Comments on: The Web 2.0 Make/Buy Decision

By: Doug True

Doug True — Thu, 25 Sep 2008 12:25:25 +0000

Jeffry… Enjoyed your post. The Colts Fan Forum brought to you by FORUM Credit Union has given us a lot of recognition in the community. I have had numerous people come up to me when wearing my FORUM gear and mention, hey you sponsor the Colts fan forum. The Colts have a classy reputation here in the city for being good community stewards. It is a complimentary partnership.

By: Jeffry Pilcher

Jeffry Pilcher — Wed, 24 Sep 2008 21:50:13 +0000

So true Taylor. Financial institutions love people (at least they say they do) 100x more than people love them back. It’s probably more accurate to describe financial relationships as one of co-dependency. Dysfunctional?

Thanks for the great comment.

By: Taylor Davidson

Taylor Davidson — Wed, 24 Sep 2008 21:09:24 +0000

The reality check is so needed. I doubt whether most people think about a “relationship” with their financial services companies they do business with in the same way that financial service marketers think of their “relationship” with their customers.

Great call-out on tools v. strategy: popular usage of the term social media misses a lot of what social media really means. So few companies understand the difference in the social media space.

Across industries and efforts, followers focus on tools and tactics while leaders focus on strategies and goals.

I will say that the investment in creating a “Web 2.0 presence” does not have to be terribly large; it’s just important to level-set expectations of what that presence will deliver, same as any other effort.

“Someone needs to own it”: not only because it requires a significant time commitment, but that for companies to truly use social media effectively there needs to be an authentic “soul” front and center (and it’s not just the “face” of a PR rep).

By: Tim McAlpine

Tim McAlpine — Wed, 24 Sep 2008 15:25:09 +0000

Another excellent piece. The “build it and they will come” strategy works only if you have the budget and resources to promote the heck out of it. It also requires a long-term commitment to realize results. Tying into an established destination makes a lot of sense and can potentially be more experimental.