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What Comes After Social Media? And Why You Should Have Paid More Attention In Math Class

What Comes After Social Media? And Why You Should Have Paid More Attention In Math Class | BI Revolution | Scoop.it
From www.mackcollier.com - February 9, 9:45 AM

I started blogging in 2005, and started checking out Twitter and Facebook in 2007.  While these tools have been popular topics for individuals for a while now, companies really didn’t begin to take an interest in social media as a pseudo-business tool till around 2008 or so.  


So for five years, social media has been the next ‘it’ thing. But eventually, we’ll all move on to talking and obsessing about something else.  Even now, some people are beginning to say that social media’s bubble is about to burst.  So when social media is officially no longer the ‘cool kid’ in school, what will take it’s place?


One idea that’s been gaining traction in the last year or so is that of Big Data.  In simplified terms, it’s collecting massive amounts of data about a sample (such as your customer base), and then analyzing that data in order to spot trends and characteristics about the customers that you might otherwise miss....


Via Jeff Domansky
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Martin (Marty) Smith's comment, February 9, 9:42 AM
Yes, I see "Big Data", predictive and conversion analytics as the next frontier too. As if I wasn't reminded of this every day, our future is about to prove we should have paid more attention in math class :).M
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Online Sales Soar, Living Social Fires 400

Online Sales Soar, Living Social Fires 400 | BI Revolution | Scoop.it
From paper.li - November 29, 2012 8:09 AM
ScentTrail Daily, by Martin (Marty) Smith: Top ScentTrails From Around The Web...
Martin (Marty) Smith's insight:

Sometimes the magical tool @SmallRivers created (Paper.li) creates an interesting juxtaposition. Today's Online Sales Go Crazy headline created an interesting contrast with Living Social, the Groupon competitor, laying off 400. 

Online sales growth may speak as much to how poorly retailers understand their customers now. Read my Open Letter To American Retailers from Shoppers for more on this problem.  

The Groupon & Living Social Problem 

Trained as a brand marketer I would NEVER do what Groupon or Living Social suggests. To institute a 50% price cut in te hope of building your brand's awareness is madness because:

  • Unique Value Proposition (UVP) is destroyed.  
  • Attack one and done bottom feeders.
  • Smack loyal customers and brand advocates.
  • Create an unrecoverable wobble.


This last bullet is the most damaging. Once you put information such as our real price should be 50% off in the market you create a violent wobble. This wobble can vibrate to the point where there is no brand left. My best advice as a 30 year marketer trained by P&G and M&M/Mars? Don't do that :). 

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