Ashutosh Joshi is FirstRain’s Principal Data Analytics Engineer. He attended The Big Boulder Initiative last month and learned some interesting things. Read on:
Last month the Big Boulder Initiative, organized by one of our vendors, Gnip came to San Francisco and I was lucky enough to go on behalf of my team. FirstRain is a Gnip Plugged in Partner and we consistently get great value from being part of the program and attending Gnip events.
The meet was attended by about 20 companies of varying size – from large companies to a few start-ups with less than 10 employees – all Gnip customers. The conference started with Gnip CEO Chris Moody giving an introductory talk about the objectives and agenda of the conference. What was different about this conference, compared to others that I’ve attended, were its objectives. The goal of the meeting was to discuss what the biggest obstacles, current and future, facing the social-data industry and what steps could be taken to remove those obstacles (boulders). Gnip recognized that it was in a unique position to understand the concerns of both the publishers – the creators of social data like Twitter and Facebook – and the companies who, like FirstRain, use that content to deliver high-value business solutions. A main focus of the Boulder Initiative events is to reach out to its customers to identify the problems they, and the industry in general, face, and to brainstorm solutions to them.
Several problems were proposed, but the biggest that emerged were:
1. Cost of Data
2. Ethics of Data Use
3. ROI to be achieved
4. Access to data
We broke up into teams and discussed short- and long-term steps to be taken around each of these areas. The problem that I found most interesting was the problem of access to data. There is so much data out there, but the access to that data is restricted to those that can afford to license the expensive pipelines. Also, because the data is costly, the primary focus of those accessing the data tends to be turning a profit. Having freer access to the data would lead to more innovation, bringing down the cost of data creation as well–which could be facilitated if the publishers could grant limited/free access to academia or non-profits.
The social data industry is in its infancy, and is still figuring out all the advantages and pitfalls of the different decisions it makes. Gnip’s Big Boulder Initiative events are valuable because they introduce standardization around social data. This includes the different properties of data, like the chain of custody and control that each individual element – the creator, publisher and multiple levels of consumers – can have over the data at different stages of data analytics and the finished product, to the ways to access the data and the rights of the consumer. It was a great to be a part of this process of discussing and proposing standards that hopefully will facilitate more innovation in an up-and-coming industry.
Unlike many other vendor conferences I have attended, it was’t about Gnip giving us demos of their latest features and then trying to sell them with a day of presentations pushing products–It turned out to be quite the contrary. At the end of the event, a board of 3 attendees was elected and they along with 9 similar board members from three more Big Boulder Initiatives around the country were tasked with acting on the solutions proposed in the conference. All in all, a good day for partners and, most importantly, long term for the users that use our services leveraging social data.
It seems like Dreamforce ’12 took people by surprise. Refrains of “It’s massive!” popped up all. over. the web.
We obviously now know to expect that Dreamforce ’13 will be just as giant. But what else did we learn last year that will influence how we all exhibit this year?
Side note: if you consider yourself a FirstRain competitor, please ignore this post. In fact, please do the opposite.
1. A successful business is a social business
I bet that if, for some reason, your company hadn’t embraced social media last year, that was the first thing you did when you got back from Dreamforce. How could you not, especially after Sir Richard Branson called you out on it? “For a business to not embrace social media … you’ve clearly got your head in the sand.”
Being on social media not only gives you an easy channel to engage more and different people, it allows you to really connect with people on a more personal level. Nowadays, people appreciate seeing the human side of corporations—and the corporations realized that at DF12.
This year, I expect WAY more traffic on Twitter (and Facebook, and LinkedIn…) and an effort to be more personable and, dare I say, casual—and, hopefully, some very cool ideas coming out of it.
Which happens to segue nicely to my next point:
2. If you want to stand out, you need to get creative
Dreamforce is huge. We’ve established this. So what can you do to make sure to get foot traffic at your booth, which is a tiny (but I’m sure very lovely) island in the Moscone Sea?
We just talked about how people like to see the clever, human side to a business. So if you want to get noticed, you need to get creative with how you promote your company in the run-up to Dreamforce. Recognizing this, for the second year in a row, we at FirstRain have made a Dreamforce-themed video, which is getting a lot of love, and a funny Dreamforce-themed Tumblr (check them out—you won’t be sorry!). We’ve seen other creative videos and Tweets pop up here and there, too (and we love it!).
Make sure you have the material to impress once people want to know more—but getting people to know your name in the first place is half the battle.
3. There are more apps out there than anyone knows what to do with
My prediction: at Dreamforce ’13, there will still be more apps than anyone knows what to do with. And there might be even more than that. Because people have now seen that being able to provide a quick and easy solution to any sort of business need, isn’t just nice—it’s what people expect. Oh, and if they don’t currently have your solution, the only way they’ll consider buying it is if it’s compatible with the solutions they already do use.
Expect to see an explosion of integration at this year’s Dreamforce. Have we mentioned that FirstRain can be dropped in to just about any CRM or corporate platform? And it’s mobile, which is also necessary.
Come visit us at booth #N1924! We promise to have cool swag (free lesson #4).
By Daniela Barbosa, Director of Business Development
Simply just being on networking sites isn’t enough anymore—to stay competitive you have to be creative with the content you are putting out there, showcasing your expertise and even creating a new social community. With all of its challenges, social media continues to be one of the most effective ways you can market your company and connect with clients. When your customers are able to interact with your company online, you’ll understand what is currently driving them to purchase a certain product or favor a specific brand. But think beyond just sharing content with your clients—develop an engagement strategy that’s specific to your target consumer and you will begin to see stronger sales.
Be Purpose-Driven
Forbes says that digital marketing campaigns are starting to move toward more purpose-driven content and branding, according to this infographic from We First, a B2B training company. The infographic highlighted that 54% of consumers don’t trust that brands are being genuine. Let that sink in for a minute. Your social media initiative is under customer scrutiny most of the time, and you need to figure out a way to bridge that disconnect and really interact with your customers. A main challenge to achieving this end is that the majority of employees, about 54%, said they didn’t clearly understand their company’s mission and so were unable to effectively communicate with customers online. After you make sure your employees really know what your company is trying to achieve, then you can turn to your customers. One of the key ways the infographic suggested for building customer loyalty online is by showcasing the humanizing aspects of your company, such as charity involvement, or highlighting a strong volunteer culture.
By developing a comprehensive social media strategy around your customers’ needs that all of your employees can follow, you will not only improve worker knowledge, but also ensure everyone is on the same page.
Learn From Entrepreneurs
But how do you make this a reality? Well, understanding your customers is key, but you should also gather some insider secrets from a few innovative professionals who have conducted successful social initiatives.
Entrepreneurs are often better able to think strategically about what they want to accomplish. According to a case study by Entrepreneur magazine, three startups gained strong sales early on by adopting a customer-centric—and, unsurprisingly, innovative—social media strategy.
One of these young professionals, Warby Parker, decided to increase awareness about his New York city-based online eyeglass company’s brand by encouraging clients to share their own stories and content on social media. Warby was able to promote his company by providing customers with the opportunity to try on the eyeglasses before buying, and then asking them to speak about their experience online, like whether they decided to purchase the frames. The strategy was focused on generating positive buzz about the company.
David Gilboa, co-founder and co-CEO of Warby’s company, told Entrepreneur that the marketing idea was a grassroots-type strategy for the brand.
“Don’t view social media as just another way to push your marketing messaging,” Gilboa said. “Think of Facebook, Instagram and Twitter as critical customer service gateways and take the time to respond to each and every customer who reaches out to you there. Each comment, photo and tweet gives you an opening to directly communicate with them on a meaningful, personalized basis that encourages brand loyalty.”
