12/26/07

It’s time for new year’s predictions, and I’ve decided I’m just going to offer up one big one. Here it is:

In 2008, people will widely acknowledge and accept the notion of “relationship capital.”

One way that will play out specifically, I predict, is that, this time next year, we’ll be talking about how social networking really got traction at work—in the enterprise, as well as continuing to gain adoption in many small businesses.  I really believe that the tool of social networking will come to be seen as having its own form of currency—relationship capital—which can enable that tool to achieve real benefits, real ROI, in advancing business objectives.

So, yes, friends—“relationship capital” should definitely be on your buzzword watch list in 2008!  And there’s a similar term I like as well: “social capital.” I was at an Ignite event in San Francisco a couple of months ago and heard an impassioned presentation by Tara Hunt that she called “Forget Venture Capital, Raise Social Capital!” I thought it was great—very fitting in its context for Web 2.0 startups, but even more so now, I think, in the broader business world as we move into 2008. The thing I like about Social Capital is this: the more you give it away, the more you get back in return.

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12/12/07

Okay, social networks for pets are nothing new (just Google that term). But here’s a cute twist. Are you a dog owner or dog lover? And maybe an art lover, too? I don’t own a dog myself, but one of the coolest new sites I’ve seen lately is Mog-Dog.com, a new online business created right here in the Twin Cites. It was founded by a colleague I used to work with and his wife, and they’re both accomplished graphic designers (which you can tell!) Mod-Dog is not a social network per se, but talk about a way to involve a community, and to do it in such a visual, fun way! Come on, dogs need their own note cards and Christmas cards—didn’t you know that? Okay, okay, their owners need them. But how fun! (And you could always have Fido sign with a paw print.) Not only cards, but you dog lovers can now decorate your pad with a high-quality modern art print of your very own breed.

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12/04/07

UPDATE (12/19/07): One last update on this story, then I’ve had enough. Forbes ran a piece this week entitled How Silicon Valley Says ‘Sorry’—in which it concludes “apologizing pays.” Well, despite the fact that, according to an Edelman PR survey it cites that found technology ranked at the top of a list of “most trusted” industries, ahead of businesses like banking, telecommunications, and healthcare, I still say Facebook waited too long for this apology—and that the firm lost valuable reputation points in doing so.

UPDATE (12/14/07): The Wall Street Journal ran a great commentary piece on this topic.  Here’s how the IAB Smart Brief summarized it: ”Facebook Dustup Shows the Market Works - When Facebook tried to roll out an advertising service that included news feeds of member e-commerce activity, users revolted and the company changed its policy. IAB President-CEO Randall Rothenberg writes in a Wall Street Journal commentary, ‘The Facebook imbroglio is an almost-perfect representation of the power of the Internet to mobilize people to change the Web for the better.’ Rothenberg argues that the Facebook example also makes the case against government regulation of online marketing, since market forces have a self-correcting effect.” And here’s another look at this controversy, this one from the Knowledge@Wharton Marketing site: Who Owns You? Finding a Balance Between Online Privacy and Targeted Advertising.

UPDATE (12/5/07): Zuckerberg Admits to Failure (NY Times)

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ORIGINAL POST (12/4/07): For a company that’s flying so high, you’d sure think they could run their PR better. With the rapidly building negative story about Facebook’s Beacon program for advertisers, the lack of any statement from the company’s chief executive is becoming more and more painfully obvious. Overnight, top blogger Robert Scoble called the company out on this glaring problem, and I totally agree with him. Now is not the time to be silent.

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12/02/07

With the rapid growth of social networking phenom Facebook—and note that this growth is fastest in the 35 and older age group—its impact on the workplace is only becoming more and more apparent. How do you feel about Facebook? Are you using it at work and, in particular, for work—meaning for professional or business-related networking, whether within your own company, or to connect with customers, partners, or colleagues at other companies?  Running a small company, I personally find it a valuable networking tool, especially to stay in touch with my highly dispersed network of contacts.  And I find it so much more enjoyable—okay, FUN!—than alternatives such as LinkedIn, which I’ve used for years.  Yes, the latter is a useful service, but what’s wrong with a little fun in one’s day in the course of staying in touch with colleagues?

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11/14/07

Did you know that spending for social media and conversational marketing will outpace that of traditional marketing by 2012?  That’s the key finding of a survey of marketing professionals conducted recently on behalf of the Society for New Communications Research (SNCR). The purpose of the study was to assess senior PR and marketing communications professionals’ awareness and knowledge of social media and conversational marketing, and their priorities for including it in their strategies and initiatives.

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