Wednesday, July 9, 2014

Network effect

Think social media is just for teenagers?

Consider the exponential power of Metcalfe's "Network Effect"!

If you are the first person buying a fax machine, and none of your friends, family, associates, business partners, colleagues, vendors, suppliers have them then you might as well trash it; since it would be useless for you. Two people buying fax machines would share one connection, five would have ten connections, a dozen would have potential for sixty six & so on!

You will not hear a tree falling in a jungle, if you are not there no matter how thunderous the sound. It is only when more & more of your tribal members old or new, start interacting & spreading your "Idea Virus" (Seth Godin); it will gain any kind of momentum. Is your idea VIRAL?

Traditional interruption marketing (TV commercials, print ads etc.) is obsolete since we have all learned to ignore it. You need permission based marketing like Apple announcing it's new products over a two hour event, you would be dying to watch it; if you are their fan! In fact having to do anything else (like work) during the webcast would be an annoyance for you. 

Check out this genius marketing video for Google search. If you are an Indian or Pakistani senior citizen, who grew up during the partition; see if you can resist the urge to share it with your friends your age:

If you are a Trekkie / Potterhead or a Whovian how long can you keep any news about Star trek / Harry Potter / Doctor Who to yourself?

How infectious is your idea virus?

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