I am one of those people who is fascinated by branding and marketing. Who brands are, why they are who they are, how they share and connect with their targeted audiences… why did that ad campaign work? How did that company figure to target that audience in that way? And of course, why is some marketing such a failure? In my love for branding and marketing mixed with my passion for social media, I came across Gary Vaynerchuk years ago (if you don’t know him, Gary is “…one of the most sought after public speakers alive today. He is a venture capitalist, 4-time New York Times bestselling author, and an early investor in companies such as Twitter, Tumblr, Venmo and Uber. Gary has been named to bothCrain’s and Fortune’s 40 Under 40 lists.” (GaryVaynerchuk.com, 2017)) I follow Gary on social media, and was excited to see he was part of a series Apple is releasing on iTunes, Planet of the Apps. This show “…a sort of hybrid of The Voice and Shark Tank lets app developers make their pitch to four potential celeb mentors: Gwyneth Paltrow, Jessica Alba, Gary Vaynerchuk, and Will.i.am who then help coach their mentees through developing their pitches and courting venture capitalists for investments.” (Howard, 2017) One of the most successful pitches on Planet of the Apps was Dote. Dote dons itself a mobile mall in your pocket (Dote, 2017). “The app curates products from over 130 stores, including Sephora, Forever21, and Urban Outfitters, in one place. All you need to do is enter your credit card once, and you can buy a product with a single tap, without wasting time shopping on individual store websites.” (Buxton, 2017) Dote also landed a 5 million dollar investment from VC’s from a pitch on Planet of the Apps, “one of the largest ever doled out on a TV series.” (Vogue, 2017)
If there was a brand that is strikingly representational of the success of the millennial generation, through being an entrepreneur, believing in community, authentic conversation, and utilizing social media to create an industry leading company, Glossier by Emily Weiss fits that bill. The company was cultivated in a very “millennial entrepreneur” manner, and the use of social media metrics has been a critical component in helping to develop and build a successful platform to reach and engage their community across a multitude of platforms (Milnes, 2017). How companies use social media to engage their customers, product users and community in this day and age can be make it or break it; or at any rate, have a huge impact on their relevancy in the market and their industry. It is well discussed by course material for the Social Media for Business Performance at the University of Waterloo, of the use of social media in relation to an organization’s goals: “The starting point for all metrics is the goals of the organization. The metrics that are identified for each area of the organization should stem from these goals. Your social media metrics should be carefully aligned with your organizational goals, driving social media behaviour that will contribute to these goals’ achievement.”
Recognizing social media is so much more then Twitter, Facebook or an online forum, I took my question to Professor Peter Carr of the University of Waterloo to understand what social media really is defined as; he noted: “There isn’t a generally accepted definition and opinions probably include narrow, which would be restricted to popular public tools (Instagram, Twitter, Facebook, etc.) and broader, including any form of online communications (email, Yammer, SharePoint etc.). I use the broader approach, any online communication between two or more people could be included.” Understanding Carr’s definition on social media, we can really look into how might social media fit into companies – and in what realms? Specifically for the topic of this post, how does social media fit into supply chain? From course material in my Social Media for Business Performance at the University of Waterloo, it is discussed that there are a variety applications for social media in the supply chain, but there are a few I really want to focus on that I find make an interesting case study: visibility, stakeholders and purchasing.
Title: To engage Millennial Employees . . . start by asking them how! Organization Name: ATB Financial (Alberta Treasury Branches) Industry: Financial Services CEO: Dave Mowat Web references: www.atb.com, http://www.briansolis.com/2013/09/the-truth-about-how-social-media-has-impacted-employees/, http://canadianmillennials.ca/wp-content/uploads/2012/01/R-U-Ready-for-Us-An-Introduction-to-Canadian-Millennials.pdf, http://www.pewresearch.org/fact-tank/2015/01/16/this-year-millennials-will-overtake-baby-boomers/, http://www.techopedia.com/definition/28107/reverse-mentoring, http://www.workforce.com/articles/employee-engagement-define-it-measure-it-and-put-it-to-work-in-your-organization, Forbes Millennials. The tag itself evokes a sort of techy, future-is-now kind of generational brand. Loosely speaking, Millennials are a cohort of people born between 1981 and 1997 with a unique… Read more »