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The Squared Root
6 Posts tagged with the social tag
I just learned that Bill Fields, the former president & CEO of WalMart Stores Division, is going to be a part of Interactive Austin 2008. He is going to be on a panel with our very own Dave Evans and they will be discussing the new trends and technologies that are driving social interaction. Social interactions are increasingly becoming “virtual,” always present and close as your mobile or handheld. As a result these virtual interactions are now a part of real life: people expect to be able to connect independent of physical proximity. Networks of friends, colleagues, partners, and suppliers are playing an essential role in the collaborative processes powering leading organizations. However, I digress, back to Bill. What makes me so excited to hear Bill’s perspective on social interaction is his background. To put it simply, Bill is not new to the world of big business. Bill has served as Chairman and CEO of Blockbuster Entertainment, President and CEO of WalMart Stores Division, as well as President and CEO of Hudson’s Bay Company, which at 332 years is the oldest chartered firm in North America. Currently, Bill is the Managing Director of Field Texas Limited which is a consulting and investment company that specializes in consumer, retail, and supply chain in North American and in China. Bill’s experience and vision in building larger organizations will no doubt provide a very unique and exciting perspective on how social media and social interaction are affecting the business world.
Twitter. If you consider yourself in the know of all things tech, than you probably have heard of Twitter. It seems to be popping up everywhere nowadays. Friends letting friends know what they are doing, giving insight to feelings on a certain topic, arranging plans for the weekend or even commenting on the article they are currently reading. Even though Twitter was created for personal use, friends sending quick micro messages to friends; it is really starting to take off as a business tool. It lets companies update its followers on exciting news, new blogs, schedule changes, or just what the employees of that company are up to that day. Companies are also using Twitter to share and connect with others to listen to what is being talked about, in order to gain business intelligence and consumer insights. Twitter has also taken off as a conference tool, allowing attendees to update their followers on all the interesting topics and speakers that they are encountering at the conference. I have personally found myself addicted to Twitter lately, and get disappointed when I am not receiving tweets. Twitter gives me that wonderful “in the know” feeling; that great feeling of knowing that you can intelligently participate in almost all the conversations that are occurring around you. By having carefully chosen who I am following, I have a better understanding of what is going on in the political world, the interactive world and the social world (mostly my social world here in Austin). If you haven’t experienced a tweet, I suggest you check out twitter and see what have you been missing in the world today.
Some of the hottest topics of the business world these days are centered on social media. One of the main issues is around Facebook as a business networking tool. To really begin this discussion, let’s look at business in general. One of the key elements in growing your business is increasing sales. Coming from a sales background, I have attended many different sales classes and seminars and they have all said the same thing. Building strong relationships closes sales and increases profitability. We were taught to look around a prospect’s office and find a nick-knack, a photograph, a trophy; anything that would give us a glimpse into their personal life. Maybe you see a picture of a sailboat on their wall, so you ask them how long they have been a sailor and to what destinations have they sailed. Immediately a conversation has begun. Finding these little connections helps sales people build a small trust between them and the prospect. Applications like Facebook, can help you accomplish this before you even walk in your potential client’s door. You can see that they have two kids and that they love the Red Sox. You have a glimpse into their personal life before you even meet them. Basically, if you are in business, you have been “social networking” your entire career. You just haven’t been able to network on this large of a scale. According to Facebook, there are more than 70 million users with more than half of them college graduates. In fact, the 25 years and older demographic is the largest growing group on Facebook today. That’s a whole lot of business prospects to get to know.
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Since FG SQUARED is sponsoring the Interactive Austin 2008 forum to bring together Central Texas area professionals well-versed in the application of social media and interactive services to business purposes, I was fascinated by an article that I read recently in Web 2.0 boot camp. The title was "Why traditionally minded execs need a little basic training to conquer their mistrust of social networking and document sharing." It sited the logistical advantages of social networks to get colleagues, employees and customers in touch. The article also acknowledged that Wikis as the answer to eliminating the long hours in email distributions. With such obvious advantages, why is it that companies seem to freeze before they adopt these low-cost social media tools. The learning curve on such tools is simply not that great ... so why the hold up? The article speculates on the mistrust of senior executives and that it may arise from the roots of social media - many of the tools were developed originally as "fun stuff" and now are being touted as business tools. The roots of social media may create a some disbelief with business professionals as to whether these clever tools are actually suitable for serious business purposes. The article also pegs an even bigger concern. - the fear factor that Kathleen Gilroy, a Web 2.0 consultant with the Otter Group in Cambridge, MA, describes. Social media threatens the standard hierarchy structures in business. It has a flattening effect on organizations that engage. No longer is the information reserved just for those in the "pup tent"- but for a much larger group in the organization. Understandably, many executives are afraid to give up control and to give everyone a voice. The new organizational structure (that results from the application of social media within an organization) and its effectiveness in communications are often unknown to many of executives at this point in time. There are concerns that inaccurate information will slip out online. However, executive fear and procrastination will not necessarily stop the social media wave. Dion Hinchcliffe, president and CTO of Hinchcliffe & Co. with a track record training over 4,000 executives globally, has worked with many executives who decide to embrace social media corporate-wide - only to find that many of their departments were already using many of the Web 2.0 tools. With more content now being produced through social media than traditional media, it seems clear that the social media wave is cresting and that companies need to prepare for the wake. Corporations need to find management approaches that create checks and balances to control the distribution of corporate information. Brand consistency is also crucial. Companies have to address these issues and challenges and then balance the additional work involved in the transition with the additional exposure available by going global and social online.
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I am not someone who serves as a walking advertisement for just anyone or any cause. But given next weekend is father's day, I thought now is perhaps the best time to share Bamboo Originals (http://bamboooriginals.com/), a t-shirt business owned by my father Len Golab. The mission of his business is to provide his customer with the finest Bamboo T-shirts and clothing to wear and enjoy. He believes after you learn about the natural properties of bamboo fiber, and especially once you feel its softness, you will never want to wear anything else. Many of us are very particular when it comes to the clothing we wear and the car we drive. In many ways, our individual purchasing decisions send a message to those you share a relationship with. Indeed our purchasing decisions communicate and make an impact with the world. 
Our Future is Up to Us - these are the six simple words printed on a t-shirt gifted by my father to celebrate my 35th birthday last weekend. Given the acceleration of personal change in my life right now, these words resonate and are reinforcing my sense of purpose right now. Dad, thank you very much. I really appreciate this gift and wanted to share with you publicly. Let me assure you, a shirt like this makes a great father's day gift. If you are thinking about buying one for that special dad in your life, here's where I recommend you go. http://bamboooriginals.com/products/?view=product&pid=61 Bamboo is a sustainable resource, which thrives naturally without pesticides and is 100% bio-degradable. Naturally anti-bacterial because of its bio-agent "bamboo kun", that prevents bacteria from cultivating on it. It has unusual breathing ability, because of its hollow fiber which keeps you cool, comfortable and will never cling to your skin. It doesn't retain odors either due to its moisture ventilation properties. Its uncommon softness gives it a silky feel that you will love.
Social commerce, the use of social media in business, is putting companies on an even playing field; and the companies that aren't getting on board are going to find themselves falling behind the competition. Think about it - social media is everywhere! Wiki-ing, blogging, podcasting, twittering, FaceBooking, and MySpacing - this is how the world is communicating now. And if your company isn't playing along, your message is less likely to reach your target audience. For this reason, major corporations, like Austin-based Dell, Intel and AMD are integrating social networking and other social media into their marketing plans. 
To help companies get to where they need to be, interactive professionals in Austin that understand the power of social media in today's world have converged to create Interactive Austin 2008. This forum which takes place on June 19th, is an event dedicated to educating companies on the advantages of Social Commerce, the importance of it in the rapidly changing corporate environment, and how to harness its power for profitability. The event will feature two prominent keynote speakers. Brian Magierski, Co-Founder and Chief Development Officer of nGenera Corporation, will speak on "Social Commerce and It's Impact on Business." While the Vice President of Corporate Marketing & Communications for AMD, Pete Hayes, will speak on "Get into the Click Stream: An Alternative to Driving Traffic to Your Site." Aside from the keynote speakers, this will be a day full of educational and informative panel discussions and case study presentations from Austin's social media experts. If you have a company, it would be a wise decision to attend Interactive Austin 2008. For more information about it, check it out online at http://www.interactiveaustin2008.com. We will see you there!
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