Archive for January 2011
Why Is Social Media So Hard To Understand?
I’ve been struggling with this question for some time now, I could go in so many directions on this question but, I’ll just share some random thoughts. Why is it that we default to our old conditioning when we don’t understand something? It’s a natural human behavior to either lash out or try to fit what we know to make things work. The square block into the round hole kind of thinking. Some businesses treat Social Media like any other advertising channel, they continue to practice what they have always done, they advertise, they yell, and then try to force you to listen, and then force you to buy. A HUGE mistake if you are asking me. The future of business is not business as usual friends, we are in the midst of a paradigm shift we can’t control with old practices.
To make matters even worse, the mobile movement is going to reshape not only how we communicate, but the landscape of commerce in the digital world. But that’s another topic for another time. The RESET button is being pushed, business is trying to prevent that reset. Why? They don’t understand what it means, and worse yet, they realize they can’t control it.
In order for the business of the future to survive, they will have to figure out how to give up some control to consumers. Provide access before revenue, actually listen to their customers, build a different relationship, and hire the right people who have a better understanding of this space called Social Media. This list is long and confusing, it requires a willingness to admit your business doesn’t get it. Humility will take you along way if you are willing to risk embarrassment.
In my community, we have people being hired to market on social networks, some of these people either don’t understand what to do, or they are being told to do things in a traditional manner because that’s what they know and understand. Business owners need to get out of the way, but how can they, they are wired to be in control. Taking risks in business these days only seems to happen in the start-up phase, why is that, probably because they believe the community needs what they are offering and will do whatever it takes to make it (risk). Once established, they lose they ability to risk again because they go into a management mode over what got them there in the first place.
Social Media has the ability to keep your business moving forward if you are willing to risk again. Let me give you a very low level, low risk, and simple example.
When a company wants to change something, it could be anything, what do they do? They go into the board room and try to find a solution to the problem, they look inward rather than outward. They try to solve their problem with the same thinking that got them to where they are, with a problem. Why not go out onto one of the Social Networks like Twitter or FaceBook and ask the world for a solution to your problem. You will be very surprised at the response you will get from the people formerly known as consumers. These are smart people, why not hire them for free and have them help you solve your challenge. Talk about building trust, an opportunity to actually have a relationship with those who buy your products and services. Your transparency and willingness to listen changes the relationship at a level yet to be calculated.
You as the business owner or leader, have an opportunity to take this even farther, what if you were to recognize the person or person’s responsible for solving your problem in a very public way? I’ll let you ponder that one.
We all are becoming very public, more and more we are putting our lives out there for all to see and learn. There is a risk in that act alone, consider long and hard what you put on the Internet, it’s now your legacy once it’s out there.
Building relationships is not new or changing, it like 60% of commerce has merely gone via the digital realm, that changes the rules, ummmm….what rules? Maybe the rules are the problem, maybe that is what the business world struggles with most, I think it still goes back to one thing and one thing only, Control.
When it’s all said and done, Social Media is not that complicated really. It’s forcing businesses to be human rather than machines that run by unchangeable rules. Start giving your business away to customers, let them help you and more importantly, treat them with the respect they deserve. Why? Because that’s what a Social Business does, it values those the same way you value people in your personal life. Stop trying to complicate Social Media by thinking too much. I could go long and deep on this topic but I’ll let you do comment and add value to the subject.
3 Things 2011 Will Bring
Now that the Christmas & New Years Break are behind us, we all have to get back to work at some point this week, except for the financially free folks who can do what they want. I thought I would give you a snapshot of three things that will come to fruition this year. They are very easy to predict but I can tell you this, many people don’t understand why or how it will impact their future in business. It’s not what happens, it’s how you see the future of business before it happens.
Let me get into it. Firstly, you need to understand 60% of commerce is and has been shifting to the Internet, online commerce is already huge, but it’s morphing. This will happen over the next couple years.
1.) Affiliate Programs – This year we will see a shift to where everyone will be part of affiliate marketing, it will be based on your following, how much influence you have, and of course credibility. These are just a few of the indicators that will be looked at for you to be a part of company “A’s” Affiliate program, they want to know that you have influence, a big following of consumers that will buy. Look for these programs to grow up away from the typical Internet Marketer, but do your research if a company approaches you.
This shift to the Affiliate Model, it may get a better name, will be part of the 60% of commerce I mentioned above. Consider how much and what you purchase online, you are now being looked at as a business partner rather than a consumer in 2011.
If you are a business, you may want to start your own Affiliate Program, you will also want to take advantage of Apps for the mobile market, why, read item #2.
2.) Everything goes Mobile & Social – the landscape I talked about in #1 means most of this commerce will be done through smart phones. The big three as of this writing are Apples iPhone, Microsoft’s Windows 7 Phone, and of course Google’s Android Phone. Each of these three have App Stores, not too mention the hardware makers have their own App Stores, like Samsung, Nokia and so on. This is a huge untapped marketplace, why, not everyone has a smart-phone, but they will.
Even if you are just a Blogger, get your content into one of the App Store Channels, give your content away for FREE, or charge a dollar for it, this is a new place of business for the majority. This is the year Mobile changes how we communicate and how we purchase many products and services, start making your move now, if you don’t….you will become a statistic.
Almost all of this commerce I speak of will come through Social & Mobile means, it’s the way of the new world. We are connected now, which means we are social & on the fly.
3.) Strategic Alliances – This description of doing business is not new, but it will be paramount to survival in business. Most of us will partner with someone or a some business, it’s a resource and reach thing. The have nots will not be able to fly on their own, they will need help more than the haves. The truth is, we will ALL partner up at some point to succeed in business, going it alone will be an exception rather than the rule. Prepare to have others on your team, prepare to share your wealth as well, having smart people on your team is worth the investment.
What do strategic alliances look like, Wal-Mart & McDonald’s is a good example of the term. They share revenues to leverage the number of consumers each has to offer, refer to #1, your following, your FaceBook Credit Points, your Twitter Influence will matter, these numbers will be attractive to companies. You don’t have to be as big as Wal-Mart or McDonalds. It might be just two people with large followings that get together to do business as strategic alliances, why, because it makes good sense and good business. Get ready to partner in 2011.