Social Media is all about sharing and engagement, it’s about providing quality information and building relationships. It is not a platform for traditional advertising or PR and people that treat it as such tend to lose much more than they gain.
How many times do major corporations need to be told??
Look at what some (not ALL) of the Empire Avenue BMW stock investors are saying:
Marcio Disney #TEAMZEN #Collective: A lot of people are losing eaves because BMW just don’t want to engage in the game!
#XBAR Bryce Watanasoponwong: You need to make your investor proud by becoming more active on EAv.
If people were leaving me shoutouts like this on MARKETINGM8, I’d be worried about my company’s Social Media credibility! (Just checked before publishing, comments getting worse, price down further.)
If I look at my activity on MARKETINGM8 I’m amazed at how much I actually do using Social Media in a week, but let’s look at BMW and see how much they engage using various Social Media platforms and Empire Avenue and let’s not forget that Empire Avenue is a ‘game’ that’s all about Social Media engagement . We all knew what it was before we joined, didn’t we?
Maybe that’s BMW’s problem, they don’t understand the basics when it comes to Empire Avenue or Social Media, maybe their marketing people just joined Empire Avenue without giving it any real thought? The fact that they only have 1 stock in their portfolio is worrying and the guy’s stock bio says he’s the ‘Social Business Evangelist of BMW Group.’ Why hasn’t he told them they need to get connected and start interacting with people? Isn’t that what any faithful Social Business Evangelist would do?
Maybe BMW thought Empire Avenue was just somewhere to get free advertising?
Apparently BMW is the world’s most valuable brand of automobile and even though the German automaker saw its brand worth decline a little last year due to a difficult economic environment, its current total value is still around $21.8 billion.
You don’t have to be a Social Media guru to work this one out, but I’m pretty sure if Construction Marketing UK Ltd. was worth $21.8 billion, I’d have someone from marketing keeping an eye on my Empire Avenue account. Does BMW use expensive marketing specialists or have an extensive in-house team?
The mind positively boggles at how much they must be spending on traditional advertising trying to gain ground and market share and yet they are losing face and significant potential business because they’re ignoring Social Media marketing. Maybe they think Social Media’s a fad?
The biggest issue for BMW on Empire Avenue is its distinct lack of connectivity and engagement.
The crazy thing is that BMW has 4 ‘potential’ Twitter accounts that it could be using (I might be wrong?) but it hasn’t bothered to connect any of them to Empire Avenue. Even more bizarrely, proving further more that BMW either doesn’t really get Social Media, Twitter or both, the 4 BMW Twitter accounts have a combined following of 42,977, yet they only follow back 422 people and they’ve only sent 4,628 Tweets via all 4 accounts. That’s not a good sign either, is it? They can’t exactly be accused of over doing it, can they?
http://twitter.com/#!/BMWGroupView 6,965 followers
http://twitter.com/#!/BMWi 16,624 followers
It gets worse!
The BMW YouTube channel is absolutely fantastic, it has 415 quality videos and one in particular that I looked at, has had nearly 7,000,000 views and that’s an excellent result by any standards! So why isn’t it connected to Empire Avenue?
Does BMW think the Empire Avenue devotees are broke? No way! Lots of investors that are buying BMW shares on Empire Avenue are BMW owners already, why wouldn’t any corporation just jump at the chance to develop those relationships further and cement that consumer loyalty for the long term? Keep those consumers loyal to BMW and be grateful for the opportunity to inform them regularly about the latest BMW products and innovations! Why not? (A lot of people would call these loyal BMW stock holders great potential leads!)
I immediately connected my company’s YouTube account to Empire Avenue despite the fact that Construction Marketing UK Ltd. has only made 8 videos and only had about 1,730 views in total. We’re very proud of what we do and we’re happy that as many people as possible can see and enjoy what we’ve achieved and what we can offer with regard to video marketing! We don’t want to hide our brand, we’re proud of it!
OK, so BMW need to connect with Twitter, YouTube, Flickr and LinkedIn, (I’d recommend a blog, Tumblr and Posterous too, but that’s just me!) but where else has the automobile behemoth gone wrong??
BMW had 2 Empire Avenue actions last week and 3 Facebook posts.
Construction Marketing UK Ltd. as MARKETINGM8 had 456 Empire Avenue actions last week and 87 Facebook posts.
BMW are a multi billion dollar corporation, but unlike my company they need to understand what Social Media and Empire Avenue are really all about! I would be much happier writing about how wonderful it was that BMW were making a huge success of Empire Avenue and that they were using it to it’s full potential. This would signify that HUGE corporations were finally understanding Social Media.
Ford had similar problems but is connected with Twitter, YouTube and Facebook and its share price has bounced back significantly, however, the weekly Empire Avenue actions are still very minimal.
What does this all prove??
Big corporations STILL don’t really get Social Media and what it’s all about, but they’re quite happily spending millions and millions of dollars on traditional advertising!
I’ve been on Empire Avenue about a month and my MARKETINGM8 stock is one of the best performers of UK companies, my dividends are unbeatable, way better than BMW’s and your company’s could be too. You have to use Social Media properly and despite their wealth and success, BMW have failed because of a major random act of Social Media marketing. I don’t want to sound arrogant, but they should have spoken to me first!
If you are a major corporation (or even just a SME) and you’re smart enough to see that Empire Avenue is a great way to connect with your customer base and potential new customers but you’re not sure if you can cope with the attention required to be successful, look at MARKETINGM8, see how well we’re doing and then call us and we’ll manage your account for you!
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