Saturday, September 8, 2012

Forming a Model around a Marketing Idea

Merriam-Webster defines a 'paradigm' as a standard or typical example.  In a way, a paradigm is a mental model that one uses in order to understand and convey an idea.  When you experience something new, you look at the paradigms that you have formed in the past to see how it fits.

However, many times you do not have a paradigm or have a paradigm that is very nebulous in your mind.  You do not have a way to convey this idea to others nor remember it.  This is why this week's class in MKT 595 at DePaul University was interesting.  Social Media as it relates to a company's reaction to it is one of those things that you think you just know.  We have all seen many examples where a company's fumbled attempts at social media and the sometimes devastating consequences of it.  Recently Progressive had social media hiccup after Mr. Matt Fisher's Tumbler page complaining about the insurer went viral. (http://blogs.wsj.com/deals/2012/08/21/progressives-fail-in-social-media-may-be-warning-to-insurers/)

But I never thought much about an acronym that could help company's maintain their social media presence and avoid problems.  In class this week, we learned about the 8 Central Concepts of marketing with respect to social media and a very nice mental model to remember them (FUN REACT).  These stand for facilitation, uniqueness, not selling, ROI, empathy, audit, crisis response, and timing/context.  The idea is to bring customers in to an environment to share a conversation that is unique but do not try and overtly sell the product.  Be sure there is a financial return, care about your customers and monitor the social media closely.  If something does go wrong, react appropriately and send the right message to the right person at the right time.  I agree with each one of these ideas and now I have a mental model to remember it!  FUN REACT --- Are you paying attention Progressive?

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