Owned by Kraft, a new recipe of Vegemite was launched a few months back, but without a name. Instead, the name was entrusted to the Australian public as a competition. This week, the winning entry was unveiled and it has been called – iSnack 2.0. Yep, can you believe it? How can you give food a name like that. What is going on?
As you would expect, the public is equally puzzled. As is the modern debate, the social media channels have been on fire with opinions on both sides. The mainstream media has also reported heavily, both here in Australia and overseas, given the iconic status of the Vegemite brand and probably because it’s such an unusual name.
Personally, I have to agree with the negative camp. It is one of the most unusual product names in living memory.
What do you think?
Or, is it going to be remembered as a smart PR stunt to simply get people talking about the product? Would we be at all surprised if the product is re-named in a few weeks, due to the weight of negative consumer feedback? We will find out soon enough.
In the meantime, like it’s famous UK counterpart Marmite, you will either love it or hate it (the iSnack 2.0 name I mean).
Update: Kraft has just announced it has dropped the iSnack 2.0 name and will get the Australian public to vote again.
I’m keen to understand how the global recession is impacting social media and particularly the North American powerhouse, Silicon Valley. I’m interested in the develpments occurring at Silicon Valley mostly because today we can consider it the backbone behind a lot of the big Web 2.0 companies.
Belts seem to be tightening in all industries across the board - banking, automotive, retail and so on - yet we’re still seeing big injections of capital in many of the Web 2.0 companies.
Take micro-blogging service Twitter for example. It was announced this week that Twitter has managed to raise $35 million in venture capital in spite of the challenging economic climate. This capital has come from Institutional Venture Partners and Benchmark Capital.
Are venture capitalists finally seeing the real value of Web 2.0 in helping deal with challenging times ahead?
I think that social media will come out on top in these tough times as people start using it as a means of cost-saving on entertainment. This is especially important at a time when people are becoming increasingly budget-conscious and are rather choosing to bunker indoors and save their pennies.
I’m a good example of this. I seem to find myself on fewer outings to the movies and instead I keep my cinema experience to my lounge room with my LCD TV, entertainment system and complete surround sound system. In fact, I can’t remember the last movie I saw at the cinemas but I could rattle off at least five DVDs that I have watched at home. I also spend less time travelling and more time talking to my friends overseas via Facebook and Twitter.
There are a plethora of online technologies and digital devices out there that provide consumers with their own portal to entertainment. Aside from big screen TVs that bring you a cinema at home, there are also notebook PCs to consider.
Notebooks are another means of cost-effective entertainment to online services such as online gaming, online video, video conferencing and instant connection to friends and family via IM, social networking sites, email or Skype with those embedded with broadband solutions.
Interestingly enough, consumer experts are also already tipping that many Australians will use the planned $950 Rudd Government cash handouts to splurge on games and gadgets, following record spending on electronics last year (as reported by the Courier Mail).
I’ll be watching these developments closely but please feel free to share any information specifically around how you think social media will fare in light of the global recession.
I have mentioned the benefits of using social bookmarking sites before but I think it’s beneficial to mention it again - mainly people seem to be more receptive to using online Web 2.0 tools these days. And more and more, we are seeing people use these tools in a professional sense.
For example, PR practitioners and journalists in Australia are now frequenting Twitter as part of their daily grind. Journalists are using Twitter to put a shout out for spokespeople for stories they are writing. PR practitioners are shouting out news announcements and interview opportunities in a bid to get media interest.
I’m a great fan of Digg. For those newbies out there, a ‘digg’ is similar to a favourite.
The content on Digg is submitted by the consumer and is voted on by other consumers. The more ‘diggs’ you get on content that you have uploaded, the higher up it climbs in the Digg ranks. If you’re content is absolutely fabulous and many people are ‘digging’ it, it can even be promoted to the front site page for millions of site visitors to see.
Digg is a fantastic example and proof point of a successful online community!
Leveraging these sites as a PR professional or a journalist
If you receive a fantastic piece of online media coverage for a client of yours, you can upload it to Digg. You will then be asked to submit the content along with a title, description and a tag that is suitable for the content.
What are the benefits? More journalists today are using social bookmarking sites to research specific categories. And It’s a tool you can use to try and generate additional media coverage for a client.
If you aren’t already doing so, I would suggest that you join Digg. Upload your published online content to the site. By submitting stories here you are extending your reach to a truly global audience. You can even build a cult following in Digg - those that will get to know and love your stories, read them and share them on with others.
Bloggers are using Digg as part of their daily beat as well. Increasingly, we are seeing instances of where bloggers or journalists pick up others news stories from Digg and reference it in their blogs - increasing the popularity of the story and the site origination.
I encourage you all to set up a Digg account and start experimenting. I’d love to hear your thoughts on social bookmarking sites? Can it really work to leverage stories? Can you really generate additional media coverage by submitting content to the site?
So I’ve been toying around with Twitter a lot more these days. So much so, I have been abandoning my blog. I think more and more we will start to see the quality of blog posts decline with the emergence of microblogging - thanks to Web 2.0 tools such as Twitter. Twitter gives you the option to update your network/ neighbourhood on what you are doing in a mere 140 characters.
The instantaneous nature of this means that you can easily update those that are following you on what you are up to and track what others are up to as well. I was originally critical of Twitter but I am starting to find it more useful in a professional work sense. In fact, in my perception it is taking over Facebook as one of the most valuable social networking sites.
The interesting thing here for me is that you can apply it to every day work. My Twitter neighbourhood, albeit small, is a circle of PR people and journalists. The aim = to expand my small neighbourhood! Anyway, I digress…
Although many of the posts that we upload don’t necessarily provide too much insight - I find out when people need to go to the bathroom, what they had for breakfast and when they are on the train but on several occasions it can really useful. You can pick up a lead on a story that a journalist is working on, what topics he/ she covers, when he/ she is going overseas, find out what they think of products they are reviewing and reporting on, what topics light a fire under them and so forth. It’s a great way to keep your finger on the pulse and stay in contact. Now that I think about it more, I would actually compare this to LinkedIn - it seems to be quite valuable as a professional networking tool.
I’d be surprised if blog subscriptions weren’t in decline due to the rise in Twitter feeds. This has strong implications for mobiles as well. These days, new and emerging technologies are mirroring the lifestyle trends of today’s consumers’. As people want to access to real-time information from friends, access to news, entertainment, and be able to communicate from anywhere at anytime - we are finding that today’s technologies such as mobile phones and web 2.0 tools such as Twitter are accommodating these needs.
Feel free to pipe up if you have some answers because I haven’t done all my homework in this area. Are we seeing a trend now - as people become more time poor are we seeing blog posts getting shorter? Rather than well-researched, quality blog posts - are these increasingly becoming short excerpts and randon bursts of one’s thoughts?
I’d love to hear your thoughts on this…
A really interesting IDC study, titled “The Hyperconnected: Here They Come” was released this month which talks about the exploding “culture of connectivity” and the implications that hyper-connectivity has on the enterprise and business practices.
Whilst on a fact finding mission, another interesting point that I came across is that the global mobile workforce continues to grow unabated - IDC expects the global mobile worker population to increase from 758.6 million in 2006 to more than 1 billion in 2011, representing just over 30 percent of the worldwide workforce. [see more details here]
The thing that really struck a chord with me is that we are becoming a generation addicted to connectivity. We are seeing our younger colleagues enter the workforce as ‘digital natives’ (an idea widely discussed by Peter Sheahan) - they only understand communication via IM, email, text messaging, social networking and so forth. This is the ‘conventional’ that they seek and the ‘unconventional’ that the rest of us are all so keen to adopt. Today, we are spending more time connected and switched on in both our personal and work lives - so much so that we are now seeing a blurring between the two.
More and more people are starting to leverage Web 2.0 tools in business (a term coined Enterprise 2.0) such as shared wikis, IM and social networks in order to better facilitate information sharing and collaboration between workers and provide a competitive edge to those businesses that embrace it.
I think we will see Enterprise 2.0 increasingly extend beyond the office as wireless technologies such as in-built 3G, WiFi and WiMAX become faster and more efficient for business users to access personal internet on-the-go, and as mobile devices become sleeker and lighter for users to carry with them.
The IDC study predicts that “hyperconnected business users will likely rise to 40 percent in five years”. Another five years down the track, I am sure we will see a substantial increase on this figure. Application and web developers, mobile device/ notebook manufacturers and telecommunications providers will need to cater towards making this hyper-connected experience for users a more seamless one.
Watch this space!
Sustainability and Corporate Responsibility