Posted by Sudhir Holla (View Profile | View All Posts) at 5:50 AM
It's hard to spot a business, brand or service that doesn't say the "P" word. Really speaking, claims of extreme personalization still belong in the realm of wishful thinking. And will continue to do so unless businesses find a way to understand each customer uniquely. Now, that may be more possible than it sounds, thanks to the notion of a "consumer genome", which like its biological inspiration provides definitive identification of its owner. Basically, the consumer genome is a set of intrinsic characteristics - immediate need, interest, buying behavior, connections, influence and demographics - which combine uniquely to determine consumer behavior. The same principle applies to other entities - for instance, every retailer has a "retailer genome".
Continue reading "Keep your phone number. I'll take your genome instead" »
Posted by Sudhir Holla (View Profile | View All Posts) at 6:59 AM
Of one thing I'm certain: When it comes to business online, Facebook is no Amazon. When Amazon first went live in 1995, it sold books. Today, the site has branched out into being a purveyor for countless other mass-market products that have nothing to do with literature. For one, Facebook has not effectively aggregated retailers. Yes, it has more members that any other site and therefore legions of potential consumers. But the site has proven to have far greater potential as a marketing tool and as a potential ally in analyzing buyer habits than fostering sales. When it comes to e-commerce, so far, Facebook is simply an enabler and not an effective retail platform.
Continue reading "Brands and retailers on social media: A twist in the tale" »