Monday, 31 January 2011

When the Social Media Bubble Burst

The social media bubble is about to burst says Axel Schultze, social media practitioner, author of “Channel Excellence”. People are recognizing already that the endless hours of watching the incoming streams from Twitter and Facebook or all the status updates on LinkedIn are hours wasted. All the paid tweets and people or agencies, who have been hired to tweet are not going to contribute to the bottom line. And the fan pages people build to get "fans, followers, connections" are just hopes that it will do something for the business – but it won't.
Axel seems to have a lot of supporters. "Despite all the excitement surrounding social media, the Internet isn't connecting us as much as we think it is. It's largely home to weak, artificial connections, what I call thin relationships", says Umair Haque, author of The New Capitalist Manifesto: Building a Disruptively Better Business, in the Harvard Business Review .During the subprime bubble, banks and brokers sold one another bad debt — debt that couldn't be made good on. Today, "social" media is trading in low-quality connections — linkages that are unlikely to yield meaningful, lasting relationships, says Umair. Further on, Social Media Advertising it seems that is in early infancy, too: represents less than 1% of global industry total, says a recent Deloitte report. Despite the fact that social networks look likely to surge through the 1bn user mark in 2011 and will deliver 2trn advertisements, Deloitte predicts that advertising revenue will remain at a US$5bn, or US$4 per member. It says this represents less than 1pc of the global industry total.“That’s a slow start for the technology sector’s next big thing which has promised greater rewards. The decade-old phenomenon of search advertising and perhaps the billions of stated 'likes' on social networks does not translate into tangible purchases. It is early days for this fast-growing sector which could yet be used as e-commerce spaces or payment platforms while the strong trust element that social networks command amongst users could be harnessed by advertising companies and their clients,” explains the report.

Sunday, 30 January 2011

Fashion and Social Conscience: Prestige vs Practices of the Brand.

Most of us have an inherent need to be accepted and will alter the way we present ourselves and our buying habits accordingly, says Yoan Massie in an interesting article about the world of fashion. Over history, the following of fashion and trends has been more about personal validation, self-expression and social acceptance rather than practicality or economy. Today, is this still the case? In the present economic climate, there appears to have been an adjustment of values from the everyday consumer. The onset of the global financial crisis (GFC) has been a driver for shifts in the ‘luxury vs. necessity' boundaries. And Mr Massie continues: “Business guru and author, Costas Kataras points out: "Brands are no longer about products, services or experiences but have risen to a ‘pseudo-status'. There is deep engagement of the human psyche with brands. The consequence of the human encounter with brands by far exceeds the simple transaction at the shop, and affects the future of society and its well-being." In an economy fuelled by uncertainty, cash-strapped consumers are favouring simple pleasures, frugality and conservation over extravagant indulgences. Materialistic culture has been rejected and even people who have the money to spend, appear much more hesitant about showy displays of cash. It seems the latest essential fashion accessory is a social conscience. ‘Eco-chic' is a term that has become increasingly prevalent. Defined as combination of trendiness and environment, being eco-chic is not just a look, but a mentality. Nowadays it seems as though purchase decisions have less to do with the prestige of the brand and more with the practices of the brand. Read the fuel article by Yoan Massie “The Death of the Bling” with clear reference to Costas Kataras’s book and the “The Death of the (Arrogant) Brand” .

Tuesday, 4 January 2011

Who gets your vote for the 2010 "CSR / Business for Society" Person of the Year?

Which CSR / Business in Society Person had the biggest impact on you and the world, in 2010? Is it going to be an inspired Business Leader, Philosopher, Philanthropist, Academic, Researcher, Author, Journalist, Policy Maker or someone else? Vote now. Simply leave a comment and tell us who and why this person should be.

Monday, 3 January 2011

Top Ten CSR Reports of 2010, according to Blogs

CSR Reports… almost impossible to compare or rank them, despite numerous CSR Report competitions each year. However, some reports did come out on top of the pack , according to expert sources . See here The Top Ten CSR Reports of 2010, according to the CSR Reporting blog.