I really enjoyed reading Socialnomics, by Erik Qualman. Here are some excerpts that I thought were particularly relevant:

“It’s important to free your content from being trapped in a ‘walled garden’ because people have quickly grown accumstomed to the news finding them, and there is no turning back…People expect and demand easy access to their news; any hurdle, no matter how small, can kill potential distribution, eventual effectiveness, and ultimate viability” (14).

“[Millenials] are less likely to understand boundaries whether that is answering e-mail from a friend during business hours or taking e-mail from a manager at 11 PM. To them, things are just more fluid; it’s not a 9-to-5 world, it’s a 24/7 world, and it’s up to the individual to properly balance the hours in the day. Generation Xers and Yers think it’s laughable that a company would block Facebook or YouTube during work hours—you are either getting the job done or you are not getting the job done” (55).

Where possible integrate your product/service into a conversation rather than as a direct ad. For example, get your product featured as part of the show, as opposed to being paid advertising for the show.

“Marketer’s Philosophy Today” It’s important to listen and respond to customer needs. It’s all about the product; it’s necessary to be in constant communication with all other departments. We never know what is exactly right for the customer; that is why we are constantly asking and making adjustments, because we usually don’t get it right the first time. Often our customers will market the product better than we can; if we can leverage one of their ideas, then it is beneficial to everyone” (129).

“Companies sometimes fall into the trap of trying to make everything perfect before releasing it into the model. This harkens back to old Proctor and Gamble schooling—a model that doesn’t work well in social media space because it moves too slowly; the word would pass you by before you got anything out the door. If the initial setup costs make sense, it’s better to get an idea out the door and run the risk of it failing than not doing anything at all” (176).

There was a great opportunity 15 years ago to claim domain names. 5 years ago a similar opportunity existed for social media domain names. Keep an eye out for future opportunities.

“Although it is cliché, it’s vitally important to fish where the fish are…Whether it was e-mail, browsers, portals, search, video, and now social media, many companies believe they will be the starting point rather than an integration point. The example of BellSouth thinking that their users would have a My BellSouth start page (portal) that included weather, sports scores, and stocks is just one example (for the record, people just wanted their phone bill from BellSouth integrated into their established portals, MyYahoo!, iGoogle, etc.) of companies recreating a poorer version of the wheel” (221).

Often companies are trying to replicate what other successful sites (e.g. Facebook) are doing. Instead, leverage what Facebook is already offering. Don’t try to reinvent the wheel.