Early Adopter Effect & It’s Implications for Non Mega-Brands

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A few weeks ago I read an interesting study by Business Insider about brands that “get there first” (so to speak) when it comes to new social networks.

They found that there’s a positive relationship between being an early adopter and a brand’s audience size. Basically, the brands who created their profiles on a new social network the fastest also tend to have the most followers.

It makes sense – the longer you’re on a social network, the more time you have to accrue more followers. But, there’s much more to the story for bigger brands.

  1. Longer Lead Time - The big brands who are first the game likely already knew the network was about to launch. Their agency partners or higher ups probably have met the owners, or have been told about the network by a rep in anticipation of future ad dollars. Because of these relationships, bigger brands have more lead time to think about the network and a strategy that aligns with their goals and other efforts. This way when a mega-brand creates one of the first branded profiles, it looks good and it makes sense, which translates into better engagement with users and…..more followers!
  2. Press – Once a company creates one of the first brand profiles on a new network, the digital presses go crazy. Is it good? How are they using it? Is it used correctly? The commotion is endless. I like to call this the “early adopter” early adopter effect. All of us social, techy, digital, UX people flock to see it. We gaggle over it. Then we write articles about it, sharing our opinions about whether it’s the right fit for the brand or the network or both. The more articles we create, the more traffic is  driven to look at that brand’s profile. And, thus, the more attention and followers the brand builds.

So how can you compete with these massive brands?

  1. Read, Read, Read. Keep up to date on new startups & tech news, so you can try to predict the next new thing.
  2. Dive in, personally. Get the app, make your own profile, and be a part of the community as an individual. This experience will really give you the insights you need to figure out how this network may be used to connect your brand and its consumers.
  3. Create Cross-Medium Social Strategies. When you create social strategies, don’t think about how it lives on one social network, think about how it lives as words, images only, videos, etc. This way when a new medium is created, you’ve already got some way to imagine how to use it.
  4. Be agile With Existing Content. No one ever said you must reinvent the wheel when a new network launches. Instead of thinking about sourcing new content, think about how this technology serves to make your existing story or strategy come to life? Then think about what content you already have that can be altered in some way to work for this network. #makeitwork
  5. Get Buy-In Early On. If you want to take advantage of this “Early Adopter Effect” you need buy in on this type of approach from your higher ups (or from yourself, as the case may be). This will give you the excuse you need to prioritize reading about the network, being a part of the network individually and figuring out how it fits within your strategy. You need to be able to drop everything in order to play catch up with the bigger brands who have a leg up. And in order to drop everything, you need a quick approval process…or none at all.
  6. Agency Partner. No matter how big your brand is, it’s always good to have a relationship with, or an ally at, an ad agency. The good ones make it a part of their job to know everything there is to know about new & emerging social networks. When you combine that knowledge with creativity and an intimacy with your brand and your brand’s social strategy, the turn around on an amazing new social presence can happen with just one call.


Are you an early adopter when it comes to social media?

Allie db&r social media specialist

I’m Six Stories Up at db&r

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Allie db&r social media specialistIt has been such a long time since I’ve posted on socialallie.com. Shame on me! Here’s the deal – Most of my blogging efforts are now through db&r. As their Social Media Specialist, I curate and write for our blog (sixstoriesup.com). I’m still writing!

So, while I think about my next post exclusively for socialallie.com, I thought I’d share some of the most recent blogs I’ve posted for db&r.

It’s All Relative – Social Media Engagement To Stand The Test Of Time | Nov. 6, 2012
Today, I turn 26 years old. Maybe you think I’m pretty young… or just maybe you’re thinking that’s the perfect age (and I’m hoping this is the case!). As I prepared for a simultaneous election and birth-day, I began reflecting on what it means to be 26 in a “social” world: how has my social media use changed over time; how do I use use social media differently from my parents, my older sister, and my co-workers; and most importantly for us at db&r, what does all this mean for social media marketers? Continue Reading…

Must-Read Posts: Presidential Debate, Social TV, Social Style, Pinterest & More | Oct. 18, 2012
It’s been a busy week (well, couple of months really) here at db&r. Even still, we always make time to stay in touch with the latest online conversations. Here are some of our favorite blog posts, articles, or videos from the week so far: Continue Reading…

Five for Friday: 5 Mac Memories in Remembrance of Steve Jobs | Oct. 5, 2012
It’s exactly one year after one of the greatest innovators of our time passed away – Steve Jobs. When we realized it had already been a year since he passed, we had nothing but memories of our first interactions with Apple. So, for this week’s Five for Friday we pulled together our first Macintosh memories. Continue Reading…

Myspace Redesigns & Repositions: New Myspace Features [Slideshow] | Sept. 27, 2012
A few days ago Justin Timberlake tweeted a link to what I call “the little video that could,” which recaps the new Myspace design as well as some of its functionality. This video has the whole social media world tweeting up a storm. And why? Not just because of its “sexy” design. It’s how the brand seems to be repositioning itself as more of a partner to Facebook and Twitter than a replacement. This move could potentially allow the network to penetrate the mass market…quickly. Continue Reading…

Google Reader & Marketing Your Brand: Why & How to Use RSS Feeds & Google Reader | Sept. 10, 2012
Google Reader has been around since a beta was launched in Google Labs in 2005 – I first started using the service about three years ago. But I’ve discovered that not everyone understands or is even aware of what Google Reader is, let alone how to use it for marketing purposes. So here’s your guide to using Google Reader as a marketing tool. Continue Reading…

Demystifying Facebook Advertising: 9 steps to optimize your Facebook ad campaigns for success | Aug. 14, 2012
Ever since GM pulled its ad dollars from Facebook back in May, there’s been a ton of conversation around the worth and effectiveness of Facebook ads. When Facebook became an IPO, the controversy continued. Now the question is not only whether Facebook advertising justifies a major ad spend, but are also whether Facebook will even be around in a few years. Continue Reading…

Social Media Analytics: Effective Tools for Building, Interpreting, and Using Metrics

How to Measure Social Media ROI – by yourself

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ROI (Return on Investment) has been THE buzz word for the past six months or so (well before Facebook became an IPO and stole its thunder). Why? Because now that social networking sites are here to stay, marketers are being forced to carve out a place for it in their overall marketing budgets, instead of using discretionary funds for “emerging technologies.” But it’s no easy task to get the buy-in on a whole budget dedicated to social media marketing (SMM) – especially if you work for a small business.

First of all, many people perceive that social media marketing is virtually free.

Networking sites themselves are “free” to be a part of, but managing them correctly and devoting the time necessary to developing a strategy and creating unique content is in no way FREE. Large corporations have huge sectors and agencies and freelance writers devoted to keeping their blogs and social networks alive. That’s a lot of actual dollars and cents.

To boot, if you ever took an intro level economics class, you know about “opportunity costs.” These are the costs you incur by not doing something else. For instance, if you spend 2 hours writing a blog post, you’re losing 2 hours where you could have been creating an email. If your emails on average garner about $800 each, then to make spending your time creating a blog post worth it, you’ve got to at least generate $800 in revenue from it, right?

If only it were that simple. Social media marketing is a little different from traditional marketing- it takes time to build a base, a reputation, and to increase your site’s SEO. If your ultimate goal by participating in SMM is to increase revenue, then you’ve really got to think about three things:

  1. The resources you have involved in it – How much money do you have, how many people do you have to draw on for the effort, how much time is your team spending on social media?
  2. Your more immediate goals – be they awareness, engagement, purchase intent, etc.
  3. How much value you associate with each social networking touch point (a twitter follower, or a facebook fan etc.).

TechCrunch reported that the value of a Twitter follower is less than one cent. Others think Twitter followers are worth closer to $3/month. There’s really no conclusive evidence because it’s always a case-by-case basis.

Social Media Analytics: Effective Tools for Building, Interpreting, and Using MetricsSo how do you figure out what the ROI of your social media marketing strategy is?

1. Instead of associating value directly to dollars, associate value to your key performance indicators (KPIs).

Ex. How many of our twitter followers shared our content or purchased our product? 

2. To delineate your KPIs you have to think long and hard about what your end goal is.

Is it awareness about your brand? Is it to influence purchase decisions? In what part of the marketing    funnel are you trying to reach your target?  

3. Determine how active your followers are on average. Some indicators of their engagement level on various social networking sites are how personalized their Facebook or blog comments are and by how much time they spend on your landing page or site.

Do they visit your page, whether it be your Facebook page, blog, etc., once and then never interact with it again? 

Some advocate for creating a social media scorecard. This method incorporates manually grading or balancing different interactions (a video view versus a tweet).  These “grades” are dependent upon your SMM goal(s). You basically create a weighted scale to help you determine your ROI.

After you figure out the value of each KPI, you can put them in order and then multiply the number of interactions with the grade. Add them all up for a total campaign score. More about this method to come.

What factors do you include when calculating your social media ROI?

Analytics & Social Strategy – Do they exist?

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I’ve been working on this post for a while. Why? Because to be completely honest, there’s a ton of debate around social media ROI and analysis. As I’ve researched, though, I’ve found a few tips that can help you in the right direction when it comes to measuring the success of your social media efforts.

I want to start by stating that it’s not all about the money. Let me qualify that – I mean, every marketing initiative doesn’t directly translate to actual dollars. A lot of marketing is about maintaining current relationships (CRM – Customer Relationship Management). Here’s a great quote I found in a recent STORES article:

“It may be hard to accept that the sweet spot for social is more about deeper engagement and brand building than a lift to the bottom line.”

Marketers are pointing to the ever expansiveness of social networking and claiming that even if you can’t evaluate the numbers properly, you still have to be involved with social media marketing. Nielsen’s Social Media Report noted that nearly 80% of Internet users visit social networks and 53% of active social networkers follow brand. No matter what, social networking is important for brands.

But, if you can’t measure the success of your latest social media campaign, then it’s almost impossible to determine areas for improvement and growth for your next social endeavor. So there’s no way that we can completely ignore the numbers!

Here are some low barrier to entry ways to start measuring the success of your social media efforts:

At the beginning of a campaign, be it a new facebook contest or an integrated social media and online event, the most important thing to do is to delineate what factors you’ll be looking at to indicate either an achievement or a failure. This could be increased engagement, awareness, preference change etc. There are many options in the marketing funnel.

Then, you must determine what Key Performance Indicators (KPI’s), will help you figure out if you’ve achieved this goal. What do you want your new followers or community to do – how do you define conversion? This could be FB likes, email opt-ins, ad impressions, site traffic, twitter followers.

Once your campaign launches, you then have to monitor them – looking at social “analytics!” What are people saying, are they retweeting you, how much? Are they sharing the content via FB, or forwarding an email, how often? Are they recommending your product or brand via Yelp or other networks? Are theyblogging about you?

You can find most of this information on your own, using Facebook insights, Hootsuite analytics or bit.ly for twitter (and Twitter also has its own website analytics), YouTube analytics, google analytics for web traffic levels and sources and you can even use technorati.com to search the blogs that include your brand name or topic.

Still wondering what the value of these followers and shares is? Check out my next post about low-level social media ROI!

How are you currently analyzing your social media efforts?