Who are you and why should I buy from you?

Just found this fantastic presentation from the Business Marketing Associations' "Unlearn" conference. A fantastic illustration of how markets and technologies change but the fundamentals of the business relationship don't.



I found a link to it on one of my favourite blogs, WebInkNow. I also noted that the author of WebInkNow, David Meerman Scott, is coming to Sydney and Melbourne in September. Here's the tag for his course: "Instead of explaining what Social Media is, David specialises in showing Marketing and PR experts exactly how to use it."

Now if only I could justify another training course LOL!

Oh well, there seems to be a blog specifically for the Australian masterclasses with Australian examples, so I'll have to get stuck into reading that instead.

The Commonwealth Bank wins the Twitter PR game

It's funny that I keep posting about Twitter, as I actually think it's hopelessly over-hyped. But I couldn't resist this news.com.au story about an unhappy customer's tweet and CBA's rapid response:

"A TWO-line Twitter post pushed my mortgage application from the Commonwealth Bank's "to do" list to an urgent priority.

The post said simply: "CBA f#$&ked up our loan approval so we're still waiting to exchange contracts". One hour and 17 minutes after it went live I was contacted by someone offering help to solve my problem. That person was the head of Commonwealth Bank's customer service team.

He told me the message made him "feel like crap" and the bank was only just beginning to understand how crucial social media sites were in maintaining the corporate giant's image. By 3pm the next day, my loan was formally approved."

One person who responded couldn't understand how complaints on social media carry more weight than a complaint by phone. The reason is simple. A phone complaint is witnessed only by the customer and the corporation - and perhaps a few friends of the customer. But a complaint on twitter, or a blog, or any form of social media might be read by hundreds of people, if not more. As will their favourable review if the corporation moves to fix the problem rapidly. And THAT (to be cynical) is why the CBA moved so quickly on this incident.

When corporations respond rapidly and sincerely to bad PR on social media the effect is incredible. Suddenly bad PR is converted to "wow, look how responsive and switched on this organisation is". Of course, this effect may only last as long as social media is "cool" and "new". It may not be such an unusual thing in a year or two.

Martindale-Hubbell tries to "get Web 2.0" but they really don't.

The recent experience of Martindale-Hubbell shows the danger of a company positioning themselves as a social media player without actually embracing the Web 2.0 culture. Throughout 2008 LexisNexis worked hard to reposition Martindale-Hubbell, the dying lawyer ratings directory, as a social network for lawyers. In just 3 days in December, Martindale-Hubbell’s credibility within the Web 2.0 community was badly damaged by their ineffectual response to a leak that rapidly spread around the blogosphere.

Several other influential bloggers have posted on their problems, but I thought I might throw in some of the backstory and give a blow-by-blow description.

June 2008: Martindale Hubbell positioned as social network for lawyers.
Leader Networks and LexisNexis released a study on lawyers and social networks indicating that lawyers see M-H as a good platform for a social network

July 2008: Martindale Hubbell and LinkedIn join forces
Business-based social network LinkedIn and LexisNexis announced an agreement where LinkedIn profiles are displayed on M-H and M-H content appears on LinkedIn.

Dec 22: Blogger Heather Milligan queries the future of M-H based on an email from her M-H Consultant.
“Is Martindale-Hubbell's AV Rating System officially dead?
I received an e-mail on Friday from a peer at LexisNexis’ Martindale division notifying me that not only was she let go, so was her entire department.”

Dec 22-23: Twitter spreads the news rapidly
Major influences in the legal industry, including a range of other legal publications and directories, voice their opinions. There is no official word on Twitter from Martindale Hubbell. The only person on twitter who is connected to Lexis M-H indicates he cannot speak for the company on this matter.

Dec 23: News of M-H’s incipient demise is posted on influential blogs
Is Martindale-Hubbell's lawyer rating system officially dead? Kevin O’Keefe, Real Lawyers Have Blogs
Martindale Hubbell's AV Rating System Dead As A Dodo. Sean Hocking, House of Butter

Late Dec 23: Lexis responds
Lexis responds with a comment at the bottom of the original post, a post on its own blog, and a statement to the media. The blog post appears to be very similar to the statement and feels like “PR speak”.

Dec 23 onwards: bloggers are unimpressed with Lexis’ response
There are multiple blog posts and tweets to the effect that “Martindale Hubble doesn’t understand Web 2.0”.
Martindale-Hubbell doesn’t get it. Kevin O’Keefe, Real Lawyers Have Blogs
The Death of AV (Update: MH Responds). Scott Greenfield, Simple Justice.

It will be interesting to see how/if Martindale-Hubbell recovers from this incident, and what its future will be.