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.

A word about trust on in the blogosphere and social media in general:

There is considerable discussion about how businesses can tap into these conversations. Another angle is the practice of paying bloggers, which some say is no different than paying ghostwriters of a book.

All of the above will be tested during the next couple of years as society continues to use social networks and other sites that have “word of mouth”-like components. A key to figuring out how business can use social media is to understand why social media is different than any other media.

Social media is a movement. Social media is a people place, not a market place.

The blogosphere has had millions participate because of a need to be recognized, even by just one other person. Social media has taken hold in equal numbers because of the need to be a part of a group, the need to connect. These are basic human needs, not driven by economics.

There is also a cynicism in the U.S. that I believe has contributed to the rejection of most forms of advertising, a growing distrust of corporations and a political system viewed as destined to be at odds for the foreseeable future.

The major structures of our society — financial, legal, and political — have their roots deep in the last century of ridged, industrial growth and are not yet capable of appreciating or assimilating a more open discussion created by social media.

If you are a marketer, a business, and look at social media from the perspective of it being a movement, it will change the way you approach social media. You will be a participant rather than a party-crasher, a thoughtful listener rather than a loud bore, and a valuable contributor rather than a self-serving taker.

Blogs that contributed to my thinking on this were:

• PR-Squared
• Web Strategist
• Doc Searls on the intention economy (at Stowe Boyd’s /Message blog)

What’s your take? Make a choice: Is social media more movement or marketplace? Remember, every comment we get we will contribute a food item to a St. Paul food shelter.