Building a business starts with a mission, an idea, a desire to bring a product or service to a wanting market. But what if you alone are the product, the marketer, the designer, and the administrator, a one-woman business band? How can you maximize your reach, market yourself, and cultivate your business in an effective, timely way? Luckily, social media platforms (Facebook, Instagram, Google analytics, Twitter) and their measurement systems have provided a relief in this entrepreneurial scenario, giving easy insights into potential target markets, post performance, reach, follower growth, and more. This technological milestone in marketing has allowed small business owners to reach a wider audience, gauge the success or failure of digital campaigns, and have a wide-angle view of potential consumers. The ease and availability of social metrics in these realms have also made it possible for individuals to pursue their areas of interest, making careers out of things they love to do. Nancy Silverman, a Toronto-based yoga instructor and Kombucha expert, did just that.
Media. Monitoring. No one understands the utility of social media in the development of products better than than those in the thick of the media monitoring industry, the champions of multiple products which, like digital butterfly nets, capture curated data from the far corners of the online world, with the aims to organize, analyze, and report on that data in an impactful way. In effect, social media research in this industry IS the product. In Canada, a competitive set of top industry players, such as Cision Canada, have made the monitoring, organizing, and analysis of traditional and social data their full-time business by developing digital media monitoring/analysis platforms and bringing them to market. And, given the nearly daily shifts in digital technologies and modes of communication, pushing out new user-friendly, contemporary communications products for clients (mostly those in PR, marketing, advertising, and communications across an expansive list of industries), and meeting the demands of the market in a timely and effective way, are vital in staying relevant to the needs of the communications and PR professionals who’s primary need is to keep their fingers on the pulse.
From minor alterations, to complete start-to-finish designs, as many as 30% of online shoppers see value in being able to customize products to their liking (Bain Insights, 2013). Co-creation is not a new concept, but with the growth of social media platforms, companies are now more connected than ever to their customers.
After being listed as number five on Fast Company’s Most innovated social media company of 2017, Taco Bell is making a way for itself by focusing on the customers for product development and research. To reach customers in a more personal sense, Taco Bell has been using social media platforms such as Twitter and Instagram to review customers complaints, ideas, and creativity. “Instead of sitting behind glass and listening to a focus group, we now have access to 20 million consumers and can be inspired by them and connect with them and have real relationships with them (Lacy, L. (2016, November)”.
IBM is an American technology company with its headquarters in Armonk, New York, United States. IBM manufactures and sells computer hardware, middleware and software, and offers hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM is also a major research hub that holds the record for most patents generated by a business enterprise for 24 years in a row. In 2001, IBM introduced the Jam concept in the form of a social computing experiment to engage its workforce. This was completed via a web-based, moderated brainstorming session. Starting in 2007, IBM opened the sessions to external organizations similarly intent on fostering innovation through online cooperation. IBM’s Innovation Jams have been used by governments, academic institutions, businesses and other organizations to address proposals ranging from employee involvement, urban development, to global community engagement through public service. “Jams drive IBM’s research mandate forward. IBM uses the most cutting edge technology to glean information from the data collected. Jams bolster organizational value as specific recommendations are provided to the participants upon completion. Jams are the most effective style of crowdsourcing as they target groups of people with common goals.” Christopher Murray, Technician in Development, IBM
The Royal Ontario Museum is one of the world’s leading museums in regard to natural history and world cultures. Given this fact, one might assume that an institution such as The ROM would want to keep it’s knowledge within it’s walls; however that is not the case. The ROM is arguably one of the most social and tech savvy learning institutions in the country. This is due by and large to their philosophy on social media and their social media coordinating team. Through online communication, The ROM hopes to build strong community connections and encourages individuals to engage in conversations and debates with their experts and employees directly.