I recently had the chance to go to SXSW 2014! It was an amazing feeling, being at the very cutting edge of new technology and research for both products and marketing strategy. Part of this series is dedicated to what I’ve learned over the wild and crazy experience I had in Austin.
The first bit of guidance given by the panelists at the convention was to understand your audience. The one I primarily work with is much older and more in tune with established business practices. The use of social media to drive traffic is a new phenomenon, albeit a cost effective one that expands a company’s reach. Establishing the value of this new medium to the older generation is broken down by the following factors.
The worth of social media and the rate of investment is measured by how many followers a company has. For instance, when initiating this program the number of followers has increased from 500 to 716. This is a roughly 30% climb in viewers. In order to have this number raised even further a company must look to its own culture.
Taghleef Industries is a richly diverse company founded in Dubai. It’s subsidiary organizations include operations in North America, Europe, Egypt, The Arabian Gulf, Australia and China. The ability to perform as a global company includes the ability to reach across cultures and languages. By combining regions that produce our material and having sales offices in the major financial markets, TI has a formidable presence in the market. There is also another reason behind the success of Taghleef Industries. The primary topic that often comes up is how to be a more sustainable organization. The introduction of bio-resin based products, lighter films and more diverse markets has enhanced our marketability as an organization. Utilizing new technology such as social media and online metrics also assists in potential reduction in paper products. Before I get ahead of myself, diversity and sustainable practices must be embraced by all aspects of an organization. The culture of a company’s founders are to be embraced by all.
In a second conference about utilizing Twitter, the two speakers focused on getting businesses to utilize their best assets, their followers. In digital marketing using followers is a tremendous force multiplier. When a tweet or message is resent via a list of company contacts (clicking the retweet button), those individuals will have that message on their message board. An excellent example is of a sales officer giving a talk at a conference of 400 business people at a convention center. Before walking up to the podium, the salesperson tweets a link to the specific event that is his company is sponsoring. This message is then circulated to over 600,000 individuals online. The number is increased even more when photos and video of this event are posted. When this message is circulated by each of these users, the ROI (rate of investment) increases. The lesson learned is to always think of where company employees are, rather where they are not. Special events, philanthropy, new products, and public relations are all suitable topics with this new communications medium.