I had a great thought come to me last week during a fun rollerblade I had along a Lake Ontario trail, here in beautiful Toronto. For some reason I get some of my best ideas while being physically active.
Friday, May 22, 2009
I have heard the term "social media marketing" (SMM) many times before, but never really fully got the point of it until I realized the potential in responding to Twitter conversations in real time based on very targeted phrase searches.
I think how most companies use SMM strategies is to pretty much track mentions of their brand and then have individuals jump into those conversations. I consider that to be more on the side of brand management, but I suppose it's part of an overall SMM strategy.
What I want to deploy is something that engages people in real time according to what they are tweeting about. For example my company's video sharing site could track video creators to see where they want to upload their video content to other than YouTube. Or if they want features that the popular video sites don't currently offer. The next step would be to provide an answer to their problem while tying in the site as a solution.
Instead of hiring people as employees to do this, I have been debating whether it makes sense to offer a new sort of payment model. Something like 10 cents for each direct engagement made, 5 cents for each "branded" tweet sent out, and maybe 1 or 2 cents for each new follower that is attracted as a result. The real question for me now is, will this provide scalable and tangible value?!
I'm not sure when I will roll out this campaign for my company, but you can be sure that if it successfully works that I will be inspired to develop a simple web service that other businesses can use to improve their current SMM efforts.