The New Marketplace (Part 2)

By Kyle McCabe | April 20, 2010

I wrote previously about my experience at OTA Sessions a few weeks ago, and highlighted some of the topics discussed. It all boils down to changes in the way we do business; whether you like it or not, these changes are occurring.

In this (holy crap it’s long) article I am going to outline what some of the speakers at OTA Sessions said about how to approach this new marketplace–and the new “consumer”–we’re faced with.

Social communication isn’t new

While social media like Twitter and Facebook are new, they are simply vehicles for an activity we’ve always engaged in. Humans are fundamentally social and always have been. We are drawn to each other and impelled to communicate and belong to social groups; something greater than ourselves.

The difference now is the marketplace is shifting to media through which human interaction is enabled–necessary, in fact–rather than muffled or disabled.

Here’s what our speakers had to say about approaching and succeeding in this new communicative, interactive marketplace (again, with commentary not meant to reflect what each speaker said, only my own conclusions):

Mitch Joel:

• Instead of focusing on numbers, focus on WHO your audience is
  The quality of the audience matters more than the quantity–that is, I’d rather speak to one person who is in need of my services than ten who aren’t. Likewise, I’d rather speak to one person who knows ten people who need my services than 100 who know  none.

• Think of new ideas and tech as “along with” not “instead of”
  Your audience is fragmented. Don’t abandon traditional platforms for “new media” – use them together to get the most out of both.

• Google is the gatekeeper: SEO is critical–every page should be the homepage
  Google search results can often be a person’s very first encounter with your brand. If you’re not paying attention to search engines you have zero control over what a person might see in search results, whether it’s a negative review or a competitor. SEO can give you some influence in that arena.

• You can’t create or “get” community, you earn it over time
  Don’t approach social media with the idea that if you provide a platform (like a fan page or discussion board) people will automatically flock to it. Building a community is a long process, and it’s hard work. If you expect to gain the benefits of belonging to a community, you have to put genuine effort into it.

• Negative reviews have been shown to convert better than positive reviews
  Here’s an eye-opener. One of the biggest barriers to entry in “social business” is fear of negativity. But contrary to this natural fear, we’ve seen negativity become an opportunity for people and businesses. Think about how YOU research purchases. Do you read user reviews? Which ones do you read?

Julien Smith:

• “Touch the burner”
  Experiment and explore, expand your knowledge and understanding. Try new things, take risks, learn.

• Hype dies, but building a community through interaction lasts
  A TV spot can generate “consumer” interest, but it dies quickly. The whole point of online is interactivity; human relationships, community. If you’re not using that to your advantage, but simply moving old tactics into the web world, you’re missing the boat.

• Build your community before you need it; when you have need it will be there
  On the other hand, don’t focus on community–this group of people–as a means to your end. YOU are part of THEIR community, too.

• Think about “social capital” and facilitate the exchange–always say “yes”
  The point here is to be helpful. Helpfulness is unlimited currency–don’t hoard it.

• Pattern breaking creates emotional responses; break someone’s pattern and get a reaction
  Don’t exclude yourself from this either. Part of taking risks and experimenting is breaking the patterns you’re locked into. Do something crazy.

Chris Brogan:

• See people for who they are (“If you talked to people the way advertising talked to them, they’d punch you in the face” – Hugh MacLeod)
  Talk to people like a marketer and they’ll tune you out. Talk to them like people, be interesting and interested, and you’ll be starting a real relationship.

• “Be there before the sale”
  Success in this marketplace relies on being helpful to people, not just trying to sell them as much as possible. Be genuine; stop manipulating.

• Three aspects to social media: Listening, Connecting, Publishing
  I would add “measuring” to this, but the point is you have to really listen these days. You have to REALLY connect. And on top of that, you are now a publisher. Think about that.

• Stop asking “what” and start asking “why”
  Asking “why” helps clarify underlying goals and keeps your activity focused on those goals. Ask not which social media platform you should be using, but ask why you want to be active in social media in the first place.

Spike Jones:

• Everyone wants to jump in and start executing. Where’s the goal? Where’s the strategy?
  With respect to social media this is true. it does little good to be active in this space without knowing why you’re doing it. If you don’t have a goal, you can’t succeed.

• “Social media” is just another tool; the difference is in your approach
  We’re emerging from a half-century of some pretty bad marketing, in general. Yet good marketing hasn’t changed. These new medial let us be good marketers again in this urbanized, global marketplace.

• Campaigns vs Movements
  Similar to Julien Smith’s “hype vs community,” this distinction is rooted in the meeting of different marketing paradigms. Where campaigns are me-focused, movements are people-focused. Campaigns are about a product, movements about a passion. Movements have a high barrier to entry (only passionate people need apply), have inspirational leadership, empower people, share ownership, and elevate advocates. This is community building.

Tim Brunelle:

• Burn the ships
  Tim related the story of Cortez and conquest of Mexico, during which Cortez burned (actually scuttled, apparently) his ships to preempt any retreat, and likened this to the way we should approach this new marketplace: there is no retreating, no going back to the way it was before.

• Experiment all the time
  You don’t innovate by doing the same thing over and over without adding anything new.

• Hybridize: seek multi-dimensional people
  I found this incredibly interesting. As a “hybrid” myself, I can see the merits both from the personal and professional/business perspective. But are we looking at the death of the specialist? Is that a good thing?

• Curate content: highlight content relevant to brand and encourage/empower those advocates
  The mass of information that exists online – and the constant deluge of new info – dictates we have some sort of filter in place to sort the wheat from the chaff. “Content Curation” is going to be the Next Big Thing.

Jonathan Harris:

Not to leave Jonathan out, but I just can’t seem to put what he had to say into bullet points. Check out his interview at OTA Sessions, or just explore some of his projects.

Neat little package?

The last century has seen us erect pillars of mass marketing that cut off the speaker from the audience and elevated the message above all (classical rhetoric, anyone?), effectively disabling communication and enabling the stuffy, inhuman “message/consumer” mentality we have. The next 10 years (less?) will see those pillars crumble into dust. The “consumer” is now a person, thinking and acting, able to see others for what they are rather than what they say they are. We’re getting back to real marketing, something fueled by social communication and personal interaction.

So change your thinking. Take risks. Touch the burner. And if you’re still unsure about all this new media stuff, look toward the beach: the ships are burning, friends. You’re stuck here whether you like it or not.

–

Image courtesy of Hugh MacLeod

Thanks for coming back! We'd really like to hear what you think of this post, so don't be shy with the comments!

---

---