My experiences , my thoughts.. A little bit of everything…

Posts tagged ‘business’

Facebook social marketing hype

Yesterday General Motors announced that they will no longer use Facebook to market their products. The reason they gave is that social marketing on Facebook has not generated any expected sales for them. GM has refused to believe that social networks like Facebook really work when it means business.

Big Question….. Is Facebook really worth that $100 Billion that is claimed to be? after their first IPO?. After all 70% of this worth is calculated based on the projected advertisement revenues it  is assumed to generate from companies who would potentially put their ad on Facebook and pay Facebook for it.  Does the social network marketing really work or it is just a hyped bubble that is waiting to burst soon?.

The valuation of Facebook at $100 Billion is also based on the believe that it would help businesses to enhance their sales based on social buying power via Facebook. The idea is, if someone who uses Facebook, likes a certain product from certain company and buys it, it is very likely that his Facebook friends  are also likely to buy the same product based on that friend’s experience . It is thus assumed that when they see it advertised on their Facebook page,  they are more like;y to visit the product page and may possibly buy it. Trusting a friend’s buying experience  plays the key.   (more…)

Beeznees is Beeznees

I happened to stop at one of the U-Haul truck rental couple of days back with my friend to rent a small size truck to pickup a mattress for my home. The U-Haul rental where I stopped was part of a public Storage company. The person who owned the facility was an Indian Gujarati old man with sharp features, all grey and scanty head, and a toothless mouth. “Hello Sir, I need a small size truck,do you have one to rent?.”, I asked. “Yes, we have one and when can you return it”, he asked even before renting it. I thought, like any other stingy businessman he was expecting me get the truck sooner than the scheduled time so that he can rent it to others. I asked “Isn’t that I can keep the truck for an entire day as per the rental policy, once I take it? Are you going to reduce the price, if I return it back  in lesser time?” I asked. He said “No” and then asked me “What do you do for living?” I said “I’m an IT professional”. Immediately he asked me smiling, “When you charge for a project, do you reduce the cost of software if it was developed in lesser time?”. I just kept quite smiling back at him, thought in mind he is a shrewd old businessman.

While he prepared the paperwork for renting the truck, he kept talking. He wanted to know if he creates a website for his business how he can have Google display his company details on the top of the search when people search for storage companies. I was surprised to hear that. He had a good point. There are thousands of storage companies like him. Who would bother to look for a company that is listed way back in the search result. He just defined a good business rule “Merely having a business doesn’t help in modern world; it should be easier for people to find it too, if you have to utilize internet technology to enhance your business”. I asked him his age, to which he replied “78” years. I was impressed with his internet and computers knowledge at this age and also his curiosity of learning new technologies. At his age when most old men like to relax and not bother about what is happening around, here was a 78-year-old dude who was thinking about expanding his business with new technology. Impressive enough.  (more…)

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