Yesterday I interviewed Michael Lazerow on stage at LeWeb. He started Buddy Media and now is CMO at Salesforce. He has an interesting set of insights about the social industry and where things are going.
Salesforce's Jeffrey L. Cohen wrote up his points here: http://www.radian6.com/blog/2012/12/robert-scoble-interviews-michael-lazerow-at-leweb/
I'm copying that post below.
Today at LeWeb in Paris, leading tech blogger Robert Scoble interviewed Michael Lazerow, CMO of the Marketing Cloud on the main stage. The following are highlights from the conversation, the video of which is attached here.
Companies are undergoing massive change due to social media, but they are asking the wrong questions. We need to stop asking what is the value of a fan. Now, it’s what value they can provide to their customers. If you can do that, customers will give you access to their data, to their friends, and even to the friends of their friends.
One example of how that pays off is with Burberry. If you walk into their store, they’ll ask if your wife liked the trenchcoat you bought her. They can identify you and see what you bought on their handheld device.
Your favorite brands’ apps are on your phone. Brands need to take advantage of this. I fly Delta a lot and have their app on my phone. Why can’t they give you a boarding pass 100 feet from the airport? They know you are hungry. Why can’t they tell you where to eat?
We look at the shift from pages to people. AOL was all about pages. Yahoo organized pages by hand. Google built their search engine based on pages. Ominiture tracked pages. Now we have streams. This has changed how people interact and it changed how companies need to act. And it’s not just about connecting to customers, but also connecting to employees, to vendors and even to products. For example, how does Toyota connect to you and your graph? Ultimately your car becomes another connected device.
The smartest companies are tracking the social data of their customers and mapping it to their records. What kind of insights can you get from this? If you are thinking about creating customers for life, do you know, for example, if your best customers are Tweeting from your competitor’s location? This is not about big data, but it is about small data.
Salesforce Marketing Cloud tracks 400 million social data sources. How can you bring the data in and add insights so you can take action? Who is ecstatic about your company? Those are marketing opportunities. And who is pissed off about your company. Those are service issues. Too many companies listen to their customers and ask “what do I do next?”
Some of our biggest clients are switching to a “bring your own device” environment. What happens when the device is your shirt or your shoes or your glasses? How do you deal with that shift?
We spend so much time talking about the science of technology that we forget the art. We love brands because of how they make us feel. It is similar to how we feel about the favorite people in our lives. Those feelings are created by familiarity of small touch points. That’s what’s happening with brands and technology. Restaurants are a great example of types of business that have some data on us. They have transaction data. They know what you ate and they don’t do anything with it. How they use that data is where the art comes in.
Not only can we use data to operate better, but we can use it to predict what is going to happen. Companies ask if they should post something on Facebook. We want to tell them that if we share this item right now it will help them reach their full social media potential.
The best part of word of mouth marketing is when you tell a story and deliver on the promise. That’s what makes marketing fun.