09/12/14

Economics: More Competition Leads to Less Competition (the rule of three)

The Rule of Three by Sheth and Sisodia

today’s selection is a (very old post) dated 2006, taken from this very blog …

… in which I was commenting on a book entitled “the rule of three”. I realise that this analysis is still – or maybe more than ever pertinent – and therefore I decided to revive this post, update it significantly, and submit to my readers again today.

Have you ever wondered why most markets – when they are mature enough – end up being dominated by 3 players? Sheth and Sisodia (2002 – buy it from Amazon; note that there are second hand books available from as little as £0.49!) have carried out a study about this and their book is available in electronic format too (buy an kindle version here for £9.99). 12manage.com comments that this is not applicable to Europe. On the contrary, it does apply to Europe too, or any other area for that matter, provided local markets are open to fair and unbiased competition and transparent (I know, this is a paradox, fair competition leads to less competition in the event).

For instance, if you apply this rule to the telecoms market, it is very likely that you will find that the rule applies in each country/zone of influence individually (multi-national markets). It’s not that the rule is false. It’s just that those markets are heavily regulated and therefore, keep introducing new devices to revive competition at regular intervals.

In the US, the situation is different though; a few decades ago, AT&T was broken into small companiesby the regulator, but the rule of 3 applied in the end nonetheless (Stephen Colbert described this phenomenon in a classic pitch, click the Colbert picture below to view an extract). The process of introducing more competition ended after that though, it is not the case in some European markets in which new devices are still being introduced to fuel competition and lower prices (transparency : I work for a Telco, my comment is and will remain neutral for obvious reasons)

Where globalisation has already happened (for instance in the fast food market), the rule will apply across Europe with Mc Donald’s, Quick or Burger King and the rest of the niche players for instance. Does that mean that the ultimate goal of open competition is … less competition? Eerie isn’t it?

A final comment is that not all markets, even in the high-tech sector, are truly global. Whereas the IT market is for instance (same brands, strong consolidation, same products sold from one end of the planet to the other etc.) others aren’t. Besides, a multi-national market (i.e. an addition of heavily idiosyncratic markets in many countries) isn’t really the same as a global market. In multi-national markets, many discrepancies persist, even when the brand itself is global.

Zipf’s law

Seth Godin described this phenomenon in a different way, in his famous opus entitled “unleashing the idea virus“. Here is the passage about what he calls “Zipf’s law” (the book is rather old too, but it doesn’t matter anyway, what Seth described then is still valid now).

There’s a name for this effect. It’s called Zipf’s law, after George Kingsley Zipf (1902-1950), a philologist and professor at Harvard University. He discovered that the most popular word  in the English language (“the”) is used ten times more than the tenth most popular word, 100 times more than the 100th most popular word and 1,000 times more than the 1,000th most popular word.

It’s also been discovered that this same effect applies to market share for software, soft drinks,automobiles, candy bars, and the frequency of hits on pages found on a website. The chart above shows actual visits to the different pages at Sun’s website [editor’s note: in 1996] .In almost every field of endeavor, it’s clear that being #1 is a lot better than being #3 or #10.There isn’t an even distribution of rewards, especially in our networked world.On the Net, the stakes are even larger. The market capitalization of Priceline, eBay and Amazon approaches 95% of the total market capitalization of every other consumer ecommerce stock combined [editor’s note: still in 1996]. Clearly, there’s a lot to be gained by winning.

05/14/14

Reinventing Marketing at Adobe Summit 2014

My first presentation at Adobe summit 2014 in London today was the morning keynote and it’s so packed with information that I still wonder, while I’m writing these lines, how I can summarise so much information. Here is my account of this morning’s keynote in which Adobe delivered gazillion innovations impacting both the field of marketing and digital. 

Adobe: reinventing marketing

Marketing, let’s be clear, needs a hard reset. We work in silos, pedalling heads down trying to get to grips with new tools as they emerge, and each tool that comes in is being added one after the other in an increasingly hard to digest multichannel sandwich. It’s time to reinvent marketing. And believe it or not, Adobe, the Brand famous for bringing software like Photoshop and Dreamweaver, might well be a major player in this entire marketing rethink. I know it sounds zanyish but it’s happening; if the Adobe Marketing Cloud BU has already reached the $ 1Bn mark, something big must be happening.

Brad Rencher in this morning’s keynote, announced just that; but unlike most corporate marketing presentations, Rencher and his teams showed us, in real time, on the screen, how they deliver on their promises. “We hear about changing consumer behaviour all the time but what we are seeing now is that these changes are having an impact on organisations” Brad Rencher said by way of introduction. “We’ve seen this coming for decades as marketeers and now, we have the opportunity for marketers is to reinvent ourselves and create new things. This is something much broader than just marketing”, Brad said, “it’s about reinventing the enterprise”.

 
reinventing marketing
 
Adobe’s Rencher, Senior Vice President and General Manager, Digital Marketing Business Unit at Adobe Systems ready for a hard reset of marketing
 
Adobe’s CEO Shantanu Narayen stepped in and delivered his vision. “Technology isn’t enough. Enterprises will have to break the silos and listen to customer expectations”. This is in fact what Adobe did for themselves. By moving all their business into the cloud : the creative cloud.  Their whole business model has changed. They were able to embrace this humongous change even though their existing business model made up 70% of their revenue. Tell us about people entitled to talk about digital transformation to others. “This means  reinventing everything and break through the clutter of the buzzwords and deliver outstanding customer experience” Narayen said.
 
How will we unlearn marketing
 
Reinventing oneself is the challenge but “unlearning is a huge hurdle” Brad Rencher said. Like driving in London when you learnt in the States for instance. So how we in the industry unlearn marketing?
 
“Imagine there are no bosses, no hierarchy, no processes … What would marketing look like if we started with blank sheet. Then we’d focus on doing just one things, that is serve our customers” he said. Like jumping on new channels as they emerge and adding channels on top of channels means that we are working the wrong way. We need to be backwards compatible but this is a huge problem because we’d have to ditch everything we do at the moment.
 
Adobe marketing cloud is aimed at doing that
 
Marketing cloud handles the whole process from cradle to grave: analytics, campaign, experience management, media optimiser, social and target. By feeding existing analytics data into the media optimiser adobe is able to make clients save 50% on their SEM for instance. The platform is huge and supports zillions of transactions every year and Adobe comets on pursuing their effort of innovation to support marketeers with their challenges due to fragmentation. In the new version of the marketing cloud platform there a re new tools aimed at solving such issues.
 
Brad took two examples: profiles and content. The profile management service will enable users to use profiles through all existing channels to run their marketing campaigns without having to manage different profiles. As to content, adobe has worked on a system to help users move faster by creating an assets library to speed up the sharing of content assets across platforms and users. Marketing mix planning gives hints as to where marketeers should spend their dollars. And once the recommendation has been issued, marketeers can also use the platform to execute that campaign.
 
And of course the platform is linked to the company’s CRM, and ERP and all necessary back end systems.
 
Marketing reimagined

This is “marketing reimagined” Brad said and he and his teams went on demonstrating how they deliver this directly from the screen. The demo which impressed me most was that of the mobile app development system which gives you hints as to the amount of savings which can be derived from that. Here is how it works :

  • Understand our client as a whole person : never lose sight of customer. Not the media plan view or the CRM viiew of the customer but all bungee.ed together, the real view of the customer. This is what analysts call emergence. This is not just a data store, it’s about taking that data and turning it into useful information. Master marketing profile takes information for of all sources about your customer and sharing it with other employees, it’s some sort of superior webs analytics inclusive of information from social media. Profiles can be grouped into what Adobe calls Audiences. All profiles are shared in an anonymous manner and Adobe insisted on maintaining the highest standard of data privacy but the profile core service is also able to merge. Social media and buying media from an indentified existing client for instance; this enables Adobe to bridge the gap between behaviour (through analytics), assets managements (like items of a marketing campaign which can be generated directly from within the marketing cloud platform) and even the campaign management therefore delivering on the promise of a non fragmented marketing environment sketched out by Brad Rencher earlier.

 
reinventing marketing
A holistic view of Marketing … at last, all unified through Software. Some found it funny that we had to have Software to do that, but in fact, ERPs did this to HR & Finance and many other areas 15 years ago… I’m not surprised
  • Burst of creativity : we’ve had our moments with “cute display ads” Brad said but one has to move beyond this Brad said. We have the data now we must deliver the right experience with the help of the data that we have. Adobe experience manager is about that. Assets can all be inter connected and deliver for desktop and the mobile web. Brad has focused on mobiles in his presentation. Consumers want apps but creating deploying and evolving these apps has never been more challenging. But are we thinking broadly enough? We need to make apps easier to develop. Adobe has development is making it possible to create and maintain mobile apps with drag and drop applications and that included e-commerce applications too. A lot of what we see in the mobile application space is similar to how websites were built 20 years ago. One of the biggest challenge is, despite what people think, bringing the app to a phone. “We want to to make this an accelerated experience” the Adobe rep said on stage. It’s done on IOS only and IOS 7 only though, but the landscape is very fragmented and poses a real issue to marketers. It also enables marketeers to test the look and feel of the new app without talking to IT nor contacting the many agencies involved in the development.
Time will tell us how marketing has been reinvented. Software can certainly trigger behavioural changes, but it will also require a fair bit of change from the people point of view, a challenge which Adobe is ready to tackle as well, knowing that they are very active in various in-job training programmes to help marketeers evolve. They sure have a long way to go.
 
Evernote Snapshot 20140514 092924
 
 Shantanu Narayen … reinventing marketing
03/11/14

Is Marketing Automation A New Marketing ElDorado?

$-smallJudging by the numbers delivered in this Salesforce Slideshare presentation, I would tend to say “yes”. Judging by the response I’m getting from my clients, I’d say “definitely yes”. There is this realisation by companies that nurturing visitors, leads and clients can lead to something.

Marketing Automation adoption on the rise

As a matter of fact, I would call that plain marketing, not marketing automation. It seems that marketing has strayed too much in the past 20 years and that we are discovering, at last, that delivering the right message at the right time to the right people is more effective than drowning them in useless information they don’t want to read.

This, in actual fact, is what we witnessed on this side of the channel when we looked at the results we were getting from marketing automation: while email opening rates fell sharply to less than 6%, we were able to make them take off back to previous levels (at 18%, i.e. 6 times more) with the proper use of profiling and behavioural targeting.

Who needed proof of that? Now, I can believe that marketing automation adoption will be on the rise in the next 3 years.

02/19/14

The path to Big Data: Challenges and Opportunities

Big dataThe New Jersey Institute of Technology’s Online MBA program sent me this infographic entitled “Data Mining and Decision Support Systems“, in which the university describes big data and data mining as the new way of carrying out market research. As a matter of fact, data mining isn’t new – I first heard about it in the 1990s when it started to become fashionable, namely in the Banking industry – and it is not directed at “new  data” but “existing data” as is described in the infographic.

If data mining (or even Big data for that matter) per se isn’t innovative, massive open databases, and unstructured data like those gathered by Facebook and Google actually are the new kids on the block. NJIT even heralds these new giants as the future major players of the data mining industry. To an extent they already are.

And true enough, data mining is bound to become, at last, a major player in the Marketing field for the years to come: when it comes to clients … and prospective customers alike (that’s the real novel aspect of it, we can now gather information about clients to be).

Challenges related to big data implementation

Yet, many challenges will have to be overcome by businesses which want to benefit from this new wave of market research brought by the big data era : improving data quality is one (this is why the retail industry is ahead of the game: check-out data is massive and squeakily clean), allowing time and resources is another, not to mention knowledge and training and, last but not least, internal limitations as to how data can be shared across departments. No wonder that 1% only (according to Information builders) of company information is used at the moment.

Now here’s the challenge, and only those who are able to overcome it will be able to reap the benefits from these new marketing opportunities.

Big data

NJIT New Jersey Institute of Technology – Online MBA

12/2/13

5 Marketing Websites you shouldn’t miss

Today’s specials are …

1. The agile designers website:a great place for Web designers, developers and anyone interested in finding design stuff for one’s website. The site boasts 1302 resources but I haven’t checked the number.

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2. Ads of the World and this amazingly beautiful and arty “heaven and hell” Samsonite Ad

Samsonite: Heaven and Hell

 

3. Pure genius: this LinkedIn Resume builder which, obviously, picks up information from your LinkedIn profile and builds an automatic resume effortlessly!

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4. Lifehacker which delivers plenty of tips and tricks for tech users like this great selection of the best iPad covers!

Five Best iPad Cases

5. Lastly, Kissmetrics delivers great tips for you to use Twitter in order to spy on your competitors. Now you know why the company was valued at that level!

09/25/13

Content marketing in UK and Europe: mind the Gap!

eye-large_thumb.gif

There has been questions in certain European countries with regard to how widespread the adoption of contact marketing on the continent could have been (cf. this piece on my French blog, translated into English by the Google robot). Although undeniable progress has been made in the past few years over here in that respect, and though we may even consider content marketing to be a staple of marketing and especially B2B marketing, it is debatable that the adoption of content marketing in certain European countries is ubiquitous and fully understood.

Considering that, in France for instance, 70% of small businesses websites are never updated (source: Marketing PME’s Serge Henri Saint Michel), we can surmise that there is definitely room for improvement.

I found the following survey from the content marketing Institute which shows the huge gap between what we witness in Europe and what is happening in the United Kingdom. The vast majority of UK B2B companies, either large or small, have all embraced content marketing (95% of the B2B companies having responded to the survey have, even though the sample is very small but varied).

Mind the Gap!

Let us make that point clear: the sample is very small, and we have to remain cautious; but at least one feels that there is a major trend and one more European divide in the making. Whereas, on the continent, I am still battling with certain people about the fact that white papers, for instance, are useful devices (I still hear stuff like “White papers serve no purpose!”), in the United Kingdom, this kind of tactics has been embraced fully and totally incorporated within marketing thinking.

Besides, it is only subcontracted by 55% of the sample. There is one more caveat beyond the size of that survey sample though, and it’s that most interviewees are not always satisfied with the results: approximately half of them rate the results of content marketing as average. One assumption would be that competition on content marketing is very harsh in Britain, and the English-speaking world in general, and that doing things differently in English is a lot more exacting than with other, less represented languages on the Internet.

Obviously, in order to stand out from the crowd, A lot of thinking has to be put into your content beforehand . There is a paradox that the areas where people think that whitepapers aren’t any good, are in fact those where it is a lot easier to produce and promote them than it is in Britain, where adoption is broad but competition is fierce. I can predict that a lot will happen in the B2B arena in the near future, at least on the continental side of the Channel.

05/24/13

innovation : what new really means? the data center robotics example

eye-large_thumb.gifWe’ve already asked this question many times. What is innovation? What does it mean to build/sell/buy something “new”. And inevitably, as we ask this question, we leave a door open to interpretation. “innovation is in the eye of the beholder” I sometimes add. What seems obvious with consumer products however, is also true of technological products for businesses ; sometimes, “new” means “only better/faster” and it doesn’t have to be bad … this should make you think next time you shrug you shoulders while hearing “incremental innovation”.

What prompted this blog post is a piece found at datacenterknowledge.com which describes the data center of tomorrow. Or rather, it was some of the comments underneath (sometimes rather harsh) about whether that was or wasn’t new. The bone of contention was the following: while the author contends that future datacenters will be fully automated, the illustration of the Google data center he chose was dismissed by one of the readers as not being that new. True enough, I delved into Youtube and found quite a few old videos describing fully automated storage robots like this one:

And fully automated data centers aren’t to be seen in the future, they are already up and running as in Amazon glacier’s example. In this instance, backup and retrieval is performed by Amazon using a robotic tape library: “when you make a retrieval request, a robotic arm grabs the tape with your data in, slots the tape into a drive, and then your data will be transferred to a hard drive ready for you to access”. All is done in a 3-5 hour window and the principle is that you pay for data retrieval, while data storage is dirt cheap.

Yet, what Bill Kleyman describes is something entirely different. Instead of small robotised data storage room, he believes that whole data centers could be robotised on a massive scale, therefore making it possible for vertical as opposed to horizontal expansion. This is a new revolution I believe. Well… maybe. I first visited Whirlpool’s washing machine automated vertical storage warehouse in … 1986! Robots were moving up and down the alleys at breakneck speed and were able to store products and parts anywhere and very fast indeed. Whether you can apply this to a data center makes no doubt to me, and is certainly a step forward in better and faster data center management. Once again, innovation isn’t always about disruption, it is often about making things better.

innovation in the data center: how robotics is changing the game

The Robot-Driven Data Center of Tomorrow Tape libraries, like this one at Google, provide an example of the use of robotics to manage data centers. Robotic arms (visible at the end of the aisle) can load and unload tapes. (Photo: Connie Zhou for Google) There is an evolution happening within the modern data center. Huge data center operators like Google and Amazon are quietly redefining the future of the data center. This includes the integration of robotics to create a lights-out, fully automated data center environment. Let’s draw some parallels. There’s a lot of similarity between the modern warehouse center and a state-of-the-art data center. There is an organized structure, a lot of automation, and the entire floor plan is built to be as efficient as possible. Large organizations like Amazon are already using highly advanced control technologies – which include robotics – to automate and control their warehouses.

via The Robot-Driven Data Center of Tomorrow.

12/4/12

Yossi Vardi’s top tips for start-up owners – #leweb

Israeli entrepreneur and business leader Yossi Vardi came on stage at Le Web 12 in Paris today to deliver some of his tips. Unfortunately he was a bit rushed out and didn’t have time to finish his presentation. Here are the tips I was to able to pick up as I was listening to him.

[this piece written during a blogging stint for Live.Orange.com]

Yossi Vardi What should start-ups do to succeed?

1- What it takes to succeed?

The most important factor for success is luck. People who are hard-working though are often in the best position for being able to reap the harvest of serendipity. Trying and reaching out to people increases your ability to be lucky, Vardi said.

2 – raising too much money can be toxic

Start-ups which raise too much money want to show their investors that they are using the money and they are often led to burn too much money too early and fail to make a profit

3- right size for team?

Vardi suggests that the optimal size for initiating a start-up is 3. Having only 1 is too hard and above 3 it’s too difficult to get oneself organised.

4 – a mentor is needed

A mentor is needed to help support the team and help them meet the right people Vardi went on.

5 – pivoting

Start-ups have to pivot, i.e. be able to modify the concept so that it adapts to the Market. Pivoting is important but it can also prove that the founders can’t learn from experience if they are pivoting too often. This is a double-edged sword.

6- attracting investors’ attention

Finding an introduction to the right investors is important, this is why networking is key. The is also confirming what we had witnessed in  Silicon Valley last September.

7- exits

There is a debate – in Israel and elsewhere – between experts about whether it’s better to do an early or late exit. When doing exits, one has to remember that one is not selling one’s company to another one, one is selling to an individual Vardi said.

As mentioned above, Yossi Vardi’s presentation was unfortunately interrupted. There a many other recommendations Vardi can deliver to entrepreneurs, we’ll probably have to wait until the 2013 edition of Le Web for us to hear the rest of the presentation and Vardi’s advice.

10/10/12

Social Media in business today : SMI conference – Marrakech

SMI

I will take part in the forthcoming Social Media Impact conference due to take place in Marrakech, Morocco on October 11-12. Here is an interview I delivered a few weeks ago in order to introduce my pitch over there. I have included a video recording of the interview as well as an embed of my presentation.

What is social media’s place in the professional world today?

It’s actually quite different from what it used to be. We’re about eight years after the introduction of social media in the enterprise so my perspective in this SMI presentation in Marrakech will be that of somebody that manages social media in the enterprise and that has been doing so for the last five years. So obviously the kind of place we are in at the moment is that of the structuring of the initiative. We shall see three major phases in the project surrounding the presentation in social media within the enterprise:

  • the triggering of the project: proving the concept and that it is really worth doing.
  • the development phase: how one ramps up and scales.
  • the structuring phase: that’s where we’re at. The structuring of the organization, the processes and everything else.

With the constant growth and reach of these social networks, can a company survive without them today?

Obviously, certain companies can survive without social media, it depends what you do. If you deal in plastic for instance, there are very few chances that you’re going to be a major player in the collaborative web. Now, if you’re in a market like the telecoms, as we are, or in any CPG market, you’ll have to be where your customers are, and customers are there, online. Northern Africa has been absolutely booming in terms of social media usage and so yes, brands have to be where customers are, to initiate or engage in the conversation.

As a company, how do you know which social media fits best to the message you wish to pass along?

There are a number of things I will dwell on in this presentation. To start, I will change that notion of message, because this is not how social media is working. We’re not working with messages but with conversations which we may not have initiated, or at least not in a traditional way. I will also go through a number of business cases taken from Orange from all over the world (Spain, France, England, Romania), and I will go through all these examples and show some of these cases and their return on investments.

What are the major threats posed by the use of social media in a company?

Well, if you don’t handle social media very well then you could face a number of threats. I think threat number one is just not being there, thinking that the conversation doesn’t happen simply because you’re not listening to it. Threat number two is, once you’re actually there and have engaged in social media, letting things get out of hand. So you have to be there nurturing, every day, and be sure to respond to, if not everything, as much as you can. So there are loads of processes and organization: it’s probably easy to do social media for yourselves, but if you’re a large organization then it is very different.

How do you see the future of social media in the corporate world in the near future?

I think the landscape is going to change dramatically in the next few months and years. We’re going to see a lot more governance thrown in to social media and the way it is organized, or rather disorganized right now. There is going to be massive endeavours in terms of how we train people and get them up to speed with regards to social media, and not just the ‘experts’, or the ones in charge, but the entirety of the enterprise.

Video Interview: interview : SMI conference

09/20/12

real influencers in social media may not be those who you think! – #blogbus

On day 3 of the blogger bus tour we had the opportunity to meet face to face with two young start-up managers from San Francisco based Social Chorus an “influence marketing” company named Social Chorus. We were able to spend a whole hour with them and discuss influence, influencers, people-powered marketing and … “the power of the middle”, a concept which I have found particularly appealing.

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Nicole Alvino (above) is SVP and co-founder of Social Chorus, she was “employee number two” in the company. Bobby Isaacson (below), senior Manager, implementation has been as Social Chorus for about three years now (he admitted “feeling like a dinosaur” which sounds strange for such a young man) and does business development that is to say that he sets up partnerships with other companies, in order to be part of their ecosystem.

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Social Chorus (the company was in fact renamed in February 2012 and is the result of the merger of youcast  and the halogen media group) is a social marketing/influencer platform. The main problem the company is solving is that it is virtually impossible for customers to figure out whether influencers are really influential.  This is in essence, what Social Chorus is about: it provides both a tool and service for finding influencers (they might not just be bloggers, but also power twitter users  for instance. There are two offices, one in New York City and one in San Francisco.

NYC and SF: a world of difference…

To European eyes, those two cities might appear very similar but in fact, according to Bobby and Nicole, they are very different. New York is more about media and advertising and agencies, whereas Silicon Valley and San Francisco have always been, at least since the seventies onwards, more about high tech. But this is not all. Mentalities are also very different. Bonding is more difficult in NYC, a very large metropolis where, according to our discussion, people and companies tend to keep things for themselves, rather than share and get together in Californian fashion. And this is what makes all the difference. As I described in my post about Rocketplace, a lot of what happens in Silicon Valley is down to the ecosystem. San Francisco has a leg up in that game. Only Boulder, Colorado and Austin, Texas are adopting the West Coast spirit our hosts both declared.

social media at the forefront of investment

Start-up investment has changed too according to Nicole. “2 years ago, investment was more into media and advertising, now it’s a lot more about social media” she said. This is changing the ball game, Nicole said, “now that agencies are becoming more social they are tending to move over to SF”.

topical and brand influencers … not who you think

Social Choris is aiming at “brands wanting to become more human and having relationships with influencers” Bobby added. But how do you identify them and how can you tell they are really influential? “it’s a combination of art and science” Bobby went on. “There are topical and brand influencers” he said. Social Chorus will traditionally tap into its 1.5 million influencers database but they might also use Kred and Klout. Sometimes the best influencers are niche bloggers through .

social media influence: the pyramid metaphor

“Imagine a pyramid” Bobby went on: “PR handles the celebs, super fans and topical bloggers are in the middle and at the bottom, you have the vast majority of fans and readers who click and comment”. They might not be bloggers, they could just be twitteres for instance. Social Chorus’s focus of the solution is measuring the impact of a conversation with influencers. Manage the relationship over time.

the “power of the middle”

As soon as I can, I will also post a video interview of Nicole in which she explains that most brands are wrong to focus on just the top celebrities. “This can become pretty expensive soon” she said. I would also add that celebrities are often too self-centred in order to be generous. All middle tier influencers on the contrary are more open and more prone to become brand advocates because they will want to develop a relationship in the long term with the brand.

only 10-20% of agencies are ready to do that for themselves

Social Chorus is working with agencies like Edelman, Ketchum and others. It’s mostly agencies who are delivering this service to clients, but there are a few clients like Gatorade for instance who do this for themselves. “What we find is that the interest in that space exceeds the knowledge of how it works” Bobby declared. As a result, only 10-20% of the brand on average are willing to do this by themselves.

One of Social Chorus’s biggest challenges though is to hire developers; there is a lot of competition for developers. A very skilled developer in the valley can be paid $100 k and even up to $ 200 k if he has very special skills it’s commonly said here. As a matter of fact, as an entrepreneur told me at an after work party last night: “the developer in question might even be paid more than the project manager he reports to!”.

Social Chorus can operate over 3 different countries: UK, US and Germany. They will soon launch a new version in 2013, which will extend the service to other countries.