Posts Tagged ‘social media’

Evaporating Influencers

Friday, May 31st, 2019

Enter “beach” in an Instagram search and you can expect to see the first 30 images stuffed full of perfectly lit, posed images of “influencers”, men and women in various swimwear, languishing on exotic beaches from Ipanema to Koh Samui to Byron Bay. A collection of largely anonymous characters paid to promote brands on social media. The giveaway, a link to the brand with some gushing “heaven” comment.

What started out, as a grassroots, guerilla marketing activity has become mainstream as the media companies and regulators exert greater transparency rules on the influencers and advertisers.

The medium in the rush for authenticity, fake or otherwise, is commanding huge time, energy and resource from small retail brands. Is this innovative or merely fixing a marketing problem? Is it really impacting purchasing patterns? Do the influencers possess real power and authority?

The answer lies in this question: if customers in a high-tech world can check the reviews, prices and quality of any retail clothing product 24/7, 365 days a year globally, do you agree the consumer now “owns” a brand’s marketing?

In other words, traditional sales and marketing teams, and resources are largely redundant.

If you do, the priority is “evangelism”. Highly credible and influential figures, who respond to innovative and creative brands not because they are paid to but because they are passionate about the product or service and see it is as mutually beneficial to promote the brand. So in one sense, little has changed for big or small brands in the 15 years since Tom Ford left Gucci? Perhaps not a lot. Other than who the consumer sees as someone with the power to have an effect, direct or indirect, on their style and purchasing patterns. Some are timeless like Julianne Moore, who is arguably as relevant today as when she first arrived in the entertainment business.

For small, emerging brands, instagram and its’ band of influencers “get stuff out there” but do they really achieve anything more? How do you know who really is watching, reacting and buying? How can you easily capture the data, turn it into information, and information into powerful knowledge you can apply to key strategic decisions? Let’s be honest it is “guesswork marketing”.

Why wouldn’t you if you were a small brand focus on, who your ideal customers are, who they listen to, who they admire, what they read and where they hang out? Armed with that information raise your “voice” and embrace multimedia with stiletto-like marketing spend (word of mouth, networking, speaking, publishing and hosted events).

I mean how many times do you meet someone, who says in response to a flattering comment, “I saw this amazing product or service on the Instagram page of a nobody in Orange County, and thought that is cool, I’ll go and buy it?

Just because Instagram influencers with fake lists of 5,000 or 50,000 followers convince you their medium is your priority, if you are a small, high-growth brand owner wouldn’t you want to maximise your control and power over engaging with your ideal demographic?

Accidental sales don’t count. Prioritising resource where real business lies with some degree of certainty does – “probabilistic marketing” – rather than relying on individuals with zero credibility. Just because it is “cheap” doesn’t make it a valuable use of your time, money and energy.

Digital Presence and Present

Wednesday, January 23rd, 2019

If you consciously maintain a “digital presence” and seek to be “present” in the lives of those who matter most to you (business clients, colleagues, friends, family and interest groups), why do you cease to be original or relevant? I have to laugh when I see people retweeting or posting to their LinkedIn or Facebook followers, a David Bowie BBC Newsnight interview from 1999 on the disruptive influence of the internet for the ten thousandth time, as if by association, “they” have something to say of earth shattering interest. I speak as a Bowie fan.

Surely the point of a “digital presence” is to create the simplest and therefore the fastest way, for others to gain “access” to YOU as a person and/or your business. Secondly for YOU to be digitally, if not physically, “present” with something compelling, relevant and valuable to contribute to the life they wish to lead today, and in future, not two decades ago!

On the other hand, perhaps this whole “digital presence” mularkey is just a euphemism for a year long cocktail party and showing off to vacuous friends, clients and work colleagues about the life they so wish they had, nothing more?

Anonymity

Thursday, December 6th, 2018

I am always reminded of the Oxford English Dictionary definition of anonymity when I receive requests from anonymous sources, those insistent on quoting anonymous sources or those who refuse to identify themselves on social media: “the lack of outstanding, individual, or unusual features; impersonality.”

When Everyone is a PR

Monday, November 5th, 2018

Productive Content

I walked into a countryside pub recently and I saw a guy attempting to play darts, missing the entirety of the dartboard frequently, endangering bystanders and very irregularly hitting the required number. My first thought was “give yourself a break, get a new hobby”.  It reminded me of countless number of people daily posting their musings on LinkedIn, Facebook or Twitter or issuing press releases, articles, and self-authored content. Aimless content disappearing into the ether of self-congratulatory irrelevance. Time really is precious.

If you want to “play”, be very sure who your target audience is (specific traits), aim where they demonstrably hang out and engage with others (publishing forums), and be clear what response you want to elicit (provocation, engagement, seen as a peer or thought leader). I am not suggesting you keep score of every piece of your content’s impact (futile activity), what I am suggesting is you ask yourself is this time well-spent given my immediate priorities? Be honest.

Friends Reunited

Friday, October 6th, 2017

The squirrel in the garden this morning made his usual tour of the more verdant patches of the garden but on his way home, he made a stop at a less verdant area that was once one of his favourite hunting grounds. Turning over a few empty conker nut shells, he found a couple of worms drawn to the surface by the increasing cover of autumn leaves and increasing soil moisture. It reminds me in business, how easy it is to forget the converging value that lies with past friends, past school and university acquaintances, past customers, past investors, past employees, past business partners, past media contacts and so forth, who we have ignored for a good few years. Yet circumstances change in some of theirs and our lives causing our interests to increasingly converge rather than diverge. Yet for most people that is an accidental occurrence. In a world with greater connectivity, there is no real excuse unless you are poorly disciplined. My advice, on a quarterly basis throughout the year, trawl through 2014 and prior email inboxes, client and prospect files, personal photo storage boxes or albums. Write down a list of 40 names. Over a gentle two hours, perform a maximum 3-minute google or social media search, highlighting those that are of “known” and “questionable” converging value. Make a diary note to call the top half of your list (“knowns”), and at a minimum, drop a brief four sentence “re-connecting” email to the rest.

Explain that “I’ve been remiss in keeping in touch but I heard/read/saw something of interest (new job announcement, award, an interview) and thought it might be an opportune time to talk? Recently, I have undertaken ____ assignment/project/deal/experience with ___ (high relevance to the other party)  and it reminded me of our past relationship. I would love to hear your news and what you are priorities are today and share my news.  I am in your neighbourhood visiting clients/friends on dd/mm, would you have 30 minutes or time for coffee/breakfast or lunch?”

If 50% respond, you have 20 people of interest. If you are accurate with 50% in terms of their mutual interest, you have 10 new people of short-term interest. Meet two of them a week, you have 10 valuable relationships to nurture over the next month, where you at a minimum start with some meaningful trust, past affiliation and a discernible interest in how you might be of help.

© James Berkeley 2017. All Rights Reserved.

Social Media: The Investors Perspective

Wednesday, February 1st, 2017

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I get asked by investors about the role of social media in stimulating the profitable growth of mid-market business-to-consumer and business-to-business targets seeking growth capital. My default response is ‘why does someone want to share their video, tweet, blog? Then, how does it help them (entrepreneur) and you (investor) achieve your goals in the next 12 months?’ If you don’t have a compelling answer to that question, it is probably a waste of time and going to have zero impact on the firm’s growth. Review any YouTube, Twitter, Instagram or Facebook listing of most popular videos, tweets, images or blog posts and there is always that one thing that made people share it. That is the secret sauce. The son of one of my old bosses, Sam Tsui, an American songwriter, has had incredible success attracting 2.5 million subscribers to his YouTube channel. Sam is talented (Yale-educated). He possesses a great voice. He has learned to leverage the medium with great effect (singing duets with himself) in order to create a strong brand.

However, sharing alone is insufficient for Sam and the businesses I describe because there is no taste or noise filter, think of profane rants from soccer fans, product disasters and compromising personal photos, dressed up as “comedy” or black humour.

There needs to be a “gravity” pull for your target audience and a reason to keep returning. That requires volume, value and consistent messaging (“VVM”) to create engagement. Paid promotion works to raise “conscious” awareness of your product or service for a millisecond but it does little to stimulate someone to act (subscribe, make the call, visit the store, buy). So long as you put the marketing investment in the appropriate context, there is little to worry about but you must be willing to be intellectually honest about the results.

© James Berkeley 2017. All Rights Reserved.

 

Social Media in a High Growth Market

Thursday, April 10th, 2014

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James helps the profit centre head in a high growth market understand the impact and priority that should be given to social media juxtaposed to other traditional marketing activities. Technology is rapidly accelerating people’s lives and customers want an emotionally-satisfying experience.  In this podcast, learn how to separate fact from fiction and hard business results from unsubstantiated beliefs about the efficacy of social media.