Why Social Networks Are Good for the Kids

Sarah Lacy of TechCrunch.com, contends that social networks are good for kids. Her theory that sites like Facebook and Twitter are more about extending your real identity and relationships online and that’s what makes them so addictive: The little endorphin rushes from reconnecting with an old friend, the ability to passively stay in touch with people you care about but don’t have the time to call everyday. It seems Ms.Lacy looks to social networks as extensions of ‘real life’ personalities–but then again, what is real life? As far as her theory on social networks being okay for kids–its a new way to grow up, and for many parents, teachers and professionals, that can be difficult to accept. We’d like to hear your thoughts.

How to Deal with Social Media Conflicts

I came across this post on Mashable today that discusses how to handle disagreements and criticism one might encounter on Facebook, twitter, or even a blog. The article highlights 3 perspectives to remember when you respond to these comments. Here they are:

1. Don’t take it personally
Most negative comments are about what you wrote, and not you. So don’t take it too personally, they just don’t agree with what you wrote.

2. Process before responding
Think about what you write before responding back. Sure you might be tempted to write a quick rebuttal but it is important to understand the other person’s opinion as well.

3. Find something to agree with
Finding a common ground (even if its small) to agree on can break the ice in many occasions.

Do you have any more tips on dealing with social media conflict?

Customer service and your stock value

According to a new article at Business Week, researchers at the Michigan Ross School of Business and Vanderbilt University’s Owen Graduate School of Management, customer service has a direct impact on the investors. The study comparing customer service and stock performance showed that as customer satisfaction scores rose over time, stocks outperformed the market.

When a company’s customer satisfaction score has improved over the prior year’s results and is above the national average (currently 75.7), studies show its shares have a good chance of outperforming the broad stock market in the long run.

Wachovia ranked first for customer service

Its not often that a large corporation, so poorly managed receives awards for customer service–perhaps something was right after all. Wachovia, who has recently been purchased by Wells-Fargo, has received top ranking among U.S. banks in the American Customer Satisfaction Index. According to Birmingham Business Journal, although Wachovia led the banks for customer service in the last eight years, its score fell to 76 from 79 in 2007. The bank scored 79 in 2005 and 80 in 2006, on a 100 point scale.
Can customer service be outstanding even when business is failing?

How to research on a tight travel budget

I recently came across the Project Management Tips blog, and they gave five way to continue effective market research even though your travel budget may be down.

1) Use the phone. People love to give their opinions, so dial a few people up to see what they think about what you’re doing.
2) Use online marketing tools. By using GoToMeeting or WebEx, you can see how your customer will use your product by meeting virtually. And they’re cheap compared to a plane ticket.
3) Send out open ended surveys. Join an online survey company, and send out questions that ask for text responses. You’ll receive rich insight by giving your customers a flexible way to answer your questions.
4) Travel locally. Talk to your customers within your region. They’ll provide some insight as to whether you’re targeting your customers correctly.
5) Double up on your travel. If you’ll already be out of town for a business related event, see if you can spend another day and gather opinions of your customers in the tow you’re visiting.

These are some great tips. Do you have anything to add?

LG enlists director Edward Zwick for ‘Life Looks Good’ campaign

According to Brand Republic, LG has enlisted director Edward Zwick for ‘Life Looks Good’ campaign. Andrew Warner, marketing director UK & Ireland, LG, said: ‘Previously our adverts have promoted individual LG products, but the ‘Life Looks Good’ campaign focuses specifically on building an emotional connection with the brand. To create this, we have used subtle branding and made Mr. Zwick the focal point of the campaign, bringing a personality to the brand.’ It sounds a lot like the American Express campaign, or even the Visa Check Card campaign from a few years ago? Are people really going to respond to celebrities in a finicky environment?

Are you Tracking Customer Feedback?

Jackie Huba recently posted on the Church of the Customer Blog that a CMO survey showed that most companies are not tracking customer feedback. This poses as a huge problem because companies can not improve if they do not track what is being said about them. Here’s a recap of the findings of the survey conducted on 400 senior marketers.

Of the survey participants:

  • 56% said their companies have no programs to track or propagate positive word of mouth
  • 59% don’t compensate employees based on improvements in customer loyalty or satisfaction
  • only 16% said their companies have a routine system in place for monitoring what people are saying about them or their brands online

How is your company listening to customer feedback?

Facebook Goes Back to Old Terms of Service

It seems that Facebook’s new Terms of Service didn’t last too long. According to this post on Mashable, days after the new terms went into effect only 6 percent of Facebook users supported the changes while 56 percent opposed it. This was enough for Facebook CEO Mark Zuckerberg to pull the plug on it.

From now on, Facebook plans on taking in more input from their community members and have even created a Facebook Bill of Rights and Responsibilities Group. Looks like Facebook is stepping in the right direction here.

Community 2.0 Speaker Profile: David O. Sacks

With the Community 2.0 event coming up in May, we’re going to take the few months before that to introduce you to our keynote speakers for this year’s event. Twice a month, we’ll share with you one of our featured key note speakers. Community 2.0 is May 11-13 in San Fransisco, California at The Palace Hotel. This week, we’re featuring keynote speaker David O. Sachs, founder and CEO of Geni Inc and Yammer, and former COO of Paypal.

Sachs was the founder of Paypal, and created a company worth $1.3 billion when sold to eBay in 2002. He then moved to Los Angeles and produced the movie Thank You for Smoking.

You can see David present his keynote speech “How Micro Sharing Tools Make Enterprise Communication More Efficient” on Tuesday, May 12 at Community 2.0.

Listen to David O Sachs’ podcast with Venture Voices here.

Watch the trailer for Thank You for Smoking: