“The biggest risk you can take is to take no risk” – Mark Zuckerberg

To be classified as one of the world’s most influential people at the age of 24 is quite an achievement. Most people of that age are still trying to formulate their ultimate direction in life, let alone have achieved what the vast majority will never aspire to. Mark Zuckerberg seems hardly fazed by his status as one of the world’s top “thinkers” and has attracted his fair share of controversy as the phenomenon that he created, Facebook, inserts itself squarely into the lives of millions of people around the world.

At first glance, Zuckerberg can be very disarming. He hardly displays the demeanor of a billionaire (his estimated net worth is somewhere in the region of two big ones) and is almost dismissive about his achievements thus far. He readily admits that he has made a lot of mistakes, some rudimentary and that Facebook never really started off in any particular direction, nor materialized in any predetermined fashion during its formative days. During interviews, he can be somewhat vague about his immediate or long-term plans for his creation, but the underlying theme of his comments seems to point to the fact that he always wants to “do something people want.”

Zuckerberg was born in New York in May of 1984 and developed an understanding for computer programming during early education. During his attendance at Phillips Exeter Academy he developed a product that interpreted the user’s musical tastes due to their listening habits and this drew the attention of giants AOL and Microsoft, even as he continued his tinkering at Harvard University. He attributes his early successes with the Facebook concept as a means of gathering notes as a “study tool,” prior to a major exam. The website that he created was his first attempt at a social network and he eventually expanded it to a variety of other members within Harvard.

During 2004, Facebook was launched from a dorm room in Harvard and with help from his roommate, Justin Moskovitz, the platform eventually spread to a number of other Ivy League colleges rather quickly. The idea just “morphed” and did not follow any logical pattern, according to Zuckerberg. Again he refers to just wanting to “do something people want.”

The decision was made to move to Silicon Valley and buoyed by the success of the platform within some of the traditionally skeptical school environments, he decided it was worth pushing for the big time. Peter Thiel was Facebook’s earliest investor, who helped the startup move into its first office later in 2004, from where the phenomenon started to really grow.

Zuckerberg prides Facebook as a melting pot of entrepreneurialism and a “strong hacker culture,” allowing the company to “build things quickly for lots of people.” He believes that this kind of approach has been responsible for Facebook’s meteoric rise.

Facebook has attracted quite a lot of controversy, as might be expected due to its novelty and the very nature of its background and approach to innovation. There are many allegations of privacy invasion and suggestions that a lot of material is being released about individual members with little regard for future repercussions. Further controversy arose when two former classmates of Zuckerberg sued, alleging that he had stolen their idea. After lengthy legal meanderings, Facebook agreed to pay a $65m settlement.

Mark Zuckerberg acknowledges that there is much to challenge ahead and sees no reason why technological innovation should not help to carry Facebook well into the future. Expect Facebook to change significantly as time goes forward as in his words “in an evolving world, if you don’t change you will lose.”

Adam Toren

Social media is in the process of rewriting many marketing textbooks and is being hastily added to the curriculum of many business-oriented schools of education, complete no doubt with many footnotes, asterisks, disclaimers and question marks. A business must be involved with social media, but the question is to what extent. Further, what level of risk is acceptable when entering such virgin territory?

It would seem that there is a lot more to gain than there is to lose when you consider whether to entertain a social media campaign, so long as you exercise a modicum of common sense. A lot of the well known pitfalls experienced by some premier brands could have been avoided with a little introspection.

So what are some of the pitfalls for you to avoid?

1. Avoid controversy.

Some people advocate that to make a wave in the vast social media ocean you need to be controversial to stand out. What you need to realize is that your energy wave creation could become a tsunami of controversy. The same element that makes social media such a tempting proposition could also work against you by creating substantial negative press that you can do nothing about.

2. Avoid spreading muck.

This follows along with the previous point to a certain extent and underlines why you should put some of your best marketing brainpower behind a social media campaign. Don’t be tempted to become a shock jock or openly criticize other competitors in an attempt to gain an edge, as no matter how subtle you try and how many “smoke and mirror” campaigns you dream up, this approach will backfire and hurt you more.

3. Avoid “puffery.”

This colorful word describes the act of blowing your own trumpet or aggressively talking up your brand or product, maybe under a disguise created for the purpose. Be careful that your IP address or e-mail cannot be traced back, allowing people to “out” your efforts!

4. Avoid being vanilla.

Again this comes back to creativity. Don’t expect a great result just by setting up pages, profiles or accounts. You must have a good “hook” and have a policy and strategy to update and create meaningful content.

5. Don’t shoot first and ask questions later.

It may be easy to imagine the social media environment as a “wild west” of sorts, where pretty much anything goes as we are all in uncharted territory. Don’t make the mistake of unloading your shotgun of poorly formed thoughts, questionable tactics or competitor onslaughts without fear of a reprise. You may well not be able to put the fire out.

6. Don’t bite off the hand that feeds you.

Facebook, Twitter and other social media platforms are really valuable assets and you should treat them accordingly. Always be aware of their terms of service and never do anything to make them turn the focus of attention on you.

7. Don’t delegate and forget.

This will require your best brains, as we have already said twice. For veteran marketers the whole concept can be difficult to conceive, but don’t be tempted to delegate to junior IT people, rather make it a think tank approach.

8. Don’t forget how visible you could be.

When you enter the world of social media, you may encounter a visibility that you are not prepared for. Remember that to a certain extent it is a commenting free for all and you need to be constantly aware of what is being said about you, within your pages and “retweeted.”

What is your best tip?

Matthew Toren