Case Study--FiOS Part I: How does Verizon's FiOS value proposition translate into a strategy targeted to college students?
Verizon's FiOS value proposition is clear: blistering fast Internet service (up to 50 Mb download rate in some areas), sparkling, realistic TV picture, so lovely to behold, and a ubiquitous mobile network. The "Triple Play" offer ties a bow around the whole thing and makes it tempting to give Verizon all your technology-oriented business for the convenience of one bill.
But, how to target such an offering to the very lucrative college market? The I-may-be-poor-now-but-I'm-a-heavy-technology-user-and-will-be-your-mainstay-customers-before-long market? It's easy to think that broad-market advertising, a Facebook Fan page and Twitter account will do the trick, but I submit that this misses the mark entirely. In today's social media-driven environment, how about an approach that leverages the social tendencies of this age group? How about a strategy that's one part Netflix, one part DirecTV, one part Twitter? Let's call it FiOSFans. Here's what I mean:
FiOSFans Groups Use TV Shows to Create Social Sharing
Imagine that, not only can you schedule your DVR from your phone (that's the DirecTV part) but you can also choose to share your DVR list (maybe you have the ability to mark some DVR items as private) with your friends by joining FiOSFans groups (that's the Netflix part), check their lists on your phone app and choose to add their shows to your DVR lineup? What's genius about this? Well, instead of relying strictly on advertising to get new customers, social groups encourage one another to be on FiOS so they can share their entertainment choices and commentary. How?
Well, what if customers could leverage their Twitter sign-ons to find out who in general or just among their friends are watching a particular show? Let's say the Twitter stream isn't just context-sensitive but can be filtered down to just your Twitter friends or even just your FiOSFans group and you can search history so that you can get filled in on what your friends were saying about the show when they were watching it...say two days ago.
FiOS as a 24-7 Viewing Party
What would this look like? Imagine a reality show like American Idol, a football game, or a drama series like 24. How many updates do you see on your Facebook page or your Twitter timeline today specifically related to a particular show, many times one that you don't watch? But if you had a group formed of all your friends who watch your shows, (maybe there's a jock at your college who watches American Idol and you would never have guessed!) you could chat about the shows you love with only other friends who love them, too. Every show becomes a viewing party with your friends, even if you have class, work, or need to study for an exam. You just watch it later on your DVR and use your FiOSFans group to join the party whenever it works for you.
It's a self-perpetuating cycle: using the mobile format to take advantage of "time and place" opportunities (friends say "you've gotta see this" and you can put it on your list now, rather than risk forgetting about it), using the TV format as common ground to build social groups, using Internet widgets to share commentary and strengthen the value of the groups' shared interests.
Can You Feel Me Now?
To me, an approach like this is the difference between a company that "gets" how to leverage social media for a key target market and a company that just jumps on the social media bandwagon without a strategy for using these channels to reach out to their target markets. Verizon is one of the top technology companies on the east coast. College students are not going to be swayed by a lame Facebook page. What means something to them is a company that understands that they trust their friends' opinions more than any advertising and becomes the host at a party where they can do just that.
