The conference was as insightful as expected. Though I religiously attended Social Media track because it is closer to my marketing focus, I hope to review other presentations as podcusts when they are posted on the conference web site.
Interesting points from the conference (all keynotes and Social Media track):
- Spotting trends: it is important to make yourself – force yourself – to be well-rounded. Modern technology allows filtering only information that we particularly like (my Yahoo, etc.); however, to find new trends a person needs to have access to wider resources…
- Continual Partial Attention – trend of our time. People may watch 8 hours of TV, but “compress” it into about 6.
- Marketing positioning: don’t confuse people. “Compact SUV” – is it small or is it SUV (what is considered large)?
- Capitalize of the spotted trend: act on it!
- What is important: not mental ability, but mental agility
- Interesting: talk to the experts, but not in the same area – in the boundary areas…
- One f the emerging trends: idea platforms. http://www.ideablob.com/
- Deciding if social media is right for your organization: is it right for the brand? Is the organization willing to communicate? Can the organization deal with the criticism? Will the organization put resources behind it? Participation in social media is not a campaign… it is a way of life…
- Social media: what is right? Both b-to-b and b-to-c are still in the process of figuring it out… In either case “b” has to figure out how to participate is “p-to-p.”
- How can a company find its “voice” in social media? Should it be one person, or should it be a persona? Maybe, the company can start with a person… and move to a persona… Best Buy SMO is twittering under “Best Buy SMO” not under personal name…
- Interesting app http://spy.appspot.com/
- Business approach should start from the people and only then move to the selection of the technology. POST – 1. People. 2. Objective. 3. Strategy. 4. Technology.
- How to buy analytics (or other “insight”) software: get 30 days trial, if after 30 days trial you can find actionable data – buy. You have to be able to USE the data, not only have it.
- ROP – Return On Participation. ROP is multiplier of conversation as much as ROI is a multiplier of $. ROP is calculated by division of the conversation points done to the conversation points received.
- Evaluation of spent resources could be done in a table: horizontal (channels, such as Twitter, blog, etc.), and vertical (ROP, ROI, % of resources, Weighted ROP and ROI on % of resources)
- From the perspective of social media endeavors:
- Keep it small and simple
- Create tests that can be built upon
- Create platforms, not campaigns
- Get everyone involved
- Create many different outlets
- Marketers need to “un-learn” a desire to do a campaign. It is not about the campaign… it is about the community… it is different way of life…
8 business rules for growth:
- Follow being strategies (don’t follow branding strategies). Build a business, product, sustainability.. . not a brand.
- Always be unique
- Focus entails sacrifice (to gain a customer you must be willing to loose a customer)
- Obsess about your customers, not your competitors
- Treat employees as family
- Hire “somebodies” not just “anybodies”
- Make meaning before money (improve people’s quality of life, fix something that is wrong, build upon something that is right)
- Stay connected. Growth happens.
I am happy to be a part of MN AMA – its culture, ever-changing traditions, and 65 years of history… 🙂