We are going through some amazing, transformative times in the business world. I don’t think it’s a stretch to use those words. Digital technology and social media are providing unprecedented opportunities for companies to truly engage and build relationships with stakeholder groups, on a very direct, personalized and humanized one to one level. It’s scaled caring, to the point where companies and brands can create relationships with thousands of customers – and it’s what people are increasingly looking for in the brands they do business with.
Unfortunately, many companies do not yet fully realize or understand this. I have had a number of conversations with peers who work in marketing, communications and advertising – with companies and agencies. Many of them believe that the value and benefits associated with social media, particularly as presented by well-known social media bloggers and authors, are just hype – stating that they are far removed from present realities within the companies they work for or do business with.
Perhaps that is the case. Perhaps their realities are far different. If so, it is unfortunate, because their companies risk being left behind by competitors who embrace the social capabilities that digital enables – no matter which industry they operate in, no matter whether they are B2C or B2B.
Recently I sent a tweet to Gary Vaynerchuk, a well-known social media luminary and author of best-selling books Crush It! and The Thank You Economy, asking for his perspective on the issue. Gary was kind enough to record a video response, which he originally posted on garyvaynerchuk.com and I have re-posted here.
I have read both of Gary’s books, and I agree with Gary’s perspective. I think, in today’s day and age, it is necessary to have an entrepreneurial mindset – to be proactive, to search for new and emerging opportunities to engage with customers and grow business, and to be willing to take risks while doing so. Digital and social are evolving at breakneck speeds, it’s important to be mindful of new platforms which companies can leverage to build relationships with customers. Not all initiatives will be successful, but companies that employ a diverse, well-thought out range of engagement activities will uncover some that are “sticky” and favored by customers.
Having the right corporate culture, one that truly supports the new social paradigm, is also key. According to Jason Baker, Digital Strategist at Magnify Digital and Digicate, “The most important thing for any company is to focus on their culture and how their culture fits into telling their story in an authentic and genuine fashion. Anyone can know that you’re a social company. You can blabber on Twitter for as long as you want in 140 characters, but no one can truly connect with your business until you’ve identified your core values, personality, vision, purpose, and/ or cause. Ask the hard questions to extract those answers, then develop an integrated digital strategy that allows you to share those elements in a passionate, authentic, and genuine way.”
Collectively, we are all learning as we go – and sharing insights along the way. Age and experience in marketing and communications, while still important, are not the be all and end all. Look at the number of bright, young minds who are excelling in digital marketing – there are a lot of young entrepreneurs out there. Awesome!
That said, while lots of the talk is on social and digital, I don’t believe that traditional marketing is going away. Actually, I look forward to the day when traditional marketing and digital marketing just become known as “marketing”. I think there is a fantastic opportunity for companies to develop integrated campaigns across a variety of platforms, telling their brand story while engaging and building rapport with customers. Companies need to pick best platforms and engagement styles that are right for them.
It’s important to think strategically and realize that success in digital and social media will not happen overnight. At the same time, companies need to be nimble and fleet of foot, adopting a culture that enables engagement opportunities to be seized as they arise.
For a great example of this, please read my recent post on KLM.
As for everyone’s favorite social media topic, ROI, well let’s not kid anyone here – tangible metrics are important. Here is a great post on the topic from David Armano, SVP at Edelman Digital.
It’s an exciting time to be in marketing and communications, I can’t wait to see what the next few years have in store. See you in 2015.