Friday, November 26, 2010

How the art sector can design Momentum Effect

Many organisations run in to trouble when it is time to analyze the ROI of social media marketing.When I started reading about how to measure the return of social media marketing,  I immediately ran into the expression "momentum effect". Momentum in combination with social media was highlighted in April 2007 when Market Evolution revealed that the momentum effect had counted for more than 70% of the ROI for a certain number of examined companies using social media marketing. 

Jean-Claude Larréché, professor at Stanford University has written the book “The Momentum Effect – how to ignite exceptional growth”. His definition of momentum is: “The momentum is a tremendously potent phenomenon by which under specific conditions, exceptional organic growth is created - growth that feeds on itself... momentum growth requires a delicate combination of a number of specific elements, working cooperatively and simultaneously. This combination can occur by chance or by design.”  
In the art sector we are very well familiar with theatre productions or art exhibitions that attract big audience groups when we least expect it: An artistic production that just gets the pieces right and the word of mouth effect takes off. I suppose that this word of mouth spin off is a fair part of the momentum effect by chance. 

It is difficult for the art sector to secure "word of mouth" about artistic products because of their unpredictable nature. It is therefore difficult for us to design momentum effect. The "product" is partly born in the meeting with its audience, when it is already sold. But if the companies in the 2007 survey answered that momentum effect counted for more than 70% of ROI, then we definitely need tools to design momentum in the art sector.

To be able to benefit from social media marketing and design momentum effect, we have learned to spread the positive words further, create buzz but maybe more importantly, we need to know how to handle negative reactions.

In the art sector we are lucky because most people want their personal image to be connected to artistic products. They are therefore more than willing to tell others when they have seen something good and interesting. We easily obtain momentum effect "by chance". But artistic products can also evoke very strong negative feelings, that are also subject to wide exposure if people feel provoked, exposed or deceived.


Use social media to create an open dialogue in that can carry different perspectives
By keeping an ongoing dialogue with the audience, we can take negative comments and disappointment to a different level. We can raise discussions about art and the role of art by that make people feel seen.However, we can't just appear as Jack-in-the-box and comment on a discussion when we need it to save our skin. We need to have a relation to the audience, where all perspective can be exposed.


Get out of the fan page environment
Our "fans" or friends are kind to us, and often want to understand us. To expose ourselves to negative critics, and to get that relation to our audience (not just the existing one, but an occasional or potential one) we need to get out of our existing network. If we just have positive reactions, then we're probable just talking with "close friends". To really reach out we have to act and talk outside the closed interest group of our Facebook fan page.

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