The technology dilemma: New technologies are developed quickly and less costly today than even 10 years ago. New technology implementation requires the precise work of three groups: path finders, bridge builders and commoditizers.

1) Path finders: They forge a wild river. They develop for the joy of a challenge and/or the dream of wealth. Many times they traverse to unknown places. They prudently cut a path with precision moving toward a desired destination. They may not know exactly where they are going, but they are learning and discovering with every step.

2) Bridge builders: These are the ones who help the masses on the populated side of the river come across. They painstakingly educate those fearful of going over the bridge and in some cases hope they don’t loose sight of the path finders.

3) Commoditizers come along with the masses and build different uses for technologies that have become common. They help drive the price down, expand usage and, with it, less risk in implementing that technology in a typical business.

The issue that Jeremiah Owyang of the Web Strategist Blog raises in his Utterz post from Nov. 29 is whether the technologists are moving too fast. In my parlance, are the path finders rushing ahead so fast that they are in danger of being alone in the wild?

The pace of what technologists can do is outracing how significant portions of the population can use it or can pay for it. The question technologists and consumers should answer jointly is: Can the new technologies be applied to provide sufficient value that it is worth changing from what we do now?

Social media and different issues than the 90s:

• A more fragmented market, which could mean less total revenue per technology
• Less costs, which potentially mean higher profits per technology
• Insanely short product life-cycles, putting all technologies in danger of being overtaken
• Potentially misunderstood brand power of technology, when the real asset is the communities

The Bar Syndrome

What would make me the most nervous as an investor? Understanding exactly what the asset is and how will that asset sustain itself and grow. I believe a good metaphor is that many of these social media technologies are like investing in a bar or restaurant. If that establishment can be replicated to attract enough people, then you’ve got a winning franchise. If, however, the people are fickle or a new bar opens down the street with better looking, livelier people, then what is left?

The accessories

We are to the point of application accessories; widgets is the accepted term. The issue is how these accessories are going to be paid for. An interesting question formed in the negative, just to make it more painful: What two technologies can you give up today?

A typical business with an abundance of meetings, limited budgets and cautious management needs time just to understand how these technologies are going to add value to the company. Patience is a virtue. Will the marketplace reward patience?

I worked at a venture capital firm in the 90s. There were companies working on 360-degree images of shopping malls, med-tech applications for desktop radiological reading, and video-on-the-Web capabilities. It was just a question of timing more than applications. Those ideas are well in place today and profitable.

History does help predict the future; we just need the patience for the future to catch up with us.

Time 12:56

The first stop for marketers who are attempting to determine how to approach social media is to listen to the conversations taking place on the web. Most executives are going to ask, what are people saying about our company or our industry? Who are they and does it matter to us?

While the numbers for social networking are mind boggling, an estimated 60 million users on Facebook alone, the perplexing issue for marketers that have must justify their spending is what is the impact to the company, will it grow sales, brand, influence? Or conversely, will not being there hurt us in some way?

In this podcast we highlight one company that can help answer those questions. Umbria, who can be found at www.umbrialistens.com. There tools search blogs, product review comments, and other social media sites looking for company mentions and more importantly context. For example, it is not good enough to learn that Starbucks was mentioned, but that a woman having a bad day found a moment of peace over an egg nog latte at Starbucks. Now that is listening. Umbria industry reports include healthcare, consumer electronics, and other industries

For those into the viral marketing concept, whether Umbria or a strategy that includes alerts and watches from Google, Technorati, Digg and others, the key is having a process that puts your ear to the ground – sorry had to use a cliché somewhere in this piece. Other tools include Sentiment Metrics and Cymfony, there are plenty of choices. Ths issue is with growing numbers of participants in social media, this tactic should be on your 2008 coporate marketing budget.

Do you have a strategy for listening to social media? What tactics do you find helpful?

Join the Conversation Giveaway

Joseph Jaffe’s book Join the Conversation is a good one. Well worth the read. We are giving away a copy with my comments included in the margins. It’s my way of joining the conversation – email me at marketingedge@providentpartners.net with Conversation in the subject line. We’ll have a drawing for the winner on December 19.

Giving Back

Every comment and email we get Provident Partners donates a food item to a St. Paul food shelter. Last month 24 items were donated. Thanks for sharing.

Time 14:43

OK, let me put social networks into some kind of perspective so those that have a life beyond the Web can appreciate the concept:

So you’re having a baby. I understand, having five children myself, that women get together for a baby shower and talk about baby stuff. That stuff might include some of the experienced mothers sharing the joys of an early epidural or the sense of victory they have when scoring a great sale at Baby Gap. It could also be the expectant mother asking about C-sections or the complications of having twins. (Tell me about it: I almost fainted when I heard we were getting two for the price of, well, eh…two.)

Now those same conversations and more are taking place both down the street and on the Web at sites like Real Savvy Moms. This site also includes medical experts taking mothers questions and — oh, yes — plenty of things to buy, if necessary.

Those babies grow up, and drive cars, and go out well too late at night. And when they do (in Minnesota’s Twin Cities) they share their experiences (well, not all of them, but just the ones they want to share) at Vita.mn. The site is a networking hub of sorts for night life, culture and entertainment. And of course, the concept is that a restaurant, band, theatrical play, etc. that is recommended is worth experiencing. It’s true: “Everybody is a critic.”

And if you thought you have seen it all, there are 448 members of the Handbell community on Ning.com. (You need to be invited to be a member; those who don’t play handbells need not apply.)

Emarketer.com has an interesting report by Comscore showing that heavy users of social networking sites are heavy users of online retail Web sites. It describes the top 10 categories of products that are most active among online retail users of social networking sites (which proves you can lead a horse to water).

Give me more social networking

If you wish to drink more social networking water, then consider Blog World and New Media Expo, November 7-9 in Las Vegas. Excellent line up all three days, and there’s also a two-day conference package.

The variety of tracks lets attendees focus on a clear path to greater understanding, whether it’s the early-adopter jumping into the medium with both feet or the skeptic that is just trying to figure out what all this stuff means for their next marketing management meeting. Give a look-see.

If you are going, ping me at amaruggi@providentpartners.net and perhaps we can get together. You know, socially.

How do I reach all of these social networkers?

Lotame (LOW-tuh-mee) is one way. Lotame calls its audience analytical technology “Crowd Control.” The interview in this podcast with Lotame’s president, Andy Monfried, highlights how advertisers can reach users of social media sites within the topic areas important to both advertiser and user. After all, that’s the beauty of how technology and communities are progressing: It’s offering information to a person who is more likely to value that information as a enhancement to their knowledge base instead of considering it a chunk of time to be Tivo’d from their mind — if, in fact, it even made it that far.

Profiling can be a good thing, even for the consumer. Crowd Control can show the degrees of interest in a user’s participation with information and social sites of a certain topic and, like magic (well, kinda), more information is presented that the user values. This technology is best suited for midsize and large enterprises. Lotame’s Web site is directed to publishers and advertisers.

Time 17:04

Many companies are trying to understand how forms of social media can be applied to achieve their business and branding objectives. This podcast features two examples of the successful use of social media and user generated videos.

On this episode of the Marketing Edge, we feature Vespa scooters’ Go Green Challenge and the UPS new product launch of Delivery Intercept. We also provide some of the elements of these very different campaigns that may help other companies determine whether they have the chance for a successful social campaign.

The technology platform used in these two cases is Vsocial www.vsocial.com . To me Vsocial is a video platform that is on the opposite end of the spectrum from YouTube. It is structured for businesses to host a video generated campaign as a complete web-based platform or with developer APIs so agencies can create the custom experience for those engaged in their campaign. Provident Partners has a vSocial site at http://www.vsocial.com/user/?d=144923

The agency work featured here is Matrixx Pictures for Vespa’s Go Green Challenge and Lbi Atlanta that created the UPS Delivery Intercept program. Side mention here, Archie Manning (old school) Peyton Manning’s dad, is the spokesperson for the Delivery Intercept program. Script and copy writers should listen to Archie’s segments, the writing is outstanding.

What Makes These Good Campaigns

Here is a general list of criteria for these two examples that I believe companies can use to evaluate their audiences as they consider similar types of campaigns. Let me underscore, these are general profiles of an audience. In some ways even trying to put people in categories goes against the grain of social media and 1-1 marketing, nonetheless, marketers like to have some semblance of structure as we describe the market we are seeking to attract. So here goes.

The Vespa campaign audience I categorize as Creative and Socially Conscience. This includes people who may be in areas including:

The creative type of audience is more likely to participate when the campaign involves producing something from scratch or interpreting a situation. Some may be in it for professional exposure so incorporating a set of judges known in that craft is also helpful. These types of campaigns involve lots of work and time on the part of those producing the content.

The UPS Delivery Intercept campaign is what I call Naturally Occurring

These are events that are part of everyday life and as such are likely to be recorded. This audience is participating for fun, hobby, 15 minutes of fame, and being part of a group.

In this category, there is less burden on the participant to be creative in building a storyline and requires less production skills. Their submission is a chronicle of an event that is potentially appealing to a similar audience. These are the characteristics of the Delivery Intercept program. In many cases, successful campaigns also have some recognition and reward, whether it is prize money for the winner or a charity of the winner’s choice.

Comments Bring Good Things

Remember any comments to this blog or emails to marketingedge@providentpartners.net will result in a food item contributed to a food shelf in St. Paul, MN. Also did you listen to the opening minutes of this podcast for the movie quote question? If you are the first two listeners to submit the correct answer you will win a $10 gift certificate to Subway, so quick hit the play button and send your email answer. What can I say, we like to see people satisfy their hunger.

Time 7:58

Karen O’Brien, a partner with the Crimson Consulting Group constructs a new way for marketers to evaluate the customer landscape. O’Brien says the outdated description of acquiring customers is to acquire, retain and grow them. Web 2.0 technologies, social media and the abundance of conversations taking place on the Web about products and services have painted a new perspective of the market.

That perspective, according to O’Brien, is attract, engage and extend. Her work won the Marketing Thought Publishing contest sponsored by the Silicon Valley chapter of the American Marketing Association.

I agree with Karen — and with that change comes the uncomfortable reality for marketers, CEOs and sales people that they don’t have control of their brand, as was once thought. One can make the case that companies never controlled their brand. People talked about their negative and positive experiences just as much as they do now. The difference is the proverbial backyard fence is replaced the Web and today their opinions are received by more than the next door neighbor and Aunt Mildred. Nothing against Aunt Mildred.

In this podcast, we discuss the Forrester social media ladder and an excellent example of corporate blogging policy at Sun. O’Brien will be speaking at the Online Market World event at the Moscone Center in San Francisco on October 3.