Two companies, both alike in strategy,
A parody of Shakespeare (The first four lines of “Romeo and Juliet”, rewritten by Amanda Kay)
On the internet, where we lay our scene,
From ancient tactics to new alchemy,
Where their feedback makes their objective seen.
Not too long ago when social media wasn’t fully embraced in the Web 1.0 stage, businesses would have their own plans with not too much consideration for their customers/clients. They would work with what they knew and gather information on what their customers want by supply and demand rather than asking the customer to contribute.
Crowd sourcing isn’t a new idea, and companies have used it in the past when introducing new products; it was inevitable that they would eventually use mass collaboration to not only have suggestions and feedback, but to base the majority of their business strategies on. It’s not about getting to know each customer, it’s about letting each of them have their say.
In 2006, Don Tapscott (pictured above) released a book about Web 2.0 and the facinating advances businesses have made, called Wikinomics: How Mass Collaboration Changes Everything.
It mentions four principals of the Web 2.0 business strategy:
- Openness is about collaboration and having open standards. It is a smart attitude of letting any one lend a hand.
- Peering is about transparency and the communication of information. Letting anyone view and edit to improve a product (like Linux).
- Sharing is giving up major assets (like intellectual property) for a more open and intimate understanding of the business.
- Acting Globally is taking advantage of being able to communicate internationally and using it as a business advantage.
So here are some examples of Wikinomics in popular companies.
A website dedicated to artists and fans of popular culture, TeeFury is a site that allows people do buy a limited edition tee shirt that changes every day for just $11 (shipping isn’t too expensive either). It brings people together that have the same interest in geeky clothing and gives them what they’ve been waiting for; they just have to check the site every day as the designs change every 24 hours.
The clothes they make and sell are for a very specific audience, and if they weren’t online, they wouldn’t have the kind of following they do now. Since there is a strong online community based around popular culture, it brings people together to submit designs, buy, and interact with those involved.
Without being open and allowing global contribution, this site wouldn’t be nearly as popular. The people that design the shirts are artists from around the world, contributing their work in order to improve their portfolio and get their art out there. That factor makes the artists more popular and the people who run the site seem friendly and more relatable.
They also recently released their shirt making process, along with having most of the information about their business in the FAQ.
Steam is a popular online gaming portal used to connect to friends through the games they are playing. It also allows users to buy digital copies of games rather than go into a store and getting a physical copy. Their community page, Steam Greenlight, features a system that allows users to vote for and submit games they would like to see in the Steam Store.
Introduced in 2011, Steam has finally handed over a significant amount of power to it’s community. Users can vote for and decide on the new games that will be launched via Steam. They have a lot more of their business properties online in order to allow users to have more knowledge about upcoming projects and features.
The whole idea of the company is to be able to buy any game (available on the PC), anywhere. The set up tools are all downloadable, the site is safe when it comes to buying things via credit card, and as long as the user has a steady connection, they are able to play what they want, whenever they want.
So now to you: Do you like how businesses have improved their online presence over the last few years? Would you kindly comment below?References: whatis.techtarget.com/definition/wikinomics
http://www.youtube.com/watch?v=jfqwHT3u1-8 http://www.teefury.com/about.php http://steamcommunity.com/workshop/about/?appid=765§ion=faq