New levels of online collaboration - Book publishing

WEbook.com intends to change the way books are written. It is an online resource for aspiring authors to collaborate and write books online. The site applies an interactive approach to the book publishing process by using the internet as a platform to connect truly brilliant writers to print publication. Think of it as a virtual studio lounge for writers, where literati collaborate on project work, and provide valuable feedback to one another in real time. If the finished piece makes the cut, WEbook funds publication of the best books as printed books, e-books, and other customized downloads. The authors involved share royalties on book sales. Authors can also write the book in private, inviting a small group of friends to log in and provide feedback. The service is emphasizing non-fiction mostly - anthologies, self-help, and essay collections, more than novels where a consistent author's voice matters more. An invitation only version of WEbook went live in 2007 inviting students and graduates from University writing programs to join in writing Pandora, a thriller novel about terrorists and star crossed lovers.

About 700 people are now members of the service, working on 60 projects. The idea is that an "all contributors welcome" approach can bring more creativity and innovation to a book project than an individual or a small group of experts. However, completing a book with a single vision with dozens of authors is definitely a challenge !

Advanced digital ink technology - Digital Book Readers - Online book writing - Do we see a major shift here?

Youtube - The new advertising hotspot

In their quest to connect with the next generation of Toyota Corolla buyers , Toyota has embarked on a strategy to advertise on Youtube. With viewers migrating online and Youtube accounting for roughly a third of all online video watching, the portal is a new advertising hotspot. Toyota has set up 2 channels on the site and has invited creative users/companies to post 2-3 minute comic sketches with some exciting prize money on offer. The aim is to involve the user as part of the branding/advertising activity. The idea is fantastic although the concept must be administered very carefully. In the digital world, with ruthless feedback, companies can either hit the bulls eye or be relegated to an embarassing position through negative word of mouth publicity.

Coming back to the channels, the new Corolla features prominently on the channel's homepage, with links to Toyota's site and other Toyota created video spots that promote the 2009 model. But fact is, when it comes to user created videos, the Toyota Corolla is nowhere to be found. There are videos with guys driving a Honda, and another with some dudes fighting over who will sit on the front seat of their BMW. If the online coversation is about the videos and Toyota is not a part of those videos, then people don't talk about Toyota. Most viewers would simply watch the videos and not visit Toyota's channel home page which actually promotes the car.

However, this form of advertising represents a true shift toward involving the customer as part of creating the experience. Previously, advertisers used to figure out what customers wanted to see. But in the online environment, customers are participants.

Another plus is in terms of market research. Companies spend a lot of time trying to learn how customers relate with their products. Enaging customers in this manner is a lot like holding focus groups - companies might get feedback about their products and just might learn something.

It is clear that advertisers are not moving online as fast as consumers are. The potential gains could be huge. Do we see online advertising disrupting traditional advertising anytime soon? Only time with tell.

Facebook - Innovation Lessons

How many times have you read articles about Facebook being the next Google and so on? Fact is the brouhaha isn't going to stop any soon. Fact is Facebook IS currently a hotbed of innovation and there much that companies can learn and use. The phenomenon that is Facebook, is making huge waves in corporate circles and universities.

• Last Fall, a psychology professor at Stanford asked his students to develop applications for Facebook as part of their class.
• We could soon see many media companies developing Facebook applications to promote new movies or TV serials.
• The power of the Facebook platform is such that innovators could quickly generate market feedback about a newly developed product/service.

Facebook currently has around 66 million users and while many of these are students and graduates, users 35 years old and older account for more than half of Facebook's daily visitors. Companies really need to think beyond commonplace products and service platforms to catch the next innovation wave. Some Facebook lessons to be learnt.