Monday, November 15, 2010

Social Media Strategies and Consumer Behavior

Social media is a very important aspect of contemporary marketing techniques and strategies, and it is difficult to keep up with because it is constantly evolving. I utilize various forms of social media in my daily life, and I feel like I am part of the generation that has really incorporated social media into previously non-collaborative activities. I have a Facebook account, a LinkedIn profile, and even a Twitter account, and I even use sites likes Last.fm to track my music preferences, create concert calendars, and shat with friends who have similar tastes in music based on the site’s compatibility function. I am actually beginning to wonder if all of these “tools” are really working for me or if I am filling my life with more things to update and maintain. I feel like my relationship with social media is a little bit of both, and it is interesting to think of the ways in which I can use the knowledge of gained as a future marketer. In fact, I wonder how marketers are tracking and using the “data” I’ve already provided simply by participating in social media practices.

Social media reflects the way in which I receive my information. The Groundswell readings discuss how people like me who actually surround themselves with social media and who are actually using it frequently are the ones adding value to social networks and making them such a widespread phenomenon. Two social media entities I can focus on specifically are Facebook and Twitter. Facebook allows me to ‘like” pages based on my interests. I am very interested in films, television, and the entertainment industry in general. It follows that I have “liked” Facebook pages like Fox Searchlight, NBC Universal, Variety, Rotten Tomatoes, and Disney/Pixar. Information relevant to all of these pages now runs in my news feed along with updates from friends and things relevant to my networking habits and my social life. The knowledge I gain by possessing all of this information all becomes a part of what I like to call my running digital stream of consciousness. Twitter is a more concentrated, instantaneous form of this stream of consciousness, as I am able to “follow” actual actors, directors, more studio execs, and even fictional characters for whom writers have created fake accounts. How can marketers use these tools to gauge consumer interests and meet needs? All they have to do is observe as users generate all the research they’ll ever need and so much more.

It took a while for companies to really utilize Facebook and Twitter to make money, but the interest of advertisers wanting to reach the ever-expanding digital audience (which encompasses virtually every major demographic) led to some interesting complementary and collaborative relationships between the two sites. For example, if I “like” Fox Searchlight on Facebook, I can get general updates about the movie “Black Swan,” which is being released on December 3rd. If I choose to follow Darren Aronofsky, the director of “Black Swan,” on Twitter, then I can literally get updates by the moment of how the production is going and any special events related to the premiere that he would know about firsthand. Facebook creates buzz and generates a sphere of knowledge about a particular person or thing, but Twitter provides the opportunity to create more concentrated buzz and perhaps to incorporate promotions and giveaways into simple “updates.” A fantastic example of this is Edgar Wright’s tireless efforts to market his movie “Scott Pilgrim vs. the World” preceding its release in August 2010. He aggressively tweeted every move he made across the country as he went on a tour with the cast and crew. Facebook had videos and interviews that fans could watch, as well as reviews of the film, but Twitter had arguable more exciting content as Edgar Wright actually posted information open seats at screenings and signings/meet-and-greets he was doing with the cast at particular locations. The tour ended in Austin, Texas, and a friend of mine actually got to go the final screening and meet Edgar Wright and all the actors simply because she liked the “Scott Pilgrim vs. the World” page on Facebook and also followed Michael Cera, Edgar Wright, Jason Schwartzman and Anna Kendrick on Twitter. She knew exactly when they landed here and the Facebook page led her to an impromptu promotional giveaway in which she was one of the first six Twitter users to “tweet” Edgar Wright back after he said he had four seats left to the screening. It all happened very fast and it all relied heavily on social media appeal and my friend’s active involvement in the marketing process. This extremely rapid pace is both a blessing and a curse, and marketers are constantly struggling to keep up with trends that shape digital interactions like this one.

Social media strategies are the gateway to endless possibilities. Groundswell puts an optimistic spin on social media as well, elaborating on the ways in which companies can use trends and consumer behavior in relation to social media to map out effective ways to utilize its widespread appeal and applicability.