Social Media Blog: Conversational MarketingA blog that disects conversational marketing via social media.

A few days ago, Lee Odden wrote about the Five Blunders of Social News and Bookmarking and the noise associated with social media marketing. These blunders, while probably not a comprehensive list, are things that I see daily as I read various blogs and frequent a handful of social media properties. They are the following:

• Submitting press releases to social news sites
• Add every social bookmarking icon to your blog
• Submit your own content
• Relying on a network of people to vote on stories.
• Related to above: Howdy Doody comments

This list fits in well with what I have been thinking about for the last three weeks since I started my new gig at Yahoo (it usually takes me that long to actually write a post, how sad). I have mentioned in a previous posting that social media is community driven and anyone who plays in this space already knows that. Also, in my opinion, it’s within these online communities that viral marketing can give birth (I’ll talk more about that later). So, keeping in mind Lee’s blunders post and the idea that social media is all about communities, I decided to come up with a few rules of engagement that marketers must should think about before engaging in the social media space.

Rule #1: Define you target audience

I can go on forever listing out all the community driven social media sites that exist today. I am not the greatest writer so I’ll get to the point. Just because Myspace has zillions of users does not mean it’s an appropriate channel for you to be spending your valuable time and dollars there. It’s important for you to understand who your target audience is first before you start getting to the tactical elements of marketing. Research where they are spending their time, what their interests, desires, and hobbies are; what are they passionate about and what motivates them and then start the engagement. I see too many brands that have Myspace profiles just because their competitors do; with no clear strategy or idea on what they are really out to achieve. This process takes time but it’s well worth the wait.

Rule #2: Know you metrics

In a previous post, I gave some ideas on how to measure social media. I defined the standard “engagement” metrics (clicks, impressions, etc.) as well as some other metrics to think about if you are blogging, podcasting, etc; specifically around social media optimization.

Without a clear understanding of what your goals are from the beginning, you will find yourself questioning whether or not social media is the right channel for your business. If it’s just web traffic that you are after no problem but be sure you have analytic software installed; same concept for your conversion metrics. In most analytic packages, you can set up goals and monitor the conversion rates from specific websites. Regardless of what your metrics are; it’s wise to know what you will be measuring before you actually engage.

Rule #3: Be real

Previously, I mentioned that one characteristic of social media is transparency and disclosure. This is not what I am talking about here. When marketers engage in community driven conversations, they need to talk with real voices and have real (genuine) conversations. It’s all about relationship building. Don’t just pretend to be interested in what they are talking. Consumers today are savvy enough to see right through it. These conversations should be open-ended and the community should be in the driver’s seat. These conversations should not be about something else than what it already is and should always remain on or related to the topic at hand. In other words, don’t try and up sell a product or service in the middle of a conversation. If you’ve purchased a used car in the past, you know exactly what I am talking about.

Rule #4: Go ahead, monetize

Once you have built the trust of the community it’s now time to figure out a way to monetize these conversations that are taking place (every community engagement will be different). Garrett French wrote a powerful post that hit home for me a few months back. He wrote about a conversation he had with Garrett Camp of StumbleUpon; and emphasized how they focused on community building first (and they have a pretty big one) and as Garrett said, “They still don’t give a crap about monetization”.

The point here is this. Every marketer will approach this step differently depending on what it is you are trying to sell. However, once you define your audience, you can then begin having REAL conversations with them. This research and conversation is much more effective than some random online survey or focus group. Once you have built a trustworthy relationship, you can now figure out a strategy to monetize since you have just gained their permission to start marketing to them.

Rule #5: Keep the conversation going

Okay, so you defined your audience; built relationships with them and even made a little cash. The last thing you want to do now is abandon the conversation. Your life-long goal should be to increase the value of your audience; and essentially create brand ambassadors. You can do this by keeping the conversation fresh and alive; and of course throwing in some rewards. The best example I can give is what Dell is doing with their site, Ideastorm; where they are giving a voice to their audience and soliciting their feedback for future product releases. And guess what? Dell is listening and adopting some of the suggestions.

Face the facts

Today, consumers expect to be heard, whether or not you are listening. And, if you try and butt in to these conversations with a used car salesman approach, you company or brand WILL go viral, but not with the message that you are expecting.

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