The Business Web 2.0
As CEO of business-based social networking site WeCanDo.BIZ, read my take on the role Web 2.0 technologies can play helping businesses to grow.
Thursday 24 July 2008, 3:18 PM
Twitter tweets its own death warrant
Much has been made of Twitter's recent outages. But with today the worst day so far, Twitter could be about to find its previously loyal fanbase all disappear.
It's bad enough when you discover something and then can't stop using it, to the general detrement of your working day. When that thing occasionally disappears and you feel a bit sick when you can't tweet or read others tweets, you know things are bad.
But the worse day ever since Twitter burst onto our desktops, laptops and phones has arrived: not only has Twitter been down for much of the day, but when it was up many people found that the list of "followers" they had built up over time had shrunk, either because the connections were no longer being applied, or because peoples accounts had disappeared altogher.
Paul Greenberg, someone I follow (and can, at this point, still see) writes: "About 30% of those I'm following [and] the same of those following me [have] GONE!! Will have to reconstruct. Disgusting.”
Twitter has posted an update on the status of the missing data at http://status.twitter.com/post/43329900/updated-follower-following-counts, but it seems to have appeased few.
Twitter fan and Socially Minded author Matthew Brazil writes in his latest blog: "How on earth do you lose so much information? If Twitter has a currency it has just dropped through the floor. Over the last few days they have been haemorrhaging data at a staggering rate; lost Tweets, Followers and Followees. Why do we put up with it? I am beginning to question the viability of Twitter as a useful tool. In theory it’s fantastic but in practice it is somewhat different."
Downtime is something few in business tolerate. But lost data?
Could Twitter have tweeted its own death warrant?
Ian Hendry
WeCanDo.BIZ
http://www.wecando.biz
Wednesday 23 July 2008, 12:10 PM
European LinkedIn rival XING triples its earnings
XING AG, professional network LinkedIn's strongest rival in Europe, has reported its half year results and they show phenomenal growth -- great news for business focused social networks in the current economic gloom.
Compared to the first six months of 2007, this year saw a near double to a turnover of EUR 15.91 million; earnings (EBITDA) rose nearly three fold to EUR 5.76 million. Total membership rose to 6.14 million members worldwide; a healthy increase of some 1.3 million, but still some way behind LinkedIn's estimated 23 million globally.
I say estimated, because LinkedIn isn't a public company so has no obligation (or necessarily interest) in publishing equivalent levels of detail. Which is a shame, as one of the most interesting trends XING revealed in their accounts was that two other revenue streams have been added to premium subscriptions over the past three quarters, one of them being e-commerce of which the majority of activity is job listings in the XING Marketplace (there were 2.46 million clicks on jobs during the reported period).
I have long asserted that LinkedIn and XING are of most interest to people looking to hire or be hired first and foremost and the above statistic goes some way to showing that I may be on to something. With profiles that most closely resemble CVs than product or service portfolios, these two sites seem to represent the interests of individuals better than they do the companies they represent. Unless those companies are recruitment specialists, of course, which is where I would guess a not insignificant proportion of the premium subscriptions come from.
Are there any readers who are members of either and actually doing business on these sites, rather than just talking jobs?
Ian Hendry
WeCanDo.BIZ
http://www.wecando.biz
Friday 18 July 2008, 11:45 AM
Web 2.0: what is it good for?
Quite a lot actually. Don’t dismiss it as a buzzword attached to a fad – Web 2.0 technologies enable you to do many of the things you already in business, but a lot faster.
The phrase "Web 2.0" doesn’t signify a significant leap in internet technologies; it’s just a tag used to describe websites where the content you read has been put their by website visitors and users, rather than website owners and publishers. It’s where you get to achieve your objectives through contact, collaboration and engagement with other website users. You may not know these website users; or they may be customers, suppliers or partners. Social networks, blogs, forums, micro-blogging and more all fall under the Web 2.0 banner. And rather than being the preserve of nerds and teenagers, business people are now using these tools to great effect to help achieve their business goals.
Here is a simple break-down of how some of the most innovative Web 2.0 services can benefit you and your business:
>> Best for seeking advice on general business matters
Online forums are full of normal business people who are experts in their respective fields and who are happy to answer questions posted by others. From accountancy and tax issues, through to IT or internet marketing questions, you’ll find forums and experts all over the web. People will value your own opinions too, so they can be a place where you can show off your skills and win new business as a result. For the most part though, forums are discussion websites where people go for help, advice and feedback.
To find the best forums, type details of your industry along with the word “forums” into Google (http://www.google.co.uk). Make sure the forums are relevant to the markets you serve – you may not wish to be on a US based forum if you only sell locally, for example. You may need to register to post on forums – and maybe even to read what others have written – but there is no reason why you should pay; there are plenty of free resources on the web. Also worth a look is BusinessZone’s forums at http://www.ukbusinessforums.co.uk, which cover a wide variety of disciplines; with 27,000 registered members they are also very well supported.
Blogs from experts in your field may also provide you with valuable information, contacts and a route to other useful resources. Again, search Google for your industry or specialism, plus the word “blog” to find industry luminaries who document their thoughts and findings through their blogs. Also check out the websites for the magazines and journals for your industry to see if they have expert blogs.
Most blogs allow you to comment on what has been said – this is a great way of getting the most from those contacts and also showing your own expertise. Make sure you include a link back to your website in your signature when you leave a comment on a blog, so people can contact you if they wish to. You could find your comments leading to new opportunities for you. Don’t put your e-mail address in your signature, however, as spammers will use it!
>> Best for hiring new staff and career advancement
Forums can often be the source of valuable advice on hiring or finding a job, but it is likely you’ll want to do engage in doing either with a little more discretion than is available on a public forum!
LinkedIn (http://www.linkedin.com) is a professional networking site which is heavily skewed towards personal progression and career advancement. You can register to add your own profile, which includes information about the various roles you have had; you can then re-connect with people you worked with in those roles, many of whom may also have their career details on the site too – LinkedIn has 23 million members globally. Former colleagues are often a great place to recruit from, but they can also help you get placed, either directly or through people they are happy to recommend you to.
LinkedIn is a US-based site, although popular in the UK with over 1 million members here. It has a European based competitor in Xing (http://www.xing.com), which has strong German and Spanish communities in particular, although it is not so well represented in the UK.
>> Best for sharing ideas with peers and others in my industry
Forums probably provide the best answer here. Search for forums specific to your industry through Google, making sure the forums are well represented in the same geography as you. You may also want to check out the websites of leading magazines or journals for your industry, as these may also have active reader forums where you can mix with others from your industry.
Watch also for blogs from industry commentators. They may be the thoughts of only one person, but can be a useful source of industry information that doesn’t make the news websites. You may also build up some useful contacts through the people who comment on these blogs, as well as the bloggers themselves.
Of course, you can always start a blog yourself to get you in front of your industry peers. The best place to start is looking to see if those industry specific news sites offer reader blogs – sign up to one of these and you’ll get the benefit of being promoted through the site they run into the market you’re in. Otherwise, start a blog at either http://wordpress.com or http://www.blogger.com and be sure to promote it as much as you can – consider adding a link to it within your e-mail signature or to any social networking or forum profiles you have. WordPress can also be linked to your own company website, which will help drive more traffic to your site. If you go it alone in this way (as opposed to blog pages on a news site), then you’ll have the job of promoting it yourself of course – no one will do it for you.
>> Best for meeting new contacts with a view to doing business
One of the issues with forums and blogs is that people often do not like being sold to through them. When you think about it, if every blogger or member of a forum tried to sell their products or services every chance they got, such places would soon become nothing more than bazaars, offering little valuable information. So it’s best to tread carefully around them to avoid being lambasted for being overly “salesy”. It is possible to get barred from forums if perceived to be using it to serve only your self interests!
That said, it is possible to ultimately win new business from forums and blogs by proving your expertise through the pages and attracting customers passively. This is best done by offering advice to those seeking it, rather than trumpeting your own skills. Over time your reputation will work for you to help you win new business.
All of this takes time, however, and it is impossible to say how much you would have to give to these sites in order to get a return. If you are looking for more immediate returns for your business, social networking may provide quicker and more quantifiable results.
If you sell to consumers, make a bee-line to the social networks you think your target customers are more likely to be members of. Facebook (http://www.facebook.com) is the leading mainstream social network and appeals to the young and more mature in equal measure. Facebook offers fan pages for businesses and brands to promote themselves. Sites like YouTube also offer opportunities for promotion through video clips – the more fun ones can spread like wildfire; so called “viral marketing”. If you have something funky to sell and can produce simple videos to promote it, this could be a great way of reaching consumers.
If you operate in the somewhat more staid business to business arena, however, my own business focused social network at http://www.wecando.biz may provide you an easy route to new customers. It is an online lead and referral network, enabling you to list yourself and your business; collect endorsements from customers which, in turn, get you better promoted on the site; and make connections with other business people who you may be able to assist or who may be able to assist you. As with almost all Web 2.0 resources, it is free to join.
>> Best for getting back in touch with former colleagues
This task is most easily performed where most of your colleagues are likely to be found -- and for most, this will be LinkedIn. As it stores a list of companies you have worked for, requested when you signed up or which you can update at any time as you move jobs, it offers easy methods of searching for people who worked at the same companies as you. Connections are made either directly or through mutual acquaintances on the site.
Facebook also offers a similar feature, enabling you to enter details of previous work places, although not many of the significantly higher overall number of site members (120 million worldwide at last count) use this feature. You can still search for former colleagues by name through the site’s search facility, however.
Spock (http://www.spock.com) isn’t a site for Star Trek fans, but a Web 2.0 site that aims to help you find anyone on the web, no matter where they are located. It primarily looks for people across other social networks, LinkedIn and Facebook included, attempting to show you all results it finds for the individual you are searching for. It goes without saying it doesn’t work so well if you are looking for a former work friend with a common name, or if they share their moniker with a well known celebrity, as you’ll have to sift through all references to their namesakes first. It is interesting to trawl through, however, and you’ll soon find yourself looking up your own name up to see what or who else exists across the far reaches of the web with your name on it! You’ll need an account on the social networks it finds your colleagues on to be able to connect to them.
>> Best for keeping in touch with existing customers
E-mails and newsletters are the most common ways of keeping in touch with your whole customer base using electronic means, but the communication tends to be all one way – unless they mail you back, you don’t get to hear about what they are doing or what they need. And why should they mail you back? There are probably many other suppliers managing a more personal touch to those contacts and winning business as a consequence.
Think also about all the business cards you have picked up over the years and what you are actively doing to see if you might still be able to do business with those people. And what about everyone listed in your various e-mail address books or your mobile phone contacts list? Remember that partners, suppliers and even friends can also be customers.
Web 2.0 offers some great ways of maintaining contact with ALL of those contacts, encouraging a two-way flow of information on needs, as well as offers. We have made it a key part of our WeCanDo.BIZ website: you can invite all your e-mail contacts to connect with you on the site (sync your phone with your e-mail to ensure you address those contacts too) and then you’ll get to read their most urgent business needs as they post them, looking for assistance. You can message all those contacts, or broadcast your urgent business needs to them also – they may be able to help or have close contacts that may be able to assist. It all helps to encourage contact and trade within the network you already have. Maximising the return from known contacts is much easier and cheaper than approaching and trying to win new customers from scratch, although WeCanDo.BIZ makes it easy for you to reach new contacts through its business focused network too.
How do I co-ordinate all these?
The number of Web 2.0 sites is mind-boggling and it grows longer every day. Luckily, in a business context there are only a few you need to concern yourself with and those are mentioned above. However, it could still become a big part of your day flying from one to the other if there wasn’t an easier way of keeping on top of them all.
I am a member of many sites and, of course, need to keep a constant eye on my own. To do this easily, I use a “dashboard” from Google, called iGoogle (http://www.google.com/ig). If you already have a Google account for Google Adwords, it will be easy to set up; otherwise, you just register a new account. iGoogle allows you to build your own web homepage with various components on it, all reporting activity from other sources across the web. Clicking the “Add stuff” link allows you to do a search on the sites you’d like to collect information from; if they are listed, you click Add to include it on your dashboard. For sites where you can’t find a so-called “widget” to keep you updated, you might be able to add a RSS feed.
RSS stands for Really Simple Syndication and is a stream of news or events from a website that you can display through an RSS reader, which iGoogle has one of (look for it on the “Add stuff” page down towards the bottom on the left). If a site you know has an RSS feed, normally indicated by an orange RSS button either in your web browser or on the website itself when you visit it, click it to get the address of the RSS feed page, before you copy the URL (web address) for that page into the RSS reader on iGoogle. It is a lot simpler than it sounds.
You can find the RSS feed for our site at http://www.wecando.biz/rss/bizneeds.php.
Do this for each site and you can have a stream of news, features and more all coming straight into their own panels on your dashboard. Combined with the specific social networking widgets available, you can get a single view of what is happening on each of your social networks and forums on one page. Clicking the “story” in each panel will take you to the source site if you need to go there to answer a query or pick up a lead.
Most internet browsers also have RSS readers and you may consider it easier just to list the feeds in your browser rather than use iGoogle. Again, look for the orange RSS button on websites or in your browser address bar to subscribe to the feed and get updates whenever it is added to. I find the best RSS reader in the Opera browser (http://www.opera.com), which is also available for internet connected mobile phones and PDAs. There are also RSS readers in Internet Explorer and Firefox.
Web 2.0 offers a lot of useful resources to help your business. Not all of the above will suit every individual or company, but it is worth experimenting with each to see which brings the greatest return. Also very important is which method you find easiest to spend time on cultivating those benefits. Technology should assist you to achieve, not trip you up; that applies with Web 2.0 technologies as much as any other.
Ian Hendry
CEO, WeCanDo.BIZ
http://www.wecando.biz
Thursday 10 July 2008, 1:10 PM
Follow me!
You can now follow my thoughts and blogs on the Business Web 2.0, especially social networking, through any of the following methods:
Through Twitter at http://twitter.com/wecandobiz
Through Friendfeed at http://friendfeed.com/wecandobiz
Through RSS by clicking the RSS feed button on this page or in your browser bar
Hope to see you tweeting soon!
Ian Hendry
WeCanDo.BIZ
http://www.wecando.biz
Wednesday 9 July 2008, 10:39 AM
The Genome for the true social web?
Google perceives itself as providing the DNA for the web. But could Russian startup Genome actually hold the key to the future of the social web?
I have been banging on about the next wave in social networking forever. MySpace, LinkedIn and Facebook may have opened our eyes to the possibilities of social networking, but I have always been convinced that the REAL value for web users will come through smaller, more focused social networks appealing to specific needs or special interest groups. And where there is value, there is money. In my view, sponsorship of these niche sommunities is the way for advertisers to see returns from social networking and for social networks to make money.
What has frustrated me is that the development of these niche networks requires three things:
1) A better way of publicing them than listings on Google
2) An easy way to be able to log in to many of them without needing to remember a long list of IDs
3) An ability to easily take already established contacts with you, so you don't have to build up a whole list of "friends" from scratch each time.
I have watched initiatives like OpenID and OpenSocial closely for nearly a year in the hope they would help -- they probably can, but there are few successful implementations of them. Projects like Clickpass, Facebook Connect and Google Friend Connect offered another glimmer of hope that our identities and connections may become portable, but have failed to gain a foothold. If Facebook and Google can't make it work, will it ever? To be clear, I have also questioned WHY either of those two would want the proprietary data they hold on us and our relationhips being used elsewhere...
Well, news reaches me today of an exciting new project from a team of developers in Russia that may yet provide a solution to our problems, making it easy for us to carry our identities and relationships around with us. The name of the project, Genome, could hardly be more appropriate.
Details are scarce, although bit by bit details are emerging through their developer blog at http://bloodcarter.wordpress.com . But from what I read so far, Genome would hold your identity and your friend list and then that would be passed to social networking sites you visit to allow you to use them as normal. It uses only open methods of doing this (presumably those I mention above). It filters out the rubbish that some of the socnets generate. It also helps make advertising more relevant to you. Connections to it could be deployed on any website, making it possible to "socialise" your site and enjoy the benefits of viral, word of mouth marketing within hours.
At this stage, it seems to answer every prayer I have ever had and I am convinced, if they can do it, that it will kick start the "next wave" I have been talking about. We might only have to wait until October to find out, as that is when CEO Vladislav Chernyshov plan to launch a public beta so we can all try it out.
In the meantime, I have requested a private beta and I'll be reporting back on whether it is the panacea that many of us are hoping it might be.
Ian Hendry
WeCanDo.BIZ
http://www.wecando.biz
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