
so information comes to them, instead of having to search for it.
These capabilities are changing media consumption patterns.
As a result, wise marketers are taking advantage of them to deepen their
relationships with consumers.
Powerful advertising
channel
At the most basic level, marketers are placing ads where
online crowds converge, including sites like MySpace, FaceBook and YouTube.
According to Hitwise research, U.S. Internet traffic to social networking sites
rose 11.5 percent from January 2007 through February 2007. It also accounted
for 6.5 percent of all U.S. Internet traffic in February 2007.
Harnessing the crowd
Some marketers also practice “crowdsourcing,” an approach that
engages the audience with the brand at a more personal level. A common
application of crowdsourcing is the sponsorship and promotion of video contests
on popular video-sharing sites. Southwest Airlines recently launched a contest
inviting audiences to upload their own videos with the “Wanna Get Away” theme
to YouTube. Winners were decided by a panel of judges and the public. The top
prize–a vacation on Southwest Airlines and an opportunity for the winning
submission to air on national television–provided a huge incentive for aspiring
videographers to participate.
On a broader scale, crowdsourcing is serving as a new
business model. Getty Images’ iStockphoto.com lets consumers purchase
member-generated stock images for $1. And Eli Lilly’s Innocentive.com allows
companies to enlist the site’s membership to solve research and development
issues for a fraction of the cost of in-house resources.
Branded Online Communities
Some enterprises are immersing audiences in a branded online
Social Media experience. The Atlanta
Journal-Constitution uses Web 2.0 technologies to increase traffic and
stickiness on its web site. Its myajc.com
community offers “MySpace-like” features such as the ability to create personal
profiles, share photos, search for other members and invite them to become
friends. A news aggregation feature lets members create their own personal
electronic “newspaper” using news and information feeds from the ajc.com site
and any third-party content provider.
As consumers continue to frequent social networking sites
and consume or contribute to blogs, Social Media is here to stay. Marketers
ignoring this trend are missing out on an important new communications medium.
Bob Cramer is
co-founder, CEO and Chairman of ThePort Network, Inc., an Atlanta-based social
media solutions provider. He is also co-founder and Chairman of A.D.A.M., Inc.
For more information, go to www.theport.com.
