A new global study of Chief Marketing Officers by IBM has revealed that Australian and New Zealand marketers are lagging behind their international counterparts when it comes to technology savviness and social media expertise.
From Stretched to Strengthened – Insights from the Global Chief Marketing Officer Study, was presented to a round-table of marketers yesterday in Sydney and some of the findings were concerning in this age of global competition.
The major insight appears to be that Australian and New Zealand marketers still rely heavily on traditional forms of promotion and research and are yet to embrace the more modern techniques of their global counterparts.
Especially concerning was the belief that Aussie and Kiwi CMOs rated technology savviness, social media expertise and finance skills as low priority capabilities crucial to their success in the next 3 to 5 years. in fact, IBM revealed that our ranking of 12% for social media expertise was HALF that of the global average.
This is despite CMOs acknowledging that ROI will become the primary measure of success.
Lets face it, influence is the main currency of the web.
Google realised it early on when they created an algorithm to rank the influence and relative power of websites based on inbound links and the relative authority or popularity of those doing the linking. Google called this PageRank, and whilst not being the perfect system of website influence it has been the standard measure of this currency for a long time now.
The advent of social networks created an informal market for peddling influence. As networks have grown certain people, celebrities and groups have become powerful influencers of their wider audience.
A mention, tweet or link by the likes of Robert Scoble can be extremely beneficial (or detrimental) for a tech company. A link in Seth Godin’s blog (which is usually shared in social networks thousands of times a day) can generate incredible traffic for the recipient. And believe it or not, having Kim Kardashian tweet her love for your brand can provide a powerful marketing boost. In fact, she now charges companies tens of thousands of dollars to access her Twitter influence.
Why? Because these people have credibility and influence within their respective audiences and communities.
That’s the premise behind a new influence metric called Kred. Created by the team at PeopleBrowsr, Kred trawls Twitter around the clock to measure levels of influence for different topics and people. They currently score 100 million Twitter users for 200 different groups (subjects).
I was at the Australian preview of Kred last night and was very impressed with the level of data and potential uses of the Kred system.
While it is easy to sneer at influence metrics such as Kred, Klout and Peer Index as ego driven vanity scores, that is missing the real point. Looking beyond your own score you can discover groups who are influential in certain topics and even gauge whether they are “spammy” or not.
To me, Kred seems to be the next step on from Klout in measuring social media influence. Jodee Rich, the founder of PeopleBrowsr, is the first to admit that influence metrics such as Kred will continually evolve and improve, but you have to start somewhere. He says that Kred’s granularity will continue to evolve as they measure influence in each country, then cities.
This can be a valuable resource for marketers, PR companies, political operatives, lobbyists and entertainment companies. Driving back from the launch I came up with many ideas about how I could use Kred as a marketer, for both my business and for my clients.
I’ve long believed that building your ‘digital resume’ is crucial for future employment and company pitches. Now we are coming to an era where many employers will use metrics such as Kred (and others) to help identify or compare potential recruits. If you are perceived to be influential in that area of expertise (relative to other candidates) then that might be enough to get you the job.
Kred launches this week. Check it out and tell me what you think.
I’ve been pretty interested in the launch of Google+. Not because I’m a social network nut but because in my opinion G+ sends a very clear signal about how social media and search are inevitably blending.
Now it seems every second day Google’s big plan seems to be revealed a little more.
The latest news is that Google+ profile images are appearing besides search listings, although seemingly only when you are logged in to your Google account.
This is a significant change to search. Having an image turn up in the search results attracts your attention and could definitely lead to improved click-through-rates even if the listing is not at top of page 1. Combine that with the +1 results showing up in your search and you start to see a very different vision of where search is going.
Search and social media and merging folks and those who understand this will have a big advantage.
Google Plus is two weeks old now and early indications are that the Google team finally have a social media winner. In fact, I’m prepared to bet that Plus will be huge and I wasn’t remotely interested in their previous social efforts.
(By the way, feel free to chat with me on Google Plus)
Currently everyone is trying to work out the best ways to use Google Plus, or asking what the “rules” are? The thing is…its new, its evolving and there is not right or wrong. In the end its the community who tend to set the rules of engagement. I doubt the guys at Twitter had no idea that it would look like it does now, or be used the way it is now when they launched a dicky little SMS based service back in 2006.
So far the early adopters are the usual suspects from the IT and social media industries and community. Early stats from the first million users show that 73% are male, over 70% work in IT / computing fields with “engineer” being the number one career, 49% live in the USA, the leading city is San Francisco and there are 16,500 men “looking for love”.
Yes Google Plus is almost entirely inhabited by geeks.
But that will change, and fast. Its is estimated to hit 10 million users this week and be the fastest social network to 100 million users.
I intend to look at the benefits of Google Plus soon, but in the meantime the most obvious one is the use of “Circles” to sort or categorise the people you are following.
The Circles are a great way to both filter and share information. My original circles were like “Family”, “Sticky” (Ie my office), “Friends”, “Acquaintances”, “Following” etc. In other words, degrees of separation from my own world.
Since then I have added geographic circles radiating out from my own world again: Newcastle, Australia, North America, Europe etc.
And finally I have created some subject or industry circles: Media, Tech Media, Industry Leaders, Advertising etc.
Most people I follow end up in a few circles. Ie. Friends + Newcastle + Australia, or Acquaintances + Industry Leaders + USA.
The reasoning is that some information or discussions are only relevant to some groups. So, if I am discussing the New Lunaticks events or Newcastle innovation I can keep it in local Circles. Switching to “Australia” instantly broadens my Circle. If I wish to chat with or follow conversation by Industry Leaders I can filter out the other noise.
Jason Berek-Lewis tells me his circles are all based on themes but he’s not sure if that will be sustainable. Time will tell.
Like I said, its only been two weeks and there’s no right or wrong because we’re all trying to work it out. What I do know is that Google Plus is going to be big and how we use it will be important.
How are you using the Circles on Google Plus? Any good suggestions?
Increasingly marketers are having to accept that social media is here to stay and that they will need to learn how to adapt and thrive to the era of social media marketing. There have been a few very good books published in the last year or so that successfully introduce and explain how modern marketers can compete in an increasingly social world. Chris Brogan and Julien Smith’s 2010 best-selling Trust Agents is one and now a new book has arrived that is equally worth reading: The Power of Real-Time Social Media Marketing.
Written by experience US marketers Beverly Macy and Teri Thompson, The Power of Real-Time Social Media Marketing explains how to take advantage of today’s fluid business environment and develop innovative way to meet market demands.
There seems to be a lot of action this year around finally monetizing the communities and traffic that have grown around major social media networks. From day one, many have wondered where the revenue would come from amongst all the wonderful free services and networks we enjoy online. In 2011 it appears we’ll find out.
The biggest social platform of all, Facebook, has never been in a rush to monetize, preferring to build the base, grow the connections and steadily accumulate data on its members. Sure, over the last few years they have steadily added advertising which is increasingly targeted due to your Facebook “Likes” and activity. Now Facebook have announced that they are jumping on the group buying bandwagon with Facebook Deals. We heard at Social Media Club Sydney this week that Facebook Deals will be launching in Australia in the 2nd quarter of 2011. I believe you’ll start to see a lot more revenue streams appearing on Facebook soon.
The social media community is fairly vibrant and well-established in the Newcastle area now. I think its about time to highlight the great writers, photographers, sights, scenes and ideas floating around the region and put them all in one easy place for everyone to find.
My team and I are putting together a side project to curate the best Hunter-based content.
That’s where you come in. We’re looking for people who’d like to contribute to a well-run online magazine for Newcastle and the Hunter. Its a chance for you to raise your profile, discuss burning issues, highlight the things you love and get some additional traffic and link-love along the way.
These days we take social media for granted. For many of us its just become a natural part of our day and even our work. Its fast, its dynamic and it can be highly stimulating.
But what if we couldn’t use social media?
Social communication is one of the biggest challenges for people with autism. Now autism charities in more than 40 countries are joining forces to launch a global campaign challenging the world?s 4.5 billion social media users to shutdown their networks just for one day.
The Communication Shutdown campaign encourages social media users to make a donation and receive a charity app, or CHAPP, that will signal their support and intention to opt out of Facebook and Twitter on 1 November.
I just learned that Mediahunter is ranked as one of the Top 150 Social Media Blogs in the World according to eCairn. Apparently this site is ranked 98th based on their formula of measuring various links:
- differentiating blogroll versus direct links,
- weighting the links based on the influence of the «source»,
- weighting more reciprocical links,
- counting links at blog or post level.
eCairn say, “The list is subjective and brought few questions and surprises – btw influence is subjective. It’s actually the list of influential bloggers in the social media marketing community more than a list of social media marketing blogs.”
That’s the interesting thing about online compared to other areas of influence. In most cases influence is hard to measure and opinions often come into play. But links are the major currency online. They determine your Google PageRank and a large percentage of your traffic. Links are a vote for your site, and hence a relevant measure of influence.
Quite rightly, the leading bloggers on this list are the heavyweights of industry. Chris Brogan, Jeramiah Owyang, Brian Solis, Seth Godin and David Armano are all there. These are people I read every week so its not surprise to see them there.
Australia has surprisingly fewer names on this list than I would have expected. Gavin Heaton is our highest ranked blogger here, and once again that’s no surprise to me. I read Gavin’s blog a few times a week and link to it often, as do many others obviously.
But there is once common denominator amongst these top bloggers (that doesn’t include me) – these guys all produce great, thought provoking content week-in, week-out. Their influence might be measured by links, but its created by sheer quality.
I only have time to attend a handful of conferences each year. Its often difficult to determine which are the best conferences to attend. You have to balance up the cost and the potential information reward for each conference.
Social media conferences are even harder to pick. Over the last 3 years I have attended quite a few social media conferences and events but the lingering impression I often have after each event is that the conference was preaching to the converted. Its been an increasing dilemma in the social media world….there are those who “get it” and those that don’t (yet). At most events I’ve attended the audience already “get it”.
Of course its great to have enthusiastic participants at your social media event, but it’d be a lot more valuable to the noise extended beyond the social media echo chamber to reach the people we’d really love to see “joining the conversation”…Ie leading corporate marketers.
That’s why I’m excited to be attending the iStrategy 2010 conference in Sydney in November. Here’s a social media conference that is very deliberately addressing marketing professionals from leading Australian organisations with the aim of “Bridging the gap in Social Media Marketing”.