Why do I need Twitter AND Facebook?

One of the main reasons I use Facebook is to interact with friends. I like to keep people whom I know personally or have met at certain point. I also like to maintain my photo album & videos on Facebook. Mainly I don’t bring my professional life or politics or religious beliefs on Facebook.

Why do I use twitter? Primarily for “professional” discussions. Mostly I do on Twitter is do Internet Marketing discussions with people I don’t know personally but have come across them through a blog or social medium. Most of these people are from Internet Marketing background, as well as things related to my area of interests. These include discussions on specific areas, providing opinions on technologies, and at times heated religion and political discussions. I bond with lots of people on Twitter. Some of them I like & some I hate. I try to keep my personal relationships out of my twitter account.

Google introduces circles

Google+ is based on the concept of Circles. In your social life have circles of friends where you behave differently. The first task you go on Google Plus is to organize/place your Professional relationships, Followers, Family & acquaintances in different circles. You can block certain people & also create your own specific circles. You can add people to multiple circles. What this means for me is that Google+ gives me the ability to interact with both groups, i.e. those I talk to on twitter & those I communicate with on Facebook.

There are some other benefits of using Circles which I will discuss later.

Facebook has lists but hardly anyone knows about them & there is a method & design to it which has a reason at its core. The reason for lists not being in your face in Facebook is because Facebook wants you to share as much as you can, publicly. They don’t care about your ease of using it and privacy. Remember you are not the consumer for Facebook, your content & details are the product which they sell to advertisers. Giving you privacy options doesn’t help them. If it’s about making a simple user interface, explain to me why they make it so extremely hard to change privacy settings?

If people can post hash tags on Twitter, upload images on twitpic & add people to conversation on Facebook, create multilevel login screen which includes a call on your cellphone; I do believe they can organize their contact lists by creating circles. There’s a difference between creating systems that are easy to use and treating users with an attitude or feeling of patronizing superiority.

In Google+, the circles are there from day one. Circles gives you the option to choose who you want to post the status update to, a person, a circle, multiple circles without making it complex to understand or use.

Google Plus lacks the Charm of Twitter

What Twitter lacks in features it makes up in a certain way it is setup. Twitter mainly works as an ego massaging unit by telling me how many people people listen to me in terms of followers. The concept of having thousands of followers and hundreds of re-tweets attracts seems to attract many. With Facebook, if you want to be loved, you either set up a Fan Page (which very rarely people do), or accept everyone has a friend, which becomes a bit too busy.

Google+ takes tackles this in a little different style which has a mix of both worlds. When someone ads you to their circle, you don’t have add them back. You can also follow people without being acquainted to them, by placing them in the Follower circle. This allows you to drive up your ego, while keeping the noise to the desired level.

Sorry 140 chars is really hard to express myself
If I want to express myself in 140 characters I don’t need a software system to tell me so. Everyone is intelligent enough to restrict self to characters if and when he/she wants to or ave we become so completely and utterly mindless that we actually need that enforced by a software system?

Google+ wont workd as it is filled with Scoble & Geeks

The status-quo of Google+ being closed currently to those with an invite is temporary. It is true many of current social networks were initially limited to nerds and geeks & the online crazy joiners who jump on every new product no matter how sketchy. And, of course, they’re led by their ersatz leader, the ubiquitous Scoble, the blogger, Scoble. This will change as more people pour in and invites are shared. It actually even works to Google’s favor, just like it has with many other services. Everyone wants to be part of an “exclusive” club. Gmail itself for quite sometime was a closed group. As G+ grows, it will open up.

Will G+ beat Facebook by crossing the userbase on 7000 Million? Probably not. But I think it will grow faster than many expect it to.

Google Plus is of little interest to App Developers

Google+ has received criticism for lack of API for APP developers. While Facebook loves developers & Twitter is known to screw them bad, Google+ has not revealed its API story. This might change as it is still early days & the platform might see many changes. Google is loved by its developers for their openness & clear policies which don’t change overnight.

Some more of Google Plus Benefits

Conversations
Its next to impossible to track conversations on Twitter. With Google Plus, tracking & participating in conversation is a charm. I can read an entire thread & read content by my friends as well as discover new contacts. Twitter has made some improvements in this area but its not there as yet.

Instant Notifications
Another step Google has taken is to integrate Google+ with its other services. Google has Billion plus users using its service at one point of day or another. You can navigate from one Google Service to another. If you use Gmail, Google as a search engine, maps, reader or Picassa you instantly get a notification icon in the top bar indicating status updates.

These notifications can further be fine tuned by simple options in settings tab.

The user retains the copyrights over photos and videos you post
I hate Facebook & some image hosting services as they don’t let me retain the copyrights over my personal information. facebook privacy page is simple, it is set to let Facebook to use things posted by us as it pleases.

What it means Facebook can take your favorite beach photo and use it in their tv promotion, ad campaign, printed reference material, any given day even after you have deleted it or made it private. Remember Facebook was setup in a way people can find out which girl in their circle is sleeping with which dude.

Compare this to Google+ makes it easier to share and manage contents and yet retain full rights over your content.

Simple and to the point.

Security
Here is again where circles are effective. How often have you heard a story that someone posted a tweet or an update on facebook about going on vacation or going to a dinner for the night, only to come home to find their house being burgled. Circle helps you by giving you the ability to share the information with whom you trust and not the world.

Hangouts
Not much to add on this cool feature of multiple video chats which is one of the show-stopper of Google+ and beats the so called recent awesome launch of Facebook Video chat feature.

You can’t Ignore Google Search
It’s Google. The undisputed leader of search. If you want to promote your content or you run a small business, you can never parley/ignore the importance of search. Google recently ended its partnership with Twitter to show real time search results from the latter. No doubt what was the reason for this move. It’s Google+. Google controls the searches. It will be able to provide real-time info if the case arises. In addition it can also provide other G+ features like + & not to mention “sponsored” updates from Google+ (which might come in one form of another at a later date).

Conclusions

As mentioned previously, most of the criticism of G+ talk about how complicated it is for average Joe. In-fact G+ is as complicated as one wants to make it, which is sometimes influenced by conflicting interests. By so-far the only so called complicated feature of Google Plus right now is the “CIRCLES”. What I would say is when it comes to settings, both concerning the privacy as well as general ones, G+ is far simpler and less obscure than Facebook.

I tried it last week for a presentation to lay across a layout a website design and the end result came across very well in front of client. I tried doing it with Photoshop but was frustrated with how long it took.

But movie watching at Box Office isn’t fun either, with some local idiot howling and clapping over every rape, whistling after every scene, perfecting his dialogue delivery, shaking his pelvis and dancing in front of everyone during every song. Yes thats the experience we get in so called upmarket multiplexes of Gurgaon even after shelling out indecent amount of money.

The original DVD’s are no good either. This is an average experience of Pirated vs Original DVD.

Vendors should realize that all the warnings, ads and DRM related messages is not helping their cause either.
Why don’t these electronics companies need a 500 button remote in God’s name. Ask any average Joe; no would have used more then 8 buttons on a remote in 3 generations?
Why does a Blue-ray device needs to be so complex that it needs to be installed by a specialist?
I don’t like to get felt all over with the big burly ticket checker putting his fingers in the pocket of my knickers!

When i was done registering I couldn’t find anything interesting to buy. They had no sewing machine, no magazine worth subscribing to, nothing which was below the market prize and wasn’t available easily outside my house.

The Catch of the day was the Reebok Bag and I added it to basket to try it on. But they don’t have a shopping cart to review items. Anyhow, as I tried to purchase the item I reached a page which said the voucher cannot be used to buy this product. Now I made sure the voucher in hand said – Valid for 7 Days on a minimum purchase of Rs 595 – and I was meeting all the criteria to purchase the Reebok Laptop bag worth INR 999. But then I realized its Ibobo and any further effort is futile and gave it up.

Common Guys – get inspired from USB Geek, Buy.com etc. I understand its difficult to serve entire country like India with no proper pin codes, and delivery mechanism in remote areas and transportation services with crampy roads and cheat excise officers. But that’s not a reason to give up.

Launch some niche stores, like a discounted AC E-Store or just serve limited markets like Delhi, focus on products and concepts rather than start something half defunct and useless for entire country offering nothing new. Get original, hear what people need and provide them that.

My Review for Ibobo Tradus is 0 for Concept, 0 for Execution, 0 for Experence.

The use of electronic tools for the purpose of sharing and discussing information and experiences with others…

Why Social Media

• 93% say a company should have presence in social media
• 85% say a company should use it to interact with them
• Almost 60% of Americans interact with a brand on a social media site
• 56% feel a stronger connection to brands when use social media
• It’s About Relationships, Not Pitches
• Monitor your brand and reputation online
• Social Media Exposure: Better Than Traditional Ads and Cheaper
• Monitor others brands/reputations
• Interact with your consumers
• Track ROI better
• Men/Women 18-34 yrs
• &nsbp;&nsbp;&nsbp; – 33% want companies to market to them via social media

Fashion Industry & Social Media

• The hottest trend in fashion right now is Social Media. Social media has become the hottest trend since skinny jeans and stiletto heels
• Journalists, fashion incubators, retail gurus and people who were just plain interested in the industry are weighing in on a topic via social media that has notoriously shut its doors to anyone deemed an outsider.
• In the past six months, the amount of fashion insiders embracing social media has skyrocketed. The Fashion Industry has adopted social media as a marketing platform to reach their customers online & reignite brand passion and customer loyalty.
• By letting the public behind the fashion influencer curtain, stalwarts and luminaries have created and connected to an entirely new audience, and capitalized on the 400 million Facebook users and more than 22 million Twitter users.
• Von Furstenberg is one of the most beloved and popular designers on Twitter having over 22,000 followers. The viral marketing capabilities of re-tweeting by this targeted group is something an advertising budget cannot buy. Within the last year of having a major online and social media presence, von Furstenberg’s online traffic has increased by 13% and sales “have been great” according to a source in the corporate offices of DvF.
• Victoria’s Secret, has 2.63 million fans on Facebook and 1.7 million for Pink – thorough which the brand is able to connect with their customers and monetize on it through awareness, loyalty and engagement.

Fashion Industry Uses Location-Based Marketing

Marc Jacobs partnership with Foursquare

• Fashion giant Marc Jacobs used location-based services Foursquare to deliver its brand messages to its customers.
• For Fashion Week 2010, the brand decided to go beyond just digitally streaming their runway shows. It took the online interactions offline through Foursquare.
• Marc Jacobs and Foursquare created the “Fashion Victim” badge, which allowed Fashion Week attendees (and others) to “check-in” at any Marc by Marc Jacobs stores in New York and around the country to unlock the badge. Four people who unlocked the badge in New York were randomly chosen to receive tickets to the Marc Jacobs show. The partnership provided both Marc Jacobs and Foursquare with word of mouth marketing.
• Foursquare and other location-based services like Loopt and Gowalla offer retailers the opportunity to increase in-store visits and foot traffic. If executed well, these location-enhanced shopping experiences can translate into improved customer loyalty, referrals, and sales, both online and offline.
• Tasti D-Lite the frozen dessert chain popular in New York ,rolledout TastiRewards a rewards program that incentivizes customers to associate their Twitter and Foursquare accounts with their Tasti D-Lite membership cards. By syncing their loyalty programs with Foursquare, they’re enabling frequent shoppers to share their recent purchases with their communities. When a user posts shopping tips or deals at a particular location, that post is essentially an advertising impression on Foursquare, Twitter and Facebook.

Getting Cozy in Communities – Social Media Strategies

The majority of the industry thought this would tarnish brand image if they engaged in social media. Now almost every brand or retailer, from American Apparel, Sears and JCPenney, to Oscar De La Renta and Louis Vuitton, have created a presence in several social communities.

Creating Niche Communities – Social Media Strategies

• Fashion Brands are experimenting with development of their own social networks or even invitation-only communities. Luxury brands Louis Vuitton, Dolce & Gabbana, Chanel and Burberry have launched their own social networks or added social components to their existing web sites
• niche communities such as Weardrobe (recently purchased by Like.com), Modepass, and Lookbook.Nu,have yielded impressive ROI, as their audiences are more likely to become loyal customers

Embracing Mobile Applications – Social Media Strategies

• Fashion Brands have taken to developing apps via iPhone in a big way.
• Chanel shows its runway collections via iPhone app, and the Gilt Groupe app allows users to shop sample sales and receive alerts as to when sales are starting.
• StyleCaster’s app lets users access style tips, individually customize news feeds and fashion trends, and houses a large online retail catalog of brand-name clothing.
• JustLuxe is a digital global concierge company whose extremely interactive app comes with over 1,000 member benefits. Utilizing GPS, the app will recommend participating restaurants and hotels in the user’s area. It’s the first style-oriented app that leverages location-based mobile marketing

The Rise of Style Bloggers – Social Media Strategies

In 2009, bloggers had an enormous impact on fashion, affecting everything from print publishing to how brands market themselves online. There are thousands of style-related blogs on the web these days, and those dedicated to their craft have earned industry recognition.

The Impact of User-Generated Content – Social Media Strategies

• User-generated content is key to social media and fashion. From blogs to Facebook photo contributions to product reviews – user-generated content is where it’s at.
• More brands are realizing the collective power of their customers’ networks by encouraging fan contributions.
• One of the most notable and consistent campaigns built around user-generated content and social engagement has been from the brand Charlotte Russe. The brand’s weekly trivia contest on Twitter drives followers to the web site or YouTube channel with the hope of snagging some excellent prizes (the brand recently gave away a jacket worn on Gossip Girl).
• Charlotte Russe is running “Be The Next Charlotte Russe Design Star” a t-shirt design contest where the winner will have his or her shirt produced and sold online. A fashion-filled trip to NYC is also included
• Another great example of user-generated content used in conjunction with a niche network is Burberry’s Art of the Trench site.

The Impact of Bloggers on New York Fashion Week

New York Fashion Week Feb10 Social Conversations

• In past 30 days leading to the NY fashion week , there have been 15,996 online articles, blog posts, tweets and discussions on New York Fashion Week 2010.
• Fashion Week Trends In Real-Time: 45% of NYFW participants used Twitter to discuss events. From models to designers, PR gurus to celebrities, people tweeted and twitpic’d their experiences.
• Fashion Week Is Written In-Real Time : 53% of the coverage came from online articles and blog posts occurring between 2/13/2010 to 2/20/2010. As magazines posted photos and commentary of shows, bloggers were hot on the heels, reblogging, writing and linking to photos and trend information as they were released.
• Established news outlets led real-time coverage: Bloggers used the CUT blog, New York magazine and Coutorture as their main fashion week news sources. NY Mag and Coutorture are established, mainstream fashion resources.

HTC EVO 4G: Sprint’s First WiMAX Phone just joinged the list. The phone has 1GHz processor and 512 MB RAM.

The way the processing power is increasing in Cell-Phones, we could soon see laptops passing into oblivion.

The same Russian Singer’s “Trololo” Meme got an iPhone App dedicated to him.

Link of App – http://bit.ly/d8rQo4

Link of Song – http://bit.ly/cRQWcB

Do you know Big Bazaar at Ambiance Mall, Gurgaon won’t accept your baggage shopped from their store at their baggage deposit box, but would gladly entertain you when accept good purchased at Reliance Hyper, Vishal Megamart … almost anything as long it doesn’t contain any explosive material [...I am not sure if they even check the bags before accepting it]. Read on.

I had a enlightening moment while shopping at FutureBazaar – Big Bazaar at Ambiance Mall, Gurgaon. I had shopped 3 bag-full of grocery at the store known for its discounted goods. After I came out I realized I had missed a couple of important of items. I went to their baggage deposit counter to keep the bags filled with stuff I had purchased from the store. To my horror the Big Bazaar staff told me that he can’t deposit the bag as it is from Big Bazaar. I reasoned with them that I have to purchase some extra items from the store (in my world a new customer means possibility of a new pay-hike) but this failed to register into his logical calculative mind and he asked me to talk to customer care cell.

The bespectacled young guy was even more pain in *** (in you know what)!

Customer Care Rep: Why would you need to go back into the store since you have already bought a lot of stuff?
Ankit (Trying to retain my temper): I have to buy a couple of items which I forgot to buy earlier. For doing that I have to keep the bags at baggage drop box.

Customer Care Rep: What do you want to buy! You can keep the stuff in your vehicle Or keep at some other store and return.
Ankit (Now irritated): Food Items, … On second thought, I don’t want to discuss this further, my guess is you don’t want me to shop from Big Bazaar.

That made me think – why do I go through the pain of visiting these dim witted people at first place. Saving money and getting a bargain is not on top of my daily agenda. Maybe next time I would pay visit to my friendly neighborhood general sunny general store who bores me with his irritating jokes but still is pleasantly antiquate in keeping the stuff I require and helping me out by constantly going out of way. Hail! IQ.

Food for thought – Is this why Human Relationships work where Machines and Big Corporations fail!

The catch and the real story behing ULIP or Life Insurance Investment schemes which gurantee HIGHEST NAV in 5,6,7 Years is explained below. Though these schemes look attractive with tag-lines like ‘Highest NAV Guaranteed’ there is a nice story behind it. Read it ON to get the complete picture.

What the investor thinks?

It gives the impression that one will participate in the equity market growth. That of course is not the case. What a company guarantees is the highest value of it’s own NAV. For guaranteeing the NAV they will have to invest in debt products whose maturity value is equal to the guaranteed value.

How these kind of products work ?

These products use Constant Proportion Portfolio Insurance concept. Here, the portfolio is managed and allocated dynamically between debt and equity in a way that the highest NAV attained is locked by moving a portion of equity assets to debt, whose maturity value will be equal to highest NAV attained till then. Over a period of time, equity assets are bound to move to debt. The reverse however may not be possible as when equity markets fall, it may not be possible to move debt funds to equity as they may be locked in to assure highest NAV.

So, what is good about the product?

• Firstly, it offers capital guarantee from day 1. You are assured that you will get your principal back.
• Secondly, you are assured of whatever growth happens in it’s portfolio, in terms of NAV. For risk averse investors, it is a major source of comfort as they know that the principal is safe and any growth in NAV is locked in (something like the concept of reversionary bonus in traditional policies).
• Thirdly, one is taking advantage of equity exposure in the beginning and overtime it is shifting to debt – which is inline with lifestage requirements, to an extent. But here the change will be much faster to debt.
• Fourthly, it can be treated as a debt oriented product which will give some returns with an equity kicker in the earlier years. It is like a hybrid product like MIP, with the difference that the equity portion comes down over time.

What are the downsides?

• In one word – Charges! Let us take the case of LIC Wealth Plus. For a regular premium payment between Rs 20,000 to Rs.2 Lakhs, the Premium Allocation charges is 12.5%, in the first year and 2.5%pa thereafter. Policy Administration Charges is Rs.60/-pm in the first year, Rs 25 pm from the second year onwards, escalating at 3% pa. Fund Management Charge is 1%pa and 0.35% pa is the Guarantee charge. The charges in most products will be on similar lines. This does not look that cheap for a fund that will eventually be a debt fund in the later years.
• There is nothing stopping the fund manager from having a substantial debt component even in the earlier years, as the mandate in such products is that they can hold 0- 100% in Debt or equities.
• Those thinking that they will participate in the upsides of the Equity market will be disappointed as this category of product assures highest NAV of the fund itself.
• This then turns out to be a product that has a fairly long maturity – at least 3 years or more. For a return that is expected to be somewhat higher than a debt product, locking in for long periods makes no sense.
• Guarantee of highest NAV is applicable only at maturity, not otherwise. This clause immediately makes the product less attractive as it is a long duration product. Any withdrawals in between for any exigencies, beats the whole purpose of investing in such a product.

You have heard it all. You need to decide if it makes sense to invest in such a product.