Almost a year ago in the middle of the press craze I raised a red flag about the mini gold rush on Second Life. With the Social Media becoming the subject of public and business fascination more red flags were raised and the post of Caroline McCarthy in CNET News titled "Marketing: Social media's hidden bubble" is worth reading. We see again the exponential rise in "Social Media Consultants" and "Social Media Gurus / Experts"; for those with some memory the situation looks familiar (remember the first Internet bubble). I would argue that most of these experts never took even the trouble to ask themselves what Social Media is and what it can actually mean for Marketing*. To many of them Social Media begins and stops somewhere between Facebook, Digg and Twitter. I do not need to add much to Caroline's post only that I hope some of those rushing to jump on the Social Media bandwagon will think better how to do that. It also seems to confirm my doubts about Twitter, the most recent darling of the Social Media aficionados.
* For those interested in my views on Social Media Marketing a working paper is available
Showing posts with label Second Life. Show all posts
Showing posts with label Second Life. Show all posts
To Twit(ter) or Not To Twit(ter)
Wednesday, March 4, 2009
It is for some time now that I wanted to write about Twitter, the latest upshot of the Social Media and current web fad that spreads like wild fire among Millennials. If you wonder what Millennials are (and also want to have some fun) have a look also to this Video.
For those who do not know yet what Twitter is: It is a combination of online community, instant messaging (messages called Tweets of up to 140 characters) and blog (micro blog) allowing people to inform their network what are they doing every moment of the day and occasionally spread news (like the Mumbai attack, the landing of the American Airlines jet in the Hudson river and the crash landing of the Turkish Airlines jetliner in Amsterdam) faster than the traditional mass media and even faster than YouTube!!
I have a Twitter account for some time already but I have not activated yet, I opened the account out of professional curiosity. After a first look to it I was not sure what value would add this application to my already digitally overloaded life and decided to wait until I knew more about it.
I know now something more about it and I can share it with you to help you make up your mind if you haven't done it yet. Participating in a seminar a few weeks ago (80% of participants belonging to the Millennials segment) I noticed that many people came with their notebooks and of course the first thing that crossed my mind was that they wanted to make notes and maybe look to their email from time to time. I know how a Twitter session looks like so I quickly spotted two guys that I could look to their screens having a Twitter screen on that was constantly updated with the twits of their friends ( the guys were busy with at least 3-4 more things online at the same time but this is normal with multi-tasking people). If my sample ( two out of two = 100% ) was representative then practically everyone with a notebook in the room was doing the same. I really wondered if these guys heard a word of what was said in the seminar but this is another story; I could not help wondering if it is normal that I found the whole thing a bit of nonsense.
The answer to my question came after looking to a recent interview of the Twitter CEO Charlie Rose who declared that in "five years normal people will also use Twitter". This was a big relief, the normal people do not use it yet!! This interview was followed by the news that the Eric Schmidt the CEO of Google, referred to Twitter as " A Poor Man's email system" (despite the fact that Google has also a Twitter account!!). Maybe a reaction to accusations that Google is out because it is too slow! According to some circles Google can find things on line a few hours after they happen and not the moment they happen! What a shame!
Trying to stay objective I would warn those jumping into the Twitter train of the danger of addiction. What I saw in that seminar points only to something like this.
On the other hand one should think very seriously whether his or her life on a 24 hours basis is so important and interesting that everyone should know about it. It sounds like some kind of exhibitionism (although the devoted twitters will say that it is a form of communication) that we see more and more entering our life and found normal by many.
As to the commercial value of this application as a marketing tool I can imagine that it could spread very quickly news and advertisement although the users do not seem to be interested for such things. Yet many companies are already opening Twitter accounts like last year when everyone was talking about the unlimited commercial potential of Second Life (that proved to be hot air for the biggest part).
One matter of concern should be what the effect of Twitter addiction can be on working peoples' productivity. It would be interesting to see a study about such effects. As to the highly praised speed of Twitter to spread news very quickly I wonder what is the problem if you hear about the breaking news 10 minutes later in the TV or radio?
Finally what will be the future of Twitter? Is it another fad or it is here to stay? One thing I have learned the last years is that making predictions for such things can be quite tricky although my predictions about SecondLife on June last year seem to be correct. I have the feeling that the public that stormed SL last year is the same one loading the web with tweets now so I expect something similar to happen again. When they will have enough of it they will swarm around something else and the Twitter will disappear from the headlines.
p.s. 1 Interestingly one of the ministers of the Dutch cabinet is twitting, he irritated the prime minister sometime ago when he published a photo from a cabinet meeting online.
p.s. 2 I will keep tracking Twitter and inform you of developments
For those who do not know yet what Twitter is: It is a combination of online community, instant messaging (messages called Tweets of up to 140 characters) and blog (micro blog) allowing people to inform their network what are they doing every moment of the day and occasionally spread news (like the Mumbai attack, the landing of the American Airlines jet in the Hudson river and the crash landing of the Turkish Airlines jetliner in Amsterdam) faster than the traditional mass media and even faster than YouTube!!
I have a Twitter account for some time already but I have not activated yet, I opened the account out of professional curiosity. After a first look to it I was not sure what value would add this application to my already digitally overloaded life and decided to wait until I knew more about it.
I know now something more about it and I can share it with you to help you make up your mind if you haven't done it yet. Participating in a seminar a few weeks ago (80% of participants belonging to the Millennials segment) I noticed that many people came with their notebooks and of course the first thing that crossed my mind was that they wanted to make notes and maybe look to their email from time to time. I know how a Twitter session looks like so I quickly spotted two guys that I could look to their screens having a Twitter screen on that was constantly updated with the twits of their friends ( the guys were busy with at least 3-4 more things online at the same time but this is normal with multi-tasking people). If my sample ( two out of two = 100% ) was representative then practically everyone with a notebook in the room was doing the same. I really wondered if these guys heard a word of what was said in the seminar but this is another story; I could not help wondering if it is normal that I found the whole thing a bit of nonsense.
The answer to my question came after looking to a recent interview of the Twitter CEO Charlie Rose who declared that in "five years normal people will also use Twitter". This was a big relief, the normal people do not use it yet!! This interview was followed by the news that the Eric Schmidt the CEO of Google, referred to Twitter as " A Poor Man's email system" (despite the fact that Google has also a Twitter account!!). Maybe a reaction to accusations that Google is out because it is too slow! According to some circles Google can find things on line a few hours after they happen and not the moment they happen! What a shame!
Trying to stay objective I would warn those jumping into the Twitter train of the danger of addiction. What I saw in that seminar points only to something like this.
On the other hand one should think very seriously whether his or her life on a 24 hours basis is so important and interesting that everyone should know about it. It sounds like some kind of exhibitionism (although the devoted twitters will say that it is a form of communication) that we see more and more entering our life and found normal by many.
As to the commercial value of this application as a marketing tool I can imagine that it could spread very quickly news and advertisement although the users do not seem to be interested for such things. Yet many companies are already opening Twitter accounts like last year when everyone was talking about the unlimited commercial potential of Second Life (that proved to be hot air for the biggest part).
One matter of concern should be what the effect of Twitter addiction can be on working peoples' productivity. It would be interesting to see a study about such effects. As to the highly praised speed of Twitter to spread news very quickly I wonder what is the problem if you hear about the breaking news 10 minutes later in the TV or radio?
Finally what will be the future of Twitter? Is it another fad or it is here to stay? One thing I have learned the last years is that making predictions for such things can be quite tricky although my predictions about SecondLife on June last year seem to be correct. I have the feeling that the public that stormed SL last year is the same one loading the web with tweets now so I expect something similar to happen again. When they will have enough of it they will swarm around something else and the Twitter will disappear from the headlines.
p.s. 1 Interestingly one of the ministers of the Dutch cabinet is twitting, he irritated the prime minister sometime ago when he published a photo from a cabinet meeting online.
p.s. 2 I will keep tracking Twitter and inform you of developments
The case of Second Life: What is in it for the Marketer?
Tuesday, July 17, 2007
IBM, Philips, Adidas, Toyota and ABN AMRO Bank are just a few examples of a growing number of international (as well as local) brands who have opened digital shops in Second Life, the most widely known virtual village with a few million registered users. According to the 2007 McKinsey Survey on Internet Technologies 37% of the participating businesses in the survey are investing already in social networking as a marketing tool. The logic behind this is simple: This is an environment attracting interest and users so I have to be visible there.
While the logic is sound the benefits of such an undertaking are quite contentious and fuzzy. The whole fad brings back memories of the Internet gold rush of the 90s when joining the online world was a must for everyone although most businesses building up web sites did not know how to do that and why they actually were doing so.
The hype around Second Life seems to hinder marketers from realizing that engaging social sites as a new marketing channel requires new thinking and different approaches than those used in traditional mass media or mass promotional actions.
News from the field is not very upbeat so far. I read recently an article written by a journalist who counted the number of visitors walking around in Second Life shops of Dutch firms and found them in numbers ranging between 0 and 10. Other studies (like one conducted by Komjuniti, a German research firm) found that a high percentage of Second Life patrons are disappointed with the marketing efforts taking place there; it seems that the story of the 90s is repeated, firms create online shops in social networking sites and then simply forget about them hoping that business will follow.
There is lack of scientific evidence as to the potential and effects of this marketing channel and not much known about to social network user’s behavior. The only information as to Second Life marketing is patsy based or reports or speeches of (sometimes self-proclaimed) experts about the staggering future of this type of marketing.
Can somebody give any advice to the impatient marketer about Second Life? Maybe a very simple one i.e. to ask himself the most basic question for evaluating any marketing communication channel: How many of your customers or potential customers is the channel able to reach and of course at what cost per customer? In other words how many of the regular users of Second Life (about 15% of the total registered) are likely to be their customers or potential customers? I am afraid that for many the answer to this question would make think twice before investing in Second Life Marketing
Interested to be informed of my new posts? Email me in e.constantinides@utwente.nl and you will be included in my mailing list
While the logic is sound the benefits of such an undertaking are quite contentious and fuzzy. The whole fad brings back memories of the Internet gold rush of the 90s when joining the online world was a must for everyone although most businesses building up web sites did not know how to do that and why they actually were doing so.
The hype around Second Life seems to hinder marketers from realizing that engaging social sites as a new marketing channel requires new thinking and different approaches than those used in traditional mass media or mass promotional actions.
News from the field is not very upbeat so far. I read recently an article written by a journalist who counted the number of visitors walking around in Second Life shops of Dutch firms and found them in numbers ranging between 0 and 10. Other studies (like one conducted by Komjuniti, a German research firm) found that a high percentage of Second Life patrons are disappointed with the marketing efforts taking place there; it seems that the story of the 90s is repeated, firms create online shops in social networking sites and then simply forget about them hoping that business will follow.
There is lack of scientific evidence as to the potential and effects of this marketing channel and not much known about to social network user’s behavior. The only information as to Second Life marketing is patsy based or reports or speeches of (sometimes self-proclaimed) experts about the staggering future of this type of marketing.
Can somebody give any advice to the impatient marketer about Second Life? Maybe a very simple one i.e. to ask himself the most basic question for evaluating any marketing communication channel: How many of your customers or potential customers is the channel able to reach and of course at what cost per customer? In other words how many of the regular users of Second Life (about 15% of the total registered) are likely to be their customers or potential customers? I am afraid that for many the answer to this question would make think twice before investing in Second Life Marketing
Interested to be informed of my new posts? Email me in e.constantinides@utwente.nl and you will be included in my mailing list
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