Attention and interest on the web are critical metrics and are an essential component that should guide any online strategy. LinkedIn has done an excellent job in this area of indicating interest quantitatively. Let us look at a few examples:
Indicating interest in you/your profile by showing how many looked at your profile. Indicating interest in a job by showing how many people clicked on the Apply button. Indicating interest in your connections by showing how many changed jobs in a year.
There are some other examples in the online retail industry. For example, Rue La La indicates interest in their products (clothing, accessories, home goods, etc.) by letting us know how many Ralph Lauren sweaters are left to buy thus indicating how quickly a product is getting sold. We also measure interest (though not shown quantitatively) by grouping stuff under most popular, most commented and most shared on various blogs and news sites.
The theme of the third largest social network, Pinterest (Facebook and Twitter are the top two) is centered around interest. Interest is indicated quantitatively through likes, repins and comments. We need to have a measure of interest by consolidating our online behavior (sharing, commenting, viewing, etc.). Let me know if you have any ideas on how to measure interest.
On August 26th I was honored to be a part of the graduation ceremony of the 2011 Graduate Studies Program (GSP) at Singularity University. This university, located at the NASA Ames campus in Silicon Valley, aims to educate and inspire leaders to apply advance technologies to address humanity’s grand challenges. The goal of the ten week GSP program is to develop ideas and solutions that have the potential to positively impact at least one billion people within ten years. The program is well supported and funded by companies such as Google and Cisco and Venture Capitalists such as Vinod Khosla (Co-founder of Sun Microsystems and keynote speaker at GSP 11) and Bob Metcalfe (Founder of 3Com). This year GSP11 students will choose one of six “grand challenge areas” to focus their projects: Education, Security, Energy, Global Health, Space and Poverty. A few of their ideas are detailed below.
1. IgniSolar: A team of six entrepreneurs have patented and developed a solar panel at one-tenth the price of regular solar panels. Their solution is a concentrated Photovoltaic Solar panel which is flexible, has reflective fabric, requires no tracking and had passive cooling. The technology replaces expensive heavy mirrors with reflective fabric, and minimizes extra features to make a cost effective product. IgniSolar's value proposition is in its complete solution and performance. It generates 20 times more energy at one-tenth the price compared to its competitors. Its target customers are households and commercial customers in sunny climates such as the Middle East, Southern Africa, Northwest India and other places with no or intermittent electricity.
2. Corruptiontracker.org: Dr. Clarence Tan and his team have created a corruption tracking and reporting system. People will be able to submit reports directly through CorruptionTracker.org via SMS, mobile telephony, and our Internet site. To expedite implementation, CorruptionTracker seeks to work closely with the internationally renowned open source platform, Ushahidi. To date, the platform is aggregating data from localized Twitter and Ushahidi anti-corruption deployments but soon will deploy a patented SMS system with mobile application implementation and will include photos, videos and audio recordings that take advantage of mobile telephony technologies.
3. Senstore: provides technological and community tools that make it cheaper and faster for developers to create health devices and applications. Senstore provides the technical and social infrastructure to empower developers to build health monitoring devices cheaper and faster by partnering with existing technology platforms and partners. Their goal is to be open sourced and driven by the community.
You could read more details on projects of the GSP 2009 class here.
PARC or Palo Alto Research Center, a Xerox Company in Silicon Valley has contributed tremendously to commercial innovation through ethnography. I am a huge advocate of ethnography and PARC pioneered this process of studying human behavior and "hybridized" it with other social science and analytical methods to optimize it for business application - particularly for addressing new opportunities, customers and markets. PARC owns 2500 patents and have created products such as GroupFire (acquired by Google), Inxight (acquired by SAP) and Uppercase (acquired by Microsoft). You can see some of their presentations here. On August 18th I went for a presentation on Managing Disruptive Innovation by Tamara St. Claire, VP of Global Business Development and Head of Commercial Operations.
Tamara spoke about managing disruptive (vs. incremental) innovation, its risks, two case studies and lessons learned. Incremental innovation happens in existing markets (left column in image on right) while disruptive innovation happens in new markets (right column) and is more challenging to manage. She mentioned three risks in disruptive innovation - technology, market and execution- emphasizing that markets and execution are the most challenging factors to overcome. A further breakdown of the risks are found in the image below. Lack of credibility/experience (includes C level stakeholders), lack of channel (sales/distribution network) and lack (actually the inability to filter through too much) of information are critical risk factors.
The best way to enter a market of disruptive innovation (with existing or new technology) is to start with a minimal viable product (MVP) introduced at the right time and a strong value chain. MVP is a product with a limited set of features that fits the user needs of a niche market. Once the product has gained an audience ideas to gain mass market with added features can be explored. Tamara gave an example of one of PARC's chip packaging technology which was introduced seven years ago but shelved due to bad timing. It was reworked seven years later by partnering with Sun Microsystems and Oracle due to their advances in chip technology. The value chain are a group of activities (see image below- extreme right) that help to bring the product to market. In existing markets best practices help define a path to market entry but in disruptive markets one has to be flexible and shift gears depending on learnings. It is also critical to partner with experts and consultants studying these new markets as well as visit trade shoes and conferences to learn as much as possible. Partnerships are forged to strengthen the chain and build credibility.
Case Study: Printed Electronics Services
PARC developed low cost disposable printed flexible electronic expertise and devices can be applied in health electronics, packaging and biomedicine. When DARPA (Defense Agency) contacted them to develop an early detection solution to prevent brain injury for soldiers they partnered with consultants and experts to expand their printed electronics services for defense applications. They soon realized they couldn't manufacture the films at the scale desired and thus decided to play a connector role (flexibilty to change is key) between materials and manufacturing. They partnered with Polyera and 2 other manufacturers thus giving up positions in the value chain and concentrating on their strength (network orchestrator). The lessons are outlined in the image on the right where N=1 means that they relied on more than one consultant or expert to help traverse this new territory and in many cases related to disruptive innovation a group of experts help bring together a holistic viewpoint and a superior product. The other lessons were to be flexible to change course, focus on strengths in the value chain and partner in areas of weaknesses.
PARC developed a communication protocol complementing existing IP infrastructure to reduce the cost of distributing video and other content in IP/TV networks. Content-Centric Networking uses a unique architecture that caches content closest to the users who request it most thus reducing network capital cost and operating expense. To create this solution PARC collaborated with Van Jacobson, Chief Scientist at Cisco and an IP/TV expert and took it to open source for feedback. They tested this network with the government and early adopters and used feedback to improve the solution to get critical mass. The lessons here were to get the right commitment, gain critical mass and engage user feedback early.
Overall lessons are to use ethnography to understand how people are using your products and thus have a well defined MVP. Disruptive innovation is more about unique business models and integrating technology. As a company expands it is critical to have a portfolio of products ranging from core to next gen products and using a process to manage this innovation can be the difference between success and failure.