PostRank’s new white paper Listening Beyond Keywords highlights some key ideas to consider in the realm of social media monitoring as well as the need to move past the standard keyword-based approach. PostRank thinks the future is in URL-based content monitoring and they make a pretty good case. (more) Continue Reading…
In January 2010 Social Media Group released the original Social Media Request for Proposal (SMRFP) template to help organizations select providers of social media professional services. This template was covered extensively in the media and widely adopted: in early January, 2010, searches for “social media RFP” generated fewer than two pages of results, whereas in December 2010 this search returned over 300,000 links.
Many of our peers and colleagues have encountered the template, and their feedback has been fairly consistent: while valuable, the Social Media RFP template is too long, has too many questions, and many clients and purchasing departments are simply cutting and pasting the content with little or no thought about their actual needs. In other words, the Social Media RFP has in some ways become more of a hindrance than a help (SMG has also experienced this firsthand).
So, it’s time for a revision (available for free download here). We’ve also added an RFP “Bill of Rights” which is intended to encourage fairness, acknowledge the investment on the part of respondents and foster the mutual respect that should be observed in all business relationships. We’d love to hear what you think about v2.0!
RFP Bill of Rights
I will not issue an RFP “Cattle Call”. Issuing an RFP to more than six or seven agencies is overkill. Instead, identify agencies you would like to work with and be selective in whom you invite to respond. Fifteen or 20 responses are too many to be able to truly judge relative merit, and it’s wrong to ask agencies who are not a good fit to waste valuable resources on an RFP they are unlikely to win.
I will be thoughtful. This and other RFP templates are intended to provide guidance, but don’t simply cut and paste the contents. Think about what you actually need and edit accordingly. Information overload will only winnow out quality agencies that are too busy to wade through all the unnecessary details.
I will do my own homework. Asking agencies to identify their own competition is only going to get you two things: a list of second-tier competitors that is of dubious value and respondents annoyed that you essentially asked them to undermine their own competitive advantage. A thorough briefing on your needs at some point during the process is also essential for success (ever heard the phrase “garbage in, garbage out”?). Spend the time.
I will be flexible. Yes, we know you have a timeline. We also know (even though you might not) that it is going to slip. Don’t ask vendors to meet your timelines or else. There are significant cost savings in being able to book flights in advance (and you want an agency that keeps an eye on the pennies, right?). Give respondents at least a week’s notice and be flexible in your dates.
I will keep you updated. Nothing is worse than the “black hole”. A response is prepared at great effort, submitted and… crickets. Let respondents know that their RFP has been received, and what the next steps are. When the dates slip, let them know that, too. They put a lot into their submission – show them the respect that this effort deserves.
I will give you feedback. You can’t win ‘em all – any agency team who responds to RFPs knows this well. What they don’t know (magic crystal balls being in short supply) is why they didn’t make it to the next round or win the brass ring. Acknowledging vendors’ efforts and letting them know why their response didn’t meet your needs helps them improve, and is more than a fair trade for the cost and effort invested on their part. It also ensures good feelings – you never know what your needs might be next; maintaining good vendor relationships is good business.
Remember how we told you it was time to stop building microsites, think like a broadcaster and build channel? Well, big brands have been doing that very successfully. In fact, according to this article in AdAge, in many cases branded sites are being completely eclipsed by “owned” social media:
“Coca-Cola, with its 10.7 million Facebook fans, has three to four times… [the number of] Foursquare registered users. (There are at least 11 brands whose Facebook fan pages have quietly grown bigger than the biggest geo-location providers.) That certainly trumps U.S. unique visitors to Coke’s brand website, which fell by more than 40% to 242,000 in July compared to a year ago, per Compete.”
Of course the only problem is those eyeballs are not portable. They effectively belong to Facebook, no matter that Coke and others have spent millions in media dollars on the platform to drive membership (as they do to drive traffic to their branded sites) and the fact that those people have opted into membership on their brand page.
This of course leads to a very interesting concentration both in terms of audience (Facebook owns it) and media dollars (Facebook gets an increasing share since they deliver it to the right people – and measure the results). Pretty much a win-win for Facebook… but something that brands, accustomed to simply signing cheques, rather than helping shape the advertising platforms they’re using, need to start thinking about very seriously.
The article goes on to point out that Facebook is essentially morphing into a CRM solution – a “big list broker like Experian” – except that they are free. Of course the irony is that brands are subsidizing this new facet of the site, and if Facebook decides to change their revenue model, they could also end up paying for what they helped build.
We’ve been talking about how effective marketing is increasingly shifting from “interrupt and repeat” to a value exchange, i.e. the marketer gives you something you want in return for your attention. It’s a fairly simple (though still somewhat revolutionary) concept, and we have seen some incredible results using this approach in our emerging area of expertise, scaling social media.
This week I came across this article, written by friend and colleague Aaron Fulkerson, CEO of Mindtouch (one of the leading open source collaborative platforms), and published on Forbes.com. In it, Aaron talks about how Mindtouch and their customers are using MT technology to expose their documentation on the web, and how this, in turn, is driving sales,
“Documentation, once siloed in the realm of how-to guides, is actually feeding top-of-the-funnel activity. In fact, some companies… are reporting that their documentation is bringing in over 50% of their qualified leads. I can report that [Mindtouch] receives 70% plus of our site traffic from organic sources, and our documentation generates more than half of our overall site traffic. Furthermore, over half of our lead generation is driven by our documentation.”
This is essentially marketing with user manuals, which sounds absurd. Except that the audience in this case wants it, and it is helping to generate sales. So the questions I leave you with are: since you are now a publisher, what other materials might you have inside your org that online audiences are eager to consume? How can you work to expose and make them sharable on the social web in order to impact your bottom line?
[Photo courtesy of Peter Merholz]
Catching up on some reading this weekend, I consumed this article from AdWeek with interest. It was essentially a litany of agency bitching that location-based service Foursquare didn’t have the tools, manpower or know-how to cater to their needs.
“They’re not responsive and extremely hard to work with,” said a digital agency exec who asked not to be named. “It’s hard to bring campaigns to life. Nobody knows how to create a badge or ask [Foursquare how] to enable behavior. It’s black magic.” In general, he said, “it’s pretty much unworkable.”
Guess what, folks? Foursquare is a startup, not CNN, and they are figuring out their ad model in this emerging space in realtime. That’s called “innovation”, and in a nutshell? It’s not them – it’s YOU.
Agencies are accustomed to working a certain way (especially when it comes to media buying), and when you deviate from that, it does not compute. Emerging platforms like Twitter and Foursquare are opening their doors to advertisers, but one of the biggest issues is that many client agencies simply are not flexible enough nor do they have the expertise to do it right. They revert to their comfort zone, which results in below-average performance and all kinds of friction around actually getting the work underway. Just ask Digg and Twitter; we’ve seen it there firsthand.
So what’s the answer? It’s all in the right approach and attitude. Imagine this – as a participant in closed betas and other first-of-their-kind opportunities in the paid social space, advertisers often have the chance to co-create by providing meaningful feedback. The rewards of participating well can be significant (we’ve seen results of between ten and 40x that of “traditional” display advertising with our clients, never mind the value of the business intelligence gathered). In other words, you don’t just write cheques, you get to help influence direction in order to generate maximum value. I’m not sure where else an advertiser would have the chance to partner, learn and get a significant competitive advantage in quite the same way.
However, the catch is that if your agency isn’t adaptable or able to help you keep pace with innovation (and likes to prove it by bitching in print) you might have a problem.
[photo courtesy of Kathleen Leavitt]