The Next Big Social Media Service, Peregrine

December 8, 2008 – 6:20 am

I’m running off to Birmingham this morning for two days of research. One must pay the rent even while starting up the next big social media service! I wanted to post a “quickie” in response to some of the comments on my last blog about attributes of Peregrine Panelists. For those newcomers to the Peregrine concept/newco, read previous blogs here, but in a nutshell, Peregrine is an emerging social media consumer research panel. Original panelists will share ownership in the company (1000 people share 10%). Panelists will help companies research their products, act as a sounding board, and will provide ideas.

One question that’s come up is simply “what’s expected?” The honest answer is, I’m not sure entirely. I could take a top down approach and say, okay, at least an hour of work a week, 24 hour response time to a research question, etc. However, I don’t want to set those standards at least not yet. I think this will emerge and I’d like the group itself to help define this. I can tell you this, I would like to see very active participation, that’s what creates value. One of my ideas for vetting is simply if you don’t participate you can be voted “off the panel.” After all, with ownership comes responsibility. How this panel becomes valuable to researchers and product developers is we are a great value, and that value is derived from quick response, and diverse response to questions.

I’ve also “blocked” on Twitter a few folks who are clearly not at all interested in this project. I try to check in with all new followers to @greggfraley2 to make sure they have a clue about Peregrine. A few highly political posters didn’t care to respond at all, so after several attempts, I’ve given up. One expectation would be simply to communicate.

Another question has to do with “how” research will be done. The panel is communicating now on Twitter and to a lesser extent on this blog and that will continue and at high levels I suspect. However, research will, more often than not, be taken offline to email, or, other tools that are better suited for data collection. There are many tools out there and we’ll be experimenting with many of them in order to figure out what’s best for various types of projects. We’ll be looking at BrightIdea.com, a top idea management tool, WebIQ, and Yammer (if you have ideas here, let’s here them). Of course part of the reason for going to these types of tools is so client can have secure research data. We’ll be breaking conventions at Peregrine, but not this one I suspect.

A more formal website for Peregrine is in the offing, more on that challenge later. In the meantime those of you who are part of the initial tribe (nearly 100 now) point friends and other parties to this blog to learn more about Peregrine, the lightning fast market research and ideation service. I believe that we need at least 500 on the panel to begin selling more formally, so, whatever you can do to spread the word would be appreciated.

Until then, fly with no fear.

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Recruiting “Peregrine Panel” of 1,000 Consumer/Owners

December 5, 2008 – 8:59 am

As I define Peregrine, on the fly, with the help of my initial 68 panelists, the next most pressing issue is upon me. Upon us. That issue is, if we could wave a magic wand, what kind of panelists would we recruit for the “global panel” I’m organizing? Who are the best people for the 1,000 strong, owner/consumer panelists in the Twitter Chorus?

Given the Peregrine quest to do lightning fast market research and provide organizations with ideas at blazing speed, here is a list of attributes I think we need most in panel/owner/participants — and please chime in!

Responsive – When a question gets put on the table we need to react quickly with perspectives, responses, ideas, and ultimately answers that lead to insights. We need to be light on our feet, not ponderous.

Hip – It’s a dated term, but we need folks who are savvy about a lot of things. For a generalist panel we want experts on all subjects. All Subjects. The more we “know” the more we can combine creatively, collectively.

Articulate – When a message is 140 characters or less, as Twitter is, you have to be good with words. Concise, to the point, and meaningful.

Diverse – I believe we need All Kinds of People on this general panel. We can create sub-panels later that are demographically oriented to, whatever is required. For the orignal panel, I think we want: international, multi-lingual, business folks, academics, inventors, entrepreneurs, mom’s, Christians, agnostics, and folks of every ethnic stripe. I’d like a gender balance as well.

Diversity of Thinking Styles – As important as the diversity I talk about above is th inking style diversity. We want introverts, extroverts, innovators, adaptors, visionaries, strategists, tacticians, imaginative, funny, improvisational, and in general as many styles of thinking as possible.

Creative – The original panel has to be Creative above all else. Now, I believe everyone is creative, and, not everyone knows how to use it. Panelists may need to learn how to be truly generative and not just critical/analytical. And it matters how many ideas you can generate, more ideas tends to mean more quality ideas over time. As part of the “vetting” process to formalize the panel, it might make sense to include assessments like FourSight, and/or the KAI measure in order to determine the balance of creative styles on board.

What are we missing?

For more on Peregrine background, read the last few posts here! Catch up and then sign up, follow @greggfraley2 on Twitter. In a nutshell, this is all about using social media to conduct consumer research in a new way. Consumers are invited to participate as Owners, 10% of the equity in Peregrine will be shared by the first 1000 consumers accepted into the general panel, or, Twitter Chorus.

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Emerging Social Media Research Giant, Peregrine

December 1, 2008 – 9:47 am

Last week, coincident with starting a new business venture, I was visited by a magnificent bird. A raptor landed in my backyard, a Peregrine Falcon, with its lunch!  Quite amazing for suburban London. As I contemplated what to call the venture over the weekend that name came to me, Peregrine.  A Peregrine Falcon is not only the fastest bird in the sky, but the fastest living thing. While far from being the biggest of raptors, it’s blazing speed gives it an essential advantage.

Organizations look for a similar advantage in bringing new products and services to market. Innovation is about speed isn’t it?  Being the first to recognize new market dynamics, generating ideas quickly and getting into a new product development cycle, being first in market, it’s all about speed. So, with that value in mind, Peregrine is the working name for this newco.  This is subject to legalities of course. The original panel, and subsequent specialized or private panels and sub-panels will remain nameless for now.  

I see this new social media research services company, Peregrine, as distinctly different than what is currently being offered.  Quick response, very quick turn-around, will be a key feature, but, there’s more.

Yes, there are social media consumer panels in existence already. Communispace comes to mind — they develop private panels.  They are essentially feedback mechanisms. Nothing wrong with that, but Peregrine aims to take it two steps further. I see this new panel(s) as being more interactive and more involved in the entire product development process. Not only do we provide speedy and valuable market feedback, but we also provide ideas for products. We’ll be advising the customer what they should be thinking about pro-actively. Call it consumer foresight, trend-spotting, or “Twutures” it will be valuable in asking the right questions.  

This is a much more active role, not just a passive voice once it’s all been done. So, it’s Research And Ideation And proactive Consultation/Twutures. Our panel will be consumers, and, our panel will be “trained brains” capable of coming up with product ideas based on market insights.  It is hoped the panel will include some of the finest talent on earth, and, we’re going to provide training, guidance, and facilitation that leverages that talent for our customers.

Towards this end, I see Peregrine as using tools like Twitter, Facebook, and other custom made software to help it’s clients. This would include existing idea management systems. We are tool agnostic, but will begin with a general Twitter based panel.

Why should you be part of this start up? Why should you become a panelist in this “Twitter Chorus”? 

If you are an idea person, if you love innovation, if you are passionate about consumer participation in new product development, if you want to have some fun, if you want to leverage your mind to create value, if you want to be involved in a community, a tribe if you will, that is about creative thinking and innovation — then you’ll want to be part of a Peregrine panel.  

As for financial compensation, here’s my current thinking:

The original 1000 panelists will split 10% of the company equity. I could be talked into a smaller number, like 500, but the basic idea is if this company does well the original participants will also do well. We have 35 un-vetted panel participants at the moment. Peregrine would be looking for a committment of time and energy and in return it would provide the promise of:

  - Learning experiences, and engagement with an international online community.

  - Training in various aspects of new product development and ideation, perhaps even a kind of certification as a “trained brain”. I am, as a leader of Peregrine, also convinced that a truly well trained creative panel does not exist.  And who better to create it than a leading creative trainer?

  - Equity as mentioned above. The original panel will Be the company in a very large measure. They will participate in activities normally reserved for “management” — including strategy, planning, fund raising, selling, service delivery, analysis, etc.

  -Small fees, credits, or other spiffs that would happen as a result of specific deals Peregrine would make with its customers.

   - I see the panel as doing things as a community beyond what is required of it by Peregrine. Part of the value of being a panelist is networking with others of like mind, and creating synergies of all kinds. Think of it as a Mastermind group where there is actual training in how to think creatively.

  - Finally, Peregrine will commit to a social cause related to the environment. It may have to do with birds, or reforestation, desalination programs, or something else.  I’m inclined to let the group decide.

If this is of interest to you, follow greggfraley2 in Twitter. You will become part of the initial panel under consideration by joining the Twitterings around that user id. There will be process for becoming a panelist, more on that in blogs to come.

Please comment, this is a fluid process, your input is valued.

For other communications, send me a note — gregg@greggfraley.com, and may the Falcon be with you.

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Social Media Newco Panel Thing - Questions

November 29, 2008 – 6:05 am

Since lauching this new venture on Thanksgiving Day, I’ve realized that while I have an idea, I have more questions than answers. In days past I would have worried about this, but really, it’s a good thing.  Why pretend to have all the answers? I’m breaking new ground here, how could I have all the answers. This will be open business plan development

Here are the questions, please jump in and participate.  Transparency is going to be a watchword at…this..Social Media Newco Panel Thing.   

First question: What to name the venture.  Haven’t started developing a list of candidate names yet, so please send them in.  Looking for a name that is broad enough to encompass using all social media tools, not just Twitter, for market research.  It does not have to be a meaningful name, I’m not the literal sort, but then again, am not against a literal name if it works.  

Other questions:

What to call the Twitter panel?

What’s the compensation scheme for panelists?

What’s the fee structure for corporate customers?

Can I set prices or compensation until I know what folks will pay?  I think not.

Should the Newco have an automatic “give back” feature? As in some connection to a cool cause like wind power or creative education?

This is just the start.  I’m all ears for thoughts, advice, comments, etc. Do it publically if at all possible, but if need be send me a note directly: gregg@greggfraley.com.

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Creating a Twitter Panel for Market Research - TweetChorus?

November 28, 2008 – 9:21 am

Perhaps it was reading Guy Kawasaki’s inspirational Reality Check that got me started thinking. The recent Motrin fiasco added to the mix. Maybe the realization that a once adequate personal pension fund is looking a bit less than adequate now played a part.  Or, maybe I’m just in love with the idea. I’ll go with that!

In any event, I’m starting a new venture, as of Thanskgiving Day 2008, and that venture is about using social media for market research.  I’ll say it generally like that because this will be an evolving business plan.  It’s starting with something more specific, a Twitter-based consumer panel.  The panel, which I haven’t named yet (looking for my community to help) will be a way to get lighting fast feedback from consumers.  If you are interested in participating, go to: http://www.twitter.com/greggfraley2 and click the Follow button.

I intend to break with many of the standard conventions of market research. What I’m planning to do is more about The Wisdom of Crowds than it is about focus groups. Having said that I don’t reject all the old methods, in fact, my future customers will be best served by using new methods like mine and old methods in combination.  I will be offering ideation services to generate and perfect ideas, and those will be done with virtual tools as well.   

When times are tough, what the heck, start something.  I don’t even have a name for it yet, but that’s a fun problem to have!  Stay tuned!  

TweetChorus?

 

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Creative Thanks

November 26, 2008 – 10:26 am

Note to self: Post a Thanksgiving blog about…Thanksgiving. Okay here’s what I’m thankful for, in no particular order, and with an effort to be creative in my thinking about thanking.

• Everybody around the globe who’s bought Jack’s Notebook. It’s been gratifying to hear from many of you and get a sense of how it’s helped people.
• I’m thankful for all the reviewers I’ve found through Twitter and this blog, thanks for posting about my book. An author with no marketing budget depends on people like you, I’m thankful for the mostly kind words.
• My wife Caroline, who is simply nothing but good to me. Love is a lot to be thankful for. Love is what supports creativity.
• For my homes, I’m grateful I have the places I do to reside and work, both in the UK and in Michigan, USA. A home is not guaranteed to us is it?  I’m grateful I have a home. Let’s all reach out to the Homeless in our communities, not just around the holidays but year around.
• For my step-son who teaches me new things every day, even if he doesn’t know it. I never would have heard of Keane or Franz Ferdinand, and would not know anything about Rugby if it weren’t for Arthur.
• For my daughter Meghan who is doing so well and keeps in touch with her Dad.
• For the global creativity and innovation community, you are great friends and colleagues, it’s nice to be able to reach out and find you when I need ideas.
• For my consulting customers who will go nameless here, but I learn as much from you as you do from me. Thanks for your confidence in me and your business, it’s much appreciated.
• To those who read my blog — I’ll continue my best effort to provide items of interest, thanks for reading.

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Creativity Gone Sour, Motrin, Mothers, and Twitter

November 17, 2008 – 7:19 am

Over the weekend I was monitoring Twitter friends and was surprised to discover a bit of a dust up with regard to the Motrin brand. Motrin, it appears, had put up an ad suggesting that mothers who wear those slings to carry their babies are slaves to fashion, and that it hurts their backs. Depending on how you interpret the ad it can also be perceived as calling mothers “tired and crazy”.  It also subtly suggests that the sling is not really as much of a bonding experience as it’s purported to be.  One would guess the original intention of the ad would be to suggest that Motrin is the answer to all the neck, back, and shoulder pain a mom would would get from using a sling.  It was also intended to be a “viral video”.  It was!  And it was Not Good! A virtual firestorm of negative reaction went aflame on the web.

Motrin, to put it mildly, has really stepped in it (McNeil Consumer Healthcare owns the Motrin brand, McNeil is a division of Johnson & Johnson).  Rumor has it that Amy Gates  (aka “@crunchygoddess on Twitter) learned about it on Facebook, who told Jessica Gottleib (aka JessicaGottlieb) who took it to Twitter and tweeted — to a huge community of mothers, bloggers, and knucklehead social observers like myself. Then Katja Presnal (aka @KatjaPresnal) created a response video for YouTube. 20 hours later the Motrin brand website is offline…

From a creativity and innovation perspective there are two points about this event I’d like to make. 

1. Creativity isn’t useful or innovative unless it solves a problem.  Creativity in a vacuum by some ad executive — who think they know the market — can be worse than useless, it can be damaging.  We’ve all seen some visually interesting ads and at the end of it said, that was cool — what brand was it?  The Motrin ad goes a step further, it’s creative thinking that actually harms a brand. One of the rules of structured creative problem solving is that you really understand the problem. Clearly, those who developed this ad don’t understand the role of slings, and the emotional connection mothers have to them.  Now, it may be that slings do indeed cause some pain.  Good research might have uncovered this insight. However, that insight alone, even if true, is not quite enough. In good creative problem solving you would not only understand the basic problem, you’d make sure that whatever you create as a solution works for the problem owner, the target in marketing terms. Mom’s clearly were offended by the ad’s tone, assumptions, and suggestions. Motrin aimed for empathy and simply missed the target.  With web technologies, like Twitter and other tools, lack of funding is no excuse for not market testing. It’s incredibly easy to show a spot to a panel via the web.  Why they didn’t do this is a mystery (or if they did how they missed the negative response). Traditional focus groups would have worked for this testing — if properly designed.  I don’t agree with Peter Shankman, a social media guru, on this (his post on this event is otherwise brilliant IMHO).  A series of focus groups might have “iterated” the spot and found language that was truly empathetic (or not, the concept may have been unsalvagable). What Peter and I can agree on is web tools like Twitter would have quickly given creators much needed consumer feedback on their ad concept. There is something to be said for the wisdom of crowds in the social media universe.

2. Social Media are Power Tools for creative and innovative self expression.  Social Media is coming of age in a fast and furious way.  They are powerful and can work for you, or against you.  Yes, this might seem obvious, but I believe there is a vast universe of people who are missing the social media boat.  I’m personally a Greggey-come-lately to social media. I’ve been on Facebook, Plaxo, and Linked-In for sometime but for the most part have found them to be a waste of time. Don the Idea Guy got me involved with Twitter and I thought, at first, it was completely silly — who would care to know “what I’m doing right now”? Why “micro blog” when you can macro blog or email?  I didn’t get it, but am beginning to see the light.  The lightning speed at which an organized response to the Motrin ad was put together was amazing, and it can be directly attributed to Twitter. An alert was messaged “tweeted” out and before one could blink there was a video on YouTube with all the outraged responses (nicely done and oh-so-timely by Katja Presnal).  Last night it was still possible to see the original ad on the Motrin site, today I can only find it on YouTube. In fact the Motrin brand web page itself has been taken down, I suspect, for re-tooling in light of  this marketing fiasco.  From ad release to brand web site shutdown — less than 20 hours. Lesson here: be careful with power tools! 

It will be interesting to see how Motrin responds to this.  How they respond will be make or break for the brand.  For more on this story see Fast Company’s take.

For more very short snippets of creativity and innovation news and views, follow me on Twitter: www.twitter.com/greggfraley

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