Is The Social Media Slumber Finally Over For Big Brands?

Perhaps it is because I am the father of a 13-year old daughter but whenever I hear the word "slumber" I immediately think of the phrase "slumber party" - which then conjures up fun, unless of course you are the host parent of said party.

However, if you're a big brand, say on the level of a Fortune 500 brand, your "state of inactivity" - AKA your slumber - when it comes to social media, may finally be over. At least it may finally be over for some as that's the indication one gets from reviewing data from a recent study from the University of Massachusetts Dartmouth Center for Marketing Research.

You can clearly see the uptake in social media usage across the board re: the big social media networks. Most notably is the increase in blogging among Fortune 500 companies - up 28% in just one year.

However, the study delved deeper into blogging and in fact showed that blogging among Fortune 500 companies is up over 112% since 2008.

And try this stat on for size re: blogging: Brands ranked in the top (Fortune) 200 were more likely to blog than those ranked 300-500.

Coincidence?

Here's some other findings/stats:

• The 171 Fortune 500 corporations with blogs represented 58 of 75 industries in the Fortune 500.
• 8 of the top 10 corporations actively post on Twitter.
• 72 of the 75 industries represented in the Fortune 500 use Facebook &  Twitter
• Only 1 of the top 10 companies (Ford Motors) is on Instagram.
• Walmart is the only company among the top 10 to use Foursquare.
• Half of the top 10 have a Pinterest board.

And speaking of Pinterest, in what should come as no surprise to anyone, it has seen a growth of 350% YOY, 2012 to 2013, going from 2% to 9% adoption among Fortune 500 brands. It is worth noting we're talking very low numbers - 11 companies in 2012 to 45 in 2013 but, you can surely expect to see that number increase as more and more brands take full advantage of the visual-social networks.

Why Has It Taken So Long?

I am a very curious person by nature so when confronted with facts and figures like those above I am left wondering "why has it taken so long for so many large, multi-billion dollar brands to realize what we already know?"

Social media is not a fad. It is not going to go the way of other fads and one day be found on sale on eBay or discovered by the American Pickers sitting in someone's farm with dust and cobwebs over it.

It is where your customers and future customers are spending more and more of their time so why would you not want to be there with them?

Not that should I have to do this but I will anyway.

Just some, some of the latest stats re: social media usage:

• 27% of time spent online is on a social network
• Facebook has 1.11 billion monthly active users
• Twitter has over 550 million users
• More than 1 billion unique users visit YouTube each month
• There are more than 2.1 million LinkedIn groups
• Pinterest has nearly 50 million users

So why Mr. & Mrs. Brand?

Why has it taken you so long to come around and why so others among you continue to resist the open invitation to join the party - the social media slumber party?

Here's a few of the reasons I believe it took so many brands to accept the invitation and/or continue to refuse it:

• Fear. Pure, unadulterated fear. Fear, when it comes to social media, comes in many shapes and sizes and at or near the top of the list for brands is fear of saying something or doing something stupid - for all the world to see.
• Lack of true ROI. This reason is perhaps trotted out by more brands as to why they don't participate in social media. Plenty of articles written about this topic. Here's a real good one from Natalie Burg, my fellow Forbes contributor: How To Measure Your Social Media Return On Investment
• Lack of content. I think there are still a great number of brands - both big and small, who know they need to be at the party but simply do not know what to say; what to share, what to post and on and on and on. So they choose to watch from afar, hoping one day to take the leap - which of course they won't and it won't matter anyway for it will be too late.

The bottom line to all of this is very simple in my humble opinion.

Now, more than ever, it is vital to establish and maintain a relationship with consumers. And short of going door-to-door or inviting everyone over for a backyard BBQ, the next best alternative is to interact, engage and relate to them via social media.

Come join the social media slumber party.

Pajamas are optional.

Sources: Marketing Charts, umassd.edu, activecommunities.com

Named one of the Top 100 Influencers In Social Media (#41) by Social Technology Review and a Top 50 Social Media Blogger by Kred, Steve Olenski is a senior creative content strategist at Responsys, a leading global provider of on-demand email and cross-channel marketing solutions. He is a also a member of the Editorial Board for the Journal of Digital & Social Media Marketing and co-author of the book StumbleUpon For Dummies. He can be reached via Twitter, LinkedIn or Email. 

Relationship Marketing And Millennials

Ah Millennials, the much desired demographic of many marketers and advertisers the world over, for they are the future, as well as being the here and now. 

They are the digitized demographic, as some refer to them. At least I just did, anyway. While traditional marketing and advertising techniques have a place at the millennial table, it is the more digital-enhanced methods - i.e. mobile, that seems to play a larger role in capturing the attention of this group.

However one thing that marketers and advertisers need to be reminded of when it comes to Millennials is that they are people, too. I know, I know, shocking right?

Ok, sarcasm aside, the fact is that marketers and advertisers, while trying to outdo one another via the latest digital, multi-media platform, must never lose sight of the fact that Millennials want everyone else wants today: a relationship. With brands that is.

Surely they want other kinds of relationships but that's for folks like Dr. Phil and those much more qualified than I.

Generation Stress

In fact, I will go you one deeper and tell you that Millennials want, crave and need a relationship perhaps more than any other generation.

Why?

One word: stress.

In an article for the Huffington Post back in February, Arianna Huffington referenced a study commissioned by the American Psychological Association which revealed that Millennials are the most stressed demographic. The reasons for their stress are many but the fact is this demographic scored the highest, or is it the lowest? on the stress meter.

Now surely I am not about to tell you that having a relationship with their favorite brand will be a magic stress-relieving elixir for the Millennial generation and in turn create lifelong loyalty with said brand. No, that would be foolish beyond all human comprehension.

But, what I will say is that any brand, advertiser, marketer, whatever that can create a relationship - and I mean a true honest-to-goodness relationship where Mr. and Mrs. Brand really understand a Millennial - well that can only be a good thing. It will surely resonate with this over-stressed crowd and maybe, just maybe, help sway them toward the brass ring: loyalty.

Experience The Relationship

Not too long ago I had the chance to speak with Nancy Smith, the CEO of Analytic Partners, a leading independently-held global marketing analytics firm.

She shared with me the results of a survey her company conducted. It was a national survey which revealed that 48% of people between the ages of 18-44 feel that any loyalty they feel toward brands in the future will be determined by the types of experiences brands create for them.

Now, I realize you may be thinking a few things after looking at the above chart:

"This is supposed to be about Millennials, yet it references those ages 18-44."

I realize the age breakout is somewhat higher on the back end then what is traditionally considered a Millennial but to be honest I didn't care all that much about that as the data still includes the Millennials, at least what many think of when they hear the term. And yes I understand that if we looked at ONLY Millennials the numbers may change but I don't think all that much.

"This uses the word 'experience' not 'relationship.' Is it the same thing?"

Of course it is. In this context it absolutely is. Do you not experience different things in a given relationship? Of course you do. And it is those experiences that ultimately dictate what kind of relationship it is.

The One Constant

Back in May I attended Interact 2013, the conference hosted by my employer, Responsys. Held in San Francisco, it was a week-long event whose main theme can be summed up in one word: Relationships. Speaker after speaker - from the President of Marketing and Platform at  Responsys Scott Olrich, to Bert Jacobs  founder of The Life Is Good Company, to American hero  Chelsey “Sully” Sullenberger to musician Michael Franti - who performed at a private concert.

Each and every one spoke about relationships in one way, shape or form.

That's the one constant marketers and advertisers need to remember and never lose sight of: ALL consumers, (and yes perhaps the Millennials more than others) need, want and quite frankly deserve a relationship with you. A two-way relationship with open lines of communication.

Where you address their needs.

Sources: Huffington Post, Analytic Partners, Google Images

Named one of the Top 100 Influencers In Social Media (#41) by Social Technology Review and a Top 50 Social Media Blogger by Kred, Steve Olenski is a senior creative content strategist at Responsys, a leading global provider of on-demand email and cross-channel marketing solutions, and a member of the Editorial Board for the Journal of Digital & Social Media Marketing. He can be reached via Twitter, LinkedIn or Email.