Social Media Week

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Crowdfunding and Your Business

Last month in the United States, the JOBS Act was passed, which allowed for crowdfunding to raise investment capital. The JOBS Act is the Jumpstart Our Business Startups Act, and it has the potential for thousands of entrepreneurs to benefit from the law. It allows small companies to raise capital in various formats, and while we wait for the Securities and Exchange Commission (SEC) to draw up the regulations over the next nine months, it’s a great time to review crowdfunding on a larger level.

twintangibles, our city organizers for Glasgow, hosted a series of discussions on the topic at the beginning of the year. And we think it’s worth revisiting them:

Time has come for Crowdfunding
Social history of crowdfunding
Equity based crowdfunding
Crowdfunding platforms: to each their own
Components of a good crowdfunding campaign
Interview with Luke Lang, Founder of Crowdcube
Interview with Stuart McLaughlin, Founder of @Fund_It
Crowdfunding bicycle building

Do you have something else to add? Let us know in the comments below.

A Day In the Internet

Just what does a day in the Internet look like? MBAOnline shows us- and it’s pretty impressive…

A Day in the Internet
Created by: MBAOnline.com

David Eastman: Top Trends that will Shape Social in 2012

Facebook, Google, Amazon, and Apple have all changed the social and digital landscape. CEO of JWT, David Eastman highlights just what these four have excelled at and how they’ve shaped what we do currently. Watch his insights below, and catch our recap of the major trends you need to know:

1. There is a battle for our identities.
The Fab Four of Google, Amazon, Facebook, and Apple are the modern equivalent of radio and TV. But what makes this more unique is that it’s the first time in history private global media companies controlling so much public space and information about us. Apple’s iTunes account is the new digital passport and ties all devices to this account. Amazon puts our credit cards as the starting point for our identity. Ecommerce has broadened from physical commerce to digital consumption, and Amazon’s formula for success is Digital Identity + Digital Media Consumption + Mobile Devices= Control of the Market. Google has less of an universal identity but has concentrated on serving as many ads to as many customers as possible. To do this, they have focused on getting their operating systems on as many devices as possible which encourages more users to use their products and see their ads. Finally, Facebook has emerged as the identity broker. They have learned how to monetize this identity opportunity and with the Facebook Connect and Like buttons have promoted their ownership of digital identity.

 
2. There is a danger of lazy marketing.
Being present on these platforms isn’t enough alone. The prevailing belief is “You don’t have to think about it too much; just be there.” But in reality, there are no easy shortcuts. As a marketer you should think about what your brand says and does more instead of just where it does it. At the end of a campaign, it doesn’t matter where you have those conversations if you’re having an uninspired and boring conversation. If it’s boring, they’ll drift off just like they would in real life. The benefit of these platforms, in particular, Facebook, is that it revolves around hyperpersonalization. Marketers can more efficiently target the right people at the right time, and users get more relevant helpful content right when we need it.
 

3. We are craving more human moments of discovery.
Brands will need to put a greater emphasis on discovery and randomness to really connect. We have to ask ourselves if everything is updated automatically is it really discovery or is it just a machine-based information feed that we would really call spam? Most times it’s spam and that doesn’t connect people to brands. You need friction to make things human and real. Active and mindful sharing is valuable and entertaining. That’s what brands want. By making it frictionless we dilute the significance of what people really care about and lump the big items that are close to a person’s core values with the small interests and pieces of information we like to graze on.
 

Bonus: The pace of innovation accelerates as the people in society become more connected.
There are many arguments that social media is making us less creative by allowing us to only choose to follow what others are doing. We have moved more from being a culture of active hunters and gatherers to passive cutters and pasters. We keep sharing with each other the same things over and over again. But what history teaches us is that this is great time for innovation. We are on the cusp of a renaissance of global information. Literate educated individuals can contribute to shared ideas of understanding. While it is harder to recognize originality, it has never been easier to access and research information. And that’s the building block of creativity- existing ideas. We now have the massive opportunity to tell new engaging, memorable, behavior-changing brand stories across numerous platforms to ultimately build the strongest possible meaningful interactions with consumers.
 

So, what does this all mean? We are going to see a shift towards moderation. While frictionless sharing is great for overall activities, like where we eat and who we hang out with, the need for a unique space to share what’s really important is mounting. We won’t lose Pinterest or Facebook, but we will see the rise of a more personal and curated social site, where the real user is showcased. Brands that help users do this and convey an interest in those things that are personal to the individual user will only gain more trust with consumers. I have a feeling this is the next big area of innovation for social platforms.

Watch all our keynotes from February 2012, and don’t forget to share your thoughts on David’s presentation below.

Special Offers: Activate New York and Benchmark

At the core of Social Media Week is our mission to help people connect through collaboration and the sharing of ideas and information. While we have exciting announcements about our September edition coming out next week, we also want to provide you, our community, great opportunities to do this now.

We have two special offers to join our friends at the Guardian and at Benchmark with our own founder, Toby Daniels.

Activate New York
The Guardian’s second annual Activate New York is a one-day summit focusing on how we can change the world through technology. All taking place at The Paley Center May 3rd. An open and digital first approach to journalism has helped to drive record audiences for the Guardian and deepen their engagement with readers. This reflects a wider shift in business and society towards a more open way of operating. This summit will ask how we can use openness and digital to be the best in their field. Activate New York brings together the experts, innovators and thought leaders to start answering these questions in a more intimate forum. A major theme will be on the battle for the internet at a time that couldn’t be better. Speakers joining Toby will be

  • Arianna Huffington, The Huffington Post
  • Jeff Jarvis, CUNY Graduate School of Journalism
  • Wadah Khanfar, The Sharq Forum and Al Jazeera Network
  • Om Malik, GigaOM Network
  • Clay Shirky, NYU
  • Alan Rusbridger, Guardian News & Media

Our community receives an exclusive 30% off your place using this bespoke code CROWD30 when booking. If you’re not able to join, you can keep up with the conversation at @ActivateSummit.

Benchmark
Then, on May 9th, you’re invited to join Benchmark, an interactive conference focused on case studies from some of the biggest brands in the social space. Benchmark features the opportunity to sit down with presenters over lunch for discussion and questions in an intimate environment. Best part? We get a special rate of $199 with Promo Code: BMSMW (case sensitive).

We hope to see you there!

Instagram Your City For Social Media Week and Win A Trip Across The World

Over the past four years, Social Media Week has hosted conferences in more than 26 cities around the world.

To celebrate our sixth global event this coming September, we are asking people around the world to Instagram Your City. There are many photo programs such as Instagram, Nokia Creative Studio, Lightbox, Hipster and StreamZoo that enable you to make beautiful images and share with your friends. So, we’re asking you to use one of these platforms or any filter (or none at all!) to showcase the uniqueness of our host cities. We are looking for the Top 14 submissions to represent each of our 14 cities participating in Social Media Week this coming September, all from your perspective.

Submitting is incredibly easy (And don’t worry, you can still enter even if you don’t have the Instagram app):

1. Take a picture: Using any smartphone device, take a photo that captures the uniqueness and heart of one of the 14 host cities for Social Media Week. (Note: To qualify for the grand prize, photos must be taken with a smartphone and must be of one of the 14 participating cities.)

2. Add a filter: Using any social photography platform, such as Instagram, Hipstamatic, Nokia Creative Studio, StreamZoo, or Lightbox, make your photo stand out. While a filter isn’t necessary to enter, it does make it more fun!

3. Tag & Share: Using #InstagramYourCity, share on Twitter with the city you’re capturing. For example, “Just submitted my entry to @SocialMediaWeek’s #InstagramYourCity for Berlin!”

There’s no limit to the number of entries you can submit, so get creative!

In the coming weeks, we will launch the Instagram Your City special website, which will feature the top 14 city shots. One “Best-in-Show” picture will then be selected from these with the winner being given the opportunity to travel to any Social Media Week city of their choosing during the September 24-28 event.

September’s Social Media Week, powered by Nokia, will be the biggest, most diverse and expansive to-date, with 14 cities hosting, including London, Glasgow, Torino, Barcelona, Berlin, Doha, Jeddah, Hong Kong, Seoul, São Paulo, Bogotá, Chicago, Los Angeles and Vancouver.

“As we continue to add new Social Media Week cities and expand to incredible parts of the world, we are looking to fulfill the adage of ‘a picture is worth a thousand words’,” said Toby Daniels, Founder & Executive Director of Social Media Week. “As a celebration of the uniqueness of all of our local cities, the Instagram Your City competition will provide a way to tell stories that cross cultural and geographic boundaries.”

The deadline for submissions is June 29, so grab your smartphone and show the rest of the world what makes your city unique and beautiful.

For full rules and guidelines, see here.

  

Images courtesy of @rocktheretweet, @vutheara, @shelserkin. This contest is not endorsed or certified by Instagram or Burbn, inc. All Instagram(tm) logos and trademarks displayed here are property of Burbn, Inc.

Google Hangout On Air: Cross-functional Collaboration and the Future of Professional Learning

Do our current business models work in light of the rise of social business? Rawn Shah asserts no. With many throwing different theories around, Shah lays out a logic for his arguments and why this works for many business models. And this intrigued us for how this will change professional education and overall collaboration.

This Tuesday, May 1st, at 11:30am ET, Social Media Week founder Toby Daniels will be talking with Rawn Shah via Google Hangout On Air to learn more. You’re invited to join us. Find us here and we look forward to seeing you tomorrow.

Want to know more about Shah before tomorrow? This may help: Rawn Shah explores collaboration and social business methodologies within and beyond organizations. He writes the Connected Business blog on Forbes.com, and is the author of seven books, his latest being “Social Networking for Business: Choosing the Right Tools and Resources to Fit Your Needs” (Wharton School Publishing/Pearson, 2010). For a decade, he was a columnist and editor for technical journals such as JavaWorld, LinuxWorld, Network Computing World, Windows NT World Japan, IBM developerWorks. He is currently Social Business Strategist for the Worldwide Enablement team in IBM Collaboration Solutions focused on business processes, determining the business value of collaboration technologies, and governance and ethics in social business.

Connect with Shah here:
Book: Social Networking for Business: Choosing the Right Tools and Resources to Fit Your Needs
Twitter: @rawn
Linkedin: Rawn Shah
Side anecdote: He is also a martial arts sensei and has taught Japanese swordfighting for over a decade.

A Closer Look at Nokia’s Global Social Strategy

We love a good story and case study on a company who has social at it’s core. When we came encountered this post by our media partner Econsultancy, we loved it- and it’s focused on a brand that’s very familiar to Social Media Week. Nokia has a great social strategy. Here’s the post from Econsultancy:

Nokia is facing perhaps it’s toughest time yet as a business.

No longer Finland’s most valuable company (electric utilities company Fortum took the lead last month on Helsinki’s Stock Exchange) it finds itself a challenger brand after years of dominance – with the Lumia 900 positioned as the way to break into the sophisticated US smartphone market.

But with this adjustment also comes opportunity: the company is able and prepared to take risks and try new approaches. Nokia’s approach to marketing and the success of this is critical to the business’ transformation, including driving a more connected organisation that is able to build and thrive in a new mobile ecosystem.

As such, the company has worked with Brilliant Noise to structure and roll out its social strategy across the business  – focusing on integrating this into every employee’s daily life, becoming a more social business from the inside out.

Nokia’s global director of social media Craig Hepburn told us that the opportunity now is to take the best examples of social media it has and ask how the business can scale the behaviours and successes even further.

“Across a global organisation that interacts with consumers in more than 150 countries globally, that’s no small task.” Hepburn explained that he expects Nokia’s marketing teams to practically support other parts of the business with the insights they gain from actively listening to consumers in social media, and that those teams can pass on the lessons they learn about how to work with social media: what’s needed in terms of skills and capabilities, how to build networks and communities, and how to effectively manage many-to-many communications.

He explained that a large part of this is explaining social media in terms that make sense to non-marketing teams.

As part of this process, Brilliant Noise went out and spoke to Nokia employees from around the world. After stripping away the jargon or technical speak, it seemed that people referred to ‘social’ in three key ways:

  • Stories: The large and small ways in which Nokia and its products are changing people’s lives. Content assets, insights, folklore, the scattered matter that makes up what the brand is both for its employees and its customers. Stories bring to life the essence of Nokia’s brand for customers and employees alike.
  • Conversations: The connections with customers and other influencers online; the dialogue that keeps Nokia open and honest; the conversations between customers that Nokia can learn from.
  • Numbers: The data and insights that flow from Nokia into the social web and vice versa; the measures and evaluation methods to understand what is happening and how decisions can be made.

Hepburn said that these are a loose but useful construct with which to think about social media and the value it can deliver, and as such will be looking at two valuable behaviours as signs (and causes of) success:

  1. More interaction between Nokia employees and its consumers.
  2. More consumers talking to each other about Nokia.

Brilliant Noise founding partner Antony Mayfield said that both of these support advocacy and recommendation – ultimately the most effective kind of marketing in the world. “They are both also evidence of a growing ecosystem of conversations and relationships.”

Based on this, Nokia has created six guiding principles that will be rolled out internally for all staff to use as a starting point for any social strategy, a memory-aid during planning and to challenge existing tools or processes:

  1. Consider the social opportunity in everything we do 
  2. Engage in better conversations with more consumers 
  3. Deliver personal experiences, be authentic, and earn trust 
  4. Sharing is more important than control
  5. Define clear objectives from the outset 
  6. Invest and commit to social presences

There are hundreds of case studies to support existing work in these areas, acting as supporting evidence to the rest of the business that a ‘social approach’ has already produced great results.

Its sponsorship of the film Tron inspired a “takeover” of key Nokia social presences (Facebook, Twitter and its blog) by the fictional Encom business that features in the movie. Working with 1000heads, this produced a 150% increase in daily activity on Nokia’s Facebook page, where 70% had never spoken about Nokia before and at its peak 80,000 were talking about the campaign.

The company is using Socializer to provide a real-time action framework for marketing, and launched Agora, a six plasma-screen installation showing visualisations of real-time conversations back in February.

There’s also the work around its global sponsorship of Social Media Week, which the company used as an opportunity to develop its “random acts of kindness” approach to creating advocacy, an internal communications project called Nokia Follow Friday – and videography competition Nokia Shorts 2011.

Plus, there’s promise in f-commerce. The promotional tabs on Nokia’s Facebook page (before the switch to Timeline at least) were the most popular after its wall, while average CTR for a promotion on the Nokia global Facebook page is 13% and the Lumia’s The X Factor/One Direction promotion generated CTR of 37%.

Nokia has good social stock at its core, and has approached its success with humility while recognising that the primary challenge now is to scale.

With structure in place, and increased interest in what’s been done internally from many within the business – a focus on the three pillars of “listen, engage and commerce” could prove to be incredibly valuable.

Vikki Chowney is head of community at TMW. You can follow her on Twitter or Google+

The Guardian Interviews Alec Ross (Video)

Social and digital media is disrupting governments, in ways that are large and small. As the first Senior Advisor of Innovation to the U.S. Department of State, Alec Ross has been put in charge of accounting for the internet and networks in foreign policies. The Guardian interviews Alec as part of their daily series during SMW12. See the full interview, and catch our recap below.

1. The State Department is focused on preserving the free expression of the will of the people, especially with the emergence of new technologies.
All of our old values and old rights can be protected and preserved in new technologies. Currently, the U.S. Department of State has invested $70M in over a dozen projects to help people exercise these rights, from Internet in a Suitcase and a panic button for mobile phones. The State Department’s involvement goes beyond developing new projects to also working to secure internet freedom. Internet freedom is fundamental to human rights in the 21st century. As networked capabilities get more sophisticated, we need to be more attuned to the possibility of the compromise of the openness of the internet. Companies should also be held accountable for selling gear to oppressive regimes to facilitate more intranet and closed systems, prohibiting internet freedom.

These are big tasks and there is a big team behind all this, including Hillary who has been the godmother of 21st century progression. A great example of the innovation that team does together can be seen in App for Africa. Apps for Africa came out of one of his team suggesting they maximize the great pool of app developers in East Africa. Citizens of East Africa could present the biggest problems they face to local developers, and the developers who develop the best solution would win a prize. The winning app was iCow, which maps menstrual cycles of cows. The app helps farmers better understand milking cycles and breeding cycles and current market prices. While it might not seem obvious at first, but these initiatives do push forward our foreign policy objectives. Foreign aid and assistance is a strong foreign policy objective, as is fighting poverty. Apps for Africa helped move both along. Their initiatives are also making a space for government to citizen communications. We can now dialogue with people that we would never had that opportunity to before. This takes the implicit elitism out of diplomacy.

 
2. Social media has played a very definite role in revolutions around the globe.
Social media played very definite roles in the uprising in North Africa:

1. Social media accelerated movement making. Movements were built faster because of these open platforms.
2. It facilitated leaderlessness. The leadership of themovement itself was networked.
3. It enriched an information environment. access to info wasn’t commanded down.
4. historically of unlike type came together offline because of online connections.

But ultimately, these are just tools. No country can tweet its way to democracy but these tools can make it easier to share information with the external world.
 

3. The internet does not lend itself to compromise or moderation.
Social media has a proven history as a powerful tool for dissent but overall is has not shown itself to be good for governance. As we transition to elections and governance, all things internet can actually play a role in further dividing a country. One thing we do know about the internet is that it ultimately amplifies the voices at the extremes. We need to overall see more programs that help this tool moderate this better.
 

Stay posted for Alec’s full session on the U.S.’s digital vision and our analysis to come later. In the meantime, watch all our keynotes from February 2012, and don’t forget to share your thoughts on Alec’s keynote below.

Jalak Jobanputra: What in the World? (Video)

If you love data and tech trends around the world, then you’ll quickly become a fan of Jalak Jobanputra. This past February, Jalak presented the digital and mobile trends to watch around the globe- all from the eyes of an investor. Watch her travel the globe below, and catch our recap of the major trends you need to know.

1. We are experiencing unprecedented connectivity around the world.
Right now there are 7 billion people on the world. This is vast human capital. We are seeing the markets play out in two areas. Developed markets are typically saddled with high deficits and debt and have an aging infrastructure. However, they are home to innovation, stable human capital and great resources. The developing markets are becoming less risky than previously thought for investors. Their growing human capital and tech advances will power development, but issues with infrastructure, agriculture, education, literacy and health are all challenges. While China has a large population, they have an aging issue with 25% of their population exceeding the age of 65 by 2025. On the other hand, India’s growing population and shortage of experienced workers now will grow into an asset, as they have a much more youthful population with large potential for strong innovation. The technology phenomenon is happening across demographics and is unleashing connectivity to people that never had it before.
 

2. Mobile penetration greatly influences economic growth.
For every 10% point increase in mobile penetration for a country, there is an extra 0.8% increase in annual economic growth in the same country. This means mobile is important. And it’s becoming a bit of a phenomenon, so much so that many individuals around the world now own multiple cell phones. 94 countries had mobile penetration over 100% in 2010, and currently, more people have access to mobile phones than they do to adequate water services. This is a huge market for investors.
 

3. Most of the world is unbanked.
Ecommerce looks differently in many countries, with fewer individuals engaging in commercial and financial transactions through a banking institution. And those are using a bank more and more are doing so via a mobile device. While the US is burdened by existing infrastructure in regard to ecommerce, the rest of the world is engaging in more technological forms of transactions. In Kenya, SMS messaging is common, with the average transaction at $24. In Japan, contactless payment is common. And understandably so. It’s 40% faster than credit/debit cards and 60% faster than cash. It is commonly used for microtransactions with an $9 average.

Commerce itself is looking different, with a strong move toward discovery and curation. Social recommendations are playing more of a role, especially in Asian cultures like China. Innovations in retail is booming and including this component. So, we’re seeing more things like interactive mirrors in dressing rooms in Brazil that can email photos to your friends for their feedback on your potential outfit purchase. There is still great room for innovation in this area, as people want to make transactions more seamless and social.
 

Bonus: The next great innovator can come from anywhere.
The need for more reverse innovation where developed markets learn from developing markets and share their existing knowledge is paramount. This should be happening in areas like health. Building out local innovation systems is key. All entrepreneurs need guidance and mentorship. We can do this on a global scale, and doing so will accelerate cross-border innovation.
 

So, what does all this mean? Jalak did a great job of bringing to light what the next emergent trends will be for developed markets and where we hope developing markets will go. We’re already seeing more governments and local municipalities participate in open data, helping open the door for more innovation. We need to begin to see more of a collaborative spirit with brands across borders. Imagine the possibilities for healthcare brands in India sharing the latest tech for urban doctors reaching rural patients with the UK and the US. Collaboration doesn’t mean competition can’t exist. There is great room for innovation and new ideas in all these areas, which can spur on new services and products. And that can lead to new revenue streams for brands- and better services for consumers. I think we will see this forced in areas that must adapt, like healthcare and mobile.

 
Watch all our keynotes from February 2012, and don’t forget to share your thoughts on Jalak’s presentation below.

The Evolution of Reg-FD: How Social Media Has Changed Investor Relations (Video)

Earlier this week, we highlighted Howard Lindzon’s keynote on Reg-FD and how investor relations is being changed through social media. He had some great insights, and as many great thought leaders, he values input from others in his field. Following his keynote, he led a panel discussion on the issues of access, transparency, and multi-channel deployment with Matt Dickman from Weber Shandwick, Gene Marbach of Makovsky and Co., AECOM’s Paul Dickard, and SAP’s Friederike Edelmann. Watch the discussion in full and catch our highlights and analysis below.

1. Social media usage is all about risk management for investor relations right now.
While there aren’t concrete rules governing social media usage yet, you can help control the conversation. How you respond to conversations online is important- kick them back to environment that you can clearly follow Reg-FD requirements. Be clear how you are using social platforms and lay out rules for engaging on those sites. Companies need to look at engaging in social media with the right controls in place and with governance. While there are complex business issues with social media’s use, it does provide open access to customers. Also, social media data is clean and directional enough that it’s another index overlaying financial performance. Social media has that inherent risk that you can send something that shouldn’t be multiplied with an individual’s twist, but this is no different than other content- the results of it are just more immediate. All in all, the panel strongly felt the benefits warrant a solid look from companies.
 

2. Know your audience. Different audiences need different media channels.
There are two types of investors: institutional and retail. Your employees typically are retail, and for retail investors, social media is a better tool for engaging. It’s great for marketing to and educating employees about investor relations. The average institutional investor is 85 years old and doesn’t check email on a daily basis. You must use both old and new tools. You can advertise that information is available online, but you still must offer a hotline and accept handwritten letters. Most importantly, you need to communicate in one voice across all these channels and treat all investors in the same way as much as possible. Retail investors should get the same info as institutional investors. People just want the same info in different ways; social can’t be the only channel as much as your website or mailings can’t the sole source of information.
 

3. Social media offers the benefit of immediate information.
When searching for information on Google, as a vast majority of people do, Google Index’s social content is placed at the top. Any 3rd-party social content can be higher than your meticulously crafted messaging if you’re not participating in social media. So, search has become the great leveler. There’s also the immediacy of the social feedback loop. Brands typically interview participants before and after event to get assessment of what’s on their minds and poll investors for what they want. Now, with social media, this information can be gathered much more cost-effectively and much quicker and immediately. Brands get insights on an on-going, dynamic basis.

 
Now, what does this all mean? Social is being woven deeper into businesses. It’s no longer just communications to consumers; it has progressed to B2B, HR, and is now touching the deep and intimate level of investor relations. We are experiencing the emergence of fully socialized businesses. The area is ripe for innovation in new tools that bring investor relations to a new level, and we should soon expect to see new regulations that mediate how businesses handle disclosures. Before the government steps up though, we will see more self-governance. Businesses are already looking to each other in this area and learning from one another. I think the financial sector more than most will experience the greatest level of disruption from social and digital trends, and the top brands are ready for this.

Watch all our keynotes from February 2012, and don’t forget to share your thoughts on the discussion below.

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