Creating Product Awareness - Introducing the "Product Birthing Strategy"

There are a countless number of companies out there which are working on innovative and disruptive products however, how many of these companies are making efforts to ensure that their target market is aware of these products?

In my opinion, this is one of the biggest gaps which exist for many companies  - Product Awareness

This can create a huge problem for budding companies who require traction and viral growth to survive as well as for well established companies creating new products on an ongoing basis.

Below is a "cookie cutter" approach I have invented which almost any company can follow in order to increase product awareness which will ultimately translate to more revenue. And which company out there doesn't want more revenue?

I call this the "Product Birthing Strategy"

High level explanation of strategy:

Before a child is born/introduced to the world, the child spends 9 months developing certain traits, gaining nutrition etc. Similarly, a product needs time "inside" to become strong and build certain product characteristics which will help the product survive in the outside world

Step 1

Motivate and excite employees who are actually creating and developing the product. If these employees are excited they will be pumped to do their best and will create awesome products!

Step 2

Get employees to promote the product within the company and get other employees outside of the product and marketing team to be excited about the product launch. Basically, create HYPE inside the company so every employee is interested in the product and has the knowledge base to give a 30 second elevator pitch of the product outlining product benefits

Step 3

Each employee should tell at least 3 people about the product outside of the company (close to launch of course) to create even more HYPE and to get feedback from potential users. Have a simple methodology to collect feedback on the product and make necessary tweaks if required (this is assuming that the company has done its due diligence and has already done market research and understood the need for the product and also the target market). Telling the outside world is more to create HYPE and also just a sanity check to make sure the product has not deviated from what it was originally set out to achieve based on the market research

Step 4

LAUNCH THE PRODUCT! 

Motivate the outside world to spread the word about this product so it can go viral.

This is in addition to the marketing campaign, social media initiatives etc...depending on your company and the budget set aside for marketing the product. 

Often times companies only care about step 4 (actual marketing), and steps 1-3 are barely considered, and in many cases completely looked over.

Apple passes Google as the world's most valuable brand!

The top 100 list of most valuable global brands is out for 2011 - and I must say I'm not surprised to see Apple at number 1! Some other brands on the top 100 list are McDonald's, Coca-Cola, L'Oreal, BMW, Disney, Gillette, Google....

Personally, I found the list to be predictable, with a few hidden surprises: Accenture? Walmart? Tesco?

I of course am not a brand valuation expert but based on my knowledge I am a bit surprised to see Walmart as a global brand, and that too at number 15! This puts Walmart ahead of Visa and Disney. WOW!

I definitely feel a sense of Canadian pride to see TD, RBC, BlackBerry, and Scotiabank on the list

And Facebook in such a short period of existence has made it to number 35!

Other tid-bits: the total value of the top 100 has grown 40% since 2006!

How is the top 100 list is created?
The rankings are subjective based on how much a brand name contributes to earnings as well as consumers perceptions of the brand and its future growth potential

My Thoughts
1) I think we will see more changes to the top 100 year after year as brands are growing faster than ever (i.e. facebook), there will be more surprises - the list will become less predictable, we will keep seeing an increase in brands from around the world and perhaps a decrease in U.S. domination?

2) Which consumers are being asked about their perception? How much can we rely on this list? What can we do with this information? How about brand equity, price, and product features? How many global consumers are being asked?

Bendable Technology in the Near Future?

A team at Queen's University has designed a bendable computer; the e-paper technology has been nicknamed the PaperPhone. This PaperPhone is similar to a bendable iPhone and has a few apps, can play music, and make phone calls.

The creator, Roel Vertegaal, claims this could possibly replace computers. In the future, this product will be fold-able!

From a woman's perspective, this can solve many issues. I am definitely looking forward to using this technology in the future. It can solve my problem of having to cram my phone into my tiny purses. Also, no more carrying around heavy laptop bags and trying to maintain balance while walking in heels ;)

How to Monetize Social Media

I attended yet another webinar by Lewis Howes: How to Monetize Social Media
Here are some highlights from the webinar - enjoy!

Some Facts

• Social media usage has been increasing for baby boomers
• More than half of marketers use social media as part of their marketing strategy
• Average american internet user watches 30 minutes of video online per day

Gary Vaynerchuck, author of "Crush It!" mentions the following

• $15,000 spent on direct mail generates 200 new customers
• $7,500 spent on a billboard generates 300 new customers 
• $0 spent on twitter can generate 1800 new customer
  

Tip: If you are selling a service or product using social media don't just straight out sell, it important to be engaging. Also, be willing to do some things for free - gain credibility. 

My thoughts

• Customer engagement is very important; if you are using social media (or any other method) to sell a service or product, really try to engage the customer and understand the pain points and wants of the customer
• Be resourceful: If you are on Twitter/LinkedIn etc and you see a post/question in your area of expertise, be rosourceful and help out - it will go a long way
• Put statistics to use - i.e. social media usage has been increasing for baby boomers. Really think about what this means for your business. Is there a particular way in which you can reach out to these baby boomers? 

Google Translate - Increasing Global Communication

When I came across Google Translate I became an instant fan.

What is Google Translate? Exactly what the name suggests - a feature of Google that translates for you in over 50 different languages. Check it out: http://translate.google.com/#

The first time I used Google Translate was when I was travelling in Spain - and it totally saved the day! I was staying at a Hostel and the front desk lady spoke only two words of English: Yes and No. I myself only know a few words in Spanish so communicating with her was almost impossible and charades did not seem to be working too well - and of course that commonly used phrases pocket book can only get you so far. What to do?

I pulled out my laptop (luckily there was wi-fi) and went to Google Translate - Saved the day!

Since then I have been hooked on to Google Translate. Luckily there is an app for Android and iPhone as well - so no need to carry the laptop everywhere.

There is text to speech capability as well - so no need to even try to pronounce the translation - just play it out loud!

My take on Google Translate

Uses:

• Stay in touch with a friend form another country
• Use it to impress a date ;) 
• Travel help on the go 
• menu/ordering at restaurant 
• hotel info, communicating with front desk etc
• directions
• Translate marketing campaigns & product names 
• As a preliminary test see what a marketing campaign or slogan sounds like in a different language
• Test out product names to see what it would sound like in another language
• Just for kicks
• Many times people like to know what ethnicity someone is...perfect way to throw them off by learning a few sentences in a completely different language ;)
•  Communicate with vendors and customers around the world 
• Reminds me of the time I had to work with some vendors from the orient a few years ago and we had some language barriers; Google Translate definitely would have come in handy then
• Learn the basics of a new language 
• Flexibility of learning the phrases most useful to you

Things to be aware of & perhaps some possible improvement ideas for Google Translate

• Sometimes the translation is only in one gender and for the languages that are gender sensitive the phrase may not come out exactly the way you want it to
• Many times there are different ways of saying the same thing, perhaps Google Translate can add options in case the other person is not understanding what you are trying to say 
• Pronunciation/Accent: i.e. if translating from English to Mandarin, the listen option should play the translation with the accent 

Leveraging LinkedIn

For the 0.001% of people out there who are not familiar with LinkedIn, here is a one liner:

LinkedIn is a social networking site which connects professionals people from all over the world 

Being on LinkedIn can definitely expand your professional network - if you don't have a LinkedIn account I strongly recommend you sign up, and don't just stop there...become an active user as well!

Now for those on LinkedIn, its best to make use of that network and get the most out of LinkedIn

Here are a few tips:

General Tips

• Increase the number of people in your network by sending out invites to all friends/acquaintances/colleagues/former coworkers etc
• Create an updated profile with detailed information (I personally like to upload a picture as well, I find it makes the profile more real, but that's just a personal preference)
• Try to add in as many key words as possible so you can increase the number of search results you show up in
• Join relevant groups
• Update your status based on what it is you wish to get out of LinkedIn and don't hesitate to comment on other people's status as well 

Job Seekers

• Use your network - see which people you are connected to through your network; if you see someone of interest as a 2nd connection don't hesitate to ask a contact to introduce you
• Ensure your LinkedIn profile is complete
• Ask for recommendations 
• Recommend others
• Use the job search option on LinkedIn
• Use the company search option 
• Select the search companies tab
• On the left hand side narrow your search by location, industry, relationship etc
• Keep in touch with your new connections - send a message, comment on status updates etc
• Engage in LinkedIn Q & A
• Add a link to your LinkedIn profile on your resume 

Small Business Owners/Independent Contractors/Freelancers 

• Create a group and focus on increasing the number of followers 
• Post relevant status updates to create buzz
• Engage in group discussions 

Non Job Seeking Business Professionals 

• Keep an eye out for individuals you may want to hire/connect with
• Engage in group discussions 
• Post relevant status updates
• Join groups based on interest 

I Heart Mashable

For the past year I have been frequenting the Mashable webpage.
For those of you who are not familiar with Mashable, time to get familiar... Mashable provides the latest news in social & digital media, and technology! There is an awesome careers section as well - with tons of social media related opportunities from various companies across the U.S.

What sets Mashable apart from the other websites?
The clear layout, easy to navigate, all sorts of social media related news + the classifieds!

Some thoughts:

1. Too much advertising on the side of the webpage recently
2. Would be awesome to have a Mashable Canada version or at least some Canadian job postings
3. Add more news about social media around the world...the site is a little too U.S. focussed