Archive for the 'Conversation' Category

The Business Value of Social Gestures Online

Social Gestures

So much of what drives social media platforms such as Twitter and Facebook basically comes down to social gestures by people who want to connect with others, or add value to something bigger than themselves. From product reviews to wiki edits, millions of people are benefitting from this mass of small social gestures online.

It’s interesting for businesses to note that massively complex systems and information empires can be driven by something other than money. Very few social media sites pay people to participate. People use online platforms to build relationships and contribute to communities. Essentially this is a new form of economic production beyond the two classic pillars of economics, the firm and the market. Yochai Benkler calls it “Peer Production”.

I’ve noticed that my social gestures over the years – blogging, chatting, uploading, editing – have accumulated into a kind of Social Equity. The result is more exposure, higher trust, more business, and ultimately financial reward.
Thus each social gesture becomes an investment.

Many businesses are already benefitting from the social equity of their employees. I think it’s important for businesses to recognize these people within their ranks and enable them to continue rather than shutting them down.

Stokvel Brand Building

nvohk bannerI thought of this concept when my friend Tim emailed me about nvohk  (pronounced “envoke”), a crowdfunding and branding initiative applied to clothing.

In theory it’s a great idea – 30 000 people each put forward $50 for a year’s membership in nvohk inc. For their $50 they get a “founders t-shirt”, get to vote on stuff like logo design and advertising decisions, get discounts on nvohk t-shirts, and split 35% of the profits between them. It works for the company because each t-shirt owner then has a vested interest in helping the brand succeed, and passing on work of its success.

Where I think the company could improve its offering is to start connecting members and create an online space, like a Ning social network, for them to discuss their investment in public with each other and the project founder, Brendan Lynch. This would increase trust and interest, and make it a bit more like the original concept, a proven success model, on which I believe it was based (probably unknowingly) – the South African Stokvel.

Stokvels, according to The Beehive, “…have been around in South Africa for many years. They are a good way for people to help motivate each other to save, and many stokvel or savings clubs are like social clubs where members also help each other in ways other than with money. Regular stokvel meetings have become a social highlight in many communities”.

The internet can allow ad-hoc communities to form around virtually anything – the initial social object could be saving money, but then extend as people seek other ways to connect with and help each other. In the business case, such as with nvohk (or to quote a more familiar South African example, Verity), I believe that the investors want the project to succeed, and some of them would have at least enough interest in it to want to chat with other investors with the same interest via a convenient virtual platfrom like the official website of the project.

I think the concept of the digital stokvel has great potential to be applied to brand campaigns. Watch this space for more case studies to come.

Stairway to Brand Heaven or Hell

Logic + Emotion’s David Armano is brilliant at producing marketing and social-media concept visuals. This one clearly captures some of the most important steps to brand loyalty (Heaven), or disloyalty (Hell):

Stairway to Brand Heaven or Hell

Do you more often find your news via Social-Media, or Traditional News Sites

I find that as I have less time to spend browing the web generally, that I tend to find my news more via social filters like Muti, communities like Twitter (where people in my network recommend links directly), or by directly searching for a news on a particular topic on Google.

I thought I’d check whether my peers, also media neophytes, are accessing their news in a similar way. So I asked this question on Twitter:

“Do you more often find your “news” via 1. Social-Media, or 2. Traditional News Sites?”

Glen Meyburgh pevideoguy @daveduarte 50/50

Andrew Smith sqroot @DaveDuarte mostly Social-Media, unless I’ve heard a headline and I want to find out more, then I go to a news site.

Amabacha Amabacha @DaveDuarte Combo of both – Google Reader works overtime! 

Catherine Jenkin cathjenkin @DaveDuarte social media hey. it used to be traditional news sites but now, over the past say, a year, it’s been more social-media dependent

robinpietersen robinpietersen @DaveDuarte 30% traditional, 60% social media and 10% word of mouth :-)

Ismail Dhorat ismaild @DaveDuarte rss, twitter and social media 

KerryHaggard KerryHaggard @DaveDuarte traditional news sites

Marcel_Perform Marcel_Perform Icon_red_lock @daveduarte what if you’re trying to avoid all news? I can’t on twitter! 

Simon Dingle simondingle @DaveDuarte Traditional news sites for ‘news’. Social Media for opinion.

Marcel_Perform Marcel_Perform Icon_red_lock @daveduarte Trying to avoid sceptic, paranoid news-media negative propaganda that sells newspapers.Sticking to SA Rocks & SA Good News thanx 

KerryHaggard KerryHaggard @DaveDuarte – perhaps perception(NB) that traditional news sites are less biased. Also clear idea as to left, right or centre…

KerryHaggard KerryHaggard @DaveDuarte or completely up to own choice ie Google News

robinpietersen robinpietersen @DaveDuarte Hope we get to see the results sometime :-) Would be interesting…

As Jonathan Hitchcock pointed out:

Taking a survey about social media on twitter *might* possibly give you a slightly skewed result set.

The results are interesting nonetheless. How do you find your news?




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