How Are You Using Social Marketing Management Tools?

Melissa Parrish

Back in April I published a report called Take Control of Your Social Marketing, which looks at the emerging market of social marketing management tools.  In it, I identified three groups of these tools: the social publishing platforms, the social promotion builders, and the platforms that focus on both. 

In the two brief months since that report came out, the volume of questions I get about the topic has skyrocketed.  I can’t say this is surprising, as our own research is showing that many marketers are reaching a level of social marketing maturity at which tools like these can greatly increase the efficiency and success of their programs. There’s also been a lot of press coverage of the moves, changes, and announcements coming out of the vendors in this space, which has undoubtedly raised the profiles of these companies with marketers. 

  • In January, Vitrue, a company that falls into the “concentrating on both” category and which wasn’t able to participate in the original report, announced the closing of a $17 million series C financing round.
  • In February, Syncapse Corp.  made its own financing announcement -- an investment commitment of $25 million.
  • In March, SocialWare announced a partnership with LinkedIn that brings its regulatory compliance expertise and tools to the professionals’ social network.
Read more

Categories:

Join Forrester’s Tweet Jam About The Social Media Ecosystem: June 7th (Today!) At 2 pm Eastern

Melissa Parrish

It’s Tuesday -- and that means it’s time for another installment of #IMChat, a weekly tweet jam hosted by the interactive marketing team at Forrester. For today’s tweet jam, we’ve invited Shawn Shahani (@shawnshahani) from iCrossing to talk with us about challenges and possible solutions for companies with large and complex social presences.

Here are some of the questions we'll be discussing:

1)     In which social networks does your company currently maintain presences?
2)     How are you using these social media properties differently?
3)     Do you have multiple presences within a social network?
4)     How do you separate multiple presences? Geography, brands, job function?
5)     Who manages different social media presences and properties?

To participate, just follow the #IMChat hashtag at 2:00 p.m. If you’d like to learn more about the rules of engagement, visit this community discussion on The Forrester Community For Interactive Marketing Professionals. To read some past archives, visit the documents section of the same community.

Looking forward to hearing from you at 2 p.m.!

Marketers Should Cut Ad Budgets To Thrive In The Age Of The Customer

Shar VanBoskirk

At least once a week I get a client inquiry wondering what is "the next big thing in interactive marketing," seeking to identify what will out-tweet Twitter or out Goog Google.  Well, in his new report, Competitive Strategy In The Age Of The Customer, my colleague Josh Bernoff articulates what is next for all businesses: A disruptive shift, where the power of customers means that firms must focus on the customer now more than any other strategic imperative.  In fact, the only source of competitive advantage is the one that can survive technology-fueled disruption — an obsession with understanding, delighting, connecting with, and serving customers. In this age, companies that thrive, like Best Buy, IBM, and Amazon, are those that tilt their budgets toward customer knowledge and relationships.

See Josh's post Welcome To The Age Of The Customer: Invest Accordingly for detail on how the Age of the Customer disrupts established competitive strategy.

The zinger in this report for interactive marketers is to: Prioritize word of mouth over mouthing off. Cut your ad budget by at least 10%, and spend the money on connections that have a multiplier effect like social, devices, and content. Ads are far more effective when customers are primed to believe them.

This means that interactive marketing of the future is really focused on interactivity -- not just on pushing out marketing messages through digital channels.  Three ways to get started creating more interactive marketing relationships:

Read more

The Art Of Listening

Kim Celestre

"It is the province of knowledge to speak, and it is the privilege of wisdom to listen" - Oliver Wendell Holmes

I had the privilege of wisdom to listen to many individuals from various B2B and B2C companies last week at the Forrester IT Forum in Las Vegas. One of my favorite aspects of my new analyst job here at Forrester is to meet with tech marketers and hear about the creative ways many of them are using social media to deliver customer value. The individuals I had the pleasure to meet at IT Forum last week certainly did not disappoint, and these discussions were the highlights of my time spent in lovely downtown Las Vegas (insert sarcastic tone here for I am not a big fan of Las Vegas).   

A few key takeaways I had from IT Forum were the following: 1) The lines that once divided B2C and B2B are beginning to blur; 2) Companies are looking for new and improved ways to obtain deeper, more meaningful engagements with customers; and 3) Social media continues to be an area of focus for many companies, albeit many are looking for more effective B2B social media channels, i.e., in addition to Facebook and Twitter.

That said, some of the research I will be conducting in the upcoming months will touch upon each of these topics. I would love to hear your thoughts on your B2B social media strategies! I am here to listen, after all ;-)

Mobile Is Bridging The Digital And Physical Worlds: It Is Time To Invent New Product And Services

Thomas Husson

Google’s product strategists just announced the launch of Google Wallet — an NFC-based mobile payment solution. As my colleague Charlie Golvin pointed out, this is another early salvo in what will be a long and hard-fought battle to change consumers’ payment behavior and, as a potential result, the makeup of the payments landscape.

We have covered this issue in more detail in a new Forrester report “Google Wallet Is Not About Mobile Payments.” Clients can access the report here.

Given its core search business and ad-based revenue model, why would the company make that investment? Because Google’s product strategists’ focus is not on the payment itself; it’s on all of the other elements that comprise a commerce experience and the data that characterizes those elements.

Indeed, appending real-world purchase information to its treasure trove of online behavioral data will vastly increase the value of customers’ profiles and increase the rates Google can charge its advertisers. It will be a way for Google to increase its local presence. NFC is too often equated simply with payments, but Google understands that NFC tags have broad application (working like Quick Response [QR] and other 2D barcodes do today). Google can help retailers use NFC tags for in-store promotions and check-ins, augmenting the understanding of customer behavior for ad targeting.

Read more

Guest Post: James McDavid On Mojitos And Minimal Techno At 35,000 Feet

Nate Elliott

Our London-based Interactive Marketing Research Associate James McDavid chimes in with this great tale of how listening to and embracing your fans in social media can create powerful word-of-mouth marketing:

As every dance music aficionado knows, Miami is the place to be every March as it hosts the Winter Music Conference (WMC), an event that brings together leading lights from the industry to party, share records, and make fun of Paris Hilton. So when Dutch airline KLM announced they'd be launching a new route between Amsterdam and Miami at the end of March 2011, a couple of Dutch DJs tweeted KLM to see if the airline could move the flight forward a week to coincide with the WMC. The DJs claimed that they could fill a flight from Amsterdam to Miami solely with revelers and ravers. KLM, seeing a great opportunity to show off their social savvy, offered the DJs a challenge — if they could get 150 people to register in seven days, then KLM would move the inaugural flight forward — and, as a bonus, let the DJs spin some records in the cabin.

Read more

Join Forrester's Tweet Jam About YOU: May 24th (Today!) At 2pm US Eastern

Melissa Parrish

As you may have seen, for the past two weeks we’ve run a tweet jam called #IMChat. Our first two topics, CORE and social influence, were well received but really about what Forrester folks think is interesting. So it’s time to turn the social media table around. What are you interested in? What do you want to talk about with your peers?

To participate, just follow the #IMChat hashtag at 2:00 p.m. If you’d like to learn more about the rules of engagement, visit this community discussion on The Forrester Community For Interactive Marketing Professionals. To read some past archives, visit the documents section of the same community.

Here are some of the questions we'll be discussing during today’s tweet jam:

1.       What digital marketing initiatives are most important to your success within your organization?

2.      What digital marketing initiative causes you the most headaches? Why?

3.      What resources do you currently use to find answers to your digital marketing questions?

4.      How do you utilize digital marketing peers in your day-to-day decision making? Are they external or internal resources?

5.       How do you utilize third-party vendors and agencies in your digital marketing programs?

Announcing The 3rd Annual Forrester B2B Groundswell Awards

Kim Celestre

[Co-authored by Zachary Reiss-Davis]

Welcome to the kick-off for the third annual Forrester B2B Groundswell Awards! We’re excited to again read all of your great submissions and examples of innovation in B2B social media marketing. 

Josh Bernoff, one of the original authors of Groundswell, already wrote a great blog post highlighting the history of the awards that I encourage you to go read. 

For the past two years, we highlighted the B2B winners in:

Best practice research reports . . .

Read more

From Social Media Marketer To Social Media Analyst...

Kim Celestre

I am absolutely thrilled to publish my very first blog as a Senior Analyst here at Forrester and am looking forward to providing you with a lot of exciting research and thought-provoking insights on what continues to be a hot topic in the technology industry: Social Media in B2B. As many of you know, social media is evolving at a very fast pace, and one of my goals is to keep you posted on the latest trends we are seeing and how you, the tech marketer, can utilize these insights to create effective social strategies for engaging with your customers. 

How did I wind up here at Forrester? Well, prior to joining the talented TI Tech Marketing team in April, I spent 14 years at Sun Microsystems, working in various senior marketing roles. I was fortunate enough to lead some pretty groundbreaking campaigns that utilized social media and other emerging marketing tactics. These projects ranged from executing basic marketing strategies using blogs and YouTube to very complex, multi-faceted social media campaigns to drive new product adoption for Sun's software and Java product groups. Lots of fantastic stuff that is worthy of a separate blog post!

After Sun was acquired, I spent the past year at Oracle as a Global Campaigns Manager responsible for Java, cloud computing and enterprise architecture initiatives, where social media was also a big area of focus for demand generation activities. A few months ago, I was presented with an amazing opportunity to join the Forrester team, and, to make a long story short, I have now hit the ground running with a very rigorous B2B social media research agenda and a speaking engagement at next week's Forrester IT Forum in Las Vegas. 

Read more

CORE Lessons From Best Buy, ING And IBM

Shar VanBoskirk

Last week I joined Matt Smith, VP of Marketing Services from Best Buy, Kim Verhaaf, director of Customer Intelligence at ING, and Matt Preschern, VP of Demand Programs for IBM, for a keynote panel: "Marketing Innovation in Action: How Being Adaptive Can Help You Innovate," at Unica's Marketing Innovation Summit.  To structure the panel, I introduced Forrester's CORE framework. If you're not yet familiar with CORE, its our mission that interactive marketers should adopt to help their firms adapt to the next digital decade. See a summary of the topic here or our research on The Future Of Interactive Marketing for a deep dive. 

Smith, Verhaaf and Preschern talked about the efforts they have underway to help their firms customize marketing experiences, optimize decisions and processes, respond to changing market conditions and empower employees and customers to advocate on your behalf. They raised some great points for interactive marketers to consider as they undertake CORE:

Read more