Posted by: lalunablanca | February 23, 2008

Analytic Void in Social Networking

(This is a response to a conversion on Jeremiah Owyang’s blog at about Remembering the Many Opportunities of Social Media –not just the Impacts of Advertising . I spent enough time on the response that I wanted to post here as well).

We’re most recently spoiled by the opportunity to measure our CTR’s and ultimately conversions. Consciously or not, we all make a Value|Risk assessment before we choose to convert from prospect to customer.
An enterprise’ initial experience in Social Networking should be to establish a presence and engage its existing client-base. In my presentations and conversations, I drive that point hard and also drive the point that an enterprise should NOT initially use SN to gain market share. What I don’t drive as hard and maybe should is:

By virtue of visibly and actively facilitating a conversation with its existing market, a brand will passively expand its market.

Perhaps we should remember that consumers still get to choose (even when lead to water) to convert. In the Value|Risk assessment, we recognize value in the existence of the conversation. We feel a reduced risk because we derive a sense of security knowing that we will be heard if a problem arises.

Because a consumer can derive this additional Value and reduced Risk WITHOUT participating (just lurking), it becomes almost impractical to measure.

I hate to think that we’ll have to get to numerous market surveys to convince the masses. However, this leaves the playing field less impeded for those wanting to adopt now. 

Cheers to them!


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