Category: Ideas

The Best Social Networking tools

Posted on by Steve Sammartino

We often wonder which are the best social networking tools to promote our business. In many ways it’s all and none.

There’s no shortage from which we can shoose from a business perspective: My space, Facebook, Bebo, Youtube, Blogging, Twitter, Live streaming TV, Ranking sites like Technorati, delicious and Stumbleupon, Virtual world spaces like second life.

The list is endless. In fact wikipedia lists the most notable (well over 100) here.

The best ones to engage and use aren’t those necessarily with the most people, the most features or the most anything. The best ones to use are those which you use properly. The way in which they were intended. There’s no point having your brand or startup on any of them – unless you engage the crowd in the conversation ‘they want to have”.

What does this mean?

It means be there often – turn up, and talk.

It means listen to them – it’s their place not ours.

It means share the information people want to have shared in ‘that’ forum.

It means, give first to them, and expect nothing back.

It means learn from their wisdom.

It means show your personaility and have an opinion.

It means create value to them, whatever value means in that forum.

It means be part of a dialogue, not a monologue.

In real terms all these tools are, is a personification of yourself, startup or brand. Don’t engage in behavior you wouldn’t engage in while in the real world. We mustn’t act like an Amway Sales Agents on line. If it’s bad form in the real world, it’s bad form in the on-line world.

If we just put our brand on all of these spaces and don’t get involved – it’s a waste of time for all parties involved. We are much better off embracing one or two forums and using them often and consistently. Going there, isn’t the same as being there. They are not shortcuts to brand fame. In fact, they take longer, but can be of greater value.

Given that the web is a conversation – we must embrace it and have manners. If we’re patient it’s worth the effort.

Helping others vs Social networking

Posted on by Steve Sammartino

Here’s a nice little insight by from Seth Godin on the truth about networking.

[youtube=http://au.youtube.com/watch?v=OujgPgNCLvk]

In short it’s about helping others. It’s about the quality and value you provide them – not the number of people you know.

Dig the glasses Seth…

UGC & Crowd Sourcing – Beware the Homer mobile

Posted on by Steve Sammartino

There is plenty of buzz around UGC (User Generated Content), Crowd Sourcing and Mass Customization at the moment. And the truth is I am a sucker for it. I embrace it, love it and really believe it is an economic revolution. In fact many of the new features we’ve implemented on rentoid have been at the suggestions of our members…. but there is a downside.

We need to be aware that not every consumer knows what they are talking about, and not every idea we get from the crowd happens to be a good one. The crowd can get it wrong occasionally. Yep – there are people out there with ideas that just might send you broke if implemented.

If we are building a forum for people to create & share their own stuff on like Youtube or Etsy – that’s when it’s a cool idea to let the crowd take over. That’s when it’s cool to build the forum and get the hell out of the way. But when it comes to them designing and creating products for others – we need to keep our heads. In fact if there is one piece of advice startup blog can give is know which business you are in:

A) Are you building a forum for them to connect on?

or

B) Are you building a product for them – with their input?

If you are doing the latter – that’s when you need to be wary of the Homer mobile.

Instead, what we need to do when we want the crowds input is look to our “lead user group”. The lead user group is our base of fans who are knowledgeable, expert, style leaders or simply influential. These are the people we need to listen to when UGC is part of the mix, but not the whole story.

Trick Pricing

Posted on by Steve Sammartino

We are smart people.

We don’t get duped very often.

We know a scam when you see when.

We’re even smart enough to know that $9.95 is really $10.00

So why would we treat our customers in such a condescending manner. Do we really think that any of our customers won’t be smart enough to know this?

Now that we have answered this question let’s ask ourselves why you would ever engage in such trick pricing for our customers.

At last, we’re entering the age of ‘authentic capitalism’, and $0.99 cents isn’t fooling anyone. In fact, you’re quite possibly embarrassing yourself on a commercial level and damaging your brand or start up. The threshold price point is the biggest hoax in consumer marketing. My suggestion, is to have honest pricing.  Charge to the dollar. Make it simple and gain respect simultaneously. Our customers won’t mind, really.

Who wants a pocket full of change anyway?

Trophy Ideas

Posted on by Steve Sammartino

Trophy Ideas shouldn’t be your first attempt at a start up.

Definition: Highly original and ‘expensive’ business concept which could change the behaviour of consumers, business or the world and make you rich in the process.

Trophy ideas are typically capital intensive and have long lead times to get up. They usually involve external capital. They’re often the domain of inventors. The reason that trophy ideas are onerous is that they don’t succeed very often and they take up the two most valuable tools we have, time and money, and lots of it. Sometimes people dedicate large portions of their life to trophy ideas. But we only ever here about the successful ones. An example might be the Dyson vacuum.

Here’s some startup blog advice if you want to go for a trophy idea. Do it after you’ve had some smaller successes first. Do it when you already have passive cash flow from another startup, business or investments. We should all pursue things that are worth doing, the trick is knowing the right time to chase them.

Territory

Posted on by Steve Sammartino

I just saw a stray cat enter our backyard much to the distain of our moggy. You know what happened…

There was a lot of hissing, a couple of left jabs with claws out, bushy tails and the obligatory chase up over the back fence.

Territory is about physical space, location, proximity to food, water and shelter. The basics which sustain life. Our cat was simply protecting what it needs to survive. Humans do it too. And so should your business or startup.

Cats are pretty smart. They know that there isn’t really enough room for two in most houses. It’s no different with brands. Great brands are always territorial. When the local alley cat turns up for a feed, the incumbent brand wont move to the left and share the food bowl. There’ll be fight, every time.

But the trick is this, brands are only territorial about their house (read here key distribution point). If you’re getting a great feed elsewhere, they won’t even notice. You can build some momentum and cashflow before they notice you’re gaining size and power. If you want to get off the street like your local alley cat, stop living day to day, then you and your startup have to find a new place without a cat. Be nice to the owners (your customers / audience), offer them something emotional and they might just adopt you.

Empirical evidence

Posted on by Steve Sammartino

By the time an insight is empirical, measured and proven, it is no longer an insight.

Here’s how startup blog defines the term Insight as it pertains to marketing:

A revelation of consumer understanding, which is not currently being leveraged for profit.

It needs to be a revelation to be an insight. If we are leveraging… “The insight of…” – that is the insight everyone agrees on and knows about, we’ll just be swimming in competitive soup.