The Power of Facebook

Last year, me and my friend were planning to set up a business research firm in India. Brainstorming various ideas on what our business model would be and how we would price our products, we stumbled upon probably the most important question. How would we target our potential customers? How would our customers know about our value proposition? That is, how would be position ourselves in the crowded marketplace? In the age of the internet and social networking, what would be the most potent way to showcase our products?
When Mark Zuckerberg found Facebook seven years ago, he meant it to be largely a website where friends would gather and socialize. But, look at the way the website has transformed businesses globally and will continue to do so over the next several years. Big multinationals can spend billions on targeting customers and positioning of brands through various marketing campaigns, small businesses find themselves at a disadvantage in this respect. Facebook and other social media channels provide them the visibility and reach.
Take for example Mona Sandhu, a small costume jewellery designer in Haryana, India. The ambitious businesswoman had a few loyal customers before she created a profile on Facebook with product descriptions. And, then, business simply boomed. She landed an order on the day she created the Facebook profile. She currently organizes various jewellery exhibitions in the US and Europe for her major clientele. Evidently, Facebook has brought her customers closer to her and helped her position her business properly in the market. Google and Twitter are other prime examples of online media channels that has enabled small businesses create a niche for themselves in the market.
These are certainly exciting times, i.e. if you are selling through online social media. Watch out for our business research company profile on Facebook!

Bring them closer

When I landed in Canberra at the beginning of the year to pursue MBA at ANU, it was the first time I was so far away from my family back in India. Naturally, the first thing that came to my mind was how could I communicate regularly with my family. International calls to India are too expensive so that option was untenable. Was there any cheaper alternative available?
Lebara Mobile came to my rescue. I came across this company at the Canberra Multicultural Festival and found that their product suited me fine. The company offers free sim cards and cheap international calls, targeted at the large number of overseas students spread across various universities in Australia. Various top-up options such as $10, $20 and $30 are available. The call rates are quite low: for instance, calls to India cost 20 cents/min (the company had a promotional offer rate of 0 cents/min when I first bought the sim). In effect, the company seeks to bring my family members closer to me and the marketing tagline 'Bring them closer' helps them connect with the customers. The company creates value for the students and makes money through the large number of subscribers.
Advertisements of the Lebara sim cards are ubiquitous in various stores in ANU and other shops in Canberra. This, I believe would be the case in Sydney, Melbourne and other cities as well. Interesting, other companies are trying to cash in as well. Just the other day, I found a company called Lyca Mobile providing free sim cards and cheap international calls to various Asian destinations.