Skip to main content

Social Media for Entrepreneurs: Tips from Zappos, Match.com, and Method Founders

This Wall Street Journal video features an interview with Gary Kremen, founder of Match.com, Eric Ryan, co-founder of Method, and Nick Swinmum, founder of Zappos.com, where they shared some advice on using social media for small business (mainly on Facebook or Twitter). I agree on some of their suggestions but not the other.

Tips I Feel Useful
  • In-house social media staff is very important. Whoever manages a company’s social media activities must know the company, including the organizational culture, services and products offered, and the operational procedures. Otherwise, a company can repeat Chrysler’s mistake on Twitter.
  • Be consistent in feeding new content.
  • Carry on an on-going conversation on social media. Social media is more than just sales and marketing. Content creators also need to consider “WIIFM” (what’s in it for me?) and “IDNK” (I don’t know that) for the audience when posting updates and news.
  • Companies must have clear objectives when implementing social media strategies. Otherwise, social media can be very counterproductive for business.

Tips I Disagree
  • Will social media become less important if a company does not need to interact with consumers directly? I don’t think so. I believe that social media, if used appropriately, can be very effective in B2B, B2C, and C2C communications. Even if a company’ business model does not rely on B2C communications as much as the others do, they should still use social media, including Facebook Page and Twitter, to promote B2B and C2C communications. Additionally, recent research indicates that blogging can have a positive impact on a company’s performance in the stock market because companies often share positive information on their blogs.  
  • Is social media optional for senior executive members? It may work for Nick Swinmurn at Zappos.com, but I don’t think it will work for others. My question is: How can an executive make viable decisions on a company’s social media strategy if s/he does not even use the tools? Let’s use e-mail marketing as an example, if one does not even use e-mails, s/he may not know how to send or receive e-mails anyway. How can this person make good decisions on e-mail marketing?

Do you see my points? What are your thoughts on the advice provided by these three entrepreneurs?

 

Comments

  1. This topic is very appealing since social media is becoming so important in everyone’s daily lives now. Many companies have twitter and Facebook pages to communicate to their fans and customers and I think it is extremely effective when done properly. I agree with the points you feel are useful because it is important to keep the social media professional and consistent since it is a public representation of a company/business. I also agree with the last two bullets you mentioned. I think the only way social media can become less important to a company is if it is not managed and/or published correctly; even if a company doesn’t need to communicate to customers social media helps promote their brand name to other business and to the general public. I think it is interesting to see how many companies have begun using Facebook and twitter because these websites, to many college kids, are strictly for socializing with friends and peers; it’s cool to see how people are beginning to use these sites to their individual company’s advantage.
    Jamie Greer

    ReplyDelete

Post a Comment

Popular posts from this blog

Social media engagement is immune to COVID-19 (by Steven Valenzuela)

In the unparalleled world of COVID-19, individuals are flooded with choices: whether it be what to eat or what church service to watch. While there are marketing strategies to get consumers to purchase products to immediately increase sales, it may be a more beneficial to engage with low spending consumers in the short term, so that businesses can keep them for the long term.   Social media game strong   During this time, it is crucial to keep social media posts constant and consistently more than ever before. A recent podcast by eMarketer reports that social media outlets such as Facebook have seen a significant rise in usage. The reality is that individuals have more time on their hands, which is why it is important for businesses to utilize their free time to create content for their social media channels. In a recent interview with the hospitality net, Leland Pillsbury stated  “Customers are going to come back...And if you allow your competitors to reengage with the guests before

The 7 Ps marketing mix of home-sharing services: Insights from over one million Airbnb reviews

The 7 Ps marketing mix framework is a widely used managerial tool that helps businesses identify the principal components of a service product. The 7 P elements include Product, Promotion, Price, Place, Participant, Physical Evidence, and Process.   The 7 Ps framework can assist marketers in making decisions regarding segmentation, positioning, and differentiation. Even for the same type of products with different brands, marketers can still drive higher sales through the improvement of a product’s marketing mix.     The empirical study about 7 Ps of home-sharing services   Building upon the 7 Ps marketing mix framework, I led a research team in a big-data, supervised machine learning analysis of over 1.14 million English reviews of 37,092 Airbnb listings in San Francisco (SFO) and New York City (NYC). We aimed to discover new meaningful business intelligence through the analysis of an immense quantity of online review information that is created by consumers in the cyber marketplace

Will Amazon’s new palm recognition become the next popular biometric technology?

Amazon recently introduced a  new biometric payment device , Amazon One, in two of its Go stores in Seattle. Shoppers can now enter and pay at cashier-free  Amazon Go  stores by scanning their palms. The company opened its first Amazon Go store in Seattle to the public in  January 2018 . Currently, Amazon operates  21 Go stores  in Chicago, New York, San Francisco, and Seattle, with five temporarily closed. Unlike a typical grocery store, Amazon Go offers grab-and-go, ready-to-eat snacks, breakfast, and lunch options for shoppers. Shopping at Amazon Go can be as easy as walking in and out of the store. After consumers download the Amazon Go app and link the account with a form of payment, they can: Walk into the store by scanning the Amazon Go app. Grab the items wanted. Walk out of the store. Be charged through the Amazon Go app. How Amazon One works Amazon One  works similarly to the Amazon Go app. To  sign up , shoppers will need a credit card, a mobile number, and of course, their