All posts by Mukund Mohan

My discipline will beat your intellect

FacebookOS: Will Community Replace SEO?

Facebook:
The $10 Billion Social Network?
This caught my attention. I get literally NO spam at Facebook. Granted I have few (about 100) friends and am judicious about adding new friends.

Much to no ones surprise, Yahoo, Google and Microsoft (all
apparently interested in buying investing in the popular online social site, and possibly
gearing up for a bidding war) are all looking at a $10 (now $15) billion valuation of
Facebook. Mark Zuckerberg’s decision to turn down Yahoo’s previous $1 billion
offer appears quite savvy for the then 23-year old owner. 

Perhaps more important to its valuation than Facebook’s
current profitability and popularity is its potential for future growth.

Since Facebook began allowing outside software developers to
create applications for use on the site (widgets), speculation has grown that a
new social media operating
system
is being defined with a wide range of tools (like search) found on
computer desktops. 

Facebook could soon have 200 million users—all of whom
advertisers would value highly because they can easily recommend products and
services to their friends on. With so many advertiser-coveted users, Facebook
could command higher advertising rates than search ads.

Could FacebookOS defeat SPAM?

Where Your Ideas Reign

Been cruising Dell’s Ideastorm.
John Moore from Brand Autopsy has been cruising it also. He gives interesting
insight
into what is going on with this online suggestion box that invites
customer dialogue on how Dell can improve its products and services.

Dell
uses Ideastorm
as a way for its product development team to co-create
products with the public, otherwise known as crowd-sourcing.
Pre-installed Linux on Dell computers was one of the first ideas generated that
Dell product developers worked with customers to co-create and introduce to the
marketplace.

Dell’s corporate blog site, Direct2Dell
is moderated somewhat. 90% of their 400+ comments are posted after a quick
review, according to Moore. Being less techno and more customer-oriented, we’re
interested, but less absorbed by the bits and bytes
of information posted. From the social media perspective, we find often the medium
is the message
.

Exploring the Direct2Dell Blogroll has led us to some very
interesting ideas. In particular, this post by John Jantsch on Reading
Blogs with Mobiles
which delivered us to Winksite. In their own words,
they are the first standards-compliant mobile Website builder that also
includes RSS-driven content deployment and mobile-tuned community features such
as forum, chat, and polls.

Going Mobile! These are bits and bytes we like to sink our
teeth into.

The Bottom Line: Ideastorm is giving us ideas, and we’d
very much like to hear your thoughts on the way Dell is interacting with their
online community, and on mobile blog feeds.

Stop Building Social Networks? And stop with the “Social” already . . .

FactoryCity offers this advice in a
recent post: Stop
Building Social Networks
. I’m a sucker for a good, enticing headline. This
one is especially provocative coming from Chris Messina.

This isn’t about getting connected online with your friends,
it’s about having to re-up your profile and get your friends to join up every
time you sign up for a new online service. 

Chris asks every single social network community site makes
you:

  • re-enter
    all your personal profile info (name, email, birthday, URL etc.)?
  • re-add
    all your friends?

and why do you have to:

  • re-turn
    off notifications?
  • re-specify
    privacy preferences?
  • re-block
    negative
    people

I believe what Chris is really saying is: Okay Web
Developers of social networking sites, we’ll let you slide on Web 2.0, but Web
3.0 needs to allow for single profile creation among many sites. Sounds like global data
synchronization
of everything about me in one easy to share database. Makes
absolute sense. A master
data management
solution to keep you and your P2P (person to person)
community sharing everything you want to share. It might even work for those
continually abandoning
their profiles when they forget their passwords
.

One commenter offered this.

While Chris Messina may think that the fatigue effect
hasn’t spread beyond the social geeks I would suggest that the word social is
very quickly becoming one of the most used and misused words on the internet to
the point people are starting to gag when they read or hear it. After all it is
nothing more than a term of convenience because anyone who thinks that the act
of sitting behind a keyboard and monitor to communicate with other people is
being social needs a head check.

The Bottom Line: This one begs for a comment, especially
from social geeks and web developers. Any thoughts on the matter?

Why Users Generate Content?

According to the data Helen Legatt reports on BizReport,
the majority of online contributors do it for fun and fame. Others said they do
it to share experiences with friends and benefit others. Financial reward isn’t
part of the equation since there isn’t any.

And there’s the scientific evidence that human
beings are hard-wired to connect
, which we’ve touched on previously. 

And this leads us to Abraham
Maslow’s Hiearchy of Needs
. His paper, A Theory of Human Motivation
was written in 1943.

 <img src="/images/64360-56413/clip_image002.gif” border=”0″ width=”400″>

Once people’s basic physiological needs are met, and they
feel safe and secure, they seek to widen their social network to create a sense
of belonging. This is at the core of the online community phenomenon, the
myspacing of the Internet. 

Blogging for fun and fame then continues our climb up the
pyramid of human needs in search of recognition and esteem, and sating our
natural curiosity to discover things. At the top, we find self-actualization
and our instinctive need to be creative and make the most our abilities. So,
even though the rapid growth of social and business communities became the next
big thing on the Internet, it’s nothing new to human nature. It was inevitable.

Maslow believed we should study and cultivate peak
experiences
as a way of providing a route to achieve personal growth,
integration, and fulfillment. Peak experiences are unifying, and ego
transcending, bringing a sense of purpose to the individual and a sense of
integration. Individuals most likely to have peak experiences are
self-actualizing, mature, healthy, and self-fulfilled.

Why stop there?

At the core of every religion lays the theme of the
interconnectedness of all things. Imagine a moment in time if every individual
on the planet were to connect. With technologies like Twitter, we might
experience a group dynamic of transcendence well beyond our normal waking
reality, like an evolutionary jumpstart on human consciousness.

The Bottom Line: Get connected and bring it on!

Making Ginormous Amounts of Money with Social Media

Have you ever seen a presentation that is just too slick?
The presenter is just too oily smooth? Kind of scary in an inhuman sort of way
but you know you’re going to buy, because what choice do you have when you’ve
fallen into the dark side?

Tara’s jet-lagged talk (I empathize having once presented
toa  boardroom full of investors while
suffering a full-blown attack of the flu, yikes!) at e-day 2007 adds to the human quality of the
subject matter, which is How
to Make a Gabillion Dollars with Social Marketing
.
. . or something to that effect.

For those too busy to watch the 30-minute video, or go
through the 178 video slide presentation, I’ve summed up the key points here if
the topic comes up when you’re offline.

  • …this
    year Forrester Research
    found that only 13% of consumers say they buy products because of their
    ads. Contrast that to 60% of small business owners in North America that
    say they use peer recommendations to make their buying decisions and over
    70% of 18-35 year olds who report the same for their media purchases.
  • Companies
    like Pay-Per-Post, who cater to clients who want to tap into Social
    Networks and the power of blogging, think they will influence others
    through word of mouth, but they have it dead wrong.

That’s the gist of her presentation, but you also need these
5 sure-fire steps to transform yourself from a … spammer into a connector:

  1.  Turn
    that bullhorn inwards.
    Stop
    talking and start listening!
  2. Become
    part of the community you serve. Figure out whom it is you are serving.

    It isn’t everyone. Then get out of your office and into the community.

  3. Create
    amazing experiences for your customers.
    Design for maximum
    connectedness, happiness and joy. Empower and elate.

  4. Embrace
    the chaos.
    Don’t over plan. Learn to be more agile and recognize
    everyday magic. (She offers 7 very Zen steps on how to embrace chaos which
    I’ve distilled down to enjoy this moment now as everything is out of your
    control anyway. Ommmm. . . . )

  5. Find
    your higher purpose.
    Social Capital only gains in value as you
    give it away. Figure out how you are going to give back to the community
    and do it…often. 

The Bottom Line: Tara Hunt is one of many avatars of the new
consciousness that is awakening. Whether it’s a product of the social
connectedness of the Internet or vice versa remains a “chicken or the egg”
dilemma.  Namaste

The Power of Community Marketing

Chris and Jaketalk about Marketing and Communties.

Western consumers are blasted with so many promotional
messages a day – some estimate up to 3,000 – that they simply tune out and move
on. This year a Forrester Research study found that only 13% of consumers buy
products because of their ads. Online, the marketplace is even more cluttered.
New e-commerce shops are cropping up by the thousands. Webmasters scramble to
develop the next big SEO strategies, while the corporate websites they serve
are becoming less trafficked by the day. So how do businesses break through
when they’re likely to be ignored in this sensory-overloaded environment?

Welcome to community marketing. Sites like MySpace.com,
Multiply.com, LinkedIn.com and Facebook.com have created social networks that
are ripe with opportunities for businesses to connect with online communities
in a way that builds credible brand awareness, tests new products and,
ultimately, drives interested customers to the virtual door.

Facebook.com, which started as a place for college students
and alumni to connect, has opened its platform to all users to become one of
the fastest growing sites of its kind. It features a clean, professional look
and multi-use, customizable functionality. For marketers, this means that they
can develop a portal that extends their reach to thousands of targeted prospects
by building communities of like-minded consumers who then become brand
ambassadors, spreading the word about the latest and greatest product lines.

The irony of this strategy is that, in order to be a
successful marketer on Facebook.com, you must NOT be a marketer. This approach
hinders on your company’s ability to connect with consumers in an organic,
relationship-driven way. After all, people don’t join these sites to seek out
advertisements; they’re there to make connections with others. As soon as paid
ads, opinions or reviews enter the picture, credibility is lost. Game over. 

Clearly, this can be tricky business. Where do you start?
First and foremost, get to know the site on your own. Set up a personal page
and experiment with the platform. Almost immediately, you’ll become fluent with
the basics:

  • Profile: A rich data source of
    background information, blogs and personal preferences that users can see
    and share amongst friends.
  • Networks: Users can join groups of
    a regional, business or scholastic nature or create their own.
  • Homepage: The news feed that keeps
    the user up to date on all activity surrounding their friends and
    networks. It lists events, connections and other posts adjusted to limit
    or increase the amount of content.
  • Events: Groups can organize,
    invite, manage and promote online or in person gatherings to their
    members.
  • Multi-media: Facebook allows
    audio, video and live streams to be posted on its platform to engage
    visitors.
  • Advertising: Savvy marketers can
    post “flyers” on the right hand column of the site, which can be highly
    targeted to specific markets based on Facebook’s vast data system. 
  • Applications: This is the
    distinctive advantage of Facebook.com. Users have hundreds of interactive
    applications at their fingertips to share with friends. These range from
    basic “gift” sending capabilities to the ability to play online Scrabble
    with their community.

Once you familiarize yourself with Facebook, you’ll quickly
find that the one way to make a splash and create a viral phenomenon is through
the applications function. Users can build their own applications within the
platform to create a customized experience.

Wal Mart has effectively applied this strategy with its
College ’07 Facebook campaign. Users can research the store’s offerings, create
dorm room checklists, and even compare notes with their new roommate. The
“Roommate Style Match Quiz” allows students to determine their personal living
style and learn what the items will match that personality. Roommates can then
compare notes on each other to find a compatible (Wal Mart) décor that suits
them both.

For the innovative retailer, this type of relationship
building holds great promise. Consider a clothing business that is exploring
potential inclusions for next season’s collection. A company representative can
test new designs within the Facebook community by forming a group of
style-savvy consumers. These “insiders” will receive sneak previews of
pre-store fashions that, with the right application, can be personalized.

Perhaps users can send photos that can be manipulated so the
users can virtually “try on” the clothes. They can invite friends to vote on
their favorite looks, thus expanding the network and encouraging future
purchase while the voting is collected into application that ties into the
backend buyer system for making good calls on potential new lines before they
come out.

Social marketing is still evolving as a powerful tool to
connect to your. Social capital is the currency, but losing credibility in the
community can bankrupt your online status very quickly.

2008: Year of acquisitions for community vendors?

George Dearing talks about some predictions for 2008 for social media. CIO Insight has a piece on Microsoft being the Facebook for the enterprise.
There is an absolutely great amount of interest that I hear from folks at Jive, Leverage Software, Shared Insightsand Small World Labs. There are several others that are more B2C focused, but these four appear at the top of most B2B communities decision makers that I talk to.

Usually that’s an indicator of future success. If I ask the customers about who they would like to work with, the early adopter almost always prefer smaller companies like the ones I mentioned.

But the early majority has the “No one got fired for buying IBM” mentality. So I expect at least 3-4 acquisitions in the next year.
Valuations: Typical software valuations instead of “eyeballs or community users”. Expect 7-8 times revenue.

Check out their blogs to get more of a perspective:

1. Daveat Jive Software
2. Mike at Leverage
3. Aaronat Shared Insights
4. Mike at Small World Labs

David Weinberger and Francois call on Marketing 2.0

Francois had a great conference call today with David Weinberger.

David Weinberger is a technologist, professional speaker, and commentator, probably best known as co-author of the Cluetrain Manifesto (originally a website, and eventually a book, which has been described as “a primer on Internet marketing”).

David’s writing a new book: Everything Is Miscellaneous(http://www.everythingismiscellaneous.com/).

Markets are conversation, but marketing does not have to be a conversation.

Having been on both sides of marketing – as a consulting vendor and as a VP of marketing, I have to say its extermely difficult to give control of marketing to your customers.

Marketing on the Brain

I just can’t help
it. Reading about marketing neuroscientists brings forth images of white mice
watching beer commercials wearing tiny colanders sprouting spaghetti wires.
Substitute humans for mice, and that sounds like what neuromarketing is about.
I’m willing to keep an open mind on the topic. Anyone have a persuasive
argument?

Mya Frazier’s
article
in Advertising Age gave a fair assessment of the current
state-of-the-art of neuromarketing. She includes both proponents and detractors
of using EEG machines and fMRIs to scan people’s brains and monitor eye
movements while viewing ads. It’s an effort to determine consumer behavior like
focus groups. But is it really value-added?
 

The biggest argument
against is that studying brain waves in isolation removes cultural factors that
have major impact on purchasing decisions. Hmmm . . . like theoretical value
vs. realistic value . . .

When Mya asks the question: 

Is neuromarketing any better
than what’s out there now? Or will the unfulfilled promise of uncovering the
neurological basis of consumption thrust a research industry already flirting
with dysfunction into crisis?

. . . a smile forms.

 

The Bottom Line:
Consumers aren’t truthful. Real-time visibility into your supply chain is. In
fact, it’s a “no-brainer”. (Couldn’t resist.)