"Jump Point" by Tom Hayes, and “What Would Google Do" by Jeff Jarvis

These are 2 great books that combined shed a lot of light on how the internet is impacting the way we do business and that we are just at the beginning of this "evolution".

Jump Point highlights that 3 billion people will soon be connected to the internet, making it the single largest marketplace on the planet. If you want to start something new, or grow your business, the quickest and easiest way to get going and attract customers is on the web.

The velocity of commerce is going to increase drastically due to the standardization of protocols, API’s and information shared between the communities on the internet eg OpenID, Facebook Connect just being one of them.

This is not exactly news and all of us in the industry live and die by it. But Hayes points out that in this context, the excessive amounts of time spent (often begrudgingly) on Social Media:  Twittering, Facebook, MySpace etc are not disproportionate to the potential benefits.  Reading the book brings home the fundamental importance of having an online presence - preferably a strong, easily recognizable one.  You’ll be updating your Facebook account and counting your Twitter followers before you’ve put the book down, I guarantee.

"WWGD" unravels and explains Google’s approach to doing business and then translates the adoption of this approach in more traditional enterprises.

Needless to say, it’s a significantly different MO from anything that’s been used before.
 
1. Manage Abundance, Not Scarcity
The more content Google has to organize and the more sites to place ads on, the better. Google-owned YouTube already has more search queries than Yahoo.
Scarcity has been obliterated by the internet.  Amazon’s approach is to offer customers more books and CD’s that could ever fit in one physical store. Amazon’s recommendations and Google’s search help manage that abundance.

2. Make Mistakes Well
Mistakes can be valuable, if you learn from them.  A recent trend involves releasing products that are not properly finished, i.e. in ‘beta’ version, allowing customer feedback to identify bugs and comment on the user experience.  This feedback is then incorporated into the finished product.
If nothing else, the tedious process of testing is performed by a totally objective audience.

Proctor and Gamble CEO A.G. endeavors to keep the company’s rate of failure with new product launches at about 40-50%. It encourages employees to think ambitiously and take risks.

How to Make Signs More Emotionally Intelligent -

3. Open the Dialogue
Google employs beta launches to incorporate user feedback into their service.  Dell launched a Web site to get customers’ ideas after a flood of criticism over poor service.  Starbucks launched mystarbucksidea.com and got 70,000 ideas in the first year. This openness to leads to a vice
overhaul: a sharp decline in the negative buzz.  A study by the London School of Economics highlighted that a 1% decline in negative buzz leads to a 2% increase in Sales [link]

4. Price as low as you can go (Free is Better)
The fastest-growing Net companies -Google, Skype, TenCent, Kaixin001, Amazon and eBay charge as little as they possibly can.  The more users you have, the stronger your competitive position. 

5. Execution and Speed
An idea is only as good as its execution. Cumbersome processes and official launch days are of the past. In the internet life is a permanent beta if not alpha or even pre-alpha. Get out there get the feedback and then incorporate that feedback. This book from Signal 37 is highlights exactly this and some of the process to adopt that approach.

And then taking 2 slides from the founder of Slideshare.

Finding Nemo (remember this movie…. it’s all about speed baby)

Associated Press file

Most of you know I worked at Sun for over 7 years in Corporate Development. Truly great years.

Since rumors emerged about an IBM acquisition of Sun, I have been getting a lot of questions about the deal; the synergies and benefits etc so thought I’d share my thoughts.

The original 100% premium over the stock price (pre-rumor price) is pretty lucrative and would provide a nice return for new shareholder including one Private Equity firm that injected a large sum earlier this year. There would still be, however, a large investor group that would remain underwater, including the likes of KKR. Nevertheless I’m sure management is taking the offer seriously. Read the rest of this entry »

Stefan has masterminded the following panel discussion and will be in the chair sharing insights on Asia’s Social Networking phenomenon and why it is here to stay.

Plugging into Asia’s Social Networking Phenomenon

Many of us believe we have Social Networking sussed. Think again.

With sites often reporting over 200 million users and new applications emerging daily, Asia is forging ahead in global Social Networking technology. Therefore, embracing the Asian Social Networking phenomenon is not just about maximizing marketing potential; it’s fundamental to survival.

Take a closer look:

• Over 60% of online adults in Asia Pacific logged into a Social Networking site in December 2008
• The same adults spend an AVERAGE of 137 minutes per visit
• 77% of China’s online population uses Instant Messaging (IM)

Source: comScore World Metrix
 
So, what are the business opportunities presented by this phenomena (especially in a downturn) and how can marketers take full advantage in their strategies? Music Matters 2009 (http://www.musicmatters.asia) will be exploring and analyzing the challenges and opportunities inherent in harnessing the power of Social Networking whilst guiding you through some of the tricks and tools on how to tap into it’s incredible market potential.
 
Music Matters will once again share the expertise of the champions of the industry empowering you to delve deeper into the Asian market.

THE ASIA PACIFIC MUSIC FORUM / 2-4 JUNE 2009
http://www.musicmatters.asia
 
FROM CONTENT TO CONTEXT
It’s not just what you listen to but how and where! Music Matters theme for 2009 will examine how the development of increasingly sophisticated and varied technological platforms is enabling consumers to choose how they interact with music whilst helping shape the future of the entertainment business.
 
EARLY BIRD SAVINGS
Register for the early bird here, in order to enjoy a 200 USD discount before 1st April.
- Download registration form -
 
FLY TO MUSIC MATTERS ON VIRGIN ATLANTIC
Music Matters delegates can benefit from discounted rooms at the Grand Hyatt and special fares on Virgin Atlantic flights from Sydney, London and New York, email Amy Laing at amy.laing@brandedasia.com for booking information.
 
NETWORK WITH MUSIC MATTERS
Join the social networking phenomenon and get connected to the people who attend Music Matters before and after the event.
- Join the Facebook group -
 
MUSIC MATTERS 2008 HIGHLIGHTS
Listen to some of last years internationally renowned speakers debate and watch examples of Asian artists showcase at the fantastic networking parties of Music Matters 2008.

As the economic crisis moves beyond the financial industry and begins to affect all business, the need to communicate efficiently and cost-effectively with consumers is more crucial than ever.  Without doubt, the best way to do this is via the internet.

The internet is the largest marketplace the world has ever known, with close to 3 billion people in the same space.

Simply having a website isn’t enough anymore – a strong presence on social networking and media sites has become essential.  It announces that you and your business know where the action is and are hip enough to participate in this intimate, up-close-and-personal-world where anyone can scrutinize you – and more importantly – contact you directly. 

Social networking is very real. A study by the University of Southern California found that 55% of Americans feel as strongly about their online communities as they do about their real-world counterparts. As businesses, Social Networking Sites are, finally, financially real too. MySpace is about to break the USD 1B revenue mark; Facebook has recorded some 300M in revenue; Tencent in China, a publicly listed company, is showing USD 500M. Revenue sources are still primarily advertising based (which is belatedly showing more sophistication and hence success), but in addition there are a number of very interesting and varied revenue streams (stay tuned… next post for that as this is not the topic of this article…..) 

So what the hell does social networking have to do with my business?

At EXICON we have been doing some studies into the core “essentials” of social networks in our work with corporate customers and mobile operators. If you look at these features it’s easy to see that they are relevant to businesses.

Profile: Name etc

Display Connections:  Not just your colleagues or your buddies: suppliers, vendors, partners and the groups, committee’s and initiatives you are a part of

Messaging:  Exchange between users and groups can happen publicly or privately

Psychographics: Here you can provide more insights into your objectives, missions, targets and your role within the organization

User Generated content: How many presentations are created, shared, downloaded; whitepapers drafted, reports compiled, research performed, and interoffice memos distributed? This is UGC  and the venue for sharing is perfect.

Combine these features with Social Graphs and News Feeds and you are increasing communication and obtaining instantaneous insights right across your product, consumer base and, just as importantly, within your own organization. Basically you’re moving at internet speed.

Several models exist purporting to show the monetary ‘value’ of maintaining a strong on-line presence. Most of them show a very healthy financial upside.  But if you don’t buy this then consider the reverse: what happens if you are not participating?  Internet speed is phenomenal in spreading the word, but it doesn’t distinguish between truth and lie.  You need to monitor your company’s online profile if only to exercise damage control should something begin to spread ’virally’ that is not in your interest.

And if you still think that social networking and media sites aren’t important in creating brand loyalty and getting your message out, well, you could always ask Barack Obama.

The new reality: forget mass market strategies. Establish a Social Media niche and then become either #1 or #2 in that space. Start your own conversations, be honest about listening to the conversations that go on around you and be brave enough to join in and put yourself out there.  You might be surprised to hear what they’re saying about you – and how you can use the information to improve the service or the product that you’re offering.  Add value, create a better experience and focus on establishing a tight-knit community. After all, those are the business activities that have always beaten recessions.