During an integrated marketing strategy presentation for a client, we knew walking in that we needed to deliver a strong business case surrounding the social media recommendation in our plan. Our client, like many business leaders in sustainable industries, is challenged by the unpredictable nature and lack of quantifiable metrics associated with this vast, people-powered platform.
In fact, social media is one of the most widely used and misunderstood channels to business success. But here’s the catch: social media and sustainable industries are developing in parallel to each other, with little cross over. At the most critical time of our social, economic and environmental development, our most innovative, new market approaches still eliminate the power of collaboration and social networks from the equation.
Why is that? Technology has evolved the age-old word-of-mouth commentary to a global art form designed to harness the power of networks and engage people in less controlled, but meaningful ways. Sounds like the perfect fit for the likes of businesses committed to reduced paper use, unnecessary travel, leveraging local resources and building a sustainable supply chain. In other words, how can that network of people blogging and discussing energy use in Finland help you with market penetration in Oregon? Believe me, its not far-fetched and it doesn’t require a carbon-spewing transatlantic trip.
Let’s start where the barriers begin: Unpredictability. Sustainable Industry is all about building the business case for new products and services that depart from the traditional business framework. To ignite a green building industry, or an organic food movement or renewable energy sector, or policy innovation, a tolerance for unpredictable outcomes and unknowns is an accepted part of the maturation process.
The same is true of social media. Here’s a medium that mirrors the whims, nuances and unforeseen nature of live, real time human interaction - unpredictability on steroids, if you will. Virtual communities, blogs, live feeds, and social networks offer the perfect platform for the sustainable business leader. These are the collaborators at heart, the people committed to profit and fiscal transparency. These are the people delivering the green building products, the organic food and the renewable energy solution to further our very existence on this planet. Delivering on a social media strategy to escalate demand for this green economy suddenly isn’t so…unpredictable.
But like anything, this looks great on paper, but let’s demystify the inability to measure the ROI from social media…because that is usually the next argument to follow.
There is a correlative mindset that if we execute this, then that should happen. But with social media, the mere fact it mirrors the complexities and nuances of “real life” changes the ROI standards, creating unintended – and often powerful - outcomes.
Take, for instance, Blendtec: a company selling blenders, mixers and grain mills. Mind you, this company is not from sustainable industries but showcases an approach that is completely transferable. They launched a video on YouTube showcasing the strength of their product as a way to raise visibility and reduce marketing costs. In just five days, Blendtec’s $50 marketing spend found an amazing ROI with over 5 million viewers watching the iPhone blend into dust and attracting over 6 million visitors to their website. This level of exposure created millions of dollars in brand recognition. “Revenue increased five-fold over the company’s old record revenue prior to the videos,” reports George Wright, Director of Marketing for Blendtec,
What marketing exec could predict a $50 spend yielding such fruitful ROI?
Lego also launched a very successful social media campaign. In this case, the social media goal was to collect feedback from the most avid users – adults. Lego quickly turned this social media campaign into a massive move to harness their customer base to design better products and reduce their R&D. As a result, resources were freed up within the company to focus on other business and product initiatives, contributing to phenomenal business growth and product leadership.
The green economy has a lot to learn from these companies resting on a traditional business framework, but diving into the waters of social media. If these traditional companies can ignite a market base for their products – which don’t draw a direct line to any social, environmental or economic green development – than the opportunities for sustainable industries to ignite a green economy is virtually assured.
Moreover, with industries creating the green economy walking in lock step with the technologies that are allowing us to connect and collaborate, we need to rethink traditional marketing approaches. Unintended outcomes and unpredictability is shaping the business landscape, and with a well-crafted strategy, businesses can harness vast amounts of market share and seal their sustainable leadership.
