Archive for May, 2011

The Value of Social Media – costs and benefits

Tuesday, May 31st, 2011

What’s the real value of social media?

Costs: These stats, which have been aggregated by Focus.com, show some good insights into how much brands are paying, on average, for their social media strategy and activities.

Benefits: The second half of this infographic shows some good stats on the benefits of social media, including a comparison of what an average Facebook fan will spend on certain brands compared to a non-fan. On average it shows that a Facebook fan is 28% more likely than a non-fan to continue using a brand and that fans are 41% more likely to recommend a fanned product to their friends. What’s a Facebook fan worth to your brand?

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Four Facebook Marketing Tactics You Might Not Know About

Friday, May 27th, 2011

4 Facebook Marketing Tactics You Might Not Know About

May 25th, 2011 – Posted by jennita

So you think you have Facebook all figured out. You have your fan page with a couple custom tabs set up, you’ve started an ad campaign and every one of your products on your site has the “like” button installed (which increases revenue). Easy peasy, this Facebook stuff is a cinch! Well you’re right, it all is pretty easy to implement, but what else could you be doing? What other ways can you utilize Facebook (and its 500 million active users) to help market your company?

These four tactics we’re talking about today aren’t all new necessarily, but they’re fairly new to me.  Let’s dig right in and take a look at these four Facebook marketing tactics you might not know about (but now you will).

1. Facebook Insights For Your Website

Yes, you read that right. Now, I’m sure you have all seen Insights for your fan pages, but did you know that you could get Facebook Insights for your website? This is a great way to get information about content people are sharing from your site, user demographics, likes and other goodies. We recently set this up and were quite surprised at how much data you could get. Here’s a quick blurb straight from Facebook:

Facebook Insights for Domains offers a consolidated view of key metrics for any website, even those that have not implemented Facebook Platform. For example, if a user links to your site in their Facebook status message, that data is included in the analytics for your domain. You can access sharing metrics and demographic information per domain and per URL so you can optimize your content for sharing and better tailor your content to your audience.

First off, it’s super easy to set up. Go to http://www.facebook.com/insights/ and click the green “Insights for your Website” button in the upper right hand corner. You’ll get a pop up box like the one below, then you just simply add the meta tag inside the <head> tag of your site.

Add Facebook Insights to your website

Once you have this in place, the next time you go to the Insights page, you’ll not only see your fan pages, but you’ll also see your website show up as an option. Below are a couple views of the data Facebook gives you about your site.

This view shows the organic shares of our content by days
Facebook Share Story CTR

This view shows the demographics on people who have liked our content. WHOA!
Facebook demographics



2. Facebook Comments

I’ll be honest here, I was a big skeptical about why anyone would want to use Facebook comments… that is, until I saw it in action. Let me just walk you through my reaction the first time I posted a comment on TechCrunch which now uses Facebook comments.

1. This is cool, it looks like my comment will get posted to Facebook. Hmm, I wonder what that means really?

2. Cool! It means my comment showed up on my wall.

3. But wait… what? It also showed up in my friend’s feed! This is what my boss, Jamie saw in his feed:

4. Within minutes, my boss and husband replied to my comment on Facebook. But not only did their replies show up on Facebook, they also showed up in the TechCrunch post. Whoa… imagine the possibilities!

What makes Facebook comments so great:

  1. Your comments get read by a lot more people.Neither my boss or husband would have ever read that simple comment I made on TechCrunch. But because it showed up on Facebook, they saw it and replied right then and there. TechCrunch ended up with three comments which they would have only gotten one in a different commenting system. Hello UGC!
  2. Cuts out a lot of spam!Facebook does all the work of figuring out if a real person is commenting or not. The person has to be logged in to Facebook in order to comment, so you don’t get anonymous users. Obviously there are some drawbacks to this since not everyone has an account (the horror!), but you could offer multiple ways to comment like TechCrunch does.
  3. Simple comment moderationFacebook makes moderation pretty darn easy. You have quick access to edit, ban and subscribe yourself to certain feeds.

3. Local Business Listings

If you’re a small business owner or local business, you may have already noticed these random Facebook pages showing up for your company. These are pages automatically created by Facebook. Initially I was pretty annoyed by these, but then realized you could utilize them for your advantage. Let’s take a look at an example of a bar in NYC.

Run a search for “billy marks west” and you’ll see one of these pages in the SERPs

Ok so these pages can rank for your branded name, which could help you take over a SERP for your name. The crazy part though, is that Facebook lets anyone (yes… anyone) edit these pages.

Sure it’s a little crazy that the edit button is open to everyone, but if you keep it on your radar and remember to check the page often, you can ensure the information doesn’t get changed incorrectly.

Facebook is trying to get updated information about all types of locations, including cities. For example, when I went to the New York, New York Facebook City page, I got a pop-up asking me to edit it.

This page shows 3 of my friends have checked in at the MoMA

Which led me to the “community edit” page that asks me to add detail about New York City. Whoa… so I can add information about New York? Again, imagine the possibilities.

Of course, this could also lead to people adding incorrect information, trolling your company and many other negative things. But if you keep your local page up-to-date and keep track of the edits, you have yet another page in your marketing arsenal!

4. Facepile

I’m going to be honest here, I sometimes just like to yell out “Facepile!” It’s just a fun word to say. :) Ok, ok I’ll get back on the subject at hand. You may not know the name for it, but I’m sure you’ve all seen something the image below before, right? Facepile is the plugin that displays photos of your friends (as long as you’re logged into Facebook) who like the particular website you’re on.

But have you thought about taking this one step further and adding Facepile to a conversion page? Just how much do you think your conversions could increase if users saw their friends smiling faces right before they signed up for or purchased something? Foursquare does a great job of this if you go to one of their location pages not logged in.

I went out looking for other great conversion pages that use Facepile and I ran across the MailChimp sign up page. Sadly there’s a big huge “white space” area which could probably benefit from adding this feature. Here’s a (horrible) mock-up of what it might look like if they added Facepile to that bare area.

Now there you have it. Four Facebook marketing tactics you might not know about. For me it’s always fun to find these “hidden” gems, especially when there right there staring you in the face. What other tactics do you use that may not be very well known?

BrandXads, Inc: providing social marketing solutions for today’s marketer.
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Morgan Stanley allows its Brokers to use Social Media!

Thursday, May 26th, 2011

By Joseph A. Giannone

NEW YORK | Wed May 25, 2011 10:55am EDT

NEW YORK (Reuters) – Wall Street banks clamour to underwrite stock for social media companies like LinkedIn and Twitter, but the online networking sites are largely off limits to the banks’ financial advisers.

Now, the country’s largest retail brokerage, Morgan Stanley Smith Barney, has become the first major wealth manager to allow its brokers partial use of Twitter.

And it is the latest wealth adviser to permit the use of LinkedIn (LNKD.N), the professional networking site that went public last week.

The change will start slowly next month with a test group of 600 Morgan Stanley Smith Barney advisers, according to an internal memo obtained by Reuters. Within six months, the program will be expanded to the firm’s entire force of 17,800 advisers.

“The emergence of social media has changed the way in which people communicate with each other and companies interact with clients,” Morgan Stanley Smith Barney U.S. wealth management boss Andy Saperstein said in the memo.

Communications by brokers, whether to clients or to the broader public, is closely monitored by regulators guarding against investment scams or misleading advice. Old-fashioned media like recording of telephone calls and emails are retained, archived and screened.

Yet brokerage firms grew anxious as hundreds of millions of people — including their customers — embraced Twitter, LinkedIn and Facebook as their preferred way of communicating with friends and getting information. The Financial Industry Regulatory Authority last year established rules for social media use, but Wall Street has been slow to let brokers participate.

To comply with regulatory requirements, Morgan Stanley Smith Barney will install technology to capture and retain all communication on approved social networking sites, according to the memo.

Brokers will be allowed to distribute research and content, such as status updates and tweets, but only those approved in advance by the firm.

The test group includes Morgan Stanley Smith Barney’s elite “Chairman’s Club” brokers and about 100 advisers who have been testing use of LinkedIn. The retail brokerage is a joint venture of Morgan Stanley (MS.N) and Citigroup Inc (C.N).

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Twitter user reaches 10 million Followers.

Monday, May 23rd, 2011

Lady Gaga is the first Twitter user with more than 10 million followers. It happened last week.

Lady Gaga celebrated this milestone with a tweet saying: “10MillionMonsters! I’m speechless, we did it! Its an illness how I love you. Leaving London smiling.”

The mega-popular music celebrity is a huge social media star, having been the most popular user on Twitter for quite some time now. She was also the first person to hit 10 million fans on Facebook, as well as 1 billion views on YouTube.

Lady Gaga recently partnered up with social gaming company Zynga to launch GagaVille, a Gaga-themed offshoot of Zynga’s hit game, FarmVille.

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Social Commerce – selling products through social networking sites

Thursday, May 19th, 2011

Consumers spend twice as much time on Facebook than they do on the Web’s top 500 retail sites combined.

By DANA MATTIOLI

Retailers are trying to get customers to spend more than just time on Facebook Inc.

In the past six months, such companies as Starwood Hotels & Resorts Worldwide Inc., J.C. Penney Co. and GNC Holdings have invited customers to spend money by shopping on company fan pages without ever leaving Facebook.

The move to attract sales through social-networking sites comes as people are spending more time online and less time at the mall. E-commerce has been one of the biggest drivers of retail sales in recent quarters, with online sales rising 28% in the first quarter, compared with an increase of 4% for bricks-and-mortar stores, according tosurveys by the National Retail Federation.

J.C. Penney launched a Facebook shop in December, allowing its 1.6 million fans to shop directly from the social-media site. The Facebook store offers the same products as Penney’s mobile store, a company spokeswoman said. But the Penney Facebook shop lets fans “share” items they like with friends with a simple click.

Fans are able to browse categories in J.C. Penney’s Facebook store such as women, shoes and baby, and then narrow down each department by the types of product they are seeking.

“We need to go where our customers are,” says Jeff Hennion, chief branding officer at vitamin-retailer GNC, which has been directing fans to the Facebook shop it launched in February through emails and its Twitter feed. The company recently sent an email blast that said, “Why leave the social scene to shop? Get what you need right on Facebook!” and then prompted recipients to “like” its page.

Revenue from the GNC Facebook store is slim, but Mr. Hennion believes it could become a “significant” source of online revenue in the future. “We have a very young demographic that is multitasking, and this gives them the comfort that they aren’t leaving Facebook behind,” he says.

While the portion of overall retail transactions coming from Facebook remains small—Forrester Research estimates Facebook accounts for less than 1% of overall e-commerce—companies like GNC believe so-called “social commerce” could become an important sales driver in the future. Americans spent 22 minutes and 10 seconds on Facebook in April, more than twice the amount of time they spent on the Web’s top 500 retail sites combined.

Yet most analysts remain skeptical that consumers will want to spend money while they are socializing online. Forrester Research issued a report earlier this year that said there is little evidence that social commerce is a profitable growth strategy.

Without “measurable success” for large brands over the course of the next year, Forrester said, companies that herald Facebook as the next big thing in e-commerce have “the credence of a cultist who insists that the world will end next year.”

Sucharita Mulpuru, the Forrester retail analyst who led the report, says people often don’t revisit fan pages after initially “liking” them, though she suggests that consumers might be lured back by offers of exclusive merchandise or special sales.

Mark Beccue, a senior analyst at ABI Research Inc., says that consumers buying goods online are very purposeful, and they typically rely on search engines or go directly to a company’s website.

“People are just starting to engage with this concept and are testing it,” concedes David Godsman, vice president of global Web services at Starwood, which added a shopping tab for its Westin brand in January after fans wrote on the company’s Facebook wall suggesting the idea.

Mr. Godsman says only a handful of the hotel’s branded “Heavenly Beds,” which sell for $1,100 to $1,700, have been purchased through Facebook, but he says that smaller-ticket items like its $36 candles are gaining traction.

The Westin Facebook shop is identical to its online shop, but it doesn’t have the same advanced search capabilities, Mr. Godsman says.

Visitors to Facebook fan pages can find shopping tabs on the left-hand side of the page, typically under the photo. Clicking the tab directs consumers to a shopping site built on the Facebook platform, which is often similar to a company’s main e-commerce site.

Facebook doesn’t charge retailers a fee to add the shopping function, nor does it take a cut of transactions that occur on its site. However, companies typically outsource the project to developers that charge at least $10,000 to add the feature.

“Rather than simply bringing their existing Web experiences to Facebook, we believe retailers who provide deeply social shopping experiences will see the most success,” said a Facebook spokeswoman in an email.

Facebook also makes it easy for customers to trumpet their purchases by sharing them with friends in their personal news feeds. Most customers are given the option to post purchases to their news feeds automatically.

For retailers, selling on Facebook is also compelling as a market-research tool. Facebook offers retailers detailed information on customers, including “demographic information like age, sex, how popular people are and how much they share and ‘like,’ ” says Jason Taylor, vice president of platform strategy for Usablenet, which develops Facebook shopping tabs for retailers.

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Honda launches Social Media Contest

Wednesday, May 18th, 2011

Honda Brakes for Great Songs, Launches ‘Sounds of Civic’ Social Media Contest

Br Rick Mathieson

The “Sounds of Civic” could score you a 2012 Honda Civic – not to mention a music career.

Honda announced today the launch of a new social media songwriting contest that will have users vote on contestants, who will vie for the chance to get the aforementioned car and $2,500 in musical gear from Sam Ash.

Such UGC contests go back a while, of course. As Norman Hayshar of Young & Rubicam recently told NPR, while the term “user-generated content” is fairly new, “the concept dates back to the origins of advertising in general, it’s as old as advertising itself.”

Indeed, jingle contests date back to at least the 1940s. In Hayshar’s view, this new wave is being driven by two forces: the popularity of YouTube and TV’s “American Idol.”

“Mix these things together, and what you’ve really got is a creative power-to-the-people movement that is reflected, as it always is, in the culture of advertising.”

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NASA and Its Expanding Commitment to Social Media

Tuesday, May 17th, 2011

On the same day NASA’s Endeavour Shuttle blasted off for the last time, the agency also launched a new way for us to find out about its many missions.

NASA’s new Slideshare Network, dubbed “The NASA Universe,” kicks off with a video that explains the history of the Endeavour Space Shuttle. Interviews with Endeavour’s crew, a timeline of shuttle launches and other interesting NASA documents are also available.

“Think of it as NASA curating some of the best content from NASA.gov,” explains Stephanie Schierholz, NASA’s social media manager.

Schierholz says that the channel is just one part of NASA’s expanding commitment to social media — which it has been ramping up during the past few years, as many of the journalists who traditionally covered the space (pun intended) have been laid off or given new assignments.

Since 2009, the agency has started more than 100 Twitter feeds, while maintaining multiple accounts on YouTube, Facebook and Flickr.

“Our strategy is to share what we’re doing as widely and broadly as possible,” Schierholz says.

Slideshare might not be the first platform that people think of when they think of social media reach, but the site does claim to have more than 50 million monthly unique visitors. Companies like IBM and Dell have also signed on to share their multi-format content on the site with the platform’s new branded network option.

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Social Media Traffic vs Web Traffic…

Tuesday, May 10th, 2011

If you want an example of the power of social media, consider this:  Starbucks gets 1.8 million visitors to its website every month, Coca Cola some 2.7 million.   By contrast their Facebook pages get 19.4 million and 22.5 million respectively, roughly 10 times the traffic.

And, most importantly… every one of those people has given those companies permission to TALK to them.  Think about that.

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Social Media: an essential part of any company’s marketing strategy

Friday, May 6th, 2011

By smthree

Three events in the last week have demonstrated that Social Media has been raised to the status of utility. Like your phone, electricity and water – Social Media is an essential part of the daily routine of an ever increasing number of people.

From The Royal Wedding to the tornadoes in the US South to the death of Osama Bin Laden – Social Media has become the message. New breaks on Twitter. People react, share, celebrate or mourn on Facebook. And we all log on to You Tube to see it for real.

The days of gathering around the radio or waiting for the newspaper are gone. We not only get instant information – we can respond and react in real time. We are now part of the process.

If the events of the last week do not convince the laggards in the business and non-profit worlds of the need to make Social Media a part of their communications strategy – then nothing will. Social Media is now a reflexive part of our culture. And, with each new event it becomes a more ingrained habit.

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The Importance of Social Media Marketing: 3 Key Benefits

Thursday, May 5th, 2011

Benefits of Social Media Marketing

Writing by Nick Stamoulis

Where is this crazy social media landscape heading? Many businesses in today’s marketplace realize that they need it, but they don’t really completely understand why they need it. In some instances, it can be difficult to explain to a business that might have already been successful way before the days of search or even the internet, that they now need to use Twitter to spread their business message throughout their audience.

If this situation sounds familiar to you, here are some of the true benefits of social media that you could be missing out on by not taking advantage now:

Wider Audience Reach
The reality is that there are a lot of people utilizing social media for business and personal reasons on a daily basis. Even people who use it just for personal reasons oftentimes bump into something that could help them on the business side. By not taking the time to apply social media to your business you could very easily miss out on a great deal of potential eye balls that might accidentally bump into your business.

Audience Interaction
Think about how much effort had to go into interacting with your audience before social media came around. Whether it was a company event or trade show, things required a tremendous amount of resource to get started. Audience interaction is something that is very important in today’s online marketing space because it ultimately instills confidence in your audience, allowing them to look at you in a whole new light.

Proactive Branding
Social media, when done correctly, also allows your online brand to grow and not just your rankings. Website branding is just as important as website rankings and with branding comes much deeper market penetration in front of your audience.

Social media marketing is the ability to carry more than one conversation [and promote your brand] online at the same time in a variety of locations across the globe. That ability is something that does not come cheap in the offline marketing game. The platforms for the conversations to occur are only growing in strength and popularity and more and more companies are really starting to embrace social media.

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