Tuesday 26 June 2012

7 Goals of Successful Community Management Strategy


Most people involved in social media or community management have experienced this many times. You take on a new client, or start a job with a new role, and management is very excited to see you. The company really needs to do more with social media, they declare with enthusism. And they are confident you can make it happen!
But ask them what their goals are you'll often be met with blank stares. Despite a deluge of information about social media over the past few years, many executives still don't have an idea of what they want to accomplish with their brand's community management efforts. And as any savvy social media guy or gal knows, it's pretty hard prove your effectiveness without some agreement of what you're trying to do.
This means that your first task will often be to explain to them what the possible goals MIGHT be, and then start from there to identify which ones are important to them. Here are 7 goals of a successful community management strategy:

1. Enhance Awareness

Enhancing awareness is often one of the top priorities for community management. A company wants its brand to be fresh in the mind of existing customers, while spreading the word to potential customers, as well as anyone else who might influence existing and potential users.

2. Improve Public Perception

What customers and non-customers alike think and feel about a brand matters greatly. Strong positive PR helps build brand loyalty and goodwill with customers. When people feel good vibes about a brand, they are more likely to notice and highlight the positive aspects. This translates into increased mindshare and better word-of-mouth engagement.
3. Enhance Customer Service/Support
These days, customers with problems or questions don’t always follow traditional routes of airing grievances or resolving issues. More and more, they are engaging in online and social media communities to spread the word and ask for help.  Good community management provides enhanced customer service and support by answering users questions and directing them down avenues to resolve any problems or issues.

4. Create Advocates

Influencers are very important to the success of brands. While strong brand advocates sometimes pop up on their own, successful community management involves discovering, identifying, and nurturing brand advocates and key influencers.

5. Collect Analysis and Feedback

Information on how an existing or potential customer base feels about a product is extremely important. The ability to identify opportunities to improve an existing product, or to understand successful enhancements for future products,  can pay dividends. Knowing what a community says they want, extracting what they really want (which is not always what they say they want), and understanding what they dislike or don’t want, can help increase adoption, extend an existing product’s life, or refine design and feature sets to make new products more successful.

6. Educate Existing and Potential Users

Educating existing and potential users can be integral to improving brand awareness, PR, and adoption. When users learn what a product does, how to make the most out of a product, or even how the product is created, they tend to be much more engaged. You won't get far if people have no idea what your product is for or how to effectively utilize it.

7. Drive Acquisition

Perhaps the biggest goal is to increase acquisition. Depending on the business, this could be as simple as selling more widgets, gaining more eyeballs, or promoting institutional adoption. You want more people to purchase or use the product, people using the product to use it more often, and more organizations to consider your product to be their standard.
Once you identify what is important to your client, you can start to craft a goal-oriented community management strategy that allows you measure effectiveness and success.

Tuesday 29 May 2012

TOP 5 RICHEST MEN OF ALL TIME AND HOW THEY MADE THEIR FORTUNE


1. John D. Rockefeller

Peak wealth: $318.3 billion (based on 2007 US dollar). Age at peak wealth: 74
As a young man, John Davison Rockefeller said that his two greatest ambitions were to make $100,000 and live to be 100. He died two months shy of his 98th birthday, but boy did he make good on the first goal.
Rockefeller wasn't born to a rich family. His father, William Avery "Big Bill" Rockefeller was a shiftless man who spent most of his times thinking up schemes to avoid actual work! Nevertheless, thanks to the guidance of his mom Eliza - a homemaker and devout Baptist - John D. grew up to be a hardworking man.
Rockefeller started out in business as a wholesale grocer and went on to found Standard Oil, which through shrewd business decisions and some say predatory and illegal practices, grew to be a gargantuan monopoly. At its peak, Standard Oil had about 90% of the market for refined oil (kerosene) in the United States (in the early days of Standard Oil, gasoline wasn't an important component of the oil industry - indeed, gasoline produced by the refineries were dumped in rivers because they were considered useless!)
In 1911, the US Supreme Court declared Standard Oil a monopoly under the Sherman Antitrust Act and ordered it to be broken up into 34 independent companies with different boards of directors. By that time, Rockefeller had long since retired from the company but still held a large percentage of shares. Ironically, the busting up of Standard Oil unlocked share values and his fortunes doubled overnight.
Rockefeller got his first job at 16 as a bookkeeper. In a move that portended his lifelong commitment to philanthropy, he tithed 10% of his income - from his first paycheck on - to charity. As his wealth grew, so did his charitable contributions. When he died in 1937, Rockefeller had given away half of his amassed fortune, and established philanthropic foundations to continue giving after his death.

2. Andrew Carnegie


Peak wealth: $298.3 billion. Age at peak wealth: 68
Andrew Carnegie immigrated as a young child to Pittsburgh from Scotland and began working at 13 years old as a bobbin boy in a textile mill. He changed spools of threads for 12 hours a day, 6 days a week for a weekly wage of $2. At 16 years old, Carnegie became a telegraph messenger boy, and soon after was promoted to be a telegraph operator.
Carnegie became a personal assistant to Thomas Scott, superintendent of the Pennsylvania Railroad Company and learned the ins and outs of the railroad business. It was Carnegie who invented a brutally efficient way to clear the tracks after a railway accident: by burning the railroad car!
When he was 20, Carnegie mortgaged his mother's house and made his first gutsy investment of $500 for 10 shares of the Adams Express company - sort of the Fed Ex delivery company of the 1800s - and was handsomely rewarded. He then invested in a company making sleeping cars for the railway. By the time he was 30, Carnegie had expanded his investments to iron works, steamers, railroads, and oil well.
But the real money came from steel. In the late 1880s, Carnegie built his steel empire to become the world's largest manufacturer of steel rails, pig iron, and coke.
In 1901, at the age of 66, Carnegie retired by selling his shares to John Pierpont Morgan for more than $225 million (a large sum today and an astounding amount of money back then) in form of gold-bonds. When the bonds were delivered, a special vault had to be built to physically house them!
Carnegie was big proponent of philanthropy - in a famous 1889 essay "The Gospel of Wealth," he wrote that wealth should be distributed to promote welfare of other people and enrich society. True to his words, Carnegie gave away more than $350 million or almost 90% of his fortune.
Note: At the end of the Spanish American War, the United States bought the Philippines from Spain for $20 million. Carnegie was appalled at what he perceived to be an imperialist move and personally offered $20 million to the Philippines so it could buy its independence from the US (they didn't take him up on his offer).

3. Nicholas II of Russia


The last Russian Imperial family
Peak wealth: $253.5 billion. Age at peak wealth: 49
Nicholas II of Russia (born Nikolai Aleksandrovich Romanov) was the last Tsar of Russia. He ruled (badly) from 1894 until he was forced to abdicate in the Russian Revolution of 1917 by the Bolsheviks. His reign was marked with antisemitic pogroms, a crushing defeat by Japan in the Russo-Japanese War, revolutions, internal unrests their bloody suppressions, undue influence by the mystic Rasputin and World War I. A year after he was deposed, Nicholas and his entire family were executed by Lenin's order.
The life of the last tsar of Russia was filled with fascinating myths, legends, and history - and readers interested in it are encouraged to read more about Nicholas II and the Romanovs. Suffice it to say that Nicholas II became the third richest man in history the old fashioned way: he inherited his wealth.

4. William Henry Vanderbilt

Peak wealth: $231.6 billion. Age at peak wealth: 64
William Henry Vanderbilt had a pretty good start in life: he inherited nearly $100 million from his father, the railroad mogul Cornelius "The Commodore" Vanderbilt (if you want to read a rags to riches story, Cornelius' is pretty good - see below).
William Vanderbilt was groomed by his father to be a businessman (at times harshly - the imperious and domineering Cornelius liked to call his eldest son a "blockhead," "blatherskite," "sucker," and "good for nothing") and William turned out to be quite an able businessman. He expanded the family's railroad empire and thus the family fortune, finally earning his father's respect and friendship.
When William died in 1885, he was the richest man in the world.

5. Osman Ali Khan, Asaf Jah VII

Peak wealth: $210.8 billion. Age at peak wealth: 50
Asaf Jah VII (whose given name was Osman Ali Khan Bahadur) was the last Nizam or ruler of the Princely State of Hyderabad and Berar, before it was invaded and annexed by India in 1948.
By most accounts, "His Exalted Highness" the Nizam of Hyderabad was a benevolent ruler who promoted education, science and development. He spent about one-tenth of his Principality's budget on education, and even made primary education compulsory and free for the poor. In his 37-year rule, Hyderabad witnessed the introduction of electricity, railways, roads, and other development projects.
In 1937, Asaf Jah VII was on the cover of Time Magazine, labeled as the richest man in the world.





INTERESTING FACTS ABOUT 10 FAMOUS BRANDS – SUPRISING TRUTH


1. Apple – The inspiration:

In 1976 Steve Jobs was working in a community type farm in Oregon which inspired him to name the company Apple Computers. Co-founder Wozniak believes Steve might have got this name idea either from the farm or because of his music tastes in Apple Records which was quite popular with Beatles.Apple Logo


2. Adobe – The River:

Adobe Systems was incorporated in 1982 by John Warnock and Charles Geschke. The name evolved from Adobe Creek in Los Altos, California, a river that ran behind the house of one of the company’s founders.Adobe Logo


3. CISCO – The confused acronym:

CISCO is popularly confused as the acronym for ‘Computer Information System Company’. The name "Cisco" was actually derived from the city name, San Francisco, which is why the company’s engineers insisted on using the lower case "cisco" in the early days.CISCO Logo


4. Google – The Back Rub:

Did you know that the search engine you use frequently was once named ‘backrub’? Google was created in 1996 under the name "BackRub". Moreover, the Google name change in 1998 came as a spelling mistake of the word “googol”.Google Logo


5. Hewlett Packard – The coin toss:

We’ve seen coin toss at the start of sports games. But deciding the name of a company through a coin flip? That is how HP got its name. Bill Hewlett and Dave Packard tossed a coin to decide whether the company would be called Hewlett-Packard or Packard-Hewlett.Hewlett Packard Logo


6. Mercedes – The fair lady:

The famous car brand Mercedes was originally named after Emil Jellineks’ daughter, Mercédès Jellinek. Emil Jellineks was the man who specified an engine designed by Wilhelm Maybach and Gottlieb Daimler that formally bore his daughter’s name.Mercedes Logo


7. Pepsi Cola – The wine

Pepsi originated in 1893 under the name of “Brad’s Drink”. It was named after the pharmacist Celeb Bradham. In 1898, Brad’s Drink was renamed "Pepsi-Cola". The name change was apparently due to digestive enzyme pepsin and kola nuts used in the formula.Pepsi Logo


8. Intel – The hard to get trademark:

Did you know that the company we know as Intel, could have been ‘Moore Noyce’? Founders Bob Noyce and Gordon Moore sought this name for their new company but circumstantially that name was already trademarked by a hotel chain. Hence the acronym of INTegrated Electronics was adopted.Intel Logo


9. Sony – The slang terminology:

This giant brand was established under the name of Tokyo Tsushin Kogyo K.K (Tokyo Telecommunications Engineering Corporation) in 1946. But the firm changed its name to “Sony” in 1958, an amalgamation of two words “sonus” and “sonny”. The English slang word "sonny" means smart, young and presentable.Sony Logo


10. Yahoo!

One of the most prominent search engines we know as Yahoo! was initially named "Jerry and David’s Guide to the World Wide Web". This was named after the founders Jerry Yang and David Filo. The term Yahoo! is an abbreviation for "Yet Another Hierarchical Officious Oracle".Yahoo! Logo

2011 Ranking of the Top 100 Brands




Print
                                              RankPrevious RankBrandRegion/CountrySectorBrand Value ($m)Change in Brand Value
                     11United StatesBeverages71,8612%
                     22United StatesBusiness Services69,9058%
                     33United StatesComputer Software59,087-3%
                     44United StatesInternet Services55,31727%
                     55United StatesDiversified42,8080%
                     66United StatesRestaurants35,5936%
                     77United StatesElectronics35,21710%
                     817United StatesElectronics33,49258%
                     99United StatesMedia29,0181%
                     1010United StatesElectronics28,4796%
                     1111JapanAutomotive27,7646%
                     1212GermanyAutomotive27,4459%
                     1314United StatesBusiness Services25,3099%
                     148FinlandElectronics25,071-15%
                     1515GermanyAutomotive24,55410%
                     1613United StatesFMCG23,9973%
                     1719South KoreaElectronics23,43020%
                     1816FranceLuxury23,1726%
                     1920JapanAutomotive19,4315%
                     2022United StatesBusiness Services17,26216%
                     2121SwedenApparel16,4592%
                     2223United StatesBeverages14,5904%
                     2324United StatesFinancial Services14,5725%
                     2426GermanyBusiness Services14,54214%
                     2525United StatesSporting Goods14,5286%
                     2636United StatesInternet Services12,75832%
                     2731United StatesTransportation12,5366%
                     2829United StatesFinancial Services12,4371%
                     2930United StatesAlcohol12,2520%
                     3027SwitzerlandBeverages12,115-5%
                     3128SwedenHome Furnishings11,863-5%
                     3232United KingdomFinancial Services11,7922%
                     3333JapanElectronics11,7152%
                     3435United StatesFMCG11,3723%
                     3534JapanElectronics9,880-13%
                     3643United StatesInternet Services9,80516%
                     3739CanadaMedia9,5156%
                     3837United StatesFinancial Services9,091-3%
                     3944ItalyLuxury8,7635%
                     4045FranceFMCG8,6999%
                     4142NetherlandsElectronics8,6580%
                     4240United StatesFinancial Services8,620-3%
                     4341United StatesElectronics8,347-6%
                     4448SpainApparel8,0658%
                     4547United StatesBusiness Services8,0057%
                     4649GermanyDiversified7,9008%
                     4753GermanyAutomotive7,85714%
                     4838JapanElectronics7,731-14%
                     4946United StatesFMCG7,6091%
                     5050United StatesAutomotive7,4834%
                     5151United StatesFMCG7,1273%
                     5258FranceFMCG6,9369%
                     5356FranceFinancial Services6,6940%
                     5452United StatesFinancial Services6,634-4%
                     5557SwitzerlandFMCG6,6131%
                     5654CanadaElectronics6,424-5%
                     5759United StatesElectronics6,4145%
                     5855United StatesMedia6,383-5%
                     5963GermanyAutomotive6,17113%
                     6062GermanySporting Goods6,15412%
                     6165South KoreaAutomotive6,00519%
                     6260United StatesRestaurants5,9021%
                     6361United StatesBeverages5,604-3%
                     6470United StatesDiversified5,59819%
                     6564United StatesFMCG5,3766%
                     6669FranceLuxury5,35612%
                     6767GermanyFinancial Services5,3459%
                     6868SpainFinancial Services5,0885%
                     6973JapanElectronics5,04716%
                     7077FranceLuxury4,78118%
                     7171United StatesFMCG4,6723%
                     7272GermanyAutomotive4,5804%
                     7376United StatesLuxury4,4989%
                     7481NetherlandsEnergy4,48312%
                     7582United StatesFinancial Services4,47812%
                     7666United StatesInternet Services4,413-11%
                     7779FranceAlcohol4,3839%
                     7878United StatesAlcohol4,3197%
                     7974United KingdomFinancial Services4,2591%
                     8088United StatesComputer Software4,17015%
                     8183United StatesRestaurants4,0923%
                     8280SwitzerlandFinancial Services4,0902%
                     8375United StatesFMCG4,072-2%
                     8484United StatesApparel4,0402%
                     8590United StatesDiversified3,94510%
                     8685MexicoAlcohol3,9242%
                     8787GermanyFMCG3,8834%
                     8892United KingdomAlcohol3,8428%
                     8989United KingdomAlcohol3,8416%
                     90NEWJapanAutomotive3,819N/A
                     9193NetherlandsAlcohol3,8098%
                     9286SwitzerlandFinancial Services3,7990%
                     9395ItalyLuxury3,79410%
                     9494SwitzerlandFinancial Services3,7698%
                     95100United KingdomLuxury3,73220%
                     9697United StatesRestaurants3,66310%
                     97NEWUnited StatesDiversified3,651N/A
                     98NEWTaiwanElectronics3,605N/A
                     9991ItalyAutomotive3,5911%
                     10098United StatesAutomotive3,5127%