Social Media Marketing Meet Wall Street Arbitrage | Atlantic BT

DreamForce Social Media NOC (Network Operation Center)

Social Media Marketing?s Arbitrage Everything Future

My friend and a great SEO Phil Buckley (@1918) sent me a note on Google+ over the weekend with the picture of DreamForce?s Social NOC (above). Phil reminding me I ?saw? the real time monitoring of the social web implied by DreamForce a year ago. His note reminded me of a story from when I was about ten.

I didn?t know what my father did for a living for a long time. My father was a pension plan manager hedging risk for the very wealthy.?My father?s skill set was narrow. He selected people and funds his clients should trust with their money. Not hard to see why a ten or twelve year old couldn?t explain what his father did for a living on, ?What my parents do for a living,? day (lol).

Little did I know Wall Street was running hard straight for Internet marketing. ?Building my first B2B and B2C ecommerce ?FoundObjects.com (now RIP) in 1999 prior to the pervasive influence of the social web would be an exercise in futility today. FoundObjects.com wasn?t social, it wasn?t a platform for User generated Content (UGC).

Arbitrage, trading one thing for another, ?is what Internet marketing is rapidly becoming. Life inside the largest content network the world has?ever created is social arbitrage. We trade Link Love, Shares, Tweets, Retweets and attention for a relationship with websites and companies we LOVE and ADVOCATE. We champion the cause of a handful of products, brands and companies to our friends. Our network reaches out via six degrees of separation to friends of friends, so SNAP and before you know it your Tweet or Facebook post is being shared by a million people.

The web?s ?infinite inventory? described in The Long Tail by Wired editor Chris Anderson means there is almost no cost associated with adding one or a hundred more products to a scaled ecommerce website. Once an ecommerce site reaches scale?adding more ?digital products? LOWERS inventory carry costs, a truth Amazon?s founder Jeff Bezos learned on Wall Street and brought to Internet marketing with Amazon?s ?partner network?. Bringing Wall Street arbitrage to the sales and marketing of everything may make Jeff Bezos the most?influential man of our times.

Internet Marketing?s ?Arbitrage Everything? Implications

A recent series on PBS about the Civil War discussed how tactics from the last century met technology from the current time with horrible consequences. This mismatch of tactics and technology created massive loss of life. Technology changed the war in ways few generals understood. Google, Bezos and Amazon changed everything about selling products to consumers and services to businesses and now the social web is changing everything again.

Here are the marketing trends Amazon, Google?s and the social web?s new algorithms are using to change ?sales and marketing:

• Infinite Inventory ? Important to sell everything because trading ?generates network presence and money. Trading even for a slight advantage creates huge return spread across the web?s law of large numbers where even a penny x a billion transactions becomes a lot of money ($10M).
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• Process Is Product ? Infinite inventory creates tremendous NOISE and market ROIL. There is a need to hedge inventory and product creation costs as?Threadless.com and Quirky.com do. These ?mob source? sites share process as the first stage of a product development. They ask for community involvement and votes and produce to what their community wants.
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• Grabbing For Hearts and Minds ? The new marketing game is not about physical shelf space or territory since ?territory? in a content network is infinite. The new social?marketing is a battle to capture hearts, minds and brand advocacy.
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• Edleman?s New Conversion Funnel?? McKinsey Consulting partner David Edleman wrote several compelling pieces in the Harvard Business Review explaining the new brand marketing. Edleman?s ?new conversion funnel? defines?marketing based on outstanding experiences and continued brand advocacy across a customer?s social nets after the sale. 90% of brand content is created by?advocates on the social web making Edelman?s new conversion funnel with its discussion about the need for an ongoing relationship after the sale prescient.
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• Attention Is Money ? In the Attention Economy: Understanding the new currency of business published in 2001, Davenport and Beck predicted attention, not?money, would become the most important and hardest to gain and keep commodity. Attention is related to the only thing we haven?t figured out how to make more of ? time. Since 2001 attention is being crushed by a new army of social signals so Davenport and Beck seem prescient too.
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• Experience Economy ? In Pine and Gilmore book The Experience Economy: Work Is Theater and Every Business A Stage the authors stressed the need for unique?tactile experiences capable of creating viral marketing. How to bring ?tacticle? experiences online creates one of the unique social marketing challenges of our content networked times.
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• Platforms vs. Websites ? After conducting research that showed Etsy?s network effect in the gift space at the end of 2010, Etsy moved from few pages in Google to over 100M very fast, I declared the ?closed loop (non User Generated Content) websites dead. The self referential websites of the past was being killed by more open and social ?platform? approaches. Since content demand exceeds any web team?s ability to?supply fresh and relevant content UGC (User Generated Content) must be generated at an ever faster pace. UGC on this scale requires a sophisticated Content Management System (CMS).
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• Gamification ? ?Gamification: Winning Hearts, Minds and Loyalty Online?sees the?connection between sticky content as defined by the Heath brothers in Made to Stick?and a system to reward ?play? website engagement. Contests and games are among the stickiest kinds of content. ?The new Internet marketing needs games ?played??as competitions over time similar to frequent flier miles and Starbucks free coffee loyalty cards.
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• Linked Content Network Fundamentals ? In Linked: How Everything Is Connected To Everything Else and What It Means Notre Dame network research Barabasi explains?critical properties of content networks. Content networks create hubs as a result of proprietary linking. Websites with the links and content, the??rich?, tend to get richer faster and faster. Google, Amazon and Apple are hubs and so hard to disrupt or displace.
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• More and More, Faster and Faster, Better and Better?? The secret structure of Internet marketing is an ever escalating?creation curve. As we create more relevant content faster Google?s costs decline and their profits go up. Google was about to drown in social signals. An?engineer named after Navneet Panda created a faster machine-learning algorithm that saved Google?s network from being swamped by social link spam. Now Google can see how dirty your website?s ?room? is and they want it cleaned up or your website will be grounded.
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• Storytelling Panda?s Secret SEO Implication ? ?Google?s new stress on QDF (Quality Deserves Freshness) and QDR (Quality Deserves?Relevance) changes the Key Performance Indicators an Internet marketing team must watch. Google?s Panda wants your webpages to ?ping? frequently with updates so UGC (User Generated Content) becomes important. Static Evergreen content needs to be re-created with social signals or it will lose relevance.
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• The Future Converts Better With Predictive Analytics ? Algorithms and predictive modeling is clearly in Internet marketing?s future. We will look back on?4% conversion rates common to this time?s e-commerce websites and wonder what we were thinking. A new generation of tools spins and snips content based on conversion models in near real time and they are sure to increase conversion rates.
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• Mobile First Disruption ? Mobile is more than programming content for phones. Mobile brings a new way of thinking about content, a responsive platform?agnostic approach. Content created for mobile migrates up and out to other devices. Mobile development should be FIRST and its?principles must guide web development going forward.
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• SoLoMo Rocks Near Real Time ? It is possible to build a substantial business with a strong mobile presence and weak SEO (search engine optimization).?Once smart phone users join a company?s list mobile engagement and commerce becomes a diversify force, but the ?what?, ?why? and ?who? of mobile marketing is far from determined. SoLoMo also consistently demonstrates real time beats any other time for some types of conversions and engagements. The desire to understand and bend the near real time social web is why DreamForce created the Social Media NOC (Network Operations Center) pictured at the top of this post.

Marketing teams function in the constant NOW of the web?s global content network. When a marketing team reacts to what it?sees on the near real time social web better than competitors they win. ?React better more frequently and you and your company will win more and more, faster and faster and better and better.

PS. I realized after publishing this piece there is a missing trend. I wrote this piece in about two hours because I could pull from an extensive archive of ?Evergreen? related Internet marketing content across ScentTrail Marketing?s more than 500 posts and Atlantic BT?s blog with more than 1,000 posts. I used social tools such as Twylah for Twitter and Scoop.it to help with previously ?scooped? and Tweeted facts and resources.

Reacting in real time requires a substantial archive of creative content capable of being spun, snipped and republished to meet immediate demand. This is why we are creating a new kind of ?Social Content Management System? or Social CMS called SpinSnip. Stay tuned for SpinSnip.

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Tags: arbitrage, Atlantic BT, content, email, Internet, marketing, network, social, tends, Web
Posted in: Atlantic BT, Business & Internet, Mobile Marketing, Social Media
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Source: http://www.atlanticbt.com/blog/social-media-marketing-meets-wall-street-arbitrage/

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