Wednesday, October 21, 2009

The World is Getting Flatter All The Time…

I was recently in Salem, MA speaking at the New England Financial Marketing Association’s Fall Conference on the topic of social networking and community banking and had one of those “revealing” moments that reminded me just how connected the world has become. While I spend my time working with clients talking about this very issue (given the power of social networking), it’s always interesting when you see this “for real” and you’re involved in the process.

During my presentation, I talk about the power of blogging to build relationships via a bank’s website and then cover what I refer to as the “Fab Four”. These are the sites of Facebook, Twitter, LinkedIn and YouTube. Druing my YouTube discussion (which, by the way, is the worlds #2 search engine now), I temporarily leave the PowerPoint and fire up a video from Landmark Bank to show how one financial institution is using the power of video to differentiate themselves from the rest of the “pack” of financial service providers. Check out the video below and I think you’ll see what I’m talking about.



Well, one of the attendees at the conference came up to me afterwards and said that something amazing happened. She has a blog site called Manic Mommies and also is on Twitter (@kristinsb). During my talk, she “tweeted” about my presentation and mentioned Landmark Bank. Well, much to her surprise she got a response to her “tweet” from the woman who actually produced the above video. That was quick!

Well, the story doesn’t end there… Seems that the producer actually knew Kristin and proceeded to inform her that she’s also a follower of the Manic Mommies blog. Now, that’s when it got really “spooky” (yeah, that was an obvious attempt to work on some Halloween lingo into the post – I was in Salem during October, after all). Of course, I couldn't resist the urge to ask her if either of them knew Kevin Bacon...

So, when I flew to Memphis a few days later, I told that story to another group of bankers where I was presenting at the Bank Tech Summit for my good friend Jimmy Sawyers from Sawyers & Jacobs, LLC. Not only was the story somewhat “cool” because these two individuals had actually been “connected” already (but didn’t know it), but it wasn’t until my presentation when the two of them put it together.

So, as my grandmother would say… “What’s that got to do with the price of eggs in Denmark?” Well, the world is getting flatter and flatter every day and social media is connecting us in ways like never before. Imagine, if you will, the power to share good customer service stories, or (gasp) what if someone has a bad experience with your business. Think about how easy it is to get the word out and just who will actually hear it along the way.

Tuesday, October 20, 2009

2009 Social Media Trends Report - WOW!

WSI recently completed our 2009 Social Media Trends Report (Knowledge Center > Whitepapers) and I must say it's 11 pages of "awesome". As an Internet Consultant, I frequently get asked by clients what the "deal" is with social media and if it really is something they should be doing for their business.

"My kids use Facebook and Twitter to chat with their friends, but do I really need to be worrying about this for my business?" While I'm not going to say that social media is the right fit for every business just because they have a website, this report reveals the trends in the industry and where your competition is likely headed - so it's good information to know.

For example, did you know that Canada is the leading nation when it comes to social media utilization for users of the Internet, with almost 87% of active Internet users using social networking sites. The U.S. is sixth on the list with just over 70% utilization behind Brazil, UK, Mexico and Spain.

Here are some other interesting tidbits from the report that are worth mentioning:
  • Majority of online marketers (65%) use Facebook as part of their marketing strategy.
  • 77% of senior marketing executives said they would increase word-of-mouth or social media marketing spending in 2009
  • According to types of social media used by online businesses, blogs are the most popular method of communicating with site visitors with almost 30% using this technology. This was followed by RSS (really simple syndication) at 23% and User Ratings and Comments at 22%.
Be sure to download the report to get the full story. It's a quick read and has lots of graphs and tables, which makes the information easy to digest. If you are a business owner and interested in discussing how the findings of this report can have an impact on your business, please contact me and let's chat.

I look forward to hearing from you soon and your comments...
Eric
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