Most would agree that we’ve reached the saturation point of major brand social media marketing immersion. Fortune 500 companies are holding “digital days” for management, Twitter and Facebook are key facets of corporate strategy and every company wants to reap the rewards of social media involvement. Unfortunately, there are speed bumps ahead.
Many see the warning signs. Eric Fulwiler at Social Media Today calls it the social media bubble, describing the inevitable backlash of “inauthentic and unoriginal presences and promotions.” There is a bubble, and it may burst, but what will lead us to that point? I have some ideas.
Businesses Are Involved In Social Media For The Wrong Reasons
These days, corporate entities and businesses get involved in social media without stepping back and understanding what they’re getting themselves into. Anyone even remotely involved with social media or digital marketing would stand to benefit from viewing this presentation by Nicolas Christakis, professor of sociology at Harvard University (h/t Simon Mainwaring). At the heart of the fascinating presentation is the idea that humans form social networks to do good. He refers to social networks as living things or human “superorganisms.” These “superorganisms” are “governed by the collective” and the sum is greater than the individual parts. He concludes by saying “overall we form social networks because the benefits of a social networks outweigh the costs.”
Social networks have always existed in society, but they’ve never been as prominent as they are in the digital age. With each passing day, it becomes easier to find like-minded people. It has also become easier for profit-seeking entities to force their way into social networks. They see groups of people that might be interested in their services and they see dollar signs. Unfortunately, far too many of these entities will fail in their attempts at social media immersion when they try to force their way into social networks without offering benefits to the collective.
Failures are in it for the wrong reasons. Potential profits will overwhelm the ideals of engagement and innovation. The power of social networks is the wisdom of the crowds and the successful brands will leverage that power. In short, if a business is getting involved in social media, it better be for reasons other than increasing profits.
The Rise And Inevitable Fall Of The Online Influencer
There is no buzzword quite like the online “influencer” these days. Savvy brands are quickly realizing the power of these social media influencers and are working to isolate them and use them to their advantage. Services like Klout are measuring online “influence,” and it speaks volumes that leading brands such as Starbucks and Virgin America are partnering with them to connect with influencers.
The idea is that consumers have become wary of brand messaging and fellow consumers are more likely to sway their opinions. In general, online influencers are individual entities who have an engaged audience but don’t have a profit-seeking agenda. More than ever, brands are reaching out to these influencers in order to reach their highly engaged audience. This is positive when brands do so to open up lines of communication with their target audience, but there is also a dark side. As this strategy becomes mainstream, brands will do more and more to win over influencers, and the influencers will lose their credibility.
We’ll call this the “influencer bubble.” The most successful brands will seek out influencers who have gained a following because they have valuable ideas and insights. The key to engaging these influencers won’t be money or gifts, but transparency and idea sharing. On the other end of the spectrum, so-called “influencers” will get greedy and will leverage their power with lazy brands that don’t take the time to understand the power of an influencer relationship. They’ll quickly be exposed as shills and their influence will diminish, leaving the brand worse off. The “influencer bubble” will have burst.
Misunderstanding Of The Shifting Privacy Paradigm And Societal Norms
We’re getting to a point in society where a new paradigm of “privacy” is being created. People are slowly but surely seeing the benefits of an open and online social graph (what Facebook is doing with their “like” button and partnerships across the web). There are some obvious benefits to a decreased level of what we formerly considered “private” information, but there are some pitfalls as well.
New societal norms are being established based on social media and the digital world. We’re all actively participating on Twitter and Facebook and other digital forms of communication. Whether we realize it or not, we’ve also established sets of rules for what is OK and what isn’t OK to say and do in the digital world. The most savvy social media users are able to manage their online presence without a set of privacy controls instituted by the service they are using.
As much as social networks are working to “govern by the collective” and form new sets of rules for a digital world, profit-seeking entities threaten to slow the process. Brands are understandably monitoring social media, but the bubble risks being popped when brands actively invite themselves into online conversations without observing newly founded societal norms in the digital space. As much as a cable company thinks that they’re helping by barging into a conversation on Twitter or Facebook to tell us about an upcoming network dispute, they’re not. All they’re doing is being rude.
If we were in our local Starbucks with a friend talking about ESPN, we wouldn’t expect a cable company representative to randomly interrupt our conversation and tell us that ESPN might not be carried on our cable provider soon. It would be creepy. It just isn’t what is accepted in society. The privacy paradigm is shifting and digital norms are being ingrained into society as a whole. Successful brands are adapting to these cues, but as more and more become involved in social media the nuance is lost. Brands see potential consumers to influence and pounce on the opportunity without thinking of the ramifications.
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As brands harness the power of social media, marketing and engagement opportunities will inevitably arise. Stepping back and understanding the broader idea of social networks and digital communications is the key to avoiding pitfalls and setbacks.