What SMEs cannot do without..........

As per the Latest SME Buzz in Economic Times, Top 10 disciplines that SMEs cannot do without include-
1. Customer Relationship Management
Tools that companies use to interact with customers which includes Marketing, Employee training and special purpose CRM software.
2. Knowledge Management Tools
Tools for managing knowledge in organisations for supporting , creation, capture, storage and dissemination of information to enable employees to have ready access to organisation's documented base of facts, sources of information and solutions.
3. Enterprise Resource Planning
Systems which are intended to manage all the information and functions of a business or company from shared data stores.
4. Online Collaboration Tools
5. Information Security
6. Social Networking
7. Payroll management tools
8. Search Engine optimisation
and many more........

IIM-A incubator iAccelerator accepting applications for 2010 edition

I post an excerpt of the mail sent to me by the program manager of iaccelerator 2010 from IIM-AMD requesting me to host this information on my blog.

"iAccelerator is an incubator of internet & mobile startups in India.
We’re looking for brilliant individuals and teams who want to make a
dent in the universe and do so profitably. Our incubation programme
runs from June 1st to August 1st this year. The deadline
for our 2010 edition is April 10th.

Karam Lakshman
Program Manager, iAccelerator
karaml@iimahd.ernet.in
iaccelerator.org"

The Gartner Hype Cycle for emerging technologies, 2009

As per the Gartner Hype Cycle for Emerging technologies, 2009, corporate blogging is inching up towards mainstream adoption.This is an improvement as against the Gartner Hype Cycle...2008.This has been an improvement from the Gartner report, 2008, as Corporate Blogging moves up from the Trough of disillusionment to the slope of enlightenment. Cloud computing and E-book Readers top this year's Peak of Inflated Expectations.

237 individuals come together for a noble cause

Early this year, 237 bloggers from the marketing, research and associated streams, from 15 countries across the world decided to partcipate in a collaborative venture called the 'Age of Conversation 2' to raise money for Variety, the children's charity. All proceeds from sales of the book, available in hardcover and softcover editions, as well as a downloadable e-book, will be donated to Variety, the international children’s charity.

My chapter in AOC 2 on "Interactivity in the digital age" talks about improving the interactivity of an online marketing communication tool for better brand communication. The thoughts included in the chapter are based on my research paper: "Improving Corporate Blog Interactivity for increased brand communication" which can be downloaded from the research library at Customerthink-the global thought leader in customer-centric business strategy.

The primary thought behind the book-

The marketing industry is abuzz about how citizen marketers are changing the landscape, and these books capture that new phenomenon from a uniquely global vantage point.

The Age of Conversation 2 is available as a downloadable e-book, at a cost of $12 and a limited number of printed books in hardcover for $29.95, and softcover for$19.95.

Purchases can be made online at lulu.com. More information can be seen online at the Age of Conversation.

Keywords and content attractiveness

Having the right keywords for your blog-

Keywords are words you need to have on your blog that search engines look for as they crawl through your site, helping them categorize your blog’s content. They obviously are also the words people type into a search engine and need to be on a blog to help it appear in the search results.

That's the premise of internet marketing.......

As I sprinkled the right keywords, through a set of posts on my blog to aid categorisation, a post on the 4 C's of marketing, placed over 15 months back, surprisingly has garnered the highest volume of hits. The ability of the most basic concept of Marketing to generate that volume of interest on the internet as a medium, is interesting to note.

Food for thought:The correlation between keywords and ability to generate content attractiveness in a corporate blog would be interesting to look at.

Corporate Blogging Series VIII-Driving Consumer Engagement through a corporate blog

General Motors has been using it's Corporate Blog as a marketing tool to change brand perceptions and build consumer engagement.It would be interesting to know how the kind of content posted by an organization drives consumer engagement.

My article on Customerthink
A Troubled General Motors blogs to connect with it's customers
which has been featured under the category CRM, has been created out of findings of research being pursued on a set of corporate blogs to look at content categorization and how content attractiveness can build consumer engagement, which is an integral component of the CRM endeavours of any organization.

Social CRM-Finally......

Finally!!!

Recognition for Web 2.0 as a tool for CRM!!!

Courtesy: Oracle

An Oracle Appcast with Oracle V.P, CRM Solutions

While summarising the state of CRM industry, Anthony Lye, Vice Prseident, CRM Solutions-Oracle talks about changes in the CRM Technology in the last 3 years, where he highlights the emergence of Web 2.0 as a tool for CRM.

Relevant points-

1.Emergence of web 2.0 and its ability to extract innovation by enabling people to participate, socialise and collaborate has generated huge opportunities.

2.Web 2.0, by ushering in an era of collaboration and social partiicpation, has, for the first time in the history of computing, brought about the fact that technology on the internet leads technology on the intranet.

Key points relevant to Corporate Blogging here-

A Corporate Blog-a Web 2.0 outcome, is an excellent tool in an integrated organisational context, for the dimensions of-
a)Interactive Marketing
as an instrument in the value chain, specifically in terms of communication of value to the customer.
b)Branding
as in ability to create a brand image by influencing consumer perceptions and hence diverting greater traffic to websites.
c)The Customer Relationship
as in a vital tool for consumer engagement.

As per my suppositions in this field an year back,
i)Customer Acquisition and Customer Retention were the twin CRM objectives for any organisation(Shainesh)
ii)Customer Acquisition was a result of collective organisational efforts directed towards marketing and branding.
iii)Retention was a result of the organisational ability to drive brand loyalty through directing efforts towards customer engagement and satisfaction.

Just when the entire contribution of Web 2.0 to the entire fabric of marketing, branding and customer relationship was on the verge of going down in history under the segment of 'Interactive Marketing' alone, merely for want of acceptance from a reputed name in the field of CRM, the announcement by Oracle has been timely!!!

With Gartner recognising Corporate Blogging and Oracle pitching in for Web 2.0, the evolution process of Social CRM, over the next couple of years, will be interesting to watch.

Corporate Blogging Series VII-The Gartner Hype Cycle for Emerging Technologies, 2008

The Gartner Hype Cycle for Emerging Technologies, 2008, lists Behavioral Economics, Mobile Robots, Surface computers, Augmented reality, Cloud Computing and Microblogging as the new upcoming technologies.

As per a series of Gartner's studies, over the years, each technology passes through the phases of

1.Technology Trigger
2.Peak of Inflated Expectations
3.Trough of disillusionment
4.Slope of enlightenment
5.Plateau of productivity
during its lifecycle

Gartner’s own summary is this:

[…] "Although Web 2.0 is now entering the Trough of Disillusionment, it will emerge within two years to have transformational impact, as companies steadily gain more experience and success with both the technologies and the cultural implications," said Jackie Fenn, vice president and Gartner Fellow. "Later - in between two and five years - cloud computing and service-oriented architecture (SOA), which is moving up the Slope of Enlightenment, will deliver transformation in terms of driving deep changes in the role and capabilities of IT. Finally, public virtual worlds, which are suffering from disillusionment after their peak of hype in 2007, will in the long term represent an important media channel to support and build broader communities of interest."

Some interesting aspects here-

1.Microblogging(Twitter) seems to have some scope ...
2.Web 2.0 has a good chance of achieving the promise that is currently seen as so much hype.
3.Corporate Blogging,seems to be emerging out of the Trough of disillusionment and is significantly slotted in the category of "LESS THAN 2 YEARS" to mainstream adoption.
4.Social Network analysis is within 2-5 years of mainstream adoption.

Branding and Marketing in the Web 2.0 world

The application of the participatory nature of Web 2.0 and the ability of viral proliferation is being leveraged by the Marketing function.

Peter Kim's list of 162 brands using social media for marketing

As organizations struggle with market coverage and penetration strategies, Web 2.0 offers numerous tools to aid the organizational endeavour to reach the consumer.
With a distinct price advantage, and the ability to build a brand online, building brand identity, meaning and forging brand relationships seem to be the order of the day.

A Corporate blog is a perfect tool for connecting a well defined brand strategy to online presence enhancement. Provision of the capacity for monitoring consumer responses to a brand through the user comments,will soon bring corporate blogging into mainstream adoption.

Corporate 2.0

Over 35 examples of organisations using social media to build consumer engagement
35+ Examples....

Apple, Kodak and Sony are other corporates which could have made it to the list.

The Web 2.0 enterprise and the customer

A McKinsey survey on usage of Web 2.0 tools in organisations has some interesting results.

1.Tools they looked into:Web services, Blogs, RSS, Wikis, Podcasts, Social networking, Peer to Peer and Mashups.

2.Out of the agendas for adoption, focussing on interactions with customers has emerged as an important objective.

3.Adoption of Web 2.0 has changed the way organisations interact with their customers and suppliers.

4.Getting customer participation in product development, improving customer services, customer aquisition and enabling customer interaction were the core utilities of these tools in the ' Interfacing with Customers' category.

5. Adoption of managerial methods to encourage adoption and reduce barriers to these tools made sense in a competitive scenario where adopters of these technologies would end up with a decided competitive edge.

6. While these tools are being used for internal and external communication, usage for co-creation may soon evolve into usage for driving innovation.

The full report-Building the Web 2.0 enterprise

Corporate Blogging Series VI-Indian Corporate Blogs

The latest addition to corporate blogs in India, after Infosys ,Tata Interactive Systems Ltd., Cleartrip.com and Frito Layis the Indian auto giant Mahindra and Mahindra.

Named the Mahindra Universe, the blog revolves around 4 thought processes-
Customer Centricity
Globalisation
Sustainability
Innovation

With respect to Customer Centricity, the blog says-

Mahindra aims for a long-term engagement with its customers and encourages customer loyalty and advocacy by responding to their changing needs and expectations speedily, courteously and effectively. Engaged customers ensure a business of sustained and profitable growth.

With about 30 posts in a 3 month time span, it will be interesting to follow the usage of the blog by the organisation.

Emergent Social Software Platforms-The list of FAQs

Professor Andrew McAfee at Harvard Business School has compiled an exhaustive list of the frequent causes of organisational dilemmas towards adoption of emerging social software platforms.Primarily relevant to the set of organisational setups who are still very skeptical about the possible chances of misuse of these platforms by employees.

A must read-
Some questions you might get asked

Professor Mc Afee's research on enterprise 2.0 is a reference place for organisations attempting to weave these social software innovations into the corporate setup.

Further reading-
Web 2.0 in the enterpriseby Michael Platt from Microsoft.

Corporate Blogging Series V-8 reasons why organisations should blog.

Andrew Rudin's post at Customerthink raises a pertinent question with respect to an ideal social media tool for salespeople.

My take on this-

Social media is a good tool to track prospects through social networking sites and highlight product benefits. The negative implication obviously lies in this being a short term solution.To work on that, salespeople can team up and form online communities which can also help reduce post purchase dissonance or doubts and at the same time help the organisational customer centric strategies by allowing a peep into the consumer mind through analysis of the member conversations.

My view on the right social media tool for the job is an organisational blog.There are too many shiny new web 2.0 objects,and social networking sites can help form groups faster(so a good short term approach) but i still think that a blog may make more sense.

1.The blog can serve as a virtual brand communication tool and selected salespeople can join hands and benefit from each other's posts and consumer comments.It is easier to update than the organisational website.

2.By posting content relevant to the consumer organisations can give them a reason to revisit the site.

3.A blog post will optimise better on search engines.

4.It will equally serve the purpose of a community.

5.Ownership of an employee contribution on the organisational blog lies with the organisation.

6.Blog audiences appear to be more focussed- so discussions will be more meaningful.

7.The organisation can link back to all consumer evangelists blogging about the organisational products and hence try to reign in the consumer generated media to some degree.

8.The organisation can participate in the online dialogue that consumers or the relevant industry as a whole is involved in.

9.Tracking and monitoring consumer sentiment becomes easier.

As I researched varied types of content on organisational blog posts, I was able to identify at least 25 different types of the same. A factor analysis should help categorise the same into relevant content categories.

Somewhere this appears a more subtle, more relationship marketing way of getting a customer...doesn't it?

The Forbes Business and Financial Blog Network

Last month my mail inbox had an email with the following subject-
Business and Financial Blog Network: an invitation to join: Forbes.com

The text ran something like this-

"You are invited to join the new community of the high quality business and financial bloggers from Forbes.com. Our community, the Business and Financial Blog Network, was launched in March, 2008.We chanced upon your blog in a google search........

The Blog Network’s content will focus on senior business decision makers and high-net-worth investors. Topics will be relevant to the banking, trading, hedge fund management, affluent investing, and senior business decision-making communities. Participation in the network is by invitation only, and all blogs are vetted by Forbes.com editors for appropriate content, and to ensure that they are in keeping with the Forbes editorial brand.
Your blog will be promoted to our roster of blue-chip advertisers and we will only run campaigns that are appropriate for the audience. "

I joined the network and for all those bloggers who would like to do the same, click on the network ads located in the right margin or in the footer and then let forbes take a call....
For those interested in hosting ads on your blogs, look up Google adsense.Google AdSense matches ads to your site's content, and you earn money whenever your visitors click on them.

Happy blogging!!!!

Corporate Blogging Series IV:Content Attractiveness and the Consumer.

Debbie Weil’s post on tools to measure the success of a corporate bloghighlights the usage of Google Analytics to measure statistics, page views, unique visits, time on site, maximum page views and feedburner to track RSS.

She also talks about inbound links to the corporate blog. Technorati rankings make sense, but I still feel that Technorati Authority will be a better measure. The take on comments is relevant, as comments appear to be a better measure of consumer interest than no. of unique page visits and time spent by a user on an exploratory search, who happened to land onto the particular webpage. Though useful from a long term point of view for generating brand impact, of greater interest to an organisation is a somewhat ‘engaged’ user who is significantly emotional about the brand enough to comment on an organisational post. What is more interesting here, than the kind of post which garnered the maximum views is the kind of post which garnered the maximum comments!!

Blogs attempt to change the flow and balance of information and try to shape perceptions by presenting a unified mass market branding image which can be confronted by a counter flow of dissenting opinions, alternative sources of information and messages.It is these opinions which are reflected through the user comments that are significant.

In this context, a user perception survey for content on a corporate blog can help categorise content into different categories. Further, ascertaining no. of comments per post in each category separately and statistically analysing the same can add value to the process of generating accountability for a blog.

Content attractiveness may well hold the key to building consumer engagement through social media.After all, a post responding to a brand related controversy may generate far more consumer interest than one about the organisation's CSR initiatives!!!

Social media reading

Some interesting Social media reads-

Frank Gruber's Social media list

K D Paine's Measurement tools for online media

Eric Peterson's Voice of the customer-Qualitative data as a critical input to website optimisation
An excellent demonstration of how some where, when, who,what, why questions pertaining to visitor interaction on the internet.

Corporate Blogging Series III-Consumer Engagement,Technorati authority and CGM

Research clearly indicates that organisations have accepted 2 facts-
1.Cultivating a respectable level of customer engagement is a strategic challenge.
2.The volumes and degree of consumer engagemnets will have long term implications for a firm.

Let's take a look at social media's role in this entire talk about consumer engagement.

Mario Sundar at the Linkedin Corporate Blog lists the top fifteen corporate blogs on the basis of their technorati authority.

Technorati authority is a measure of the number of blogs linking into the blog under discussion.In other words, technorati authority is indicative of-
1)Popularity of a blog as in terms of voulme of readers.
2)Volume of user generated content about a blog, with those many other users having generated content regarding that particular organisation, brand or product.

For the purpose of this discussion on corporate blogs, let us assume that a significant number of visitors to the blogs in question are customers-prospective and current.

Further, as per Ghuneim’s typology of engagement, a customer who comments on an online organisational initiative measures ‘medium’ on the degree of engagement continuum while a customer who creates content, as in blog about an organisation, brand, product, or service rates as 'highly engaged'.

Hence, the technorati authority can be safely assumed to be indicative of the volume of significantly ENGAGED consumers.The study of CRM could significantly benefit by taking into account the technorati authority of these corporate blogs, to track the volumes of consumer engagement.

Some observations-
1.There is a positive correlation between the reach(percentage of global internet users who visit the site) of a blog(source:Alexa.com) and the Technorati authority of the corporate blog.
2.There is a positive correlation between the Technorati authority of a corporate blog and the volume of Consumer Generated Media(source : Blogpulse).

Engagement refers to the creation of experiences that allow companies to build deeper, more meaningful and sustainable interactions between the company and its customers and appears to be the first step for any corporate towards building consumer loyalty, satisfaction, involvement and evangelism. Social media sure seems to provide a way.

Sneak preview of my AOC'08 chapter

My Age of Conversation'08 chapter is titled 'Interactivity in the digital age' and talks about the characteristics of interactivity and how important certain interactive features are in building brand equity and consumer engagement through online tools.
Wait for August'08 to read the complete chapter!!!

Corporate Blogging Series II: Blogging and the Brand

Perusing through several corporate blogs to understand the objectives behind their existence, customer aquisition and retention appear important thoughts behind the strategic management decision to host the same.

To promote Customer Acquisition by building brand equity by
a)Showcasing organisational growth
b)Clarifying organisational vision, opinion and direction for consumers,
c)Image Building and
d)Brand Building

Acquisition is a vital stage and a focused and contextual interaction with the customers is beneficial to any organization for furthering it's brand. A corporate blog helps create a forum for open and integrated channels of communication between brand and consumer by enabling interactivity between brand and consumer.

Blogging is fast becoming an extremely important strategy for any online marketer.Research shows that organisations after having commenced blogging have climbed up the Alexa traffic rankings. As news articles about a relevant industry, product updates, interviews, insights into topics of importance to the target audience emerge on the blog, they create a subscriber base, the way people subscribe to the daily newspaper. This way regular updates on products, features etc. can reach the niche consumer base at a fast speed. Good quality relevant content, constant updation and creation of a blog environment where ideas flourish and debates on related topics keep people from the target market coming back is what works for these organisations

People who read organizational blogs perceive an organization's relational maintenance strategies as demonstrating more of a conversational human voice than those who read only the organization's traditional Web content or those in a control group who read Web content unrelated to the organization(Kellehar,Miller,2006)

The CISCO Blog is an open discussion forum where Cisco leaders address key technology issues and where community interaction is encouraged. By hosting a blog with the above viewpoint CISCO first built an image of the company as an authority in technology and developed a community to share its ideas.After developing a dignified readership base, by posting entries like “Patent Board: CISCO is #1 Leader in Telecom”, Cisco has managed to create an image of a highly competitive company which is centre-of-the business-universe telecommunications. Also, by featuring excellent reviews from the Fortune, Wired and Financial Times, CISCO has done well to use its blog effectively towards brand promotion!

The corporate blog of Tata Interactive Systems(TIS), gives a peek into the work being done and products being launched by TIS for learning disabilities of children with special educational needs, by showcasing the Tata Learning Disability Forum, Also, by hosting a category 'Life at TIS', TIS shares its organisational culture with the world.

Corporate Social Responsibility Blogs , like those of Mc Donald's and Hewlett Packard are fast catching on. With Mc Donald's discussing issues closer to health, nutrition and food safety , this endeavour contributes to an image building exercise, as a company valuing quality of food provided to the consumers. This is a good effort for a company which has faced a lot of criticism towards promoting unhealthy food habits.

From the perspective of Jonathan Schwartz, the CEO of Sun Microsystems, blogging is not an appendage to Sun’s marketing communications strategy today-it is central to it. Blogs have authenticated the Sun brand more than any typical advertising campaign and associated with Sun a respectable degree of tenacity and authenticity.