Posts Tagged ‘goldilocks rule

04
Apr
10

The Goldilocks Rule

I’m seeing a business principle take shape in social media called the “Goldilocks Rule.”

What happens is a business starts using a number of social networks (Twitter, Facebook, etc.). Maybe they use video or an app too. Pretty soon, one social networks starts working better than all the others. It’s the one that’s “just right” because it:

  • Attracts more people (fans, followers, viewers)
  • Increases sales most directly

While it’s not apparent at the outset what social network it will be, it is apparent, once it starts to happen, it’s the one that best reflects the uniqueness of the brand. Let’s look at a few examples.

1. BLENDTEC (BLENDERS):  On YouTube, the blending of an iPhone has been watched by 8,002,192 viewers. Videos of CEO Tom Dickson blending golf balls and hockey pucks have over 1,000,000 viewers each. By contrast, Blendtec has 17,145 fans on Facebook and 2,266 followers on Twitter. For a product whose benefit needs to be seen to be believed, videos and YouTube are the medium for the message.  For an investment of around $1,000, company sales increased +500%. And they still grow in direct proportion to YouTube viewership.

2. AJ BOMBERS (RESTAURANTS): Ask owner, Joe Sorge, what took his Milwaukee burger joint from $12,000/week to $17,000/week in sales and he’ll tell you Twitter, a video from Chris Brogan and great burgers. Numbers support this because the video on YouTube has 3,047 viewers and AJ Bomber’s Twitter page, which Joe uses like a virtual host, has 3,107 followers.  By contrast, AJ Bomber’s Facebook page has 1,028 fans.  Maybe that’s why Joe now has a book called #Twitterworks (http://twitterworks.tv) to go with the great food.

Both Tom and Joe’s videos are in previous blog.

3. COLGATE (CONSUMER GOODS):  We put social media into Colgate’s marketing mix by creating a social media app for their promotions and events so friends could share Colgate news with  friends. We put the app on their web site. It gives greater details on specific promotions and events and allows for sharing on over 20 social networks. We find 80% of response comes from Facebook. We also find the response rate is 4X industry norms and people spend 3X more time on the app than the web site. Since the average Facebook users has 130 friends, that’s a lot of people and involvement.

Facebook proved to be the best vehicles for conversations about Colgate brands. All of us like to talk about brands. Did you know we talk about brands on average a dozen times a day?  Now, social media makes it easier for those conversations to occur and for us to learn from them.

So that’s the “Goldilocks Rule.” We see it for brands we observe. Do you see in your industry or brand?




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