Steal this Product Idea: Sign.al

We are overloaded with information.  During the course of my day I email, tweet, comment, post, chat, message, buzz, check in, call, sms, mms, bbm and sometimes (if I’m really lucky) actually talk to people.  We are moving towards an ever increasing flood of content (much of it automated) and it’s only gettin’ worse.  One day soon everything will tweet.

It’s not the the sheer quantity of information that’s the problem (faster flow of information will only help people achieve more), it’s how we send and receive it:

  • Sending: How do I send out information so that it reaches it’s intended audience only.  In the upcoming era of persistent, public online identity, how do I can still share my green-beer, toga party pictures with my friends and make sure potential clients don’t see it?  Additionally, I want to publicize my boring social media posts without spamming my friends who I know really, really don’t care.
  • Receiving: With all this content around how do I make sure that that important stuff gets to me FAST, while the stuff that matters stays buried (until I get really bored or have lots of time to look through it).

The idea that’s been bouncin’ around my head tries to address the second point… enter: sign.al.

I have a dream… that one day my phone will ring when my buddy is callin’ me up to go grab a beer, while calls from vodafone bill collectors stay silent.  That my blackberry will only flash in meetings only when really really important stuff happens (like the Mets scoring a winning run).  That one day, we’ll be able to ignore the tens, hundereds or thousands of messages that don’t matter, and focus our attentions on the ones that do. Here’s how sign.al would work

  • You give it all your account information (gmail, facebook, twitter, etc…)
  • It starts off like any aggregator (Seesmic for instance), showing you a timeline of emails, facebook messages, tweets, yadda yadda:

  • Aright, now’s where it starts getting cool… after a little while, it moves away from a timeline view, to a priority view.  It starts guessing knowing what you are most likely gonna want to read and respond to and starts moving those to the top.  This shift is already happening (FB news feed vs time line, Mozilla Raindrop, Xobni for Bberry)
  • Sign.al can know what’s important by:
    • Frequency – How regularly you read and respond to individuals
    • Speed – Of your read/response
    • Popularity – The number of comments, retweets, likes, and mentions
    • Proximity – Number of shared connections
    • Medium – @mentions more weightage the email cc’s?
    • Geolocation – Are messages from Mumbai and NYC more important to me?
    • Time of day – Are certain types of messages more important at a certain time?
    • Content – Am I more likely to be interested in content about the Jets regardless of where, when, how it’s getting to me? (yes)
    • Recency – Moving away from this but still a factor
  • Phase 2 – Phone app
    • Incorporating voice and SMS into the mix of content to prioritize
    • Different types of notifications instead of timeline: ring for an important sms, vibrate for a somewhat important @mention, silent for a newsletter.
  • Phase 3 – Setting status (implicitly?): In a meeting, driving, out to lunch, available – Based on this reduce/amplify notification methods.  If I’m sitting at the airport bored and normally my phone vibrates for an important tweet, now ring.
  • Phase 4 – Anticipate – Based on where I am, the type of message, who I’m connecting with, the medium, the format etc… start anticipating how I may respond to them (in a totally not creepy big brotherish way)

Ideas are a dime a dozen, execution’s what matters.  Take this idea, build it, I’ll use it and be happy (just be forewarned you need to legal operations in Albania to actually register the sign.al domain name :p ).

quick update: my buddy Aditya actually wants to make this happen… check out his blog for more info.

B2B Social Media Marketing

Many people question the value of social media for B2B companies.  I recently gave two sessions trying to answer these questions:

  • Why/How do B2B companies engage in social media?
  • What should companies listen to on the social web and how?
  • What type of content should your company be generating?
  • What is social search and how does it effect marketing?
  • What are first steps businesses can take to start participating in the social web?

My main points are as follows:

  • Social media can be used to achieve many of your business objectives (generating awareness, capturing leads, sales, recruitment, etc…).
  • The main opportunity for social media in B2B organizations is establishing yourself as a thought leader.
  • Create content that appeals to a wider audience then just your current customers.
  • Become a destination for anyone looking to learn more about the industry.
  • We’re moving away from static search toward recommendations.
  • It is critical to have conversations going on about your company.

Video and Slides below:


B2B Social Media Usage from Amit Klein on Vimeo.




Game Changer: Why Google bought Aardvark for $50 million

As confirmed by TechCrunch, Google today announced that they’ve bough Aardvark for $50 million – brilliant move by the Goog. I’ll get to the why after a little background.

Google still dominates the most lucrative percentage of marketing dollars spent on the web:

But recently they seem scared. Google is a one trick pony, with the Adwords serving as their main source of revenue. They’ve tried over and over to replicat it’s success but have failed miserably with Youtube, Dodgeball, Jaiku, Lively, Orkut and Wave. I visited Google’s New York offices in Jan 2007. The most memorable moment (besides the organic salmon burgers in the cafeteria) was when one of the engineers said that Google was the only site in the world, whose goal was to minimize time spent on it. At the time I was blown away – “Give the people what they want.”

Fast forward to today – for most searches related to products, services or experiential recommendations – Google fails:

googfail

People no longer trust the anonymous, SEO optimized, affiliate marketing driven, possibly automated, blog post. The next web is built on relationship driven, public, recommendations. Google’s biggest threat is not another search engine, but a change to the underlying way that people search. Enter Facebook and Twitter. I no longer search for news, it finds me (goodbye RSS).  It’s no surprise Google has made numerous plays at Twitter and FB has changed it’s whole strategy because of Twitter. They are all fighting for the same role, to be the underlying real-time, social operating system on the web.

Eyeballs and CPM ads are finally being replaced by microtransactions and quantified actions. Subscriptions are the new black. G used to be the gateway to the web.  Now, more sites are reporting an increasing trend of quality traffic from Twitter and FB.  The top brass at Google knows that social is critical.

Purchasing Aardvark is a brilliant (third or fourth) play into the social arena. With Buzz just released, Google now has a captive audience of 176mil (in Gmail) to test, position and improve social search (before it’s too late).  People don’t want to be sold to, but will gladly buy products based on recommendations by people they trust.  The line between advertising and content is blurring.  The key is being able to monitize recommendations (companies would gladly pay 2% of a product’s price for a sale).

What will be interesting to see is if either Facebook, Twitter or Google is able to do it alone (doubtful – but maybe FB), whether some big-time M&A will happen (Goog buys Twitter), or whether they will be forced to open up to each other, each find their respective niches, and continue to compete on the fringe (likely).   What do you think, with Buzz + Aardvark will they be able to achieve monetizable, real-time, social search before FB and Twitter?

Google's Biggest Competitor isn't another Search Engine

There’s no doubt that Google Search is a great product, but aside from some cosmetic changes in how results are displayed there hasn’t been any major innovation in search in the last few years (aright, Goggles is pretty awesome):

There are a number of questions which Google fails to answer:

  • “where’s the best bagel in new york?”
  • “what’s a cheap, clean, centrally located hotel in bangkok”
  • “which DSLR camera should I buy?”

In the cases above, you’re most likely to get SEO-optimized aggregator/review site whose primary motivation is affiliate sales.  And forget about finding anything usable to:

  • “what’s everyone up to this weekend?”
  • “should I get a tattoo?”
  • “is business school right for me”

Increasingly, I turn to Twitter and Facebook for these types of questions:

dslr2

twitterdslr6

Aardvark is another really nice product that tries to answer these experiential/recommendation type of questions.  It’s easy to use (via a chat bot) and gets quick and solid responses.  The same question got me three responses within 10 min (here’s two):

  • (From Rakesh R./24/M/Arlington,US, Re: **cameras**
    go for canon 50D with a kit lens to start with . Your body is excellent but lens is OK types. u can always improve on ur lens whne u know what u needhttp://vark.com/z/b41bf (Amazon: Canon EOS 50D)
  • (From Sam A./M/Dubai,UnitedArabEmirates, Re: **cameras**
    Well the best bet would be to start looking at the more popular brands:
    Canon and Nikon. Some people also swear by Olympus and Leica (the latter
    being seriously expensive), and even Sony. I’d stay away from Sony because
    cameras is not their real bread and butter (though I have read some good
    reviews regarding their Alpha series). Now I wouldn’t recommend sticking to
    the popular brands because they’re better or provide the best value for
    money, but rather for things beyond that: availability of accessories,
    lenses, repair options, etc. I personally just purchased a Canon D7 and it’s
    a really great camera. Though a little on the pricey side, it provides great
    value for money. Things like high continuous shooting rate, HD video, etc.
    This site helps you actually buy one: http://reviews.cnet.com/dslr-buying-guide/

    This website will be really helpful in doing some comparisons: http://snapsort.com/
    Enjoy!

Imagine if I could aggregate this data, slice and dice according to my tastes (i.e. 2nd degree relationships within NYC who have bought a camera in the last 6 weeks), compare prices and actually buy this thing from a single application?  This is a game changer that could be a devastating blow to Google SEM and forever change the way we buy products and services (though Google’s smart and they’re workin’ on it) . Facebook ::nudge nudge wink wink:: I’m lookin’ at you…

My favorite quote from the excellent video by @equalman (posted below) is:

We no longer search for the news, the news finds us…
In the near future we will no longer search for products and services they will find us

Increasingly though, it’s not just individuals who will be turning to social tools to answer tough questions:

There’s a new tool that can help companies predict sales for the coming weeks, or decide whether to increase inventories or put items on sale in certain stores.

It’s Twitter.

~ MIT Sloan

Social data from Facebook, Twitter and the like combined with traditional CRMs will allow you to keep track of buzz, transactions and brand loyalty/sentiment, letting you answer questions like:

  • What are people saying about my product right now?
  • How has the perception of my brand changed recently and in what direction is it trending?
  • Geographically where is my biggest, rapidly emerging and diminishing customers?
  • Who are my biggest evangelists, in what demographic do they fall in, where are they located?
  • Who are my biggest naysayers, how can I change their perception?
  • What is the perception of my product vs. my competitors?
  • What product features do my (potential) customers want?
  • Where is my next potential biggest growth market?
  • What are the trending (in both directions) topics in my industry?

Social CRM is totally hot right now and an important trend to watch this year:


Everyone’s talking… are you listening?

Eating our own Dogfood in Marketing 2.0 Class

Social Media and Web 2.0 is all about the collaborative, bidirectional flow of information.  It’s no longer a brand, company or authority figure dictating the rules.  As part of the course I’m teaching at NMIMS and ISB, I’m trying to apply the same principals and ask the students to help shape the class.   Here are some examples of what we are doin’:

  • We have a fairly active Google Wave which covers the course goals and meeting notes.  Students are free to edit the course outline, ask questions and suggest topics for future classes (please note you must be logged in to Google for this to work… the embed API is also fairly new – i.e. buggy):

[wave id="googlewave.com!w%252BjWA1cBmJA"]

  • We have a few really awesome guest speakers including:
  • Rather then a preassigned reading list, the students are being asked to share a few links weekly with each other via Twitter and Wave.
  • Students can ask questions/make suggestions/provide their own examples (via twitter and wave) during the class.
  • The students will be partnering with a local NGO to raise awareness or solicit donations for a social cause using social media and an SEM campaign (hopefully Yahoo! and Google will come through and donate some ad credits).  These projects will be posted publicly.

Other things I could be/should be doing:

  • Posting the course outline (as a wave) and inviting everyone whose registered for the ISB course to make their edits/suggestions (for topics or speakers)/questions/modifications prior to the start of the course.
  • Reaching out to students in these universities ahead of time (via Twitter) to build some hype and make sure the class is filled up.

Anyone else have any ideas on how to make the course better?  Let me know…

Smart + Hard Working + Charismatic = Crazy Successful

There’s the old project management saying: good, cheap and fast… pick two.

In the business world I’ve noticed that three characteristics generally determine success: smart, hard working and charismatic. Sure, the definition of success widely varies but for the purposes of this post, I’ll define it as, “the ability to achieve lofty goals.”

If you have one of these characteristics above you can get by fairly well. The smart, lazy, boring gal who manages to muddle away at her corporate job, she’s doin’ alright.

If you’ve got two of the above characteristics you are in the top quartile of successful people.  The dogged, friendly sales guy is makin’ it rain but won’t get to CEO.

But the ladies and gents who really crush it, are the ones who are intelligent, relentless and likable. While smarts can’t generally be picked up, the other two can be cultivated.  Work harder then everyone else, make sure you genuinely care about the people you work with (never sacrifice relationships for individuals project deliverables) and you’ll get to where you wanna be.

Intro to Social Media Videos

Last week I gave two sessions on Social Media Marketing at SPJain. Videos and slides below… let me know what you think:


Intro to Social Media – Part 1 – SP Jain – Dec 09 from Amit Klein on Vimeo.



Intro to Social Media – Part 2 – SP Jain – Dec 09 from Amit Klein on Vimeo.


Introduction to Paid Online Advertising

This past weekend I gave my first two lectures at SPJain on paid online marketing.  I thought it went pretty well, the students seemed really engaged and interested in the material.  The slides, course outline and videos are posted below.  I’ve also agreed to do a 6 week course at another business school: NMIMS (more or less following this outline), if anyone has any ideas on how to improve this session or the course outline, please let me know.

Video:

The videos from the actual lecture didn’t come out to well (you can see them here and here).  Below is the same session I gave to our team internally:


Intro to Paid Online Marketing – Directi from Amit Klein on Vimeo.

Slides:

Course Outline:

Prior Reading:

Introduction
iTunes Case Study – You are the marketing manager responsible for launching the iTunes Store in India
- What are your objectives?
- How do you go about achieving those objectives?
Goals:
- Discuss branding vs. performance objectives
- Discuss differences between online and offline marketing (targeting, measurement, reach)
- Discuss the marketing funnel (Awareness, Consideration, Conversion, Loyalty, Advocacy)
- Review options for online advertising in relationship to the funnel
Review terminology:
- Impression, CPM, CPC, CPA/L/S, Goal, Conversion, CTR

Methods of Online Advertising
Search Engine Marketing (SEM) – Google Adwords Example
- How does Google determine which ads to display to users? Keyword, bid, location, quality score / relevance (clickthrough)
- Why are the bulk of most ad budgets allocated to SEM http://mashable.com/2009/07/08/social-media-marketing-growth/#mb – intent
Ads on Social Networks – Facebook Ads
- Targeting based on demographics
Ad networks – Right Media Exchange
- What is the advantage of purchasing an ad on an network rather then directly on a site itself – Non-premium, performance based, auction, reach
Affiliate Sales – Amazon
- Description of the affiliate model
Email Marketing – Email Brain
- Review analytics for email marketing
- Discuss limitations on reach

Revisit iTunes Case Study
How can you determine effectiveness of online marketing campaigns?
- Demonstrate eCPM / eCPA calcualtions
- Link online marketing metrics to sales

Ask students to come up with a marketing plan
- Split class into branding vs. performance
- Determine goals and budget allocation based on historical results

Measurement and Course Correction
Demonstrate Google Analytics
- Show ecommerce analytics
- Glean insights, create hypothesis based on analytics data (i.e. per visit value of certain states are high, let’s see if additional marketing – online or offline – will help us generate more sale with less spend)
Course Correction
- 3 slides for creative, source and keyword performance
- Discuss actively managing campaigns and getting rid of underperforming ads, sources, keywords

Want to be a billion dollar company? Get 28mil users


Business models on the web are undergoing a massive transformation. Originally mimicking the print industry (advertising revenues based on circulation numbers), we are now only beginning to explore real value adding, revenue generating opportunities which leverage the real-time, social, location-aware, collaborative nature of the web. While there are companies who are strategically concerned with building a profitable enterprise from the getgo (like 37signals, Zynga), there are many others who are concerned with building great products, attracting a huge user base and figuring out the home-run revenue streams later (most notably: Google, FB, Twitter).

There’s a ton of factors that come into play when choosing which route to take (do you have money? can you take the risk? are there obvious monetization opportunities now? by forgoing these are you putting yourself in a better position to capitalize on larger opportunities down the road?), but let’s assume for a sec you are in the user base game. How many user’s do you need to actually make some money. Here’s some back of the envelope stats (please take these with a grain of salt, some numbers here are estimates):

Site Valuation Number of Users Revenue Revenue per user per year Valuation per user
MySpace Bought for $580mil (2005) 100mil $200mil (2006) $2 $5.80
Facebook $10bil as per latest investment (2009) 300mil $300mil (2008 estimate) $1 $33.3
Twitter $1bil as per latest investment (2009) 9.8mil (unique monthly 2008) 0-not that significant $0 100/(9.8*12)=$8.50
YouTube Bought for $1.65bil (2006) 20mil (2006) $0 $0 $86
SNAP – Facebook App Maker Public Company Market Cap: $10mil (2008) 5.5mil $1.75mil (2008) $.28 $1.81
Google Public Company Market Cap: $173.57bil (2009) 144.293mil (unique monthly 2008) $21.795bil (2008) $12.58 1723570/(144.3*12) = $100.23
Yahoo Public Company Market Cap: $23.42bil (2009) 141.956mil (unique monthly 2008) $7.208bil (2008) $4.23 23420/(141.9*12) = $13.75


Some Observations:

  • There’s a big difference between market cap, investment round valuation and acquisition price, for the purposes of this exercise I combined them. There’s also a difference between registered users, active users, monthly unique visitors, etc… I needed someway to make comparisons, I’m smushing stuff up to draw comparisons.
  • I should probably add a few more companies like Skype, Paypal, eBay, Amazon, etc… to make this less search and social network focused.
  • Google crushes it $12/user/year damn dude…
  • YouTube founders are extremely lucky to get that kind of exit
  • Valuations and revenues don’t seem to be related (surprise)
  • Across all these companies the average revenue per user is: $2.87 and average valuation per user is: $35.62. Want to be a billion dollar company? You’ll need approximately 28mil users (I’m kidding… sort of)

What do you think? Is it better to play the userbase game or find ways to monetize immediately? Any way to make the above numbers more accurate? Any other conclusions you can draw from this data? Would love to hear from you…

Resources used:

http://www.comscore.com/Press_Events/Press_Releases/2008/10/Top_50_US_Internet_Sites
http://yhoo.client.shareholder.com/annuals.cfm
http://www.techcrunch.com/2009/04/15/boom-twitter-more-than-doubles-unique-visitors-to-93-million-in-march/
http://www.facebook.com/press/info.php?statistics
http://investor.google.com/fin_data.html
http://www.investorplace.com/experts/douglas_mcintyre/articles/twitter-facebook-myspace-value.html
http://blogs.zdnet.com/micro-markets/?p=283
http://mashable.com/2008/01/16/snap-interactive/
http://247wallst.com/2007/02/16/googles_revenue/

bahut hi jaldi / too soon

ive been meaning to write another one of these for a while, due to the raging success of my last poem. special thank you to my editors/roomates manoj and general briggs.

bahut hi jaldi

woh baag mein beti thi
jawab ki inthezar mein
“mere bina mat jao”

woh thokar khaya
dheere se hasaa
“mujhe dosh na do”

usne fal kha li thi
woh chai pee liya tha
khoobsurat… andha… krodh

translation:

too soon

she was siting in the garden
waiting for an answer
“dont go without me”

he stumbles
laughing softly
“do not blame me”

she ate the fruit
he drank the tea
beautiful… blind… anger