[...] Social Media and the Recession Web Strategy by Jeremiah These uncertain financial times are leaving many bloggers questioning how big a role social media will play in business. Will the financial crisis cause an uptick in use of social media for marketers? What will happen? Jeremiah Owyang has some crucial questions. “Is social media usage going to increase or decrease during a recession by consumers? In the last tech bust, I remember many tech professsionals going back to school, becoming real estate agents, or fleeing silicon valley, will migratory usage patterns evolve in social media? Yet even if usage of these tools increases, yet do these consumers have buying power?” Online Complaints Department Six Pixels of Separation Mitch Joel highlights an interesting study that shows when customers have a negative experience with customer service online, only seven percent are sharing that experience on a blog or other social media platform. He points out that the number does seem low, but reminds us that the Internet is forever. “All in all, it’s still a little surprising how low these numbers seem. One of the bigger chants for Social Media revolves around a brands ability to listen to the conversation (and, how everybody is in on the conversation). While it’s never good if 7% of your consumer base is complaining on Blogs and in online social networks, it’s still not a huge percentage. Granted, the long tail of content is not great for a brand either. If someone complains in person, that complaint might get forwarded around via word of mouth, but has little impact when compared to a serious high ranking in the search results of your favourite search engines (as is the case when someone Blogs about it).” Journos Unhappy with McCain? The Flack The McCain campaign has come under a bit of criticism lately by shielding its vice presidential candidate from press conferences, and Peter Himler reports that some journalists are calling for boycotts. “In dealing with the media filter, the last thing a PR person needs to transmit is a sense that he or she can somehow control the editorial tenor or content of a journalist’s story. The most we can hope for is fairness and balance by a strong, self-assured media. Also, journalists are known to bristle at the thought of being manipulated (or directed) in any way.” [...]

[...] Media and the Recession – There were posts from Todd Defren and Jeremiah Owyang this week regarding social media’s place in business now that the country is entering a [...]

I purport that for Web 2.0, or any other names you would give for the social tools, to have staying power, IT HAS TO PROVIDE UTILITY rather than fun.

So I think (1), (2) and (3) will trend positive may be just to a lesser degree.

I believe there will be more concerted effort to invest in these tools to be more productive or competitive.

We are already seeing successes in our users and clients on our Platform, many Gen-Yers growing beyond the Facebook and mySpace, finally learning to leverage the social tools to be more productive for collaboration and communication internally and externally in new ways they, or we for that matter, never thought of before.

We believe such experiments will grow in difficult times especially with STILL affordable tools even with smaller/limited budgets.

On (4), that's a natural life cycle weeding out the weak. Many will adapt successfully for sure.

C.H. Low, CEO, Orbius

[...] Four Social Media Questions You Must Answer During an Economic Downturn – Web Strategy by Jeremiah – Oct 08 [...]

[...] 4 Social Media Questions You Must Answer During an Economic Downturn [...]

2) I believe the bigger question is what will happen to media dollars as traditional media fail to deliver on expected results. I believe if companies focus on bringing value to their inner circle of customers, this will become a better mechanism for growth, especially in social spaces. As far as measurement goes, why not just ask consumers what they think rather than rely on campaign conversions and sales leads targets?

3) I hope so, especially as airline industry falters- as it looks like they are next in line for a bailout. New tools for collaboration will only become an increased priority and of course, technology will facilitate that.

4) If you build it and they come, great. If not, it’s time to start over.

[...] Make sure you are listening. Marketing in a good economy is no better or easier than a bad economy, so you need to listen, to read and to pay attention to industry experts. There are tools that can [...]

[...] Are you prepared to answer these four questions of social media in a recession? [...]

[...] Owyang had some great tips on the questions we need to be asking at this time of doom and gloom. [...]

[...] verdict for social media during economic hardship…? One of my favourite social media analysts Jeremiah Owyang raised the issue via his blog last week. But rather than give an overt opinion, Jeremiah simply [...]

The strongest theme running through this thread is that laid-off/downsized workers will have more time to utilize their social networks, and I agree. Watch for LinkedIn’s Q&A feature to explode with partnership and going solo announcements. The old saying is that the time to act is when there is blood in the streets.

I think that we are almost there.

[...] Four Social Media Questions You Must Answer During an Economic Downturn [...]

[...] surprise anyone to see posts titled "The Role of Ethical Brands in a Down Economy," "The Four Social Media Questions You Must Answer During an Economic Downturn," "In A Down Economy, Tomorrow’s Leaders Are Born Today," "Will Social [...]

1. Of course it will increase. That’s regardless of a recession, though. Too many people are still late in the game. When my 58yo mother asks me about how to upload photos to her FB profile, our online community has collective issues.

2. They’ll continue to spend thinking it’s the “hot new trend”. Trend equalling return. Wrong! It’s a social media people. SOCIAL. That means nobody wants to bombarded with your f’n campaign. It’s like being at a bar and having someone walk up to you and ask have you heard about the new lease program on Maxima’s offered over at X-Company Dealership. Nobody gives a shit. And that’s why your returns suck.

3. Without a doubt. Keep things internally. No reason to slap an ad on it before it goes out. Though, face-to-face has worked for centuries, and has measurable return. Like trying to sell a house to you online, or while we’re both AT the house.

4. Not at all.

Next time your enjoying your favorite social media, I encourage you to take notice of the ad space. What has enticed you to “click here”? Or do you just continue to surf unaware that ads even exist? Seems to me we’ve all become too comfortable with the plethora of online marketing practices that we rarely even notice what is happening around us. Like watching TV and only getting up during commercials. Innovation will be key. User-generated content will still prevail. Next time you formulate your strategy, ask how your users would use your product/service. Give them that product/service, and let them use it. No need for all the “offers”. WOM is the most cost-effective social media.

[...] Costilla recently pointed me to Jeremiah Owyang’s blog from yesterday about Social Media and the Economic downturn.  Jeremiah’s work always inspires [...]

No increase in brands and marketers spending on media over the next 2-4 months.

Companies are looking to the internet to reduce cost but are still selective in where to place their wallet. The internet can be used to cutting the timeline –communication to Distributors to Reps to increase involvement.

Yes, all industries will be affected by the downturn, which will fuel the negative spin.

The only person who will profit from this will be companies that take chances like Buffett.