It is huge news that ExactTarget is acquiring CoTweet. Huge news because of the ramifications this business “deal” will have on the world of social media and corporate communications. ExactTarget is already a leader in the world of email marketing and soon will be the pioneer of cross platform collaboration in the social media environment. So why is this important? Why am I so excited with this transition? Here are 5 ways why this is important and will change the world of social media.
1. One Enterprise System is Needed for Collaboration.
The technology world has been scrapping to produce one system that will manage all accounts across the worlds of Facebook, Twitter, LinkedIn, and Plaxo…. etc. ExactTarget and CoTweet now have the means to create an integrated system that will help in building out that platform. Don’t get me wrong, this is not a system that can be used by the individual but is closely tied to the return-on-investment (that is extremely needed) in the world of business development.
2. Measurement will Be An Investment and Priority
It is extremely hard to find a system that will measure ROI when it comes to using social media. I know that we can search, scrap, and put together a unique system that will measure influence and coupon discount codes but we are still lacking. Radian6 does a great job at measuring influence and helps in tracking a brand name across the different social sites… but it is hard to find a unique system to measure one-to-one online marketing. In order to monetize and work CoTweet into the enterprise system of ExactTarget measurement will have to be a priority. ExactTarget prides itself on ROI and measurement of email campaign and the same thing will apply to CoTweet.
3. Email and Social Need to be Combined
The next logical step for social media tools and marketing online is for email and social to be combined in one fluid marketing message. It is hard to find a system (Flowtown has started) that has combined all forms of Internet marketing in one cohesive message. If you send out an email you must copy and paste the same messaging to a blog… to Twitter.. to Facebook… and so on. This is speaking strictly from a corporate perspective. If you are a sole entrepreneur or a rock star like Chris Brogan it may be easy to build out a system that combines all forms of your online marketing…. for the corporate world it is extremely difficult.
4. Corporate Checks and Balances for Social Media
It is not a mystery that the majority of Fortune 1000 companies that are not involved social media because of the fear of…. content… plain and simple. Social Media is untamed and there is a huge need for one system to support PR, Marketing, and HR in their pursuit of using social media for content sharing. ExactTarget and CoTweet will create a system that allows for managers to double check all content being shared by individuals within the company. With almost two-thirds of Fortune 100 companies using Twitter and other social media platforms… now is the time to develop a unique product for content distribution.
5. Perfecting Customer Engagement and Communication
There is a power within social media that is just underneath the surface… ready to break through. We are talking about the power of the multiple customer touch point. If you can drive a users engagement through email marketing you could (and should) drive engagement on the other social media platforms that user is involved. With the integration of CoTweet and the investment into development from ExactTarget we are going to see a complete solution towards driving customer engagement online. I know that ExactTarget was not interested in just bolting on some functionality into their system… they were interested in meshing with a solution that has a proven track record.
This is huge news for social media, the city of Indianapolis, CoTweet, and ExactTarget. I am extremely excited to be on the front lines. Here’s to the future of social and online marketing!
(Also a good post about this news from my friend Jay Baer)