Web 2.0 Multichannel Marketing Considerations

Digital Trends is a big topic and this post really goes through a substantive analysis of Edleman’s recent predictions.

The digital train is tearing down the tracks and has no signs of slowing. Every industry is being reshaped by the expectation that everything should be digitized. Add digital hungry consumers with web devices, NetPCs, Kindles and smart gaming consoles and you’ve got a multichannel marketing and distribution train wreck.

Multichannel marketing considerations will certainly be primary this year as fragmented consumer relations with brands accelerate. Thus, firms like SAP have begun tracking social media interactions. Despite the inherent trackability problem presented by fragmented brand interactions with consumers, firms are either “in” or “out” of the social media space. And it seems evident to me that firms should be “in”, as this report on how telecoms use social media demonstrates; given this, here is a list of great tips list for creating content that spreads.

Viral is Dead, Let it Spread Instead

Real estate firms that are thinking about implementing social media marketing strategies should pay attention to Charlene Li‘s predictions. Li’s series of five interviews paint a road map of the social media future firms ought to be considering today:

melded identities

 

social algorithms (see also my earlier post on trust indicators in social networks)

open platforms

privacy and permissions

organizational trust

Her thinking mirrors that of Henry Jenkins, Director of the MIT Comparative Media Studies Program, who essentially argues in his white paper “If it doesn’t spread, it’s dead” that marketers need to shed the terms “viral” and “memes” and adopt “spreadability” as a benchmark.

What Jenkins points out, and Li implicitly endorses, is that humans are not passive hosts that propagate marketing messages. Rather, humans take an active roll in transferring and transforming marketing messages. Thus, marketers need to rethink their approaches to conceiving of, executing on, and managing marketing campaigns by migrating away from command and control modalities to adopting more of a marketing midwifery role.

I think that Li’s and Jenkins’ thoughts also pertain to CRM definitions. Let’s shed the agri-centric CRM labels like “cultivate,” “nurture,” and “harvest” for terms that recognize a consumer’s role in allowing themselves to become part of a CRM system, rather than passive victims of that system. Terms like “engagement,” “conversation,” and “partner” align with Li’s and Jenkins’ sentiments, seem more respectful of an individual’s role in a CRM system, and are reflective of the fact that consumers are active participants in a firm’s “relationship management” processes. And assuming that a firm’s client services division performs at high levels of consumer satisfaction, this ethos shift also has the potential to empower “engaged” consumers to spread the word of a firm’s client services successes (much like Li relates in her Comcast example in the above “organizational trust” interview).

Twitter Please Believe the Hype

Here’s an interview about Twitter with a friend of mine who owns a manufacturing plant in Northwest Chicago. Of course, I was evangelizing the incredible value, benefits, and just awesome coolness of Twitter, but he was a little skeptical…

I think Tom has good advice. It’s easy to get caught up in a Gartner hype cycle, becoming fascinated and enthralled with a technology and thinking it’s value resides simply in its sheer technical coolness. This said, I’m still convinced Twitter is one of the best applications a real estate firm and agent can use to build their personal brand as well as eventually drive transactions. UPDATE: Check out this NYTimes article on the power of Twitter.

In a similar vein I’m having much more meaningful conversations and interactions over Twitter than via telephone and email. I think it’s because Twitter forces you to think crisply and communicate with brevity, mirroring “live” conversations in a way. And in thinking again about ‘ol Notorious’ recent post, it’s this aspect of Twitter–and other social media applications in general–that make it (them) such huge brand-building tools.

Top down branding campaigns are typically forced on consumers like geese trapped in a foie gras factory, delivered in 15 second to 30 second snippets that really don’t change that much. Whereas social media relies on relationships that naturally evolve over time. And it’s this aspect of social media–its repartee–that allows a brand to develop a “personality” that a consumer can choose to befriend. Assuming a consumer remains engaged and interacting with a brand under these circumstances, it stands to reason that consumer affinity and loyalty with/to a brand would be higher than with/though traditional media campaigns.

Theatre of Cruelty in a Carnival of Real Estate

What’s the value of a real estate firm’s or agent’s service? What actions justify a firm’s or agent’s fees? I’m contemplating these questions as I re-read “The Theatre and Its Double” written by Antonin Artaud, and some of what he says in his writing has a certain philosophical resonance with respect to the current state of affairs in the real estate industry.

Artaud was an early 20th century French playwright. He challenged existing theatrical norms of his day to strip away historical groundings with respect to performance (which he generally thought were overproduced parodies of themselves) and show a more honest–transparent–personification of character, thought, or theme, where the actor is the ultimate provocateur of an honest dialogue with her audience, whilst producers and directors contentedly cling to the status quo. In Chapter 6, “No More Masterpieces”, Artaud states:

Far from blaming the public, we ought to blame the formal screen we interpose between ourselves and the public[.]

He continues at a more sublime level:

Enough of personal poems, benefitting those who create them much more than those who read them.

Theatre changed for the better after Artaud’s call to action. Similarly, it seems to me, the real estate industry is due for an Artaud-like challenge to existing norms with respect to representation, compensation, and professionalism. The run-up to 2009 was indeed a real spectacle, but the tent has fallen, the elephants have flattened the performance space, and the audience seems to have run away. Indeed, many have written about the current state of affairs.

But here are perhaps two of the the clearest calls to action to change the status quo–two honest evaluations of the state of affairs with respect to the relationship between real estate professional and consumer. Neither author engages in finger pointing, tries to push off responsibility, nor cringes from the challenge to ask hard questions and honestly answer these questions.

Rather, there is a recognition that the forum has changed, that same old lines fall on increasingly calloused consumer ears. Indeed, the authors’ challenges to the “old rules” of relationship and dialogue between real estate professional and consumer especially resonate when one of these authors had a consumer click through to his blog from the search “buyer’s real estate commission myth“. Clearly this consumer was seeking a different type of relationship with a real estate professional. And, with respect to the norm, this author’s blog post presented an honest–and transparent–alternative conversation. 

Thus begins a few hammer blows to the status quo.