The Social Network: Riding Above the Recession
Before I left for the recent Retail Vision conference in Boca Raton, Fla., I was told that to make the most of trade shows, you must set some very specific plans and goals. My main goal was to observe practices that tier vendors and retailers are enacting to connect with young consumers. Here are some of my takeaways from the show based on feedback and observations I received from both vendors and retailers.
First off, I was thrilled to see that key players in the CE industry are trying hard to gain a competitive advantage by integrating new operational strategies—including social networking and cause marketing—into all aspects of their businesses. I can’t stress enough how important it is to be where your consumers are. Regardless of their age, the majority of those consumers are delving into the world of social networking based on their fascination with technology. There is still a sense out there that many manufacturers and retailers are absolutely terrified of getting involved in this phenomenon. I can’t tell you how to run your business, but I will say that you need to make a presence on the online social scene.
For those who have no knowledge or intention of getting involved in Facebook or Twitter, you might want to check out what we’re doing at Schvee.com. This social utility is focused solely on consumer electronics, and allows vendors and retailers to get insight on important consumer research such as blogs, videos, pictures, consumer reviews, etc.