Check out this video from Accenture. It shows thoughts of experts in field of cloud computing – their explanation of just how this new concept works is highly eloquent and cuts through much of the clutter around this subject you may have read about.
Oh, one thing. These experts are ten years old. They know nothing else. They can’t remember a time before the internet. They are your key influencers of the very near future.
I am having a row with someone on a Linkedin group discussion.
It’s brilliant therapy! They are moaning about the fact that new Twitter will remove a brands wallpaper and replace it with video, imagery and threads of a conversation that you can only currently see by leaving the main Twitter page.
One quote from my opponent is this:
“How would you feel if you are making a living making custom Twitter backgrounds and you just found out that your profession was made obsolete overnight?
Angry? Hell yes!”
There are people out there who make a living doing nothing but this? Holy moley!
Here’s another:
“What if you have been building brand recognition for a client with their custom Twitter background being central to their brand strategy? How do you now tell your client that you have to rethink their entire brand strategy?
Angry? HELL YES!”
So, some poor business has been told that their Twitter wallpaper is central to their brand strategy, that now needs entirely rethinking?
Wow!
I’d love an introduction….
Perhaps my adversary is realising that they might actually have to write something interesting for their client now and is coming over all peculiar? After all 140 characters is lot these days isn’t it?
Or am I being facetious?
After some investigation into the area of the use of social media by those companies governed by the FSA (Financial Services Authority), it is heartening to see that such a heavily regulated industry has some fairly light rules that its members are asked to observe.
Whether this refreshing lightness of touch is down to the firm belief amongst those in the FSA, that by its very nature social media is more volatile than traditional media channels and so needs less guidelines, or whether it’s down to a lack of understanding of the potential pitfalls and opportunities, I’m not sure. But I have my suspicions.
Nevertheless, it would appear that a two page pdf is enough to guide its members at this stage.
It is interesting however that the FSA guidlelines are entitled “Financial Promotions using New Media”.
Why first pick “Promotions”? Surely because the authors assume that this is another push channel for its members. In fact the opening section states, “We have produced this update following a review into the media channels that firms use to communicate financial promotions to customers. In particular, a shift towrds the use of ‘new media’ has been noted”
It sounds like the warnings that parents of teenagers heard in the fifties, when warned of the dangers of this new music called ‘rock ‘n’ roll’!
They do suggest guidelines for “Non-promotional communications”, which quite rightly state that communciations be “..fair, clear and not misleading”.
Finally there is a section called “What should you consider before using new media?”
So remember that Twitter can only handle 140 characters! “There will be no dancing in the aisles”!
It seems that as long as companies follow the current guidleines they’re covered. But the lack of detail is revealing.
What’s even more surprising is what’s not covered.
There is nothing here about blogs and Facebook pages that will solicit third party content. Nothing about staff training and supervision on using social media tools, nothing about SMS or chat rooms and nothing about the role of agents of companies governed by the FSA.
By comparison FINRA, the US equivalent of the FSA, have published a lengthy report, also aimed at helping its members.
So, I’m beginning to feel as though the FSA is acting a little like rabbits in the headlights and perhaps hoping this will all go away.
But guess what?
Interestingly FINRA has a blog, several Twitter accounts and a Facebook page.
The FSA doesn’t.
Stubborn, intransigent, awkward and obstinate. We’ve all behaved like that at one time or another. Usually between the ages of 2 and 7. But for a “Professor of Marketing and an Expert on Branding” to continue to insist that social media is “…a new and relatively insignificant communications tool that has limited potential for a very small proportion of brands” as he did in the latest issue of Marketing Week, is astonishing.
At the Engaging Times Summit in Chicago last month, the great Stan Rapp announced his conversion to social media. Indeed one of his memorable quotes was “Stop advertisng, start dialoguing”.
Rapp’s conversion was based on the very numbers that the Professor rests his arguments on. Ritson says of Tesco’s Twitter page, “And what about Tesco? It’s arguably Britain’s biggest and best run brand and yet it has a grand total of 281 followers. Are you starting to see my point?” No Mark.
What this says to me is that Tesco have yet to grasp the potential that social engagement tools offer. In fact, having just checked their page, it appears Tesco are really confused! I’m not clear which Tesco Twitter account is the official one, but twitter.com/tescostores (which I suspect is the official version) last tweeted in April 2009! Do they promote it on their advertsing materials, their website or even their till receipts?
No!
In fact the tell tale sign that brands haven’t grasped the potential of Twitter, is that it isn’t promoted at all on their ‘Contact Us page!
Well, if they’re not tweeting, the it’s a good job they don’t promote it!
Go figure Mark.
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