In this second official #bloggingfriday with Hult MDM students, we examined three important topics surround marketing and social media: monitoring, trend analysis and message management.
The internet now affords anyone interested in communication evermore sophisticated (and mostly free) tools to monitor the web. For instance, Republican candidate Rick Perry’s “oops” moment resulted in a seismic-like graph on Trendistic.com.
For marketers, this means that they can now monitor the share-of-mind, relevance and buzz of any brand, product or service. The diffulty is in deciphering this agregate data and understand what it means, if anything, for the brand.
Indeed, the holy grail for sophisticated marketers is to be able to anticipate what will be become a trend. In the area of finance there are some who are betting (is this the right word?) that they can forecast stock prices through closely monitoring twitter chatter. At any rate, intelligence agencies are already at work in this area.
One student, @mraaronjoshua, has a promising concept to bring trends and commentary to benefit the fashion industry.
This brings us to the proactive aspect of online-marketing. Once marketers are able to monitor and analyse, the final challenge, is to proactively engage in social media. Idealy companies would give themselves the resources to do so (a combination of talent, money and time). Having identified its brand mantra and slogan, these should be pushed creatively in such a way that the brand becomes a natural part of social media discussion.
Thanks to all who came on Friday!
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