there’s gold in that there microblogging
December 18th, 2007
Thanks to Facebook mobile, I finally get it.
Microblogging, the art of posting content at no more than a small number of characters at a time (say 200 or less) and made famous by Twitter, was a complete mystery to me when first introduced by the big win at last year’s SXSW.
I soon thereafter joined the site and within a week decided posting updates about trips to the gym or sitting in airports were ridiculous. Since then, however, Google acquired microblogging platform Jaiku and the grandfather of the Web said this form of communication was the future.
So, I gave it a second chance, adding updates to my Facebook and MySpace accounts. However, it wasn’t until I uploaded Facebook mobile to my phone and took a trip that things started to click.
By microblogging about your life, you start weaving a tapestry of who you are. Like pieces to a puzzle. And you start connecting with people in a way you’ve never done on the Net before. Since getting into it, I know the favorite sports teams, party schedules, family events and even tragedies of others.
One quick example: While in Houston recently, I microblogged that I was enjoying fajitas. Soon thereafter, a connection contacted me about where I was eating, would I recommend it, and could they join me for a Corona or two. That was the moment I realized the business potential of microblogging.
Microgold
The profitability of search is directly tied to immediacy. I need something. I search for it. I buy it. If social networking is really going to cash in on its popularity, it has to find a way to create a similar model. Social Ads are suspect so far, but I think the real opportunity is in microblogging.
In the book Why We Buy, we learn that stores like Target couldn’t exist without random purchases. That is, you intend to get shaving cream only, but end up buying toothpaste, detergent and the latest Scorsese DVD as well, because of discounts or whatever. Amazon has perfected this by recommending similar items whenever you purchase something from them.
Now back to our fajita example. If you’re an advertiser of such things and start thinking about what you could do knowing I was a fan of fajitas, flew to Houston from time to time and was in an airport, you’d start getting pretty excited at the opportunities.
Unlike search, I wasn’t directly looking for such information, so it’s not quite as appealing, but it’s still pretty good. Two for one fajitas coupon? Cheap flights to Houston? Frequent traveler discounts? Price reduction for purchases at a Houston airport magazine stand?
As a marketing junkie, I look at each new update by someone in my network and marvel at the potential. Oh, he’s a Redskins fan, huh? Wow, she’s on a flight to London. Hmm, she just bought a puppy. And yes, even job-related content. “Hating my job” has to be a popular update every Monday morning.
I even think microblogging could become like search, where every new update could be targeted to an individuals activity. If I’m at a mall food court, for example, I might add an update that I’m interested in having Chick-fil-a, hoping a good deal would pop-up. Maybe even a competitor offering a better deal?
And don’t forget that mobile marketing has the ability to pinpoint where you are for even greater ad opportunities. That, combined with behavioral targeting and knowing activities in aggregate via microblogging, packs a powerful punch.
Granted, such marketing isn’t without its pitfalls. Pay-per-click ads have shown us that ads must be relevant and unobtrusive to work effectively. Targeting microbloggers will be no different. But when you start thinking about the dollars to be won, finding that way gets pretty attractive.
December 18th, 2007 at 8:48 pm
Good idea but at the same time kinds creepy as the thought of marketers finding you where ever you seems like a bit of invasion of privacy.
December 19th, 2007 at 4:46 am
yeah, kind of scary to know that all this data could be used for marketing purposes. But then, why do people microblog or twitter or leave little messages in MSN, etc. if it is not to attract attention from others? I think microblogging follows the same rules as leaving deliberate traces on the internet: each individual controls what they publish and thus they should be careful about what they (micro) blog.
December 19th, 2007 at 7:04 am
Joel, I have another take on microblogging, and specifically Twitter. It has by far been the No. 1 tool for me in 2008 — even more valuable than my blog — for getting out the word about events and building my personal network. I just signed a consulting contract on Monday that came after I saw a random message asking from someone looking for podcast production assistance. I’ve also started a monthly Social Media Breakfast series in Boston (there’s interest in having one in Cleveland early next year, by the way!) that’s grown by leaps and bounds in just a few months thanks to some help from Twitter.
So, some of it’s serendipity and some of it is just plain relationship building. But it works.
And Joel, I see you haven’t updated on Twitter in 7 months. Time to get back in the game! I’m @Bryper over there, and I’ve just started following you.
December 19th, 2007 at 3:46 pm
Joel,
Thanks for the post and relating the experience. I remember meeting with a professor at the university of Texas in 94 - 95 and we would discuss selling shoes over the internet - and socks - and polish - and belts. So I think you are on to something using microblogging as a platform for marketing/selling. I have to get in and try. BTW what about controls on the data I want to receive or allow out? Are there ways (yet) to manage?
December 20th, 2007 at 1:50 pm
I agree with Bryan (although I have no idea what my No.1 tool for 2008 will be :p). There are people that will trash twitter or microblogging, and it certainly does require an adjustment in the way you communicate (or think about communicating), but it is very powerful to pull together a quick lunch, event, etc. I posted about a ipod on Twitter and got awesome response… the list can go on and on. I’m not saying it’s the be-all-end-all, but it is powerful, just like all the other tools (which means, it has it’s boundaries, and there are ways to optimize the value).
December 22nd, 2007 at 8:06 pm
Oh! I might have to try this. Thanks for the advice!