How would a museum know if it is successful? How would it measure success? The Mission Statement of the Metropolitan Museum of Art (“The Met”), founded on April 13, 1870, and the largest museum in the US, states, “to be located in the City of New York, for the purpose of establishing and maintaining in said city a Museum and library of art, of encouraging and developing the study of the fine arts, and the application of arts to manufacture and practical life, of advancing the general knowledge of kindred subjects, and, to that end, of furnishing popular instruction”. . Daniel Weiss, president and chief operating officer of The Met, believes museums must remain relevant to a contemporary audience while upholding a mission to preserve human culture for posterity. In an interview with Yale Insights, Weiss articulated the challenges of steering America’s largest art institution, “We have to change with the times but not so much so that we lose our way … if no one is interested in our programs, then they are not meaningful programs.” . Part of the challenge managing a cultural legacy like The Met is its non-profit structure. From its 2016 Annual Report , philanthropic contributions have endowed the museum with about $2.5 billion. The building is owned by the City of New York (NYC), but the collections are owned by a private corporation, totalling about 950 persons. The City approved a pay-what-you-wish  admissions’ fee back in 1970 ($25 per visitor is recommended but a penny would comply with the City’s policy) which contributed only about 13% of 2016 revenue. However, The Met’s operating budget is about $250 million per year. Its use of performance metrics (measuring overall attendance, the number of museum members, the marketability of exhibits, the percentage of the collection on display, the ratio of adult to child admissions, etc.) are not used to plan for an increase in ROI; instead, they are used to measure its kinds of connections with the public. “Museums create social values, for which they are not compensated in monetary terms.” . The Met is deeply integrated within the life of New York City, its donors, and the art world. It plays a substantial role in New Yorkers’ leisure activities and is one of NYC’s most important tourist attractions. As visitors have a strong effect on local economies, especially in touristic locations, The Met monitors the number… Read more »
It is a fact of the internet that every click, every view and every sign-up is recorded somewhere, Depending on your view, this is either very creepy or fantastically interesting,You might be sharing a video here or there to YouTube or some photos to Instagram. And you could be regularly posting to Facebook and Twitter, But if you’re not measuring how those social networks are working for you, And you’re not testing different methods to measure your results, You could be wasting valuable time. “Clear interface, very easy to use. Everything you need to start your social media management and monitoring.” DONATAS BUBINAS,CEO, Velvet. Depending on today’s business, Everyone should take the advantage of using the social media as you need to jump on that bandwagon,So you have to make sure that you are keeping an eye on the social media metrics where you can track and close the loop on your sale.
Supply chain management (SCM) relies on, at its core, people talking to people. Working with vendors, coordinating shipments and carriers, buying stock, fulfilling orders, maintaining inventory levels, forecasting what end users may be looking to purchase in the future – every step of the way involves communication between one party and another. “Social networking is not about socializing, but about facilitating people-to-people communication and collaboration, which is at the heart of managing and executing supply chain processes.” “What is needed [in a dynamic business environment] is a supply chain of rapid response…Many people who work in the materials business [and] talk about supply chains and the speed of supply chains [have historically] thought about systems talking to systems across enterprises and about processes. But in reality, the speed of the chain is not really related to the systems used by the various companies—it’s all about people, and people talking to people”
If MIT Professor Edward Lorenz hadn’t gone for a cup of coffee when he did fifty-six years ago, his 1972 seminal paper, ”Predictability: Does the Flap of a Butterfly’s Wings in Brazil Set Off a Tornado in Texas?”  may not have been written, Robert Redford may not have played a wise gambler in the 1990’s movie “Havanna”, Ashton Kutcher may not have travelled back in time in his 2004 movie, “The Butterfly Effect” to fix his childhood, and perhaps, least of all, chaos theory  may not have been discovered. For those unfamiliar with Professor Lorenz’s story, on that day in 1961, Lorenz was repeating a simulation he’d run earlier — but this time he rounded off one variable, from 0.506127 to 0.506, of the experiment’s 12 variables, representing things like temperature and wind speed to simulate weather predictability. To his surprise, when he got back after coffee, that tiny, tiny alteration (a 0.000127 difference) drastically transformed the whole pattern his program produced, over two months of simulated weather. “It was philosophically very shocking,”  says Steven Strogatz, a professor of applied mathematics at Cornell and author of Nonlinear Dynamics and Chaos. “Determinism”  was equated with predictability before Lorenz. After Lorenz, we came to see that determinism might give you short-term predictability, but in the long run, things could be unpredictable. That’s what we associate with the word ‘chaos.’ ” How does this lesson, that a minute change in variables can have an enormous impact in outcome, affect business product launches today? Let’s look at a recent failed social media effort to access millenials’ wallets. On the surface, it was a winner: the 2014 non-profit industry celebrated a huge success with its major international ALS fundraising movement, “The Ice Bucket Challenge”. The program went viral, raised over $115 million in donations, and attracted 2.5 million new donors . Naturally, the ALS non-profits ran the same program again in 2015, but to their surprise, raised only $500,000, or 0.00434783% of 2014’s donations. So what was the minute variable that had changed in just over a year to cause the failed fundraising? In Philip Haid’s article, The Ice Bucket Challenge Part 2: What we can learn from why it didn’t work , he suggests the ALS non-profits forgot to consider the “why” variable in the program’s 2015 success. “Most people don’t interact with charities on a daily basis the way they do with their favorite brands, so it isn’t easy… Read more »
Each year we print four billion flyers that are read by 81% of our readers, making them the most used source of local shopping information. For Metroland Media, their competitors and readers, these numbers are astonishing. Supply chain management is now more relevant than ever in terms of any organization succeeding. Products need to be properly designed, developed and distributed, while still being cost effective, easily adaptable to changes in the product or market and remain at a high-quality level for customer satisfaction. Metroland makes it apparent that the products they produce find there way into the customer’s hands with the same quality it left their organization. They know that improving their network of organizations and people involved in these processes enhance a variety of factors within their supply chain. Metroland Media is an excellent example of how an organization should run their supply chain and how it can be managed and improved.
At FlashStock, operational efficiency is key to the growth and success of the company. Our core product is custom images and videos taken by our network of global contributors which is delivered to brands around the world through our machine learning technology. Even with this automation, we need to ensure that the customer is properly managed throughout the customer lifecycle. Having better insight into the process, through the collection and use of data, allows FlashStock to scale resources as needed for all client project sizes, effectively manage the pipeline of business, and ensure the proper management of those resources for optimal productivity. Some say having a well-oiled supply chain is a key competitive advantage. FlashStock views the supply chain as key for tracking and measuring that we are going above and beyond for our clients delivering what we promised.
Grey Rock Clothing Co is a one-stop shop for sweatshop-free and organic clothing located in Guelph, Ontario. Founded in August 2012, they have seen wild success in the local community and have created a lot of buzz for their industry and for responsible, fair-trade shopping in general. Since August of 2015 they have been a B Corp Certified Company. This assures customers that they meet the very rigorous standards set out by the B Corp Community. How does a company become a B Corp Certified business? By adhering to some pretty strict guidelines and by doing a lot of research on their suppliers. Grey Rock Clothing Co has to scrutinize their entire supply chain to ensure they are practicing what they preach when it comes to being good for workers, the community, the environment, and for the long term.
Damco is one of the world’s leading providers of supply chain management and freight forwarding services. For more than 100 years, They have been providing customers with logistics solutions that support the way they want to do business, wherever they are in the world. Their strategic approach and hands-on services are extensive and tailored; whether it’s a competitive rate for an urgent shipment or a strategic solution to create short-term efficiencies and build up long-term competitiveness. Damco is part of the Maersk Group. More information on Damco and Damco services can be found on http://www.damco.com.
To a child of the ’80s it still seems unbelievable that vacations today are researched and booked almost exclusively online. I remember visiting travel agencies with my parents. I can recall flipping through the glossy pages of snazzy magazines, always trying to sneak that Disney booklet into a place of prominence on the agent’s desk. I can picture how every “Sunshiny Holidays” guide was divided into country-specific sections, and hotels had a single picture depicting what they were all about. One picture. That was all. To help with the limited visuals were 5-7 sentence descriptions written by the proprietors themselves. So you’d thumb through the guide, gaze at the photos and dutifully try to convince your parents to choose the spot with the best-looking pool. All the while the agent typed away on her keyboard, telling you what was available and at what price. It felt like a simpler time, even if it was a comparatively powerless one for consumers. Alas, I won’t be offering the same memories to my kids (hey!…remember when Mom spent 4 hours staring at her cellphone reading reviews for our one-day getaway to Great Wolf Lodge?). The limited technological sophistication available “back then” unfortunately meant very limited access to accurate, reliable information when booking a holiday. Transforming the Industry The transformation of the Tourism & Hospitality industry caused by the influence and upsurge of social media is nothing short of astounding. Approximately one-fifth of leisure travelers worldwide turn to social media platforms for inspiration within different categories of their travel planning including: Hotels (23%) Vacation activities (22%) Attractions (21%) Restaurants (17%). Along with these sweeping changes, the Travel Marketing Industry has had to adapt to the ever-shifting landscape, finding innovative ways for determining how to create desirable experiences, and secure a high number of bookings. As early as 2011, Ryan McElroy, a recognized leader in the travel and hospitality industry, discovered that many travel agencies were still operating from old blueprints. They were missing opportunities to generate bookings because they weren’t harnessing the social media and digital platforms available. As a solution, McElroy created Travel Agency Tribes. Travel Agency Tribes is a SaaS (software as a service) company that creates all the technology required to make a travel agency’s online presence dynamic, easy to update, and adept at crossing all the new channels that today’s savvy travel consumer expects. This Canadian company has its ear firmly glued to the ground. It’s leveraging the very best that social media… Read more »
“You’ve got to start with the customer experience and work back toward technology – not the other way around” – Steve Jobs There was a reason why the late Steve Jobs, co founder, chairman, and CEO of Apple Inc was so successful and revolutionary. He knew the importance of the customer experience first when developing his technology. With the introduction of social media platforms in the last 10 years, companies have the opportunity to reach out to their target markets for comments and feedback in the development of their products.
The company I work for, FlashStock, exists today because brands are trying to connect with consumers and personalize their connection. This brand to consumer connection is driving the ever-growing demand for visual content across digital channels including social media. Reflecting upon the biology of the human brain and how its magnitude processes images 60,000 times faster than written text, it has been proven that major food brands such as McDonald’s, Nestle, and Blaze Pizza are turning to social media to promote their food on photo specific channels like Instagram and Facebook. The aforementioned brands, as well as many other large-scale global brands, are using social media to test and create new products that social media provides to a large community of consumers. These brands can test to the visual appeal of their products and the hype often surrounding these images has been referred to as “food porn”. Representing the necessity of food, for visual and sensual qualities in these images connects consumers as addicts for viewing it. This new concept of “food porn” is what excites and compels consumers to invest in the products being advertised. When the image represents the qualities desired by consumers and an individual’s network comments about it on social media, there is a higher likelihood that others will buy into its appeal. Many global organizations also use social media to easily learn and listen to the reaction of consumers regardless if the audience is reacting positive or negative sentiment towards their products. In 2017 McDonald’s Canada rolled out its “All Day Breakfast” however, consumers took to social media to attack the to be released Skor McFlurry which goes against an allergy free safe haven that McDonald’s is said to be known for. While McDonald’s learned more about what the public perceives them to be, it wasn’t the launch a new product they were hoping for. One other benefit to using social media for product development and research is the ability to test marketing with minimal cost and be able to pivot quickly to make changes. These types of negative events can cost a company revenue, but when done successfully, can present opportunities for dramatic growth. Overall, companies that are leveraging social media for product development and research are being able to bring products to market for appeal and interest much faster. Therefore, companies are realizing higher business performance or return on investment (ROI).
Dubai Autodrome circuit is one of the most modern in the world; it is also one of the most challenging, as it has a combination of high-speed straights and technical corners. The venue is part of the Union Properties Motor city development in the greater Dubai and area. Track experiences give the chance to sample race cars and super-cars through the Race & Drive Center – a perfect place to hone skills and develop better driving abilities.
In the midst of this Social/Mobile Marketing Era, business has changed its focus from being all about maximising a company’s financial return, to real-time connections, and social exchanged based on relationships driven by the consumers. An industry that understands and uses customer engagement as a tool is the beauty industry.
In last weeks post, I discussed the benefits of social media being used at FlashStock to engage employees through the use of a social tool/central communications hub for driving improved business performance. This week, I will continue to focus on engagement, however, one form that businesses are consistently familiar with: customer engagement. I question and explore how FlashStock uses social media as a channel to help with brand awareness, creating thought leadership and market penetration to increase business performance. I think it is important to quickly give you a bit of background to FlashStock. Flashstock Inc. is a Toronto-based B2B tech start-up. We are part of a growing sector called CaaS (Content as a Service). FlashStock is a technology platform used by Fortune 1000 global brands to help accelerate the creation of custom images and videos, connecting a global network of creative contributors. We are partners with Instagram and Facebook, helping businesses generate higher engagement through social and digital channels. Since we are B2B, we use the likes or @mentions as ways to learn about what our clients like and understand their buying process better. Data that helps form what compelled a client to engage with us, helps us understand more about our target audience. As we understand more, we can continue to measure valuable and consumable data in the form of knowledge. As a growing B2B organization, our salespeople sell to business executives who are working over and above and often, over communicated to. FlashStock’s use of social media has been to help create brand awareness, position FlashStock as a leader, and operate as a trusted source. Companies seek assistance through Flashstock to rapidly measure their content needs and keep their clients engaged with relevant content. At FlashStock, we have a well-supported and staffed sales organization which is the main driver of revenue for the business today. As we continue to evolve and have more data to analyze, our marketing team is going to be able to understand what our clients and prospects are interested in. They want to learn about and serve up relevant content in the form of future webinars or whitepapers, which our founding leader, Grant Munroe, is a contributor.
Direct Sales has never been a business for the faint of heart or weak-kneed. Stella & Dot creator Jessica Herrin succinctly expressed this sentiment in a 2016 Forbes interview where she noted the huge ‘ick’ factor associated with the industry. Direct Sales may get a bad rap because of its potential for people to feel locked-in by high quotas, awkward customer engagement strategies and defined territorial boundaries. However, by adopting a social selling approach that’s creatively coupled with the most visually engaging social media tools, Stella & Dot has positively re-shaped the image of direct sales in the jewelry and accessories realm. Under Herrin’s leadership, Stella & Dot is an indisputably profitable enterprise with $300 million in revenues. The company has also paid some $300 million in commissions to more than 50,000 stylists, who keep up to 35% of the value of sales they make. Herrin’s successful approach is an example of how to lead with product, be customer-obsessed and leverage technology. How has Stella & Dot managed to bring these three elements together so masterfully, and which technologies are incorporated into its social selling approach?
TripAdvisor is a good example of how to build successful business and sustain YoY growth by customers’ usage and engagement. Once a website for hotel reviews, TripAdvisor became an online place where customers can plan and book nearly everything for their trip: starting with accommodation, restaurants, guiding tours etc. Nowadays, TripAdvisor provides both its customers: businesses and travelers, a platform to socialize. Travelers share their experiences via reviews and businesses have an option to respond directly to the traveler. TripAdvisor is one of the largest travel sites that offers advice from millions its users. With 465 million reviews, covering 7 million accommodations, restaurants and attractions in 49 markets worldwide, TripAdvisor is branded the largest travel community in the world. TripAdvisor attracts 390M unique visitors every month, more than 280 reviews are submitted to the website every minute and more than 10 000 businesses are added to the website and apps every week.
Deyaar is one of the largest property developers in Dubai, They strive to serve their customer in the best possible manner, came up with the idea which will create value for Deyaar’s customers by saving their time and effort by streamlining the processes and providing an online channel to manage their properties from anywhere.
A communication revolution is sweeping over the workplace as it begins to dawn on company stakeholders that the personal benefits of social media communication could be bolstered in the corporate setting. If using social media for internal business communications sounds like a conflict of concepts, then this blog might change your mind… or not. A few mind-boggling stats: According to SEC filing, for the first time, Facebook’s U.S. ad revenue will be larger than the biggest traditional media companies trailing only behind Google. Updated May 8, 2017 Worldwide, there are over 1.94 billion monthly active Facebook users for March 2017 (Facebook MAUs) which is an 18 percent increase year over year. There are 1.15 billion mobile daily active users (Mobile DAU) for December 2016, an increase of 23 percent year-over-year 28 billion people log onto Facebook daily active users (Facebook DAU) for first Quarter of 2017, which represents a 18% increase year over There are 1.74 billion mobile active users (Mobile Facebook MAU) for December 2016 which is an increase of 21% year-over-year On average, the Like and Share Buttons are viewed across almost 10 million websites daily. Age 25 to 34, at 29.7% of users, is the most common age demographic. Five new profiles are created every second.. Every 60 seconds on Facebook: 510,000 comments are posted, 293,000 statuses are updated, and 136,000 photos are uploaded.(Source: The Social 75 billion pieces of content shared daily as of May 2013 which is a 94 percent increase from August 2012.(Source: Facebook) 50% of 18-24 year-olds go on Facebook when they wake up. One in five page views in the United States occurs on Facebook. 42% of marketers report that Facebook is critical or important to their business. 16 Million local business pages have been created as of May 2013 which is a 100 percent increase from 8 million in June 2012.
Nowadays, social media is part of our daily life. People want to share their everyday experiences with others: they study and work in different cities, they fall in love and relocate to different countries, traveling becomes the normality for leisure and for business, a quiet month in your hometown is an exception. Social media allows us to stay connected with our families and friends; it allows to share our experiences, no matter where we are. Social media also serves as a platform for new opportunities. Businesses advertise new positions and promote their products, employees of the companies re-post and share information with their peers. The best insights for the business of an organization are gained from the inside of that very same organization. Many companies understand this and try to use social media to tap this potential. For global companies with different offices around the world, social media is also an opportunity to connect and engage with current employees. Booking.com is one such international company that uses public Social Media in different ways: it (1) engages with current and future employees by posting the latest news about the company, (2) promotes new positions, (3) engages current employees to share their experiences about the roles, the cities they live and work in, and their experience of relocating to a different country or a new city for a new position, (4) share their passion for traveling.
Hicham Abu Baker, A Jordanian guy who has visited more than 15 countries in Europe, Africa, and East Asia, touring local coffee roasters and houses and spending hundreds of hours tasting specialty coffees and experiencing different coffee cultures. Then he decided to establish a state of art specialty coffee roasters in Jordan, that competes with international brands. His roaster is one of a kind, proudly 100% made with passion in Jordan.
Everybody knows of their community newspapers, but few know that these community newspapers are owned, operated and published in Ontario by Metroland Media. It’s a surprise that Metroland Media is not a common household name, having most of Ontario’s community media market share. In fact many people refer to their community newspapers by the name on the front page, but behind it all, is Metroland Media. Metroland Media Group has gone through many stages of ownership and various titles, but has since been remained Metroland Media Group after the 2006 merge of Metroland Publishing and City Media Group. Torstar, originally The Toronto Star, owns and operates Metroland Media Group, Star Media Group and has a diverse and developing portfolio of operations mainly across Canada, as well as other sectors around the world.
Social media has been helping many companies drive improved performance to their bottom line. Now, in a world where companies are in hyper-growth, employers are focusing on driving higher performance & engagement from their employees with the use of social media and it’s having positive effects such as giving employees purpose and a space for finding like-minded people, faster innovation sharing ideas, and improved communication to employees. At FlashStock, social media helps drive higher engagement and participation from employees which enable them to be more connected through virtual based channels, share information through virtual bulletin boards, and to quickly collaborate on ideas and obstacles. When asked about the benefits that social media has brought FlashStock Brett Mellon, COO, said that “the beauty of social media is the timeliness and efficiency that it brings teams. Traditionally lots of information was researched in order to uncover areas that needed improvement. Now the organization is connected and it is easier to see the response from employees and pivot because that is what happens in high growth companies.”
ISCAR Tools is an industry leading producer of precision carbide metalworking tools and inserts. Iscar provides a wide range of innovative carbide inserts, carbide endmills and cutting tools to tackle most metal cutting applications. They are also globally renowned for providing top notch engineering and manufacturing solutions for a wide variety of major industries such as automotive, aerospace and die & mold production. To reach this level of success, it takes more than just providing a quality product to the market, you need to to be well rounded in all aspects of business. More importantly, you need to be able to manage and integrate all segments of your organizational hierarchy. When it comes to social media integration on a global scale, this is no easy task.
Brands becoming more Digital Consumer packaged goods companies have started to spend more for digital and social media to better meet changing needs of their consumers who are increasingly looking for education and inspiration on-line. Digital and social media helps companies to craft a more personalized and better targeted message to their consumers and, as such, often achieve higher ROI vs. traditional TV media based on one-size-fits-all approach. Parmalat Canada views Social Media marketing as an essential tool in brand building and promotional plans for its flagship brands President, Galbani, Black Diamond, Balderson and Astro. These brands have on-going digital presence at major social media platforms such as Facebook, Instagram and Pinterest. The company seems to having embraced Social Media practices that require more message customization, more personal approach to consumers and faster response time vs. some traditional marketing media like TV and print.
On February 4, 2005, YouTube started a revolution by giving us a seemingly endless stream of content, on demand. You could watch videos by celebrities, tutorials by up-and-comers, or movie trailers released by studios. Over the years, videos continue to be released, creating new stars and streams of content from global contributors. But no more is YouTube the only major player in the game. With over a billion users generating billions of views and hundreds of thousands of hours of content watched, it is only natural that other players would want to capitalize on this captive and attentive audience. Social media giants Facebook and Twitter are getting in on the action by promoting real-time engagement video capability aimed at engaging the attention of global audiences.