SXSW – Lessons Learnt on Day 2

author/source: Miles Galliford

SXSW – The Biggest Internet Trends From The Worlds Biggest Internet Event

Lessons Learnt on DAY 2

  • Social media marketing IS marketing - One of the strongest themes running through many presentations is the importance of social media marketing. 14% of people trust advertising; 78% trust peer recommendations. Brands, companies, products and services will succeed or fail based on whether they are recommended on the social networks. Scary for big business!
  • The secret of social media marketing -The secret of social media marketing success is Listen => Interact => React to feedback => Sell (if appropriate). Then do it all again
  • Everyone's a marketer - Everyone in a company is a social media marketer. Marketing no longer happens within a marketing department
  • Find the super powers of your super heros - Large and small businesses should identify what their employees enjoy doing and then nurture these skill. HubSpot found that one of their employees was good at drawing cartoons. They encouraged him to draw some cartoons for their website which have now become one of the most important drivers of traffic and loyalty. Think writing, twitter, videos, music, cartoons, creating quizzes, etc.
  • United broke my guitar - Watch this YouTube video to see how much power a single consumer has - 8 million views
  • What is Socialnomics? Watch this excellent video
  • Press releases are spam
  • Quote from McDonalds: "Our head of social media is the customer"
  • Quote: "What goes on in Vegas stays on YouTube" - there is no such thing as privacy anymore
  • Quote: "Social media is the canary in the mine for businesses"
  • Business Guessing - A business plan should be renamed Business Guessing. A financial forecast should be renamed Financial Guessing. Don't waste time on detailed plans; they are irrelevant one minute after they are finished!
  • Stand for something or you stand for nothing - Every business and individual who is remarkable or famous has a point of view they stick to. To be successful online, have a point of view and defend it even if you make enemies
  • The hot dog is critical - A hot dog stand will live or die by the quality of their hot dog. They could have the best bun, mustard and pickle in the world, but they are worthless if the hot dog itself is not very good. Every company must identify what their hot dog is and make sure it is the best it can be before worrying about the bun, mustard and pickle
  • The internet will save the world - Joi Ito, the internet guru behind Creative Commons, made a good case for the internet succeeding where governements have failed to democratize the world. Open source, global web standards and ubiquitous availability of internet access gives everyone in every nation an opportunity to become somebody. We are entering a period where there will be a tsunami of innovation. If you think change is happening fast today, you ain't seen nothing yet!
  • Quote - Jason Fried: "There is no such thing as a startup. It is either a hobby or a business"
  • Ignore competitors. Watching competitors and becoming obsessed with what they are doing nearly always leads to creating a camel, rather than a race horse. Focus on your customers, identify what they REALLY need and build it. Simple. Ignore what your competitors are doing.
  • Let your customers outgrow your business. It is better to let your customers outgrow your business than let feature creep destroy the simplicity that made them become a customer in the first place

Click here to read about day 1 of SXSW.