CrowdVine - Meet Smarter

Earlier this year, I accepted an advisory and research position with CrowdVine.  CrowdVine is in the “white label” social networking business.  The company helps people in groups, associations, and attending events to meet smarter through their software solutions and associated services.  You can learn more about the current product features here:  http://www.crowdvine.com/home/features

I can’t believe my good fortune! It is an honor to work with and learn from CrowdVine’s visionary product team and their dedicated customers.  The company is viable and boot strapped.   My role is to help the CrowdVine community “cross the chasm” in pursuit of a sustainable social networking platform.

My thoughts on social networking, product management and community management will likely be organized on CrowdVine’s blog in the future and cross referenced here when appropriate.

Welcome to your Network!

The invention of Brand equity was loosely defined in the 90s as intangible value that companies and products held in the mind of a prototypical“consumer”.  Brand equity was driven by a comprehensive brand strategy or brand identity.   Brand marketing enthusiasts featured the difference between a company’s asset book value and its stock price as one representation of brand equity.  They also pointed to price premiums commanded by market leaders as another representation of brand equity.  The priority for brand development during this time was placed on developing a brand identity through differentiation messaging first, and form (billboards, magazines, sponsorships, etc.) second.

Brand equity proved as difficult to measure as it was to define.  The introduction of the internet and e-commerce within the consumer value change has further complicated the process of creating a “brand”identity and driving brand equity.

I believe the last 10 years has seen a priority shift in marketing efforts from“brand identity content” to “brand identity context”.   In today’s “branding” arms race, how a a company messages is perhaps more important than what a company messages.

Engaging customers through Twitter, blogs, forums, chat rooms, instant messaging, physical to virtual product promotions, Second Life, user affiliate communities, rating systems like yelp, mobile applications, Youtube, technology partners/vendor promotions,  etc. all inform the connected customer about your company, your products, and how you relate to your customer.

In the early days of internet marketing, the following maxim held true: If you can’t search for it, it doesn’t exist.   While this is still true in today’s marketing world, it is highly likely that if you maintain a top competitor position within a mass market niche, your name WILL come back in a search result.  It also highly likley that you name WILL come back via a communication context you have not leveraged, containing content you did not create!

Companies need to choose how they engage their customers and stakeholders through internet carefully.  A company’s messaging and listening capabilities informs the world about its brand just as much as its logos and other marketing materials.  Marketing leaders are recognizing this shift.  They recognize the internet IS NOT a “paved cow path” replacing magazine and billboard placements.  They recognize the need to proceed with caution when engaging customers on the internet because the internet is an interactive medium and captures a reference-able digital product history forever.   Building a marketing presence on the internet is no longer about placing an ad, but rather, building a relationship.

A friend pointed me to the postcrossing service the other day.

I love the idea of this service.  I have many international friends and love to travel.  When I am unable to enjoy these interests, receiving little random notes from around the world sounds like an interesting substitute.

I think this is yet another idea that could have a positive transitional impact within large, globally dispersed companies.   Forging a company culture is a processing of forging employee communication and connections.   Getting to know your Indian, Chinese, Latin America, and other geographically dispersed counterparts is potentially awkward to do via email and instant message.  Video messages and conference calls can also be intiimating for those on both sides of the call.

Why not have a company sponsered penpal service!  If can work for 2nd and 3rd graders, then it probably should be able to work for those grown up kids with business cards.   I can’t think of a more user friendly and personable way to share insights on the company, concerns, or to start building relationships beyond 9-5 and across organizational structures than with this post carding service.

Leveraging partner ecosystems is not new.  Social Media has not reinvented the space.   Regardless of how you are experimenting with social media and partnering to drive customer value, I would recommend to not stray too far from basics.  Here are 3 rules I recommend:

1. Never embarrass your partners in front of their customers
2. Maintain a [highly] visible profile in your Partner’s income statement
3. My Golden Rule:  Whether selling directly or through the channel, never let others define the value of your product.  Define a market disruptive “promise”, and then continually exceed expectations.

Quote from Business Week:

Personalization works, and several companies are working on ways to make it work better. Microsoft recently filed a patent application that would use offline data such as credit-card transactions, estimated physical location (from cell-phone towers), and TV viewing habits to serve you a customized ad the next time you go online. The fact that you bought cleats for your kids this morning, went to a high school football game in the afternoon, and turned on ESPN when you got home would conceivably trigger a personalized sports ad on your cell phone.