July 16, 2007
Web 2.0 means twice as many ways to lodge your virtual foot into your corporate mouthpiece
This afternoon, I'm off to San Diego to participate in Baptie & Company's Marketing Focus Conference, where I'm going to present on a panel called "How Web 2.0 Will Affect Your Brand Messaging and Communications."
In addition, I'll be facilitating workshops on Blogs, RSS, Podcasts & Wikis (oh my) and Engaging with External Blogs, Communities & Chatrooms. If the analogy holds, I bet the workshops will be even more interesting because - as with web 2.0 - there will be more viewpoints aired.
So I've been soaking in Web 2.0 more than usual lately to prepare. And right into my lap falls this story: Whole Foods CEO John Mackey is revealed as the author of hundreds of anonymous posts on Yahoo chat boards boosting Whole Foods and trashing rivals. If that's not enough, it turns out that one of the rivals Mackey dissed is now the target of a Whole Foods acquisition attempt. And if that were not sufficient, Mackey even posted comments on his own personal attractiveness. Wow.
The regulators will decide if Mackey's actions were illegal, and it looks like that might hinge a lot on whether it can be shown that the comments actually moved the share prices of Whole Foods and Wild Oats, the acquisition target. An interesting test case for the impact of virtual communities on the so-called real world.
Illegal or not, this use of anonymity (apparently now called "sock puppetry") seems to me unethical and almost as bad, poor executive time management. If you're going to have a corporate initiative to spike your share price with dirty tricks, you should hire a professional to it, sort of a G. Gordon Liddy 2.0. Seriously, the board and shareholders of Whole Foods should have a hard think about the current strategy of sticking by their CEO's actions.
I'm looking forward to some lively discussion with my fellow marketeers at the Baptie conference. The multiplication and leveling effects of Web 2.0 might be overhyped, but they are changing the game. How do you like them apples?
Posted by David Karp
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