The Power of Community in Social Media ~via @GenFabulous

by  on July 11, 2013 in Coffee with ChloeGenFabTVSocial Media – VIDEO interview below

Last year at BlogHer I had the chance to meet Ted Rubin, co-author of Return on Relationship, in person, but didn’t take it.http://www.youtube.com/watch?v=TTm5jhlYhTs&feature=player_embedded

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Dear [insert business name], what’s your promise?

You say you want to get closer to customers, but your actions are different than your words.

You say you want to “surprise and delight” customers, but your product development teams are too busy building against a roadmap without consideration of the 5th P of marketing…people.

Your employees are your number one asset, however the infrastructure of the organization has turned once optimistic and ambitious intrapreneurs into complacent cogs or worse, your greatest detractors.

You question the adoption of disruptive technology by your internal champions yet you’ve not tried to find the value for yourself.

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An Open Letter to Media Publishers and other Business Leaders

Dear Publishers and business leaders,

Your business is dying. You know it. Your readers know it. So what are you doing about it?

The belief that the Internet was the death knell of print – and maybe even cable news – was a bit of an exaggeration although your revenue statements clearly show it’s had a major impact.

I’ve seen attempts to move content online via tiered, paid subscription models, which clearly isn’t working to reverse your financial fortunes. I’m thinking you’re all sending Apple Christmas baskets to thank them for the iPad, which – for a time anyway – has enabled the sale of content via Tablet magazines. Still, adoption for paid digital magazines on tablets is a far cry from the heydays of the print publishing industry.

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Is Community Management Dead?

Has the relevance of the community manager already come and gone? Just four years ago, it would be difficult to name a company that employed someone to grow and nurture their communities. Today, it would be equally as difficult to name a company that doesn’t.

As you read this, hundreds of community managers are taking to their TweetDecks and HootSuites to manage social media outreach and engagement. So, is community management really dead? Perhaps not altogether, but the narrow definition of it, which has been used in the past four years, most definitely is.

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The Extraordinary Revolution of Media Choice

In the traditional model, you can only play one program at a time. One radio show or one movie or one show…

Scarcity of spectrum has changed just about every element of our culture. Scarcity of shelf space as well.

There are just a few radio stations in each market, and each station gets precisely one hour to broadcast each hour. Scarcity of spectrum, inflexible consumption (listen now or it’s gone forever).

There are only a hundred or so channels on most cable systems. Each viewer is precious and you can only program one show at a time. So program for the largest audience you can find, because that’s how you get paid. Share of viewership is everything.

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The game theory of discovery and the birth of the free-gap

It all started because of the discovery problem.

Too many things to choose from, more every day. No efficient way to alert the world about your service, your music, your book. How about giving it away to help the idea spread?

The simplest old school examples are radio (songs to hear for free, in in the hope that someone will buy them) and Oprah (give away all the secrets in your book in the hope that many will buy.)

There’s a line out the door of people eager to spread their ideas, because in a crowded marketplace, being ignored is the same as failure.

Most people, most of the time, don’t buy things if there’s a free substitute available. A hundred million people hear a pop song on the radio and less than 1 percent will buy a copy. Millions will walk by a painting in a museum, but very few have prints, posters or even inexpensive original art in their homes. (In the former case, the purchased music is better–quality and convenience–than the free version, in the latter, the print is merely more accessible, but the math is the same–lots of visits, not a lot of conversion).

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Customer-centricity Begins with Creating a Culture of Change

Customer-centricity or getting closer to customers is often the focus of many executive meetings I attend these days. The question always arises, “how can we use new media to get closer to customers?”

The answer is not, develop a social media strategy to start engaging with customers. The answer is, change. Any organization that focuses on operations, margins, and efficiencies over customer experiences will find itself unfavored by tomorrow’s connected customer. It’s difficult to see the customer or empathize with them if you’re focused on a spreadsheet. It’s impossible to change if you can’t see what it is they value.

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The Dilemma’s Innovator: Innovation and Change as the New Pillars of Business

If necessity is the mother of invention, then perhaps imagination is the source of innovation.

In December 2010, I was given the opportunity to write the cover story for Entrepreneur Magazine. The article, “Change: Lessons on What’s Next,” explored the innovation behind three (well four) companies — Foursquare, Square + Twitter, and Zappos. Throughout the years, I’ve had the opportunity to spend time with Dennis Crowley, Jack Dorsey and Tony Hsieh. And over that time, I’ve observed inherent traits that I believe represent the future of business and how companies engage with customers to create a more adaptive and connected infrastructure to compete for the future.

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