Blog,Internet

Collaboration and crowdsourcing are the realities of today’s public Internet, and the trend is now gaining real traction in the workplace. Smart companies increasingly understand that their richest source of insight, ideas, data, and information is within their own employees. They are the ones whose talent, work, and daily interactions with the product make the business what it is.

I found this article on Mashable and found it extremely interesting. From personal experience we use social media to make better, more educated business decisions. Enjoy!

business network image

Collaboration and crowdsourcing are the realities of today’s public Internet, and the trend is now gaining real traction in the workplace.  Smart companies increasingly understand that their richest source of insight, ideas, data, and information is within their own employees. They are the ones whose talent, work, and daily interactions with the product make the business what it is.

Just as so many of us look to the Yelp community to figure out where to make our dinner reservations, companies are increasingly looking to the employee crowd for the knowledge and insight to make better business decisions.


Enterprise Social Networks


salesforce chatter image

“If only HP knew what HP knows, we would be three times more productive.” – Lew Platt, Former CEO of HP

As the social enterprise builds momentum, the big question is: How will companies effectively tap the employee crowd to become more productive?

Enterprise social networks arm companies with social media functionality, allowing them to collaborate with their employees around up-to-the-minute information. Late last year, Salesforce stirred up some buzz around enterprise social networking with the announcement of its Chatter Collaboration Platform.  Currently in beta, Chatter aims to bring together elements of Facebook, Twitter and other real-time services. By integrating profiles, feeds and groups across its platform, Salesforce offers its end users the same functionality they already use to share ideas and information on public social networks.

While social networking functionality excels at connecting teams around projects, information, and qualitative data, it falls short in its ability to drive quantitative, actionable insights — the holy grail for project managers and enterprise forecasting groups.


Prediction Markets


Prediction markets are all about tapping the crowd to source hard, unbiased quantitative metrics about the future of projects and business initiatives.  A prediction market works like a stock market of sorts, allowing employees to anonymously place “bets” on key forecasts: When will the product really ship? How much will we sell in Q1? Will our competitor enter the market in 2010? And so forth.

Business leaders rely on metrics and data to inform decisions around new products and opportunities, but traditional forecasting methods suffer from bias and lack of first-hand information. That’s why business forecasting is an ideal target for the application of crowd wisdom.  While bets are made anonymously, some prediction market software applications have built-in reward systems for accurate forecasters. And the accuracy of prediction markets over traditional forecasting methods is proven again and again.


Crowdsourcing the Next Big Idea


My Starbucks Idea Image

There’s a good chance that a company’s next big idea could be hidden within the people who are most engaged with its product and brand. More companies are turning to the crowd for ideas on all aspects of their business by creating online public forums. In 2008, Starbucks launched a major initiative to enhance their services with a website called My Starbucks Idea that polls members on decisions that would most directly impact them.

This kind of innovation sourcing applies to the enterprise as well.  Companies like Brightidea and InnoCentive are helping their customers tap resources to inspire, gather, and manage ideas and innovation from within their employee ranks.


The Future


As collaborative technologies gain traction, the future of enterprise will include internal social networks, prediction markets, and idea management platforms.  In this vision, social networks will be the default location for a collaborative employee community. Think of it as a wide and deep pool of employee knowledge and ideas.

Prediction markets will then aggregate this knowledge to produce actionable, people-powered forecasts. The result is an ultra-rich information source that will lay the foundation for smarter, better-informed company decisions. We are already seeing the first movement towards this integrated vision with products like 12sprints from SAP.

The ability to manage and profit from employee knowledge through social networks, idea funnels, and prediction markets will be the defining competitive advantage for this decade.  Employees will have a voice and enterprises will truly leverage their most valuable assets.




Blog,Internet

Fortune 500 companies got into the Twittering act in a big way last year, according to a study released by the Society for New Communications Research. Thirty-five percent of Fortune 500 corporations had an active Twitter account as of last year (i.e., one with a post within the past 30 days), according to the study.

Fortune 500 companies got into the Twittering act in a big way last year, according to a study released by the Society for New Communications Research.

Thirty-five percent of Fortune 500 corporations had an active Twitter account as of last year (i.e., one with a post within the past 30 days), according to the study.

Among the top 100 companies on the roster, 47 percent had a Twitter account. Twenty-two percent of all Fortune 500 companies had a “public-facing corporate blog,” and more than eight in 10 of those linked directly to a corporate Twitter account.

Four of the top five corporations — Walmart, Chevron, ConocoPhillips and General Electric — “consistently post on their Twitter accounts,” according to the study, titled “The Fortune 500 and Social Media: A Longitudinal Study of Blogging and Twitter Usage by America’s Largest Companies.” (ExxonMobil was the exception.)

In a breakdown by industry, 13 of the Fortune 500 insurance companies had an active Twitter account, making that sector the most likely to tweet. Eleven of the food-related companies used Twitter.

Elsewhere on the new-media front, the study found 19 percent of Fortune 500 corporations using podcasting and 31 percent using video blogging. The rise in podcasting from the previous year was fairly modest (up from 16 percent). But the rise in video blogging was steep (from 21 percent in 2008). The study did not include comparative data from 2008 for companies’ Twitter usage.

The study was conducted by Nora Ganim Barnes, senior fellow and research chair of the Society for New Communications Research (as well as a marketing professor at the University of Massachusetts Dartmouth), and Eric Mattson, CEO of Financial Insite, a Seattle-based research firm. —Mark Dolliver, Adweek




Advertising,Blog,Internet

Being the online marketing guru and social media enthusiast that I am, I’m really looking forward to Monday and Tuesday because it is the nextMEDIA conference in Toronto! I’m looking over the schedule and making my picks of what to attend and there are so many interesting things!

Some highlights for me are:

Making Whuffie

Speaker
Tom Jenkins, Executive Chairman and Chief Strategy Officer – Open Text

Online communities are changing culture, business and the environment of Web 2.0. Join Tara Hunt, a true pioneer in online marketing, blogger at horsepigcow.com and the renowned author of The Whuffie Factor: Using the Power of Social Networks to Build Your Business, a breakthrough book on community marketing. More recently, Fast Company magazine named Tara Hunt one of 2009’s Most Influential Women in Technology. Find out how to master community marketing, avoid alienating newly emerging sensibilities and succeed in the participatory web economy.

Tara Hunt
Hunt

Speaker
Tara Hunt, Author – The Whuffie Factor

Casale Media Workshop
The Transition from Content Producer to Breadwinner – Using Advertising to Monetize Your Content Online

Casale Media In Partnership with:
Casale Media

You had an idea. You turned that idea into content. You put that content up on a website. Now what? How will you translate your up front production efforts into a sustainable business model? How will you finance the everyday operations involved in managing and building on your content base? With advertising, of course! In this workshop, Casale Media’s Alex Gardner will provide you with an introduction to the most widely adopted methods of ad-based online content monetization (including a checklist for assessing your site’s advertiser appeal) and arm you with practical strategies for selecting an ad network best suited to your needs.

    • What are my options for building an advertising-based monetization strategy?
    • How do I assess the advertising revenue potential of my website?
    • What is an ad network and how do I differentiate between the options?
    • How do ad networks work with content producers?
    • What are the benefits and challenges of working with an ad network?

Book this session.

Alex Gardner
Gardner

Speaker
Alex Gardner, Director of Publisher Relations – Casale Media

Keynote
Stop Advertising and Start Socializing

First Maximilian Associates In Partnership with:
First Maximilian Associates

A consumer demanding more for less, buying value and values, and leveraging their social network to make decisions, a retail infrastructure consolidating its power base, looking to their own labels for differentiation, and in turn setting an ever increasing access tax for National Brands, and a media landscape that is cluttered, fragmented and lacking scale presents the perfect storm for organizations. To survive organizations will need to adapt their marketing process, and how they are structured to deploy it. They will move from spending to investing marketing dollars and will need a model that is actionable, measurable and accountable. Marketing budgets will no longer be capped but instead be deployed continuously until they stop generating a return on investment. Our guest speaker, Tony Chapman will delve into such question as:

    • Will Canadian marketing offices survive in this flight to efficiency and global consolidation?
    • Is social media the flavor of the month, or will it become the definitive channel for communication?
    • How will organizations and their agencies have to reorganize to adapt to a faster, better and more efficient model?
    • What role will mobility play in how consumer’s perceptions are shaped, and behavior is motivated?
    • Do you think mass media can survive? If so which ones?
Tony Chapman
Chapman

Speaker
Tony Chapman, Founder and CEO – Capital C

Trendsetting: Digital Youth Uncut

It’s no secret that today’s youth presents a significant opportunity to savvy content producers who understand the lay of this new land. Young people’s use of digital media, from their appetite for free online content to the popularity of videogames, continues to redefine what it means to ‘watch television.’ This presentation will examine the core digital life and media trends in this demographic including an in-depth look at the Millennials, their growing appetite for mobile programming, online video, bite size programming and what this means for content producers. Consider such questions as:

    • Who are the Millenials?
    • What are their content expectations?
    • How do they use different platforms to create their custom content menus?
Kaan Yigit
Yigit

Speaker
Kaan Yigit, Founder and President – Solutions Research Group

TV Reframed
Who Said TV is Anti-Social?

Banff World Television Festival In Partnership with:
Banff World Television Festival

The shared TV experience is returning, in a new form. The typical family room is being replaced by online virtual communities accessed through personal devices. These communities continue to amass millions of more members each week, and as the Internet finally comes to our living rooms with a new generation of devices like Boxee, it’s only a matter of time before television becomes social and social. This workshop will assess the partnership of social media and TV: will social media interactivity bring unique value to TV users?

    • How can you connect TV channels and shows with Facebook, Twitter and Google to engage today’s masses?
    • Will social media interactivity bring unique value for TV users?
    • What does the social media sector offer the TV industry?
    • What social TV apps are available for Integration?
    • Are social networks the new entrant to the video market? Will social networks be a platform for future TV content delivery?
    • What opportunity does this present for targeted advertising and bespoke TV programming?
    • Who will benefit from the parasitical relationship of social media and TV?

Book this session.

Maggie Fox
Fox
Michael Scissons
Scissons
Elmer Sotto
Sotto
Amber MacArthur
MacArthur

Moderator
Amber MacArthur, New Media Journalist – Webnation for DiscoveryChannel.ca and CP24

Speaker
Maggie Fox, Founder and CEO – Social Media Group
Michael Scissons, President & Chief Executive Officer – Syncapse
Elmer Sotto, Head of Growth – Facebook Canada

PWC Workshop
$ Who’s Spending, Who Isn’t – The Next 5 Years in Entertainment and Media

PricewaterhouseCoopers In Partnership with:
PricewaterhouseCoopers

The nextMEDIA master class series includes interactive discussion and hands-on tutorials, uncovering key skills needed by 21st century digital executives. In collaboration with PWC, Michael Paterson will discuss the 2009- 2013 Global Entertainment and Media Outlook, PricewaterhouseCoopers’ independent forecast of spending for the next five years in 12 entertainment and media industry segments. In this data rich presentation you’ll understand how unprecedented economic conditions and technological change will significantly impact prospects in the near term for media companies and may expose long term weaknesses in some traditional media sectors. Book this session.

Michael Paterson
Paterson

Speaker
Michael Paterson, Partner, Canadian Entertainment & Media Practice – PricewaterhouseCoopers LLP

NEW! On Radar…..Companies & Change Agents

Ontario College of Art & Design In Partnership with:
Ontario College of Art & Design

Partner Introduction: Sara Diamond, President

Welcome to nextMEDIA’s On Radar sessions, featuring the companies, gizmos and gadgets that need to be on your radar.

Avner Ronen, CEO & Co-Founder, Boxee
Named one of Rolling Stone’s “Agents of Change” for 2009, Ronen’s Boxee is software that is revolutionizing the way we entertain ourselves online.
Brian Nilles, CEO, Darwin Dimensions
Evolver.com has enabled the world’s population to become Visual Effects Artists and create stunningly beautiful 3D Avatars for use in high growth markets including Social Media, Virtual Worlds, Online Games, others.
Ori Inbar, Co-Founder, Ogmento
Prepare to have your reality reinvented! Ogmento is the driving force behind ground-breaking Augmented Reality (AR) and is already bringing revenue. Learn what AR is and how it’s done.
Chul Lee, Chief Technology Officer, Thoora
Thoora helps people discover the news attracting the most attention within social and traditional media by exploring the entire blogosphere, Twitter and thousands of traditional media sources.
Peter Sweeney, Founder & Chief Technology Officer, Primal Fusion Inc.
Primal Fusion is in the business of blowing minds! Just what is Thought Networking and how is it changing the face of social media?

Brian Nilles
Nilles
Jason Roks
Roks
Ori Inbar
Inbar
Avner Ronen
Ronen
Peter Sweeney
Sweeney

Moderator
Jason Roks, Founder – Zero In Inc.

Participants
Ori Inbar, Co-Founder & CEO – Ogmento
Brian Nilles, CEO – Darwin Dimensions Inc.
Avner Ronen, CEO and Co-Founder – Boxee
Peter Sweeney, Founder & Chief Technology Officer – Primal Fusion Inc.

Keynote
Creating Conversations

Kijiji Canada In Partnership with:
Kijiji Canada

Partner Introduction: Eric Pierni, Head of Advertising

Companies still struggle to understand online marketing as a new generation of digital opportunities unfolds. Consumers have never been so powerful, nor have they ever been so connected. Mitch Joel unravels the fascinating world of New Media. Learn how these marketing touch points are creating conversations in which the results are staggering and loyalty is off the charts. Words like Social Media and Web 2.0 control every boardroom discussion in relation to growing market shares and new marketing opportunities. Learn how to take part in these communities and conversations.

Mitch Joel
Joel

Speaker
Mitch Joel, President – Twist Image

Keynote
Digital Media and the Next Generation Social Web

Canadian Innovation Exchange In Partnership with:
Canadian Innovation Exchange

Partner Introduction: Robert Montgomery, CEO – Achilles Media Ltd. and First Maximilian Associates Inc.

As the Internet evolves, changing consumer behavior is having a direct impact on the types of systems and processes that media and marketing organizations must put in place to successfully reach target audiences. Tape-based workflows are being superseded by file-based workflows. Creative artifacts once deemed extraneous and left unmanaged are becoming critical intellectual property assets. Social networks and modern engagement styles are setting the bar higher for more compelling, immersive user experiences. Non-linear, digital distribution will ultimately characterize the manner in which a majority of media content is disseminated. A population with increasingly-sophisticated mobile devices will connect to a range of media-centric Cloud services, challenging and eventually leading to the obsolescence of many traditional services. Join us as we explore these trends, their implications for media and marketing organizations in the future, and the implied opportunity for digital media.

Tom Jenkins
Jenkins

I’m also looking forward to meeting all of the other people who work in the industry and are working in similar positions to me.




Advertising,Blog,Music

I just got a new digital camera which I am already in love with. It is a simple point and shoot digital camera that also takes HD video! I’ve been looking for a camera for a while and with so many on the market I honestly didn’t know where to begin. Do I want one with various lenses? Do I want one that focuses on video? Do I want to buy both a video camera and a digital camera? The choices are endless. For me the choice became clearer by someone who I never thought would have an influence on my life let alone any decisions that I made in it. That person was Avril Lavigne.

Her commercials have been appearing on TV for a while now featuring these colourful little cameras called “elphs” (an acronym for Electronic Physics). Avril Lavigne is just so cute and her music is so catchy… you can’t help but watch the commercials when they come on TV (or at least I can’t, being a fan of her music). I especially loved the commercialwhere she is going through a trunk of fun clothes trying them all on and taking photos of herself. The latest commercials feature Avril surrounded by a wall of cameras and she finally picks a little red one that also takes HD videos! When I saw this commercial it sealed the deal for me.

I am now the proud owner of a Canon SD780 IS Digital ELPH and I love it! It allows me to take HD videos of my much loved dog Winston.  It will also allow me the ability to create an audio, video and photo blog that I’ve wanted to do for a long time.  So welcome to the first post of my new blog!

This isn’t the first time that Canon has enticed me with their advertising. You’ll all remember the Anna Kournikova commercials featuring the tennis star taking photos of her ‘oh so adourable’ long haired Chihuahua. That almost got me to buy the camera… almost – although I still fully intend to create my “wall of Winston” featuring Winston in various poses, surroundings and enjoying life. 🙂

This leads me to my question – how influenced by advertising are you? I have to say that I am very influenced by advertising. In this vast marketplace in which we live none of us have the time to research every single product we buy.. so for me advertising lets me know what is new in the marketplace and helps me to make a decision on what to buy. Am I alone? Somehow I don’t think so. If a company like Canon can afford spokespeople like Avril Lavigne and Anna Kournikova to help make my decision on what camera to buy a little easier, then I can say with some certainty that I am definitely not alone.

Another purchase I have made recently based solely on advertising – Covergirl Eyelights Mascara. Who wouldn’t want a mascara that brightens your eye colour? Especially for all of those photos I’m going to be taking with my new digital Elph camera! That Wall of Winston is only a few more clicks away!

To celebrate (and to say thank you for the gift of my beautiful camera)… Kenny and I went out for dinner!




AUTHOR

  • profileLisa Bassett is a Digital Marketing and Social Media professional from Toronto, Canada.