I remember, some weeks ago, there was a lot of discussion in class about advertising in social media. What are the types, how each type work and if these types are profitable. I found an article about youtube, which is redefining its advertisment strategy. It is a move to interest both audiences and businesses. As youtube’s Vice president of sales and marketing says: “imagine if [the site] could help a company think through user behavior and create campaigns that leverage search, social capabilities and YouTube. . . . Everything will be more integrated.” I attach the link for the article and I hope you will find it interesting.
The involvement of fans of a football club can be enormous. I would like to give you two different examples.
First of all, in 2005 an American business family bought Football Club Manchester United. A lot of the fans of Manchester United did not like this, because they thought, the business men did not love the sport and the club, but only want to make money out of it. In November 2005 those fans started their own Football Club: FC United of Manchester. They play every week a match and around the 11,000 fans support this team nowadays, and to not support Manchester United anymore. As you can see, some consumers/fans used to be very loyal, but such a big change did change their idea about ‘their’ club as well.
Another example of the involvement of a football club and the fans is in Mexico. In Mexico there is a club in the second division where the fans make the squad. They vote before the weekend which players are playing and who it not. In the break the supporters can vote via Twitter, the website and text messages which players should be substituted. And believe it or not, they are doing very well in the league (fourth place). The players are very excited and say that the supporters always support them (because they make the line-up). Of course sometimes players are angry with the supporters because they do not play.
Continue reading Involvement of fans or consumers
Last session Dimitris talked about the LinkedIn Alumni network for Consumer Channel Dynamics. I really like LinkedIn. It can be very useful and it is not like Facebook or Twitter. LinkedIn is not only a social network site, it also helps you to create a valuable network. I started to read some things about LinkedIn last year, and figured out that it can be helpful sometimes to deny some people, it is not about how big your network is, but how useful. Sometimes a smaller network can be more useful than very big networks.
I added a small movie about LinkedIn, because I saw some people not raising their hands when Dimitris asked if everybody used LinkedIn. The first time I was a little bit skeptical as well about LinkedIn, but now I think it is very helpful.
Continue reading LinkedIn
The last guest lecture was really interesting and informative. She talked about the evolution in the means of advertisement and the value of co-creation. When I asked her to answer my question “Is co-creation a trend or a new standard” without a second thought she replied “Definitely, a new standard”. However, among the examples that she present from companies that successfully use co-creation, like Nike and Fiat there were examples of companies with great success which they scorn this new trend, like Apple (!) and Ford.
So if co-creation is a new standard how these companies manage not only to survive but also to be at the top without using it????
The words of Steve Jobs “You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new” and also Henry Ford who said “If I had asked my customers what they wanted they would have said a faster horse” puzzled me a lot. The truth must be somewhere in the middle I thought.
After having read the article Co-creation: a new source of value, by Ajit Kambil, G.Bruce Friesen and Arul Sundaram I realized that co-creation will be a new standard if it used properly so as to increase profits and loyalty.
There are a lot of ways for companies and customers to build the trust to effectively co-create. Continue reading Co-Creation trend or a new standard?