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Posts Tagged ‘business’

Social Technologies & Value Creation

Social technologies “may become the most powerful tools yet developed to raise the productivity of high-skill knowledge workers — the kind of workers who help drive innovation and growth, and who are going to be in increasingly short supply.

This is one of the surprising takeaways from our recent research on the economic impact of social technologies. The business world knows (or thinks it knows) a lot about how social technologies are changing the world. With consumers spending gobs of time in online communities (more than 1.5 billion consumers around the globe have an account on a social networking site and almost one in five online hours is spent on social networks), marketing departments have increasingly shifted their attention to social media. They’re not only advertising and creating their own social sites, they’re engaging with consumers, listening in on unfiltered conversations, and soaking up huge amounts of data on consumer behavior — all of which is producing nifty new insights for fine-tuning product requirements and marketing messages.

It’s powerful stuff that will continue to evolve and change the way that companies market to consumers and B2B customers. But, it turns out that there’s something even more powerful at play: the potential for value creation when social technologies are used to improve collaboration and communication within and across enterprises is twice as big as the value that can be created through all other uses across the value chain.

Via Social Media’s Productivity Payoff

Networking for the Win

Too many people fail at the followup, IMHO.

1. Press the flesh.

The core to networking is meeting people face to face. Except for rare occasions, such as long-distance online romances, all the friends and business colleagues that we trust we’ve met in person. If you think you can be an effective networker solely by engaging in social media, you’re sorely wrong. You have to get out and press the flesh.

4. Always follow up.

This is the core of all networking: following up. If you don’t do it, you might as well never have met the person. I would estimate that one out of 20 people I hand my business card to follows up. Collecting business cards without following up is a wasted engagement. It only takes days for the person to completely forget meeting you. If you follow up with some level of context of your meeting it increases the value and impact of the meeting. To remember that meeting, take notes on the business card.

When you do follow up, be specific about your follow up. Don’t just say, “Nice to have met you,” or, “We should meet for coffee sometime,” because that now puts the onus on the other person to set up the meeting and discuss its purpose. That’s quite a burden. If you want that to happen, you need to set the place, time, and purpose of the discussion.

7. Listen.

Yes, it’s good to be directed about what you’re doing and have focus, but you’ll be a far more effective networker and make better connections if you simply listen to others. If someone else isn’t as much a talker as you are, then ask questions. Pull them out of their shell; that will let you to listen to them. Networking is not an opportunity for you to spout out marketing copy that you hope someone else will absorb. Your job is to listen and create a relationship first.

Via 10 networking tactics that most people screw up

Facebook’s Future?

After Facebook fails

The amazing thing here is that business keeps trying to improve advertising — and always by making it more personal — as if that’s the only way we can get to Michael’s “sweeping, basic, transformative, and simple way to connect buyer to seller and then get out of the way.” Three problems here:

  1. By its nature advertising — especially “brand” advertising — is not personal.
  2. Making advertising personal changes it into something else that is often less welcome.
  3. There are better ways to get to achieve Michael’s objective — ways that start on the buyer’s side, rather than the seller’s.

…In , which Chris Locke, David Weinberger, Rick Levine and I wrote in 1999, we laid into business — and marketing in particular — for failing to grok the fact that in networked markets, which the Internet gave us, individuals should lead, rather than just follow. So, since business failed to get Cluetrain’s message, I started in mid-2006 at Harvard’s Berkman Center. The idea was to foster development of tools that make customers both independent of vendors, and better able to engage with vendors. That is, for demand to drive supply, personally. (VRM stands for .)

Imagine being able to:

  • name your own terms of service
  • define for yourself what loyalty is, what stores you are loyal to, and how
  • be able to gather and examine your own data
  • advertise (or “intentcast”) your own needs in an anonymous and secure way
  • manage your own relationships with all the vendors and other organizations you deal with
  • … and to do all that either on your own or with the help of that work for you rather than for sellers (as most third parties do)

Signal

5 secrets to building your LinkedIn presence

Use LinkedIn Signal for prospecting.

Signal is a feature on LinkedIn that is rarely talked about, but it is powerful. You can access it by selecting “Updates” in the master search menu or by selecting “Signal” in the drop down menu on the “News” tab.

Basically, Signal is an aggregated feed of all the status updates, groups posts, and any other content posted on LinkedIn.

Why is this powerful? Because you can essentially see every status update from every person on LinkedIn. Not just your connections, or those within a couple degrees of you, but every person on LinkedIn.

You can then use a targeted keyword search to sort through the statuses to find people talking about topics with which you want to engage. You can even sort the results by company, location, and many other parameters.

I just learned about Signal & I’m going to explore it.

Behold the Rise of the Chinese Hipsters??

Catering to the Self-Expressive Chinese Consumer

There’s a growing sense of the self among the Chinese and an increasing emphasis on self-expression, which is causing at least one major change: The importance of emotional considerations in purchase decisions is shooting up. The need for emotional benefits in categories such as chocolates and mobile handsets rose, according to our survey, from 1% in 2009 to 19% in 2011 — a number that seems likely to keep rising.

Marketers will have to cater to Chinese consumers’ desire to express their individuality by developing brands that “talk” directly to them. That will apply not only to high-involvement products such as cars and mobile phones, but also to commodities such as milk and salt. Even in a low-involvement product category like detergents, 7% of Chinese consumers — up from 2% in 2009 — say that the best products should not only clean clothes, but also make them feel special.

As the Chinese become more knowledgeable about products and more affluent, and safety standards become tighter and better enforced, they’ll feel safer trying out lesser-known brands. That’ll make them more receptive to niche brands that talk to them as “individuals” as a way of setting themselves apart.

Hi, My Name is Lisa…

The Ideal Elevator Pitch

A successful elevator pitch must:

  1. Grab the attention
  2. Lay out a solution
  3. Adjust to the audience
  4. Demand Action

 

What is Crisis?

When written in Chinese the word crisis is composed of two characters.
One represents danger, and the other represents opportunity.

~ John F. Kennedy
Indianapolis on April 12, 1959