Archive for February, 2010

The Generational, Technological Black Hole

While these may sound like they coincide, they actually are two separate things that overlap with some gray area. Also the title is in a particular order as the generational differences are first an foremost the underlying issues at hand, the technology is just what makes it more convoluted and scary.

We are in the midst of a recession the likes of which we haven’t seen since well, The Great Depression of the late 1920′s. Is this how we want to be remembered though when we look back on this like a bottle of wine, “Oh yes, I remember 2010, that was a bad year.” The answer is no, because I won’t let it happen and neither should you.

Our Generation – I’m talking roughly about Gen-Y – is known for being rebellious, strong headed and misunderstood. We are the product of our parents generation who unfortunately didn’t grow up with the luxuries that we are so accustomed too, for instance our abundance of information thanks to the technology that binds us all together. We have grown up in a faster moving society then ever before and it will only continue as we move forwards because of the Law of Singularity, which states that “through a law of accelerating returns, technology is progressing toward the singularity at an exponential rate.” Gen-Y is only trying to assimilate itself to the current times but at the same time being bombarded by studies, research and corporations to try and get into our heads to see what makes us tick so in the end we can buy their products. It’s the sad truth but the truth of the capitalistic society that we live in.

Now, Technology only fuels and clouds everything I just talked about. It is true that we grew up with the Internet so to speak, so we “understand” and “get” it. Whatever that means is in the eye of the beholder based on what they want to hear. The BIGGEST misconception I hear day after day is that:

“Gen-Y is connected to the Internet at all times, loves to use social media and knows technology like the back of their hand.”

While the first part is generally true, the rest of the sentence is way off. Most of my friends don’t have a twitter account – let alone know what it is besides what they see on TV. They do Facebook though – a lot – but does that really count as social media if it is only posting pictures and comments on each others walls? I have found that it is actually the older generations and professional who use Social Media (Blogging, Twitter, Facebook, LinkedIn etc.) effectively because they think that we use it and want to profit from it.

So here is my Black Hole scenario:

  1. Everyone wants to get in touch with Gen-Y through Social Media, which most of us don’t use. Statistics show this

  2. Social Media “experts” teach us how to effectively use Social Media to accomplish step 1. It is generally older people teaching older people how to reach younger people.

  3. By the time someone finally “understands” Social Media and how to use it, it is to late because a new technology comes out and Gen-Y has moved on.

  4. A vicious circle of learning and trying to apply it. This is were you get lost in the Black Hole.

No one has all the answers because everything is constantly changing. If you are really passionate about Social Media or whatever it is that you might do, it is up to YOU to keep up to date on it and learn from other people. The “Black Hole” is not a bad thing to get sucked into as long as you don’t get lost. My advice to you is that “Nothing is as it appears to be” until you see it and feel it for yourself. Take everything at face value until you determine it’s validity for yourself.

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Focus Focus Focus: You Need a Target to Hit

My father happens to be a New York Angel, so I have read a lot of business plans (all confidential) that have gotten companies funded. As of late, more and more of them are becoming increasingly general in terms of their “target” market and who will use their product/service. To give the benefit of the doubt, the majority of them are tech start-ups that are just looking for mass adoption – a shot in the dark that even Robin Hood has a hard time doing. I think that this is a symptom of the digital revolution and the maelstrom of web 2.0 social media.

With the advent of social media, a lot of marketing plans (I’m guilty of it as well) revolve around the notion that if you create a blog, you tweet or Facebook then you’re all set. FALSE.  Creating a marketing plan revolves around your strategic marketing initiatives and the way you will execute them, that are set up to fulfill a goal or milestone you have set in place.

To gain some focus, here are a few things you should remember when defining your target market and reaching them:

  1. Define your target market with as much detail as possible. It is great that you have a social media plan that covers a broad range of markets but you need to pick one that you can focus on. This will help you with the wording of your content to make it pertain to a certain demographic.
  2. Back up your target market decision with reasons why you chose them over another market. You obviously chose your market because they are the consumers interested in your product/service and will pay for it. You’re convinced of this, but you need solid evidence and proof to back up your decision as to why you choose them.
  3. Create a plan to deliver value and information – Online that is all you are known by. This sounds easy but each market is only receptive to certain kinds of marketing initiatives and wording. If you are targeting Gen-Y, you generally want something short, quick, simple and to the point opposed to the older demographics that generally put a little more thought into it. The wording though is the most important because it needs to factual and sell the product but it also can’t offend anyone and discourage them.
  4. Join social networks or communities that your target market is in. It’s hard to believe but there are actually other social networks out there beyond Twitter and Facebook that you need to find. There is a blog, network, community or forum out there that your market participates in that you need to be active on. Find them!
  5. Execute step 3 in a timely and ordered fashion. This is one of the hardest things to do because you have so much information that you want to deliver but you need to be patient. Social media and marketing initiatives take time to settle in and deliver results for the most part. If you put out to much information, it can look like spam but if you don’t put out enough then you don’t seem active and no one will notice you. Delivering value is a delicate balancing act that you need to master quickly.
  6. Analyze the results and plan accordingly. This is critical to the success of your campaign and it’s effectiveness to your target market. While social media doesn’t have a set formula to determine ROI, use the information and data you have to figure out your reach and influence. For all of initiatives, you can do the same thing.
  7. Change your target market if necessary. No one is perfect and can predict the future. Either you chose wrong based on research you had or your product/service changed since you started and pertains to another market – it happens often! You now have more information and experience than before and can make a better decision.

With my first company, we initially started out targeting college students and Gen-Y (all 18-32ish) as we felt they could use our service the most. After a year of tedious work trying to get them to use our service, we realized that it was an uphill battle with little to no returns. We actually changed our target market in order to realign our focus on a market that could really benefit from our services with a realistic chance of acquiring them as a customer.

The lesson is that on paper, one market looks very appealing but once you start to interact with them, you understand their true intentions, wants and needs. Sometimes the spray and pray method works but it is always better to start small then think big.

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Breaking Social Norms #2: The College Education

It seems now a days that getting a college education is something of a must. In many ways I support that, but does that mean college has to be confined to a campus? Many students are starting to take classes online as it becomes more popular as it can be completed from anywhere at a fraction of the price.

Don’t get me wrong, I love almost every aspect of college and being a student. I just feel like something got messed up over the years as it seems as most of what we learn can not be applied in the “real world.” This won’t be solved by taking a class online either.

I’ve heard the excuse that college is a time for you to “figure out what you want to do with your life,” or “figure out everything that you don’t want to do.” Too many students graduate without any idea of what they want to do or even how to do it and then end up in debt. The fingered can be pointed at just about everyone for this problem, whether the student didn’t try hard enough, the teacher just wasn’t qualified or even the curriculum is outdated and/or not challenging enough.

Right now the average job seeker is changing jobs every 18 months, which is causing a lot of problems in the professional world. Most of our parents have had the same job for 20-30+ years and if they were laid off, they really don’t know how to do anything else sadly, as they never were required too. Nowadays we are being taught for things that don’t even exist yet.

Way back, the educational system was based off of apprentices and master were the student would maintain and do a craft for the rest of their life. Is that to crude and rudimentary for today’s world? Are there to many niche professions that this wouldn’t work anymore?  I have a double business major and a minor in information tech and am still looking for ways to apply it, with the hope that this broad range of knowledge will land me something.

Is everything moving to fast for us to be able to catch up and teach or is it time for an educational reform? How can we fix this, or is it even a problem? Please share your ideas with us as this is something that will be changing soon.

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Breaking Social Norms: Cool Person of The Week!

So I was going through my old photo albums of when I was abroad in London (because I miss it!) and came across a picture of a guy I took randomly. I always wanted to do something with it and never knew how to apply it to anything I was doing until now!

Thanks to this guy, who when he walked onto the tube and impressed me so much that I had to take a picture, I’m going to start a weekly series dedicated to all the unsung cool people of the world I come across. For now, I am limited to Syracuse until I graduate or travel – I do often – which isn’t a bad start, as on such a large college campus, there are a lot of people doing cool things everyday! It will be my mission and goal to seek out and find these people to give them the credit they deserve! The best part is that “cool” can come in many different shapes and forms.

At the same time, it will also be a learning experience for me as I have to approach people I have never met before and explain to them why I want a picture with them. One of the best ways to learn is to get out of the box and get uncomfortable!

I don’t want this to be a one-man effort though. If you know someone who is cool and deserves a little spotlight to highlight their efforts, please please please let me know!

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Breaking The Social Norms #1: Favoritism

I recently came upon a case of favoritism in my life…

It had to happen eventually but the idea behind it kind of irritates me. This is a conscious decision by an individual to be more lenient when it comes to the grading (in this case) than another student in the class. On the surface it seems unfair, yes, but in hindsight it teaches a valuable lesson. One thing that I have learned while studying business is that people like to work with people they like. Simple, makes sense. So why would we shun this in schools (along with a lot of other things)?

I know what you’re thinking; a suck up is the last thing we want to see in a classroom trust me. This is different though because I’m talking about a student who excels in a class and forms a relationship – strictly academic and professional – with their professor who is teaching them a valuable lesson. Anyone who comes prepared, participates and completes their work on time has a better chance of succeeding and thus getting on the professor’s good side. Will they give them a better grade for this? Maybe, but that’s not my point. When deciding how to grade said individual, the professor will consciously be aware of their aptitude and eagerness to learn and thus be somewhat biased as there is room for ambiguity. This is the way that the world works.

Now there are a lot of other cases were favoritism can be applied, so if you have ever experienced it, want to share your thoughts about it or just don’t agree with me, please comment below!

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