Would I call the course “crowdsourced”?

Most of the help came from experts who consult to companies on social media marketing, have led seminars on SMM, have written books, or taught pieces of SMM in their university classes. (Although good suggestions came from students and others as well.)

So should I instead call it “lead user” innovation?

I think the process is best called “Community-sourcing.” I believe that this is a case study in why you should develop a focused twitter and blog following and community: the benefit from such a community is obvious at times like this but is also present day-to-day.

The incredible help I have received on my SMM course reminded me of an aha! moment after I moved to Hong Kong. When I was in Chicago I was good at generating trading ideas; after being in Hong Kong for a couple months it was getting harder. I at first blamed the long hours. Then I realized my infrastructure had changed: in Chicago I rode the morning train with an economist focused on fixed income and currency markets; when I got to the office I talked with the floor people before they headed to the bond pits and had pre-market calls with major institutional traders. The decline in ideas was not due to lost sleep, but my lost community…

Why do people help?

Why did I receive such an outpouring of help and support from the online community? This is always an issue in crowdsourcing and lead-users as well -WHY DO PEOPLE HELP???

WHAT DO YOU THINK?

(The current full outline is in the following post)

Social Media Marketing – Spring 2012

Objective – The objective of SMM class is for each student to understand and apply: the principles of social media marketing, the use of the key social media platforms by organizations, how SMM differs from standard marketing and internet marketing, key issues and changes in social media, and to demonstrate the capability to use social media to support the mission of a professional, business or non-profit organization.

Social Media Marketing is not Internet Marketing. In internet marketing promotional tools such as direct selling, coupons, advertisements are brought online and established success measures include SEO, click-throughs, etc. Social Media Marketing is really social networking online: reaching out and advancing real relationships with customers, prospects, and stakeholders. Promotional tools used in SMM can be jarring and counter-productive if not used carefully.

The “big four” SM platforms for professional SMM (per @michellegolden) are:

1.  Facebook [And FB fan pages]
2. Blogs
3. Twitter
4. YouTube
5. And… LinkedIn for anyone interested in networking or B2B or professional advancement…

 Reading: This is a rapidly changing field with many questions and few answers. There is a lot of reading including books, blogs and articles.

Books: We will use 4 interesting business-oriented paperbacks.

• Tao of Twitter by Mark Schaefer and
• Crush It! by Gary Vaynerchuk

are easy reads and should be read quickly as they will be discussed in the first two weeks. These two books are key to project 1 – your passion. Mr. Schaefer will address our class via Skype in one of our first four class meetings.

• Social Media Marketing: An Hour a Day (Dave Evans) and
• The New Rules of Marketing and PR (David Meerman Scott)

are available in the bookstore or can be purchased through Amazon or a bookstore. I urge every student to get a copy of An Hour a Day; you can share the Scott book if you wish, but must keep up in reading.

Recommended books  include: Engage (Solis), Likeable Social Media (Kerpen), Social Media ROI (Blanchard)

Websites: I hope you follow many websites and blogs. These should definitely be included for this class:

•  http://fastcompany.com/
• http://www.smmmagazine.com/magazine/
• http://techcrunch.com/
• http://mashable.com/                                       www.technorati.com
• http://blog.hubspot.com/
• allfacebook.com
• http://www.socialmediaexplorer.com/
• http://online.wsj.com/public/page/news-tech-technology.html?mod=WSJ_topnav_tech_main
• http://www.wired.com/

•  http://www.businessesgrow.com/blog/  (Mark Schaefer)
• www.facebook.com/SMM4RU  (This Class)

Articles: As assigned by instructor

Class Projects: Projects are the focus of Social Media Marketing class. The instructor will post sheets with more detailed information about each project

1. Personal Campaign – each student designs + executes a social media campaign for a personal “passion.”
2. Turn an author into a best seller – each group will generate ideas and a SMM plan for a new book author.
3. Organizational SMM – each group will generate ideas and an SMM plan for an organization.

Student Content: There is so much to understand and so much changing that no one person…but the each group will help with two videocasts for the entire class to view.

Student reports – each group will create a video-cast for the class on one of these topics:

1.  Presenting pictures: Flickr and its competitors
2. Blogging on WordPress, BogSpot or Tumblr; video-blogging
3. SMM on singles sites: OKCupid, Casual Kiss, Plenty of Fish
4. Google+, What’s happening, what’s coming…
5. Promoting blog content: StumbleUpon, DIGG, Technorati, Delicious, etc. & Syndicating a blog – B2Community, Triberr, etc.
6. Influence measures: PeerIndex, Tweet Grader, Klout, etc.
7. Video – winning on YouTube, vimeo, blogs – merits of platforms and techniques
8. Internal social media – Yammer, Ning, etc.
9. SM ads (FB, Linkedin, etc.) and compare to Google Ads.
10. Guerrilla marketing for small businesses with social media
11. Forecasting with social media

Best practices – Contrasting a good and bad organizational social media effort – video-cast from each group.

Course Topics Outline

1. Types of social media: blogs, microblogs, networking, media sharing, special interest
2. The “Big Five” – Facebook (& Fan Page), Blog, Twitter, YouTube… and Linkedin
   1. Other SM platforms –Flickr, Google+, Tmblr, Digg, etc. Other important social media and benefits (presentations by students

   3.  Word of mouth marketing and theory
   4. Niche marketing: the long tail
   5. Engagement: Building a community
   6. Creating CONTENT

1. Social issues in online communities

Organizational Application of social media

7. Traditional vs. new media; organic vs. amplified word of mouth
   1. Networking – what it means and how it is done; Networking vs. Marketing: conflicts and synergy
8. Brand narrative, storytelling, and brand community
9. Innovation: Wikinomics, lead users, and crowdsourcing
   1. Co-creation and prosumers
   2. Netnography and SM customer research
   3. Forecasting with social media data
10. SMM for intra-organizational communication & collaboration (& supply/distr chain)
11. Mobile Marketing and location-based social media
12. Successful and unsuccessful firm use of SMM
13. Organizational Applications of SMM: Setting organizational goals and tracking them. Measures / metrics of influence –
    1. Google Analytics, Klout, etc. What do they measure? Do they really matter?
    2. ROI of social media efforts.
14. Selling, service and social media – Leads, pipeline, customer service and CRM
15. Developing an organizational social media plan – Integrated marketing, C-S, internal
    1. Integrated with organizational Marketing and Strategy

Workshops

1. Engagement and creating content: Blogging and Micro-blogging
2. Creating a great Fan Page
3. Mobile marketing and Location-based SMM
4. Determining ROI of social media
5. Benefits of Social media clubs and groups
6. Video-pods and presentations
7. Using video

When it comes to ideas, especially CREATIVE ideas: Groups Kill!

See my previous post: http://wp.me/pdSfz-dC

Course Topics

1. Types of social media: blogs, micro-blogs, networking, media sharing, special interest
2. The “Big Four” – Facebook Fan Page, Blog, Twitter, YouTube, (and Linkedin)
   1. Other SM platforms – YouTube, Flickr, Google+, Tmblr, etc. Other important social media and benefits (presentations by students)

1. Word of mouth marketing and theory
2. Niche marketing: the long tail
3. Engagement: Building a community
4. Creating Content

1. Social issues in online communities

Organizational Application of social media

7. Traditional vs. new media; organic vs. amplified word of mouth
8. Innovation: Wikinomics, lead users, and crowdsourcing
   1. Co-creation and prosumers
   2. Netnography and SM customer research
9. Brand narrative, storytelling, and brand community
10. Networking – what it means and how it is done; Networking vs. Marketing: conflicts and synergy
11. Mobile marketing and location-based social media
12. Successful and unsuccessful firm use of SMM
13. Organizational Applications of SMM: Setting organizational goals and tracking them. Measures / metrics of influence – Google Analytics, Klout, etc. What do they really measure? Do they really matter? ROI of social media efforts.
14. Developing an organizational social media plan

Workshops

1. Engagement and creating content
2. Creating a great Fan Page
3. Mobile marketing and Location-based SMM
4. Determining ROI of social media
5. Benefits of Social media clubs and groups
6. Video-pods and presentations
7. Using video 

Student reports

1.  Presenting pictures: Flickr and its competitors
2. Micro-blogging: Tumblr
3. FB competitors: Google+, Ning, MySpace (emphasis on G+)
4. Location-based: Foursquare and its competitors
5. Promoting content: StumbleUpon, DIGG, Technorati, Delicious, etc.
6. Influence measures: PeerIndex, Tweet Grader, Klout, etc.
7. Video tricks – winning on YouTube

Please post suggestions here or at the FB fan page: www.facebook.com/SMM4RU

Happy 2012 to all!

An earlier post that generated “crowdsourcing” help for the course design is here: http://wp.me/pdSfz-aF

Xerox invented the Mac

That seems a strong statement. But read the excellent account that I have ripped from the WSJ:

“At Xerox in the 1970s, a group of brilliant researchers invented the personal computer—they called it the Alto—complete with onscreen windows, menus, icons, graphics and the mouse, all more-or-less as we know them today. Alan Kay was foremost among these genius innovators. Mr. Kay built, in turn, on the 1960s inventions of Douglas Engelbart. Mr. Engelbart was first to develop the mouse, the onscreen window, and the whole idea of computers that did more important things than compute. He wanted computers to solve everyday problems, do word-processing and make pictures and graphs instead of (only) performing complex numerical calculations, controlling intricate machinery, and keeping inventories and payrolls up-to-date.

Corporate Xerox was unimpressed with the Alto. It was expensive, and who needed a personal computer anyway? “Personal computer” sounded like “personal aircraft carrier.” The market had to be smallish. Xerox accordingly made a deal with Apple whereby a group from Apple was ushered into the top-secret research boudoir in Palo Alto and allowed to look and ask questions. Jobs led the Apple group, and he understood right away that the Xerox researchers had done something tremendous. They had made an easy-to-use computer that spoke pictures instead of numbers. Jobs saw that a cheap version of this elegant computer might be gigantically popular and hugely important. And he ran the project that rolled out the Apple Macintosh in 1984.” (see full WSJ article by David Gelernter at GelernterArticle )

Xerox saw no potential in the device so they let the Apple Engineers come in and see their wonderful invention!

“Real artists ship” or Real innovators go to market!

Steve Jobs and Apple did not invent the GUI, or the Icon, or the mouse, or really any of the features that made the Mac revolutionary – the guys at PARC did – but Jobs and Apple brought the Mac to market. As Steve jobs said in the Atlantic link below: “Real Artists Ship”. Xerox invented; Apple innovated.

Coolest Show on earth (WSJ)   GelernterArticle

Praise for Bad Steve – The Atlantic http://bit.ly/pDJ6Tw

1. The organizations were not “user-centric” – they were instead “doctor-centric”,
2. Both had distinct “silos” and difficulty with cross-departmental cooperation and innovation, and
3. Government and third-party payers.

Despite the incredible growth as Higher Ed moved from an elite luxury to a middle class requirement, the dominant business model and primary delivery process hasn’t changed much in 400 years. Ironically, organizations that serve as centers for scientific research and innovation have not innovated despite incredible growth and skyrocketing costs.

Customer- and user-driven innovation

Readers of this blog know that I believe that innovation starts with a deep understanding of user needs and ideally draws users and customer into co-creation and collaborative innovation.

Customer-centricism drives innovation in many industries, but in education it is not simple to define the customer. Are customers current students? Employers? Alumni? Parents and government (who pay)? Each of these groups may have different views on needs and what would improve the service.

Most colleges now have students evaluate their professors. Some universities (especially teaching-oriented schools) weigh the ratings in pay reviews and tenure or promotion decisions.

Are current students the customer? Students have a wide range of reasons to be in college including: parental pressure; credentials for a job after school; a relatively safe and enjoyable place to continue their high school experimentation with sex, drugs and liquor; and (hopefully) studying something that they are interested in.

Scholars have argued that attempts to focus on current student feedback have resulted in dumbed-down courses and less focus on cheating. See:

For how student evaluations and course selection dumb-down courses: http://www.sciencedirect.com/science/article/pii/S0272775703000256

For how student evaluations taught a professor not to enforce the honor code:  http://t.co/tt9ppan via @rogerschank

Math is hard and writing papers are a drag. Through course selection and student evaluations rigor and demanding assignment decrease. As the saying goes “a college education is one of those very few goods for which the less the buyer gets, the more he likes it.” Once again: Are current students the sole or even primary customer for Higher Ed?

Who do you think universities should consider the customer? Who can they use as innovation partners?

Mechanically measuring someone’s influence using an algorithm is going to be imprecise and quirky. Does anyone really believe that Justin Bieber is the most influential living being? or even the most influential online American?

I check my ratings on PeerIndex, Klout and TweetGrader and my rank on SMM marketing professors list, but don’t get distraught when I have slipped a point or another highly followed marketing professor has emerged. It is kind of fun to see how I and my online friends are rated and ranked.

What is the problem?

I am not looking for a job, selling my consulting services, desperate for a free giveaway or in need of approval. But others on twitter are. Recent WSJ and NY Times articles have shown that job hunters were screened by influence scores and some have begun putting them on resumes! Hiring decisions have been based on scores. Companies have offered previews or free goods or services to “high influencers.”

Klout is preying on these trends as it tries to make its site more “social.” Special offers for tweeters with are highlighted. And everyone can award 5 +Ks a day. For now the +Ks don’t mean anything in the Klout rankings but they give us a chance to pat each other on the back (FollowerFriday every day!) and keep us coming to the site. Watching the site daily we should get caught up in the trend of our score and worry about it. [I confess that I now visit the site more often...] Increased focus on influence measures matters since:

• Measuring an activity changes it.
• People will try to behave to the measure.
• Many will cheat. (See Atlanta Public Schools)

In some of his recent columns Mark Schaefer has reported the despicable ethics in SEO: How long till they spread to SM influence? How long till a large number of tweeters decide:

• To follow or follow-back based on solely on influence scores,
• To increase frequency of their posts significantly
• Choose post content based on RT rates, and
• Hire fake re-tweeters?

Twitter will be a different environment!

What can we do?

Some actions to help save SM include:

1. Don’t focus on our Klout score
2. If we refer to influence scores refer to two or three measures instead of just one.
3. Try to remain true to our interests and relationships on twitter.

Other posts see:

Not group brainstorming or focus groups — they kill

One technique that has been rigorously researched for over 50 years is the use of group brainstorming and user focus groups to generate and evaluate ideas. The evidence of these studies is consistent and conclusive:

Group methods (compared to individual ideation):

1. Produce significantly fewer ideas
2. Generate ideas of lower average quality
3. Produce fewer of the very best ideas, and
4. In addition, groups are not effective at evaluating or ranking generated ideas.

Why then are focus groups and group brainstorming still employed to generate ideas from users? I used to believe that charlatans ignored the research and oversold their expert skills at running such groups. But I now realize that there is more to it than that: these group processes create an illusion of effectiveness to everyone involved.

Group Brainstorming and Focus Groups are FUN

Participants enjoy the process, believe that they individually are personally responsible for most of the ideas produced, believe that the group was creative and very effective, and leave the effort committed to the ideas generated. There actually is value to an organization of this positive illusion: it is often hard to sell innovation or new ideas to an organization – this enthusiasm can help innovations go forward.

How to combine the bad and the good?

Participants don’t come up with the best ideas but they believe in the ones they do come up with… People already employ techniques to help overcome group idea-cide: for example it is common to have participants individually brainstorm and write down their ideas before starting a group ideation effort.

If I were leading a group brainstorming or focus group for innovative ideas I would start with individual brainstorming, collect all the individual ideas, and then have the brainstorming session. I would either ignore the group ideas or more likely collect them as if they were the ideas of another individual and then separately evaluate all the ideas.

[Of course this puts off the questions of how to evaluate the ideas for another day... research also indicates that groups do a bad job at evaluation...]

Earlier posts on idea-cide from group efforts:

• Brainstorming groups still kill ideas: http://t.co/SdOlJN8
• Confessions of a focus group moderator: http://t.co/xYiFrhi
• Expert moderators and Focus Groups: http://t.co/NRAnso7

[I also have an upcoming article in the Journal of Product Innovation Management on this topic. I will post that article when the editor gives me permission.]

Bank of New York Mellon Corp. has been fighting accusations that it took advantage of clients while trading currencies… BNY Mellon priced 58% of the currency trades within the 10% of each day’s trading range that was least favorable to the fund, the analysis shows. As a result, the trades cost the pension fund, the Los Angeles County Employees Retirement Association, $4.5 million more than if the average trade occurred at the middle of the trading range for each day, the analysis showed.

A BNY Mellon spokesman confirmed the accuracy of the data and… said there was nothing improper about the practice. It said clients like the Los Angeles pension fund knew—or “should have known—that the bank doesn’t act in their interests when pricing the trades.”

How to Serve (Wall St) Clients

Less sophisticated clients of Wall Street firms such as BNY Mellon, Goldman or Morgan should know that there is a standard procedure for dealing with them, reminiscent of a famous Twilight Zone episode. Aliens invite humans to visit and have their hospitality pre-planned in a book that a scholar has tentatively translated as “How to Serve Man.” [Spoiler] Warm feelings turn to horror when the scholar figures out that the book is actually a cookbook! Similarly Wall Street firms have standard rules of “How to serve Customers.”

Best pricing is for large trades with sophisticated clients who check prices with multiple firms. Prices get further away from market prices as: (1) clients are less sophisticated, (2) clients are perceived as loyal customers who don’t price check (or as stupid), (3) the client position is known, so traders can guess which side they will trade from, and (4) for smaller trades. Since the municipal clients are less sophisticated, loyal, clear their positions with the bank, and trade in odd lots, they get really bad prices. To quote Animal House - a classic movie about investment bankers in college – when a distraught character sees what happened to his brother’s car, his partners, er-frat brothers say:

You F***ed up: You trusted us!

Next quarter when Goldman again reports that they made money trading every single day of the quarter bear in mind that much of it is not trading in the sense of taking real market risks but instead “Serving Customers” (well done, no juice left).

WSJ article:                         http://dld.bz/abhDn

I have collected my top nine quick indications that I screwed up below.

Number one of course is the DM we all hate:

Hey, I just added you to my Mafia family. You should accept my invitation! Click here: http://t.co/thedon

What can I say? I would like to urge him to go back to Facebook and help tie up the world’s internet during the afternoon playing Farmville, but a quick unfollow is best.

The remaining indicators are in reverse order, ala David Letterman:

9. Make some money tweeting, sign up to for Sponsored Tweets! http://bit.ly/spamu

Bet I’m going to really enjoy reading your tweets! Let’s sing the SPAM song…

8. BBW lovers join me on my webcam. I can travel to help you relax on business trips. http://warmup.com

Even if the #FF list is from a trusted twitter friend you should still check out the profiles before following. You don’t know everything about your twitter friend or what he does away from home…

7.  Home Teeth Whitening – What is the Best Teeth Whitener?: http://bit.ly/whiteisright

Everyone on twitter should have gleaming teeth by now!

6. Get followers fast! Today’s giveaway: 5,000 followers!

I bet that they are a fascinating group of tweeters! In The Tao of Twitter, Mark Schaefer discusses advising a friend to close a twitter account after he had “enhanced” it with one of these services.

5. Gothic, vampire or punk friends in your area? Our site 100% free http://bit.ly/biteme

Well she was all dressed in black in her profile picture…

4. NewlyFollowed11 uses TrueTwit validation service. To validate click here: http://truetwit.com/pzzl

Even though the leading influence measuring firm claims that there are good bots and bad bots, I empathize with the urge to connect with real people. However, take the time some day to actually play the truetwit letter game. After you decipher the code their pitch to join is NOT primarily to avoid BOTs, but instead to avoid their own service!

Truetwit is a service similar to the window-washing service that used to be offered at the tunnels exiting Manhattan: A guy would throw mud on your windshield and then would offer to clean it off for a couple bucks.

TrueTwit offers to throw no more mud on your windshield if you direct them to some of your new friends. Some friend!

3. The ***** Network is about to change the face of network marketing http://bit.ly/sucker

The internet is full of questionable quasi-pyramid schemes. Our’s has a celebrity brand name! What celebrity would be suitable? Maybe a modern-day Pat Paulsen? Or a businessman who has taken more money from banks through serial bankruptcies than Willie Sutton could have ever dreamed about?

Finally #2! The tweet that ranks only behind “join my Mafia family”:

@wisetweeter1 , @wisetweeter2 , @wisetweeter3 and 7 others unfollowed me today … checked by http://whnrs.com

Ten people took the effort to unfollow you today? Must have had good reason… Is it because of the whining? Some of your other recent tweets:

• Only one person RTed me last week!
• My mother doesn’t really love me.
• @realJonasBrothers and @JustinBieber have not followed me back!

Nine is an odd number for a list like this: 10 or 12 is better. Do you have a suggestion of one or two I missed? Please comment!