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WOM Wednesday Teleconference Recap -- Evaluating Social Media Initiatives with Web 2.0 Technology

On Wednesday, April 11, WOMMA hosted a teleconference in which speaker Joe Lichtenberg of Eluma explained the marketing power and potential of Web 2.0 tools. In an hour-long call during which he presented slides via webcast, Lichtenberg discussed Eluma's "Customer Engagement Model," which organizes Web 2.0 tools -- including social networks, social bookmarking tools, blogs, forums, communities, and desktop applications -- according to the size of the audience they reach and the level of customer loyalty they engender. The model -- which is shaped like a pyramid -- is intended to help marketers navigate and understand the maze of emerging Web 2.0 technology, which according to Lichtenberg can help you do one of three things:

  1. Acquire new customers
  2. Build and maintain relationships with existing customers
  3. Reward and more fully engage your most loyal advocates

Using social media effectively requires brand marketers to consider implementing technology to help them do all three. In his presentation, Lichtenberg offered strategies and solutions for doing just that.

Featured Speaker:

  • Joe Lichtenberg, VP, Marketing & Business Development, Eluma

Key Points:

  • Companies can no longer compete strictly through price wars, as the web has enabled price transparency; instead, companies need to focus on building customer loyalty via engagement.
  • Evaluate new media with traditional questions; always ask, "Why am I doing this?"
  • Consumer engagement is the future and there's no going back.
  • Customer loyalty reduces costs and improves profit margins.
  • Blogs, social networks, and online communities are key to building brand fans; however, the king of Web 2.0 tools is the branded desktop application, which enables companies to put their brand front-and-center for consumers, with or without website traffic.
  • Web 2.0 is only part of the answer to the questions that modern marketers are asking; traditional media remain important and viable.
  • Web 2.0 is here today -- use it!

Download the presentation here.

Did you miss this valuable teleconference?
Members can download the audio for free now in the WOMMA Member Center!