Tuesday, March 30, 2010

BzzAgent and the Social Web

Prior to reading the BzzAgent case, I had no idea that there were companies devoted entirely to WOM marketing. I think it's fascinating, and based on the statistics cited in the case, very effective. Personally, I rely on reviews quite a bit- whether it's finding a restaurant for a special occasion, a new hair salon, or a hotel in Europe for an upcoming trip. And I always place more value on the reviews from people I know, or people with whom I have common interests. I'm very intrigued by BzzAgent's ability to harness this power. I also thought it was great that the company created quantifiable metrics to track the effectiveness of WOM marketing.
In terms of the blog itself, I also respected the goal of transparency that Balter was trying to achieve. In the last year my own company instituted its own blog updated by our CEO. While I don't routinely take the time to read it, I respect the fact that the company is attempting to remove corporate layers and make our CEO relateable and somewhat "hip".
On a related note, as referenced with the Dell and Wal-Mart examples in, "Harnessing the Power of the Oh-So-Social Web", there can be a downside to having such close contact with your customers. I recently read an article in Entrepreneur magazine about how a bookstore in San Francisco had garnered quite a few negative customer-generated reviews on Yelp.com due to its uncleanliness and disorganization. The owner of the bookstore became furious, and started harassing one of the negative reviewers via email. She didn't stop there, and found the reviewer's home address, went to his home and confronted him in person, the ultimate result of which was a "scuffle" and a lawsuit. So occasionally there are consequences from being so close to your customers!

Tuesday, March 23, 2010

Brightcove

It's too bad that Brightcove "missed the boat" with CGM, but I can understand not being able to forsee the incredible success of YouTube. However, I think it's imperative that they continue to develop their publishing-technology platform. Having already been successful with their current platform, continuing to invest in the core of their business seems a sound path on which to move forward. They also have a substantial opportunity to tap into the international markets that are not currently served by any similar company.

Monday, March 15, 2010

Google, Inc.

Google has always had a reputation for unique products, and after ready about their quirky corporate culture, it makes sense. Not many corporations who are as successful as Google list corporate values as vague and informal as "don't be evil." However, with this uniqueness comes an approach that has shown to be profitable, if not somewhat puzzling. I thought it interesting that Google ensures that their search results are uninfluenced, but that they take such an active "ethical" stance on what they will advertise. Being considered a young, trendy company, Google also has the advantage of having somewhat of a "cult" following of users who anxiously jump on the bandwagon to use and promote whatever about Google's latest idea is.
I could see Google successfully entering into facilitation of financial transactions. Trust is a critical element, if not the only critical element when it comes to providing secure financial services. Google has built a reputation of being trustworthy when it comes to the objectivity of their search results, and has built a loyal following, so I wouldn't be surprised if they translated this trust and loyalty into a new avenue.

Monday, March 1, 2010

DoCoMo

I can understand DoCoMo's need to embark on a new channel for generating revenue. However, as someone who had the contents of her wallet stolen a week ago, the lack of security with the FeliCa payment services is concerning to me. What I learned from my experience is that when it comes to stolen credit & debit cards, time is of the essence to minimize the impact of fraudulent purchases by having all of your accounts canceled quickly. But what is critical to canceling these accounts? A phone. And if yours is lost or stolen, along with all of your information, you're even farther behind in cutting off the thieves' spending.
Personal experiences aside, I think DoCoMo is smart to pursue a first-mover advantage with FeliCa while taking advantage of network effects and licensing revenue that come with not holding exclusive rights to the technology.