Open Innovation – The New Aha!

While we have been spending time dealing with innovation and innovation management, a new trend has snuck up on us called ‘open innovation’. The term was first coined by author Henry Chesbrough in his path-breaking book Open Innovation: The New Imperative for Creating and Profiting from Technology.

The book brought to attention the growing but subtle trend of companies drifting away from closed R&D and adopting a more open innovation process. Enterprises have always worked hand-in-glove with external partners like universities to match steps with the latest and greatest in research. But open innovation brings in a whole another dimension.

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5 Sins of Social Media Marketing

Facebook, LinkedIn, Twitter, MySpace, Orkut – the modern day enterprises are using social media like never before to stay connected with their customers. There is a tremendous amount of back and forth taking place on these channels. It wouldn’t be hyperbolic to say that these social media platforms witness a deluge of marketing tactics on daily basis.

But here is a great contradiction manifesting itself. While our social media marketing revolves around customer priority and centricity, we ignore customer in a very weird way. We tend to forget the ‘human’ part of our so-called ‘customer’. We forget that our customers possess and display same behavior traits on these online channels as they do in one-on-one interactions. The things that put them off in real world also annoy them in online conversations.

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Word of Mouth Marketing

Last night I decided to get some takeaway food for myself. I was in the mood for some nice Mexican and had almost zeroed in on a place close to my apartment that served good Mexican delicacies. But then a friend told me about this other place that served impressive Mexican food and I found myself standing at their counter placing my order.

Does this mean that the place close to my apartment was not good? No. As a matter of fact if you ask me, I did not find anything special at this new place. The food quality was more or so the same. Then why did I prefer to drive almost 5 miles out of my way and try this new place? Because my friend had recommended it!

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Social Analytics

Not long ago, Christopher Nolan’s cult movie, Inception, received overwhelming viewership and critical acclaims globally. In the film, the protagonist conditions human mind to incite it and draw out a particular behavior. Inception’s success reflects our fixation with the human mind.

For years now, we have been obsessed with the idea of predicting human behavior. We have developed several disciplines that undertake microscopic analysis of human behavior. And now, we have gone a step further with the social analytic solutions.

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Mobile Apps and 2011 So Far

Gartner in its January 2011 report had predicted that in 2011 alone more than 17.7 billion mobile apps will be downloaded and mobile app store revenues will exceed $15.1 billion. Now by the end of first quarter of 2011 we are well on our way to this projected growth.

But along with this we have also witnessed some subtle but significant changes in the mobile apps world during 2011 so far. Let’s capture and go over these changes in brief.

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