The Dilemma’s Innovator: Innovation and Change as the New Pillars of Business

If necessity is the mother of invention, then perhaps imagination is the source of innovation.

In December 2010, I was given the opportunity to write the cover story for Entrepreneur Magazine. The article, “Change: Lessons on What’s Next,” explored the innovation behind three (well four) companies — Foursquare, Square + Twitter, and Zappos. Throughout the years, I’ve had the opportunity to spend time with Dennis Crowley, Jack Dorsey and Tony Hsieh. And over that time, I’ve observed inherent traits that I believe represent the future of business and how companies engage with customers to create a more adaptive and connected infrastructure to compete for the future.

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Checking-in to the State of Foursquare

Last year at SXSW, Foursquare founder Dennis Crowley joined Frank Eliason (previously @comcastcares), Altimeter Group’s Jeremiah Owyang and me on stage to discuss the shifting landscape of social engagement. While I focused on the sociology of engagement and the impact it is having on culture and society, I also sought to balance the conversation by demonstrating the impact of digital actions and interaction between people and businesses.

Whether intentional or not, Crowley and team unlocked the elusive gates that separated the last mile of engagement between local businesses and their customers and prospective patrons. The rising generation of social consumers embraced geo-location services to share physical experiences, connect with their social graph in the real world and also earn rewards for their check-ins, which is rapidly becoming a powerful form of peer-to-peer endorsements and recommendations. Crowley, quite literally gamed the system that was once solely controlled by giants such as the Yellow Pages,  Google and Yelp. The Foursquare team bridged the gap between people and places both online and offline.

Later in the year, we caught up again for a cover story I wrote for Entrepreneur magazine.

We discussed how Foursquare redefined the role of the patron and the relationship between businesses and customers.

“The network started to take on a life of its own,” Crowley said in the interview for Entrepreneur. “Foursquare gave everyday people, venues and local merchants a voice. It opened the doors for businesses to see a whole new way of seeing their customer.”

In the Game of Foursquare, What’s the Score?

Foursquare’s rapid rise from New York startup to media darling is quite remarkable. If you judge the service by its badge, or shall we say badges, you might miss the bigger picture. The essence of Foursquare is powered by its community. In this mobile Utopia, people earn positions of prominence by exploring and improving the experiences of other explorers. It’s a form of social hierarchy that’s alluring and rewarding. For a more recent example, it’s not unlike the fledgling blog darling Quora.  The ties that bind its users are woven through social ties and recognition that’s earned through participation and contribution.

Foursquare continues to evolve and the team recently released an infographic that visualized collective achievements and user behavior. To make it easier to consume and also appreciate its progress, let’s review some key milestones.

In 2010, Foursquare experienced 3,400-percent growth over 2009, reaching 6,000,000 users to date.

This year, Foursquare received over 380 million check-ins.

The largest swarm to date is the Rally to Restore Sanity, which saw over 35,000 check-ins on October 30th, 2010.

A Day in the Life

The team also revealed a “day in the life” of the typical Foursquare user.

Most people check-in to eateries, gaining momentum at 8 a.m. every day and thinning out just after midnight.

Check-ins to work or the office also follow a similar pattern. Work days typically seem to see the greatest volume of check-ins between 7 – 8 a.m. continuing to midnight.

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2011 Social Marketing Predictions

I think 2011 is going to be a very interesting year in the social media world. Generally speaking I believe the marketing world is going to start understanding better the value of, and how better to assign value to, deep consumer relationships.

Right now everyone is trying to assign a dollar value to a Facebook fan or Twitter follower instead of addressing the fact that the engagement and interaction that takes place in these mediums are incredibly important to a brand.

Building a relationship with existing and future customers is the true value and strength of social media/marketing and what will and has allowed brands to survive and flourish for the long-term.

ROI (return on investment) is incredibly important whenever investing, but companies will start looking to ROR: Return on Relationship, when planning, strategizing and most importantly evaluating social marketing … especially smaller competitors who can more easily drive and control Relationship Marketing.

As far as specific predictions go I have a couple… Google will acquire Twitter, and pay whatever it takes to grab a valuable piece of the social marketing landscape. FourSquare, et al will disappear as geotargeting will become more of a proactive medium controlled by those who really know where you are and what you are doing… the credit card companies and others who you tell where you are and what you are doing simple by being there and not having to make a notification.

Ted Rubin

McDonald’s Foursquare Day Campaign Increased Checkins by 33%

Golden Arches
Click image to see full post on Mashable
You probably already saw this via Mashable (which gets a tad more traffic than my blog) but in case not, I wanted to share the case study of how we were able to use Foursquare to increase foot traffic while showing real ROI.

A huge thanks to Miss Destructo www.missdestructo.com and Dr. Nate www.brighteyesnews.com/ who made Foursquare Day possible.