Like, follow, comment and subscribe. Those are four popular words among social media users today, brands included. And when you are a company looking to engage with your customers on a personal level or speak to them broadly, social media has become the No. 1 place to achieve those goals.
“Social media is really today’s broadcast channel. [It’s where] brands are sharing information. They’re ultimately doing an aspect of advertising. They’re promoting. And these sorts of things are valuable and traditionally have been the place that marketers have focused and social media is just today’s channel for doing that.”
That’s Terry Sydoryk, the CEO of Chaordix, and on this episode of Marketing Trends, Terry discusses why something as simple as a double tap on a product’s Instagram page says more about how your brand is relating to customers than many other metrics.
Plus, Terry discusses the difference between social and community and how an online branded community can actually fill some of the voids that social leaves open. And he dives into online communities and how they are helping brands better understand how to build meaningful relationships with their consumers.
- It’s all about Community: The challenge for marketers from day one has been the ability to build one-to-one relationships with their consumers. Online communities, or social networks, allow marketers to build relationships with their loyal customers, while also experimenting with new strategies.
- Social Media is the New Cable TV: As brands continue to advertise and promote themselves across social networks, what has slowly happened is social media has become more powerful to brands than televisions. Now, brands are able to actively engage with their consumers while getting a better understanding of what media leaves a lasting impression in real-time.
- Why Do You Assume You’re the Smartest in the Room?: Consumer intelligence continues to grow. Today’s consumers are extremely knowledgeable and they can see through the typical smoke and mirrors of marketing that has worked in the past. When communicating with buyers, be direct in what the intent is and don’t try to fool them.
- Key Quotes:
“There is value in social networking, there’s value in online forums, and there’s obviously a need for insights.”
“Really, the challenge for marketing from day one is working down to that one-to-one relationship with your end consumers.”
“Today’s consumer is looking for the brands that are demonstrating purpose. And the brands that are interested in working with the end buyers or the consumers of their products and services.”
“We feel community provides engagement and control, and ultimately the brand owns the community. That’s why they can foster that engagement and ultimately control the environment as well as the data that is collected by the community itself.”
“Social media is today’s broadcast channel. Brands are sharing information. They’re advertising, they’re promoting, and these things are valuable. Traditionally [social media] has been the place that marketers have focused on a channel for community. It’s a place where we can gather our consumers, manage that interaction, and really gain an appreciation and an understanding for the folks that are buying our product.”
“Today’s consumers are extremely knowledgeable. They’re extremely bright, and they see through any facade that is anything other than what the intent is or what is communicated. So if you want to build a community for the value of the consumers, then the last thing these folks want to see is you continue to pitch or sell to them.”
“We’re very much in an exchange economy. There is a willingness to give up personal information if it’s also benefiting [the consumer] in return.”
“Twitter, Facebook, Instagram is a signal to a brand’s affinity. The number of likes, follows, et cetera, that a brand has is extremely interesting…These individuals have in essence, put their hand up and said, ‘Hey, I’m interested in your brand. I’m interested in what you’re doing.’”
Terry Sydoryk is currently the CEO of Chaordix, a Yaletown portfolio company that is a global leader in crowdsourced brand and product innovation working with clients including LEGO, Rustoleum, HSBC, HET, American Airlines and Virgin.
Terry has more than 25 years of senior management experience in the technology industry, with over 15 years focused on company creation. Terry was a co-founder of AudeSi Technologies Inc, which was acquired by WindRiver Systems in 2000. He then joined the leadership team of Toronto-based Plazmic Inc. as COO, which was acquired by Research in Motion in 2002. Later he was COO of Calgary-based Evoco Inc. which was acquired by Accruent in 2012.
He has been active in the Calgary Technology sector as an advisor, board member and angel investor. He is a founding member and director of the A100. An engineer/MBA, Terry began his career with Nortel and worked in the areas of Finance, Product Management and Business Development. He spends his time away from work sailing, riding motorcycles and coaching competitive hockey.
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