Sunday, October 27, 2013

A Unified Theory for Social Media

Chapter Six of Socialnomics, titled Death of Social Schizophrenia examines ways in which social media continues to evolve, and the implications for business.

Traditionally, social media has required multiple personalities for singular individuals. For example, my ‘fun’ side might be represented by my profile on Facebook, while my ‘serious’ side might be represented by my LinkedIn profile. As the text suggests however, the speed and transparency of social media is mitigating this schizophrenic behaviour; to the point of eliminating it. The same idea holds true for business.

The old model of being everything to everyone is changing, replaced by the idea that it is our core strengths, as individuals or products, that provide the best marketing opportunities.

The text goes on to expand upon this idea, specifically as it relates to marketing. The old model consisted of the following ideas:
  • Sex, sizzle, and brand imagery sell product
  • With the right message you can sell anything
  • The corporation knows what the customer wants
  • Products & messages are developed in-house, then exported to the public

The new model has a completely different focus:
  • We listen & respond to customer needs
  • Be product focused
  • We never know exactly what the customers wants; therefore constant feedback and adjustment is required
  • Fail fast, forward, & better
  • Customers are often the best marketers

From the business perspective, understanding that customers know best what they want, and that they are often the best marketers of our products….that is a paradigm shift! It opens up a whole new way of doing business; from product conception to marketing and sales. Successful companies in the future will have clear social identities, focused on their core strengths, that integrate the customer into all aspects of product creation.

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