Look out – the Web 2.0 Bubble is about to burst!

When Hollywood starts making films about business you know something is about to go horribly wrong.

Out soon (at good cinemas everywhere) is the Facebook story – “you don’t get 500 million friends without making a few enemies” – goes one of the tag lines – no doubt in a very deep voice.

I get nervous when film, TV and media generally start over-reporting or dramatising current business stories. Normally over reporting is accompanied by a false sense of security, or hope, or in some cases anxiety, in the public at large.  It typically happens in financial markets. As we all know (but seem to forget all too readily) market crashes in shares or in property are normally pre-empted with a clamour from the media to explain how best to make a safe, fast, buck. And then it all goes horribly wrong at a pace that ensures you can’t reverse your position until it is too late.

So what of Facebook and this Web 2.0 thing, is it about to fall from a similar precipice to those the over inflated financial markets fell from. I wonder.

The BBC News ran a news story the other night about Starbucks on Facebook and why they are there. News? Starbucks have been on it for ages – they have 14 million new latte drinking best friends for goodness sake. It seems to me we have reached a dangerous point in the Web 2.0 world when the BBC News starts talking about social marketing.

News? Main stream news? Starbucks use Facebook – so should your business – Web 2.0 is brill – oh dear it’s like the nonsense that went before the dot com market crash of 2000 all over again. Just keep that Jonah, Robert Peston away from the story - he broke the banks, remember?

I do, however, sense that things are getting a bit overblown – too much hype and too much coverage. So will the Web 2.0 bubble burst?

Could we really find ourselves trying to unwind our social media positions as we see the follies of documenting every skinny, tall, latte and the geographical location of our mobile devices.

The level of information that we present to an increasingly open internet audience grows by the minute – and surely that must be wrong. Do you really want everyone and anyone to know what you are up to now and what you were up to 5 years prior?

Facebook has shifted privacy rules regularly in its hunger to offer the public what it wants and to squeeze out the new kids on the block. Location information being the latest add in. But are we so addicted that this trend will continue? As a Stirling web design and web development business we have seen a remarkable adoption of the Web 2.0 world in business – it offers some fascinating new ways to engage with the market, to engage with people. Some of the tricks are also pretty useful in intranets for business… nice.

Undoubtedly, though, the release of the Facebook film is an interesting point in the history of the Web 2.0 world and that of Facebook – but are we reaching the high water mark of the Social Media web world? I sense we are.

But in true Web 2.0 style – let’s chat more about this on Twitter, Facebook, Four Square, Tumblr etc etc etc. 

LoL! (Thats laugh out loud – if this is being read by a News hungry BBC Social Media Correspondent.)

Young Company Finance Conference – will it blend?

I always feel that the Young Company Finance Conference is the start of a new business year. So first things first. Lets get Phil and Ally (BBC Scotchsterland Hogmymoney Show) to play out the old bad recession focussed business year with a lament and then play in the new business year with a…. hmmm… another lament. Oh well.

I tend to see the YCF Conference as a day to get myself sorted out as the new business year starts – to get re-focussed. This year probably more than ever that refocus activity was a requirement.

Alert folks will remember that we were promised by a man called a Darling in 2009 that the recession would end in Q1 2010 – and technically it did. But recently we have been promised by a man called Dave that we have to pay down the debt and expect tough times.

Hmmm… I didn’t borrow any of that debt… so why am I part of the repayment scheme? However, regardless of my lack of culpability, the recession by any practical measure isn’t ending anytime soon. Flip (substitute your own phrase here ****).

So YCF… what’s the tone this year? Well there was talk of changing business models from The Company Creators, though those models didn’t get an overwhelming reception from Archangels (in my opinion).

There was chatter at lunch about the banks… sorry can’t repeat it… it was all good… honest. Not a lot of banks in attendance actually – so special brownie points go to Llyods TSB (or Group or something) and the Clydesdale for coming to one of Scotland’s leading finance conferences. Hope you got lots of business.

The VC chap from Londonshire at Octopus Ventures (were they the guys that picked the world cup winners?) was pretty good at explaining the type of businesses they liked…. software, low capex, low burn rate, customer focus, alpha iterations, recurring revenue etc. I hate when people talk about you – without realising you’re in the room (we accept cheques payable to cash). 

Blether Media were the token marketers in the room and a good job they did of explaining the social media thing. Much talk of Purple Cows and the guys from Brew Dog dressed as Penguins, and I always like a Will It Blend clip. I wasn’t convinced there were many people pulling on their purple pullovers by the end of the presentation – but it did force me to wonder if we have taken our purple foot of our purple accelerator when it came to exposing ourselves (and my flowing locks) in the social media world. Cheers Kyle – nice one.

Other notable things? Well a number of POC (proof of concepts) did some quick, if perhaps difficult to understand, presentations. Inquisitive Systems I’ve followed for a while and they continue to look really strong, though I did notice that the lining of Jamie’s suit seems to double as a Superman Cape – so that could be an unfair advantage when conquering the security world.

So by day end – where’s my head? A bit clearer – maybe.

Jamie at Inquisitive asked me what I was “taking away from the day”, so after some thought…

• There is genuine concern about the lack of banking support at overdraft level among a wide population of the Scottish business community (in my opinion).
• There is a lack of exits to fund new investments (in everyone’s opinion). 
• There is acceptance that social media marketing works – though it still seems to be an activity dominated by the media companies (in my opinion).

Given the first two bullets it’s a good job the social marketing thing can be done with limited funds! So onwards and upwards with the promotion of our pension advice site.

Just one thing I’d like to know… The UK Debt. Will it Blend?

Would you like a cookie with that?

Increasingly websites are using cookies in a more and more sophisticated manner. Initially they were a handy way to keep things like passwords hanging around or perhaps some data that was specific to the user or visitor. Now however they are a powerful way to profile who your visitor is and what things interest them. For marketing and advertising purposes this is extremely valuable and for the visitor it helps them get the most from your website and business if used appropriately.

 

At the software company Objective Associates we are helping our customers make the most of things that normally come with milk and we are also making sure that the websites terms and conditions cover the use of cookies.

Online Marketing – Advertising moves online (again)

Figures from various sources have long shown a trend to more and more online marketing spend in preference to TV and traditional media. However, the recent economic woes seem to be accelerating that trend. Anecdotal comment from a few business partners of the software company Objective Associates show that printed advertising and printed media is in steep decline – though perhaps that will recover when the economy stops feeling so sorry for itself. Maybe that explains why the website business is doing well at the moment. Either way – I prefer a booming economy to a slowing one.

Online Marketing – first resort in a liquidity crunch

With our various online software systems we have seen good uptake with respect to things like email campaigns and Search Engine Optimisation work – I guess when times are tough it forces folks to think through where they are spending money and where the alternatives lie. For us we have found newsletters work well (if correctly targeted), and SEO works (as long as you can convert). So when money is tight start thinking creatively with the marketing budget – if it gets cut give us a call and we’ll help with some inexpensive and perhaps even more effective alternatives.

Everbody is calling me something online

“I sympathise with young guys in a band nowadays – you cant do anything.” So said Steve Harley at the Indigo2. “I’m talking to you in private and your all going to tell someone on Facebook, or Bebo or YouTube – I don’t know what you do.”

Fair point – so allow me to prove him right.

The speed of information flow is now beyond belief but it’s getting faster – online marketing is now using the voice of “folk” to get the message out. (Everybody is calling me something – S Harley)

So in the interests of helping Cockney Rebel make another few quid – go see them – great fun. Hows that for a social network free online advert.

Online Marketing – a little alarming

A venue within a venue – the indigo2 at the o2 (aka the Millenium dome). Steve Harley was well impressed with it. Just up the road from where he grew up. “How lucky are we to have this on our doorstep” he asked the other Cockney Rebels in the crowd (though maybe no longer Rebels).

The indigo2 is something else – a decent sized but intimate venue – with a bar at the back opposite the stage.

The moment you walk into the indigo2 you know that the rest of the UK needs the same type of facilities. The SECC in Glasgow has never been a great venue – the o2 shows how it should be done.

And the online marketing and online advertising from them needs to be used by more folks as well. Pre Show info and travel suggestions, online printable tickets, even a thanks for coming email that sounded like they actually cared about the experience.

If online marketing of this type becomes common place then customers might just come back more often (it’s all a little alarming – S Harley).

Human Tribe – online marketing

I tend to find reasons not to go to London. It’s pace isn’t my cup of tea (I saw a human tribe and was terrified – S Harley). Because of that reluctance my knowledge on where to stay, eat and go is pretty lacking.

Last weekend I ended up there for pleasure rather than business – an unusual event for me. The internet and in particular mobile internet made the whole thing a lot more pleasant than it would have been otherwise. Hotel booked online. Restuarant booked online. Tickets for Steve Harley and Cockney Rebel booked online. Alternative travel arrangements to the o2 researched online when we discovered the Jubilee line was down. Mobile internet on my Orange SPV came into it’s own (at last). As did boring old SMS text – I got a reminder from the hotel to book dinner.

Online email marketing from the o2 was rather clever as well. A reminder about the gig, info about travel problems and a thanks for coming email the next day - pretty cool online marketing.

Roger Melly the man on the Telly

I hadn’t thought much about being interviewed on t’telly or t’radio but a days training on the subject to ensure the University of Edinburgh gets presented well proved to be a useful and informative day.

The techniques for down the line radio, tv interviews and on the street/off the cuff responses were covered in some detail and some good humour by Rob Tomlinson, Head of Media and Comms at the Press Office of the UoE. It was surprisingly hard work even in a simulated environment. Online media wasn’t covered – maybe some other time or maybe online is soon just TV/Radio?  

A useful day – I’m just waiting on my call from Paxman.

Bradford and Bingley – a case of presentation?

It was rumoured a while ago that Bradford and Bingley had a problem but the rumour was squashed. The trading problems though have now come to light. The news was predictable but the method in which two highly respected media companies reported it was interesting and I think maybe even surprising.

The BBC (god bless em) on their site gave a very straight bat report on the financials and the state of the lending book type stuff – informative and admirable.

The Gaurdain (sp?) online was surprisingly different – it led on the human aspect of the story re the ill health of the CEO Steven Cranshaw. I don’t know what the problem is with Mr Cranshaw or whether the crunch has triggered his illness but I wish him well.

I found myself being much more engaged with the Graudian (sp?) story – suddenly the troubles of buy to let landords seemed less important. The BBC only reported Mr Cranshaw’s poor health in its last paragraphs.

I’m not sure what the correct presentation should have been – but I know the one that made an impact wrt an online media point of view.

Get Well Soon Mr Cranshaw.