Cracking the Code of Internet Marketing Strategies – When to Adopt Social Media for Your Business?
These are questions I get about using social media as part of the brand strategy conversations. Fundamentally Innovators seek new ways of doing complex tasks and are willing to take the risk hoping to gain competitive advantage over time.
The Early Adopters want speed and cost savings to drive other innovations that’s mostly perceived advantage. I see the rest of the adopter groups (early majority, late majority and laggards) as Mass Market. The idea of adopting new technology is to improve productivity and fuel growth, not to chase the hype or follow the trend for the sake of doing it.
You need to ask yourself this: How much risk are you willing to take investing (time, resources, money) in social media?
Don’t get me wrong, the timing of adoption is important and it could bring unexpected opportunities, but not if you’re unable to optimize the value from it. You need to have the right adoption strategy at the precise time that gives you the longest lifetime value at an acceptable level of risk. You can see some examples of mergers and acquisitions by companies attempting to harness innovation in the adoption lifecycle.
Being a happy Skype user myself, I know the value of Skype today but eBay’s timing of the acquisition was simply off not to mention it didn’t fit with their business model. A better approach would be to find something that aligns with their line of business in auction listings, classifies and ecommerce. As a technology spreads widely, the economy of scale expands but its value will start to shrink. Email is supposed to improve our communication and productivity but as we’re at the end of adoption lifecycle spam has exploded, “now accounts for 90.4% of all e-mail,” costing us more time, resource and money to manage email. This is why companies like Google is re-inventing the email landscape with Gmail going heads on against Microsoft’s Exchange email. For social media one could argue that we’re still in the Early Majority section of the Mass Market and we’ve yet to see the explosion from the Late Majority section.
Regardless, the adoption of social media will continue to grow according to Forrester Research.

Take away: Adopt social media for your brand when you’re ready, even just to experiment, you still need time and resources.
Wikis are great as a collaborative platform but it doesn’t scale well and I think usability plays a big role in future wikis if they can be as dynamic as a blogging platform with embedded interactive medium like videos, audios and slides.
E-mail Marketing is a form of direct marketing which uses electronic mail as a medium of communicating commercial messages to an audience.
Bulk email marketing has slowly become the most popular method of online marketing second to search engine marketing.
Newsletter Marketing helps in keeping customers well-informed about the latest development in your business. Our Email and Newsletter marketing tools maximize email marketing campaignsa€™ Return on Investment by assuring that right email is sent to the right person at the right time.
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This is when I introduce the theory of Technology Adoption Lifecycle (aka Rogers’ bell curve) to illustrate product adoption to better understand how new ideas and technologies spread especially in today’s digital culture. This group relies heavily on the concept of social proof and wants proven process from credible source that demonstrates significant cost savings over the existing way of doing things. EBay does own paypal, which is a great buy because it actually enhances their online auction business and helps to extend their brand to reach more customers.
I like their consumer social technology profiling tool that allows you to check the profile of your customers.

We’ve been working on something we call the New Media Life Cycle at Tippingpoint Labs. Broadly speaking, every e-mail sent to a likely or existing customer could be considered as part of e-mail marketing. Businesses large and small can use bulk email marketing to generate leads and traffic, making the Internet a level playing field. Newsletters containing information about the business updates are sent to readers who have subscribed to newsletters, so that they can know more about your products or services. Usage of these tools results in more revenues, higher customer engagement levels, decreased program costs, and lower email opt-out rates.
Whilst it's oriented toward people working in product management, we encourage and welcome anyone with an interest in collaborative innovation.
According to Malcolm Gladwell, a maven is someone who "accumulates knowledge and who has information on a lot of different products or prices or places", which pretty much sums this group up!
Looking from the hind side, a company like Craigslist (they do own 25% of it) would probably make more sense to go after. Studies have shown that the average bulk email campaign yields a one- to two-percent response. So, promote your business and boost sales, by building mail list and bonding with your customers.
That may not sound like much, but one-percent of one-million recipients' equal 10,000 new customers! It is one of the best ways of advertising to remain in contact with customers and build a healthy relationship with them. We’re actually publishing a definitive guide to the New Media life Cycle at the end of the month.

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