We don’t know about you, but we’re still recovering from the five jam-packed days of SXSW Interactive. Between panels, speakers, and late nights partying… uhh we mean networking… it’s overwhelming to digest the mass of information and innovation present at the event.
We first helped you schedule your week, then calculate your ROI of going to SXSW, and now Sprinklr is here to help you debrief and pull out the biggest trends and lessons from the conference. We’ve reviewed our notes and chatted with some of our friends to identify the top trends and insights from SXSW Interactive this year.
While the cultural shift away from ownership isn’t new, businesses across all industries are starting to catch on. Companies are experimenting with consumer-to-consumer transactions (Gumroad), pooling or sharing (Sidecar), and renting in place of ownership (Breather).
“At SXSW this year there’s more of a lean toward a collaborative economy,” observes Wayne Kurtzman, Social Media Marketing Strategy & Analytics for Pitney Bowes.
Rather than resisting this behavior, it can be profitable for many companies to experiment with these new business models. “More companies are relying, and noticing, that a lot of consumers prefer to purchase from other consumers.” according to Kurtzman. “So by partnering strategically, they’re finding a bridge into a brand new economy that’s developing right now.”
As customers increase their expectations for excellent service and delightful experiences, companies must get creative and alter their business models in order to stay on top.
In terms of sheer buzz, Meerkat, the brand-new video streaming app, dominated the conversation at SXSW. The app allows “live video to travel at the speed of Twitter” according to Meerkat founder Ben Rubin. In short, it’s kinda like FaceTiming with the public, and the use cases are endless. From conferences, to concerts, from lectures to sports games, wherever there are experiences that individuals want to share with their followers, there’s a place for Meerkat.
Author and speaker Joel Comm is certainly a fan of the new app: “Everyone is talking about Meerkat here [at SXSW], and people are Meerkatting like crazy!”
Originally, the app was designed to automatically import users’ existing Twitter followers, meaning that you’d have a community of people ready to see your Meerkat content right out of the box. But this past Friday – just as buzz for the app was picking up – Twitter cut the cord and stopped the transfer of this Social Graph information, meaning users will now have to build their audiences from scratch.
“Even though Twitter just bought Periscope (a similar video sharing app), Meerkat is going to be relentless.” says Comm, further instilling his faith in the app. “I think Twitter’s move was kinda, well I don’t want to say but… it wasn’t good!”
Without Twitter to rely on, Meerkat’s fate is unknown, but influencers sure did have fun testing out the features at SXSW!
Case in point: A picture Comm snapped of Brian Fanzo Meerkating up a storm all throughout the event.
Every year, techies and entrepreneurs alike swarm Austin for SXSW Interactive, excited to discover this year’s new hot company, among other things. More often than not, though, the sheer volume of activities makes it difficult to stand out. Unless you are one of the few exceptions (like Twitter in 2007), a company’s efforts to “win” the conference will most likely be wasted.
Better to wait, according to Chris Heuer, CEO of Alynd, who believes “launching after SXSW is the new launching at SXSW.” Why compete with the social crowds when you can use the week of SXSW to build buzz and then follow up after with a full fledged launch designed to work for your audience? He believes in the benefits of this cadence so strongly that he’s created a platform to support it. It’s a simple mailing list that will keep all early adopters in the loop about what’s, well, launching next week.
On the other hand, launching pre-SXSW can also be beneficial, as seen this year with the emergence of Meerkat. The app launched a couple weeks prior to the event and built its audience organically before really taking off at the conference. While the verdict’s still out on the sustainability of the app, Meerkat certainly caught the attention of the crowds.
From the W2O Digital Brunch
Historically, SXSW has been a conference all about innovation and discovery – a place to find a new favorite band, the coolest new documentary, or the hottest new app. In order to continue to foster this environment during Interactive, the conference heavily encourages startups and entrepreneurs to participate in exhibitions and panels.
In fact, between 2014 and 2015, SXSWi doubled the amount of space dedicated to startups. Startups show the world what they’ve got at Startup Village and go head to head during the 7th annual SXSW Accelerator Competition. While most of these brands aren’t launching at the conference itself, the exposure they receive at SXSW can be integral in building a following and creating buzz around their products.
“The largest trend I’m seeing this year is the use of SXSW as a platform for entrepreneurs to make it big,” observes Bonin Bough, VP of Global Media and Consumer Engagement at Mondelēz International. “The festival has always been about artists using SXSW as an opportunity to showcase, and we’ve seen this spirit expand to the film conference and now to interactive.”
Through conversations and interactions between these highly creative and motivated teams, SXSW continues to serve as a breeding ground for new ideas and collaborations. “This is really becoming an entrepreneurial playground,” observes Bough.
from the McDonald’s SXSW Kickoff Party
Despite the influx of technology at the Interactive conference, personal relationships continue to be the cornerstone of every interaction. For brands, the takeaway here is that consumers still appreciate a human touch in the age of technology in order to elevate their experience.
“At SXSW, I’m seeing a lot of influential people building relationships and improving upon existing relationships. We’re getting back to the roots.” observes Charise Strandberg, Social Media Community Influencer at AT&T.
In between events at the various lounges and networking spaces, individuals from a range of industries are able to connect and share ideas. Influencers with large Twitter followings are seen chatting with CMOs, and community managers are able to share ideas with content teams. This informal mixing of knowledge about this space is one of the greatest aspects of the conference.
Ted Rubin, Social Media Strategist and speaker, feels strongly about the value of IRL communication. “I come to SXSW always for the relationship building,” he states. “SXSW is like stepping into your Facebook page. It’s about building relationships, not ‘networking’ as in collecting cards, but actually connecting with people, seeing them face to face, and taking the relationship to the next level.”
While many of these individuals have previously conversed on social media, there truly is nothing like meeting in real life. As Brian Solis, Speaker and Principal at The Altimeter Group puts it, “in the end, in a machine world, humanity is the killer app.”
From the W2O PreCommerce Summit
Everyone is looking for more and more personalization. Whether online, on your phone, or in real life, consumers are looking for companies to customize every experience with their preferences, history, and desires. As people provide this information, they simultaneously give up their privacy and share personal data with more and more companies. While there is a large spectrum on how individuals react to this sharing, there is certainly a line that many consumers feel companies cannot cross.
“In the discussions, panels, and presentations, I am seeing a tremendous amount of activity surrounding privacy and security,” observes Mark Schaefer, author of multiple books and editor of the blog {grow}. “All of this information, yes it can help us with personalization, but it can also cross a lot of boundaries too. This balance is definitely a big theme I’ve seen here this year.”
The conversation surrounding this topic is only going to increase as companies continue to collect personal data. While consumers are becoming increasingly comfortable with the idea of sharing information, concerns about security and privacy are certainly not resolved.
Overall, SXSW 2015 reconfirmed what we’ve known for a while: people are, above all, interested in other people. They want to be treated like individuals by companies, have concerns about protecting their personal data, and are increasingly comfortable buying from one another. Meerkat understands this and is providing a new tool to facilitate these person-to-person interactions at scale. The way customers interact with companies is changing, and any brand, small or large, needs to prioritize providing excellent experiences at every touchpoint.
Brian Fanzo, speaker and social practitioner, sums up the role of social media, the means of communication at the epicenter of this shift in behavior, by describing it as a facilitator: “Social media won’t replace a handshake,” he says, “but it will give you the opportunity to have additional handshakes and turn some of them into hugs.”
Treat people like people and prioritize experiences. It is essential that your company take these concepts to heart if you want to stay at the forefront of business and trends.
But if we only had several words to convey our experience at SXSW this year, we’d borrow those of Guy Kawasaki, bestselling author and Chief Evangelist of Canva: “It’s all about Meerkat and BBQ.”
About the Author: Brooke Baumgartner is a Data Journalist at Sprinklr and a recent NYU grad. Follow her NYC adventures on Twitter and Instagram @brookeebaum.
