I didn’t know much about venture capitalist Mark Suster until I read Past, Present, and Future of Social Networking, a three part series he contributed to TechCrunch, which is further expanded on his blog Both Sides of the Table. What I gleaned is that he is not only experienced and accomplished, but has the wisdom to extract lessons from his mistakes. He incorporates these lessons into his behavior and is willing to impart his knowledge on to future start-up entrepreneurs.
But what caught my interest were his projections into the future of social media. The “explosion of data is creating opportunities just in the management of the data in and of itself” – social data – where “products such as Sprout Social and CoTweet [and awe.sm] are emerging to help businesses better track and communicate with their customers and leads.”
The current state of web-analytics exists in polar opposites: privatized enterprise solutions and the free-domain Google Analytics. The trend of the future, as seen in the above programs, is a management product that can tap into a highly mobile and segmented social graph – without blurring statistics. Businesses will be able to observe behavior for certain demographics and be able to respond to the social customer, who expects fast, customized [or “localized”] services.
I’m curious how the audio marketing industry will incorporate these new tools. As for Holdcom’s, we can segment our market even further, predicting whether a certain business would prefer Message on Hold vs. IVR based on factors such as customer flow, size, and industry. We could also determine whether a business would prefer Online Audio services as opposed to telephony: for example, let's say that a majority of callers to a call center are smartphone users. This call center could produce a smartphone application that, through gelocation services, can detect the callers location, and customize the message accordingly [for local retail locations].
What ways can your business incorporate geolocation and social data management tools into your marketing strategy?