The Digital Gold Rush: Is Social Media the New Flaming Logo?

Back in the late nineties, brands and mom and pop shops alike heard the promises of e-commerce gold and raced to launch their websites with the coolest, flashiest pages imaginable.  Anyone remember the e-business ads that IBM used to run?  My favorite is one about having a “flaming logo” instead of focusing on solving real business problems which I think perfectly captured the essence of this phenomenon – I’ve included it here:

Pretty funny, right?  Sadly, I can’t help but feel that the Web/Digital industry has come full circle and history is repeating itself.  Now, nearly a decade later, the “digital gold rush” has begun again, this time in search of the social media promised land.  From blogs, MySpace, Facebook and YouTube, to Second Life, iPhone apps and now Twitter – some brands are diving in, while others are watching from the sidelines and waiting for their golden opportunity.  But have we learned anything from Web 1.0, or are we destined to repeat the same patterns all over again? 

Yesterday, I caught up with Diane Deseta, User Experience Strategist at White Knight here in Atlanta, Georgia and a fellow member of the Atlanta Social Media Club on this topic.  We discussed the adoptions patterns by brands and their agencies within blogs, social networks and Twitter as well as what the potential impact has been on the social community’s perception of these brands.  Diane pointed out three key observations that I think brand marketers should keep in mind when hitching up their wagons to head into social media: 

• Embrace Transparency Inside and Outside Your Organization – Be careful of auto direct-messaging and auto responding services when using real-time channels such as Twitter.  These services can inhibit you from knowing your audience and forging a real relationship with them.  Also, give your employees a window to the channels and tools you are experimenting with so they can become audience members and participate.  Tony Hsieh at Zappos is an outstanding model for transparency.  He shares both company and personal personality when engaging potential customers and fans through Twitter.  Zappos employees are also trained and encouraged to utilize Twitter as part of their corporate culture.  Everyone can access the Twitter accounts of all their employees directly from their website.
• Focus on Solving People’s Problems Instead of Exploiting Them – Burger King’s Facebook Whack campaign correctly understood users’ were being overwhelmed by too many friends, but underestimated the backlash of instant, impersonal “de-friending” for the sake of a $3 sandwich.  Comcast proactively reached out to Twitter users who were expressing frustrations with their service and offered real-time assistance.
• Keep the Dialogue Going – Start small and make social media a part of a larger program or campaign.  Target asked Facebook fans which 10 charities they wished to receive $3 million as part of their Bullseye Gives program.  Fans and employees continue to discuss the merits of their favorite charitable organization long after the votes were in and the awards concluded.

You can listen to the full podcast episode here.

Next week, we’ll continue with “PART 2: The Rise of the Blogosphere: Now What?”, my guest will be Sherry Heyl of Concept Hub.  Listen in live on BlogTalk Radio, every Thursday at 4pm (edt) / 1pm (pst) and catch the episode recaps here on iMediaWorks Connect each Friday.