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Archive for March, 2010|Monthly archive page

Marketing 2.0 Conference 2010: A Review

In Marketing, Technology on March 24, 2010 at 12:40 pm

This post was originally featured on http://blog.sociomantic.com, published on March 23, 2010. Since the website will be relaunched and the post removed, I have relocated the tutorial to my personal page so that the SNA and online marketing communities can continue to benefit from it.

I’ve just returned from Paris, where we had the pleasure of attending the M2C at the ESCP Europe campus. There were lot of really wonderful presentations from many great brands and companies, so we wanted to share some of our biggest takeaways from the conference.

Manish Metha, Dell
Intimacy and Scalabilty: Using Social Media To Manage Your Brand

  • As a brand’s social media model grows, they often lose their ability to interact intimately with their customers. Metha suggests reconciling this negative relationship through “conversation clusters” — break down the conversations that are happening into distinct spheres of interest to better manage the interactions. Segmenting the conversations into different clusters will help provide more and better conversations.
  • For B2B, social media should be about connecting “subject matter experts,” engaging the blogosphere, participating in the conversation

Emmanuel Vivier, Vanksen
6 Rules to Fail With Social Media

  • “Marketing is like karma,” you have to give something if you want to get something.  You have to offer customers value to make your social media strategy work.
  • He offered the following update to Forrester’s 2007 “POST” strategy for social media marketing:
    • Profile: understand the activities of your audience
    • Objectives: Decide what you want to accomplish
    • Strategies: What is the creative idea? message?
    • Tools: What tools, formats, platforms?
    • Evaluate: What metrics and KPI?
      • My two cents: I found “evaluation” to be a big thing missing from a lot of the social media talk at the conference. It’s clear that companies should be using social media to engage customers, but it wasn’t always clear what they could show the boss at the end of the day. This is where social network analysis and related analysis of customer lifetime value comes in.

Steve Knox, Tremor (Proctor & Gamble)
Perspectives on Innovative Word-of-Mouth Advertising — P&G Learnings and Future Outlook for Brand Markers

  • Amplification of your brand without advocacy of your brand is a waste. (Don’t be caught with a “successful” viral marketing scheme that no one associates with your company.)
  • A brief lesson in cognitive theory: To save brainpower, our minds operate in terms of “schema” — patterns that determine our expectations of a situation. Our attention can be grabbed when a schema is interrupted (things happen in an unexpected way) OR when two schema are combined in a “conceptual blend.” Brands must work to make their marking “mildly, not wildly, incongruous” with our existing schema if they want to get our attention.

Pauline Ores, IBM
Influence Starts @ Home

  • As a B2B company, in order to influence, you must be influenced. Be knowledgeable, respond quickly, and don’t forget to react.
  • The potential insights you gain by “listening” to your customers on the social web can only make an impact on your business if you turn around and feed that information inside, then grow upon it internally. At IBM, they use a highly successful internal social networking to drive innovation and improvement. No matter how big your company is, it’s essential for the internal communication to react rapidly to the external communication in order to see results.
  • (Pauline, if you’re reading this — thanks for your insight and conversation! It was a pleasure to meet you and to hear about the interesting and innovative initiatives you’re helping to lead at IBM.)

Carlos Diaz, Blue Kiwi
Successfully Tie In Traditional Social Media Techniques Within Your Existing Multi-Channel Marketing Strategies

  • You need to have an engagement strategy, not just a social media marketing strategy. How will you get your customers and potentials to interact with your brand in a meaningful way?
  • Conversation from influencers is the most important for ROI. Find a way to filter out the “best” (most valuable) conversations and focus on these conversations.

Mike Butcher, TechCrunch Europe
Will the Next Wave Be Intention?

  • In Web 2.0, marketing has gone in waves: social marketing > viral marketing > location-based. Is “intention based” the next wave?
    • My two cents: One of the main downfalls of existing social media monitoring systems is that they often provide conversation (complaints, feedback, wishes) to which companies can react, but they are seldom empowering brands to proactively pursue their customers and potentials.

Barak Libai, Tel Aviv University
How Can We Assess the Real Value of Word-of-Mouth for Brands and Marketing

  • “Social Value” is the monetary value a customer adds due to their social interactions. There are two dimensions in which to calculate this model. The first by the value of the product that the person buys because of a social interaction. The second, and far more complex, dimension has to do with the value of the people who are influenced to buy the product by this person.
  • Determining customer lifetime value: In the social spectrum, we move from a measurement model of customer acquisition (now we have another customer because of marketing effort X) to a model of customer acceleration (we have another customer sooner because of marketing effort X)
  • There is no simple way to calculate these values — there are issues such as of the number of friends influencing a single person (influence from multiple nodes), the amount of chatter surrounding any influential conversation, etc.
  • Net Present Value (NPV) of cash streams: academics have learned that clusters of people (friends, people united by similar interests, etc.) tend to have similar lifetime values. So in order to determine how valuable any one customer may be, they could use what Libai called the “It’s a Wonderful Life” approach, in which they build a model to determine how customer lifetime value might be affected if a single person were removed from the bigger picture. This is the approach they’re taking now:
    • Collect data on real social networks
    • Run simulations on these model networks (think Sims 3)
    • Conduct experiments in these model networks (removing nodes — notice the difference between removing an influencer versus a non-influencer)
  • What have they learned? Influencers are definitely important, but random seeding is good, too

Sumaya Kazi, YoProCo (formerly of Sun Microsystems)

  • Big companies should think like startups when it comes to social media marketing. Startups benefit from having a united voice, and this is what big companies need. Startups have to use social media because they don’t have big budgets for marketing; big companies should take the frugal approach to social media marketing instead of waiting for big budgets to pass through the upper tiers.
  • Great ideas from Sumaya:
    • Designed a Sun Microsystems Facebook group that promises “bytes” of info on a regular basis
    • “Sun Social U” training courses for Sun Microsystems to teach employees about Sun’s social media guidelines
    • Shared a conference they attended by distributing 100 (or so) Flip video cameras and having users upload their content in the form of one minute video interviews of people from the conference

The big question at the end of the conference is how to harness the two-way-communication marketing trend. How can we make these all these conversations actionable? What do you think?

Below are some great resources folks have posted to document and comment on the conference. We’ll update this post as more materials become available:

Presentation by Michael Donnelly, Coca-Cola

Culture Buzz Video Aggregate

ESCP Europe’s recap video on Facebook

Hilarious video (“Send Us Your Reckons”) shared during the panel about the role of journalism in a Web 2.0 world

Dude Awesome Word

In Clubs, Eats, Food, Life in Berlin on March 13, 2010 at 6:26 pm

Let’s not talk about update infrequency. A lot’s been going on.

Despite his workload, Will and I try really hard to get out and see the city, even if it’s not the traditional touristy roundup of places. Berlin is bursting at the seams with completely unique eateries and boutiques, I only wish I had more money to spend at all of them. It will be really nice when we’re a teensy bit more settled here (i.e., done dealing with the formidable beast of pending visa applications) and we can live like normal folks. Not that our life is so hard or anything, we’re really very comfortable by now. But I just hope we get the chance to make Berlin our home for a while, not just the place we’re staying for some sort of weird extended vacation (in which we happen to work full time).

In terms of special Berlin places, there’s a few I’d like to mention.

  1. Cuccuma
    From whence I write. We’ve spent quite a lot of time working and reading at this magical little cafe because it is conveniently located right down the street from us. The coffee here is probably the best we’ve found, and it even comes with lovely little latte art from a smooth-wristed and friendly staff. We usually get a delicious little custardy popover dealy, but today we tried the cheesecake and it was IN.CRED.I.BLE.

    Cuccuma panorama from upstairs on the balcony

  2. Tom’s Fritten (which I suspect used to be Becker’s Fritten, since it’s the same spot)
    If you are looking for some seriously next level pommes mit ketchup und mayo, don’t miss this spot. We’ve gotten the chance to check out quite a few french fries in just as many states of sobriety, but so far nothing has come close to this.

    Tom's Fritten as portrayed by the Pig Out Spots blog, which gives them a totally bogus rating

  3. Zur Rose
    Adorable little DDR inspired cafe across from Rotation Records with incredible gnocchi and a pour-your-own beer tap. New menu every week. Wine in carafes. Some of the chairs are a little weird/uncomfortable, though.
  4. Il Casolare
    Just can’t get enough of this pizza. We’ve been twice in the past month. I think I already rambled on about the sister restaurant, Due Forni, but let’s just say (again) that I’ve never, ever, had pizza this good. (Though, admittedly, I’ve also never been to Italy).

I guess on some very tiny level I’m already taking taking the music scene here for granted, which is a shame considering how mindblowing any given night’s lineup could seem from across the pond. But the reality of living here is that not every klubnacht will be magical, and even on the magical ones you often have to pay entry fee and then the cost of drinking out all night. It can all add up pretty quickly.

That said, there have been a handful of performances over the last few weeks that top my “best of all time” charts. A few weeks ago we went with our friend Miranda to Horst Krzbrg, a simple little club down the street from our apartment that charms its guests with vases full of hard candies and branded boxes of matches scatted throughout the venue. The green and red lasers had this amazing disco-ball effect, shooting thousands of tiny, perfect little sparkles all around the room (sounds cheesy but you have to see it to love it). The night opened with some serious disco heat from the likes of The Revenge and his buddy Craig Smith — these Scots sure know how to make a lady move. Seeing just these guys would have been plenty of fun for just one night, but we had the added super-bonus of seeing a live Reagenz performance as well. HOLY COW. When David Moufang busted out the Gibson for “Dinner with Q,” Miranda and I both sort of lost our heads. (Typical girly reaction to guy-with-guitar, I know, but have you heard Dinner with Q?)

The following weekend we had the extreme pleasure of catching the end of the set by Sandwell District stalwarts Regis & Function. Now that’s what I call techno. These guys were truly remarkable — I haven’t liked any techno-techno set as much since we’ve been here, or perhaps ever, for that matter. Usually the techno in Berghain is way too hard and fast for me to actually get into when I’m dancing. Doesn’t meet I don’t like it outside of the club, but it just doesn’t quite mesh with my body.

But this was totally different. Will told me before we went that apparently both of these guys have pretty WZBC-ish rock roots — their tastes are colored as much by techno as bands like Jesus & Mary Chain and Joy Division. You can tell when you listen to their sets. The washing reverb and constant color is a welcome addition to any set, especially in a room with a sound system as good as Berghain’s. And these are the wonderful sorts of DJs who aren’t just mixing record to record — they carefully select the best moments from great records and keep you hung on every minute by merging the wax together with drum machines and other equipment I know nothing about. (Or so it seemed to me.) If you don’t have it already you should download the podcast they did for RA (info, mp3). Upstairs in Panorama Bar later that day, Dinky also kicked serious ass.

Other than that, Will’s parents and brother will be here for the week (they get here tomorrow morning), then next week I’m going to Paris for a conference. Definitely feel like we’re living the proverbial life, but we’ll see what tune I’m singing after we visit the foreigner’s office this week. Keep your fingers crossed for us!