Tag Archives: Social Networking

Business Social networking experiment part 2.

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Well ecademy was certainly interesting. Priding itself with the tag line; “Successful business people join ecademy to do more business”. After the relatively pain free login, I was taken to this page that had sooo much information for me to read and soo much information that they wanted, that I became somewhat discouraged and I’ve decided to move onto the next site on the list. Not a good start for a business social networking site. It shouldn’t be so hard! One note, I keep getting lots of unsolicted emails from users welcoming me etc etc.. The only difference is their names aren’t Mandy, Ashley, and Monique…

Next on the list entremate and I have just clicked on the darkest, most illegible eula/t&c I have ever encountered. God knows what I just agreed to. Time to edit the profile. Not much here to be honest, and it seems to be essentially a bbs. Now how far is that going to get me?

Next up was Friendly Favors, I’m going to give them a second chance on a first impression since I was getting database errors for the better part of yesterday.

Konnects, I liked, it was fairly intuitive and easy to set up and the influx of emails wasn’t too bad. That’s one bad aspect of Ecademy, they like to spam with people essentially “there” to help you. But we’ll see. Here is Konnects pitch: Do more with Konnects Get your own professional space online:

  • Grow your business
  • Find a Job
  • Access 1000’s of communities
  • Centralize your network
  • Join discussions
  • Let others find you
  • and much more.

    • Something to remember is that with all social networks, it doesnt happen overnight and with each network that you are in, you have to get your bearings and contribute and share and grow your page and your presence. With that being said, When I logged in to Networking for Pros, they essentially said, screw the advertiser model, we want your money to use our site. So I said to Networking for Pros. screw you, I want free. And Off I went.

    Real contacts touted itself as a social networking site but really its the old Monster jobs site model. Its employers connecting with job seekers and nothing more, so I was outta there. And on to Ryze I went. I signed up and was fully expecting quite the expereince given all of the back slapping it gave itself. But to be honest, I didn’t think there was much under the hood. You know one of the things that a lot of social networks assume is that you are able to or want to,”invite your friends”. Has it dawned on anyone that maybe you don’t have any friends or maybe you don’t wanna invite anyone within your circle? That might be why Facebook has a leg on all of these. They allow you to look for your group and just join. Then it’s up to you to connect within the group.

    So I came away from Ryze with a shrug of the shoulders and a “oh well” attitude with zero expectations. I liked Spoke, it had a nice interface and essentially asked for the same ole same ole in regards to the information it was looking for, but it might be worth going back and building on the intial info that I have provided them. The last one in the group is Teng which is is a professional community of selected Chief Information Officers, Chief Technology Officers, vice presidents and directors of technology with organizations ranging from startups to the global Fortune 100, from non-profits to government agencies. The interface sucked so I’m not sure if it’s just a source site for someone to collect names. I went through the initial steps, so I’ll let you know.

    Ok, so I have gone through all of the sites that were on the list and for now I’m going to focus on 3 of them for now. Those will be Spoke, Konnects and Ecademy. Those 3 seemed to be the best of the bunch and may have the most potential for something. I’ll try and go back and contribute and share and upload and do the things we do in social networks, but for now, you’ll just have to wait and see. One more thing, I did not include Linkedin and Plaxo, which were suggested, because one is clearly THE business social network at the moment and the other is more of a tool for sharing contacts.  So I wanted to look beyond those. especially the ones that I can get something from without shelling out any coin. Have I missed one, that we should evaluate?

    Customer Acquisition in Social Media Marketing

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    After reading this entry in Top Rank Blog about tips for marketing with social media, something crossed my mind. Though there were some great tips on things that people can do to use the power of social meda to bolster marketing, I was not seeing THE sure fire way. It was gray. I think it’s still gray, and I’ll tell you why.

    Lets take for example Client A. Client A wants to use social media, has heard about social media or at least has heard about blogs for example, and wants to use it to drive traffic to his or her sites, increase sales and or use it for branding purposes. That seems to be a safe assumption for most companies.

    Well those are all well and good, but first things first. Where does the client go? You have consultants running around out there claiming to know how to do it, but by the looks of the tips. I saw nothing that was a “business process”. I saw a here try this, or this works, or a you might want to try this or I have seen that…..Get the point? A client needs to know what are you going to do, how are you going to do it, how long is it going to take, and what will I get from your efforts, amongst other things.

    The problem is, with social media, though you can measure traffic to a certain degree, the “process” or the initiation of a social media campaign is not an overnight phenomenon. there are some instances of it occurring from a viral marketing standpoint but It’s a process that needs to be cultivated. The issue that most clients have with this business model is that they don’t have time to nurture their presence in social networks. Their businesses require immmediate results and returns.

    Businesses know this and need to know this: 1) Here is my customer I know what it takes to acquire this customer via this form of advertising, sales and marketing and channel. 2) Here is my customer, what is it going to cost me to acquire that customer through social media? And what are the steps that you are going to take and what are they going to cost me for you to achieve that? After you first explain to me what social media is…

    After they ask you “Is it like Myspace”? 

    If you the social media marketer come to me and say, “We’re going to create a Facebook group for you, A couple of blogs, maybe a bbs, a couple of microsites, and we’re also going to Twitter and use Stumbleupon as well as a handful of others.” I’m first going to say, “Huh?  and then “ok, what is that going to do”? And you’ll say, “We’re branding you, and we’re driving traffic to these sites and pages and they’re finding out more about you”!.  To which I will say, “Thats great, how many sales can I expect? What kind of conversion rates can I expect from social media???” At that point I better get a really good answer or another plan that perhaps uses a widget or two that is placed in strategic social media sites that can drive traffic and convert sales.

     That’s the real question, or rather one of the many questions. Here they are and you might want to use them as you are approached by social media marketers or companies who will claim to know what they are doing.

    • What is your social media plan?
    • Do I need sales, leads or traffic
    • What types of social media do you plan to use and why those? and why not these?
    • What will be the upfront costs? What ongoing costs can I expect?
    • What will be the costs of customer acquisition? A cost per acquisition model certainly applies here!
    • How long will it take to roll this plan out
    • What kinds of deliverables can I expect and when
    • What is your track record
    • Have you ever worked with this type of product or my type of company before?
    • How successful have you been
    • What will it take to manage it on my own
    • Lets focus on some deliverables
    • Lets set some benchmarks with incentives
    • What is your plan to integrate this social media plan with our other marketing plans
    • What if you fail
    • What guarantees do I have
    • References

    The key here is alot of agencies are starting to add social media as it’s own division within their companies. Though there are very few companies and agencies who have done it right over a sustained period of time, because of the “new-ness” of it all. It’s up to you to figure out who can deliver what, and in what time frame. The last thing you need is for someone or some company to experiment with your brand as they muddle their way through figuring out just what works and what doesn’t work with social media marketing.

    Lastly what companies and businesses and people need to realize is that social media marketing is a moving target. It’s changing and morphing into something different every day. The reason is, marketers are figuring out new and unique ways to leverage the media to the advantage of the client. Some are proven, some are loopholes, some are brainstorms and some are just plain strokes of genius. Though you still need a concrete strategy as you go forward. It doesn’t hurt to have someone who is willing to take a chance or try something different on your behalf. Keep that in mind as you work your way down the bulleted list. The first of many steps will be finding someone who knows social media marketing and actually has a business model wrapped around social media marketing. As it is a moving target, I’m sure that there are some differring opinons on this. What do you think?

    Social networks tied to every product, service and brand…Don’t laugh.

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    So the logical evolution of social networking is taking hold. In todays volatile marketplace, the success of manufacturers, advertisers, marketers, and media companies in creating long-term value and stickiness depends primarily on their ability to develop great stategies wrapped around great value propositions quickly. So what better way than to use the power of social networks?

    I use the terms great strategies and value props. because todays consumers are as discerning as they have ever been. Why? Because they are armed to the teeth with more information than they know what to do with. And now with social networks, the ability for consumers to talk and share and recommend virally, is as big a challenge for marketers et al. as it has ever been.  But it can also be a major home run if done right.

    That strategy appears to have taken flight with Viacom for instance. You may not know Viacom as well as you do their MTV properties. Having said that, MTV has recently announced that is jumping back into the social-networking game. In 2005, News Corp. outbid Viacom for social-networking giant MySpace.com. Since then, Viacom has largely been on the sidelines in the growing market. Now the company is focusing on creating a vast array of highly targeted Web sites that are loosely connected and focus mostly on programming such as VH1 Classic, Jackass, and Sucker Free on MTV.

    When we mentioned product-centric strategies earlier, this is a case in point where Viacom/MTV has a solid brand they are looking to grow and expand  into new markets and new channels using all of the resources available to it. One of them being social networks.

    MTV’s highly-targeted web sites will be at the core of the company’s digital efforts. MTV sees its content as its strength, and thus they have  decided to wrap that content with the power of social networking. In the past year, the company has constructed 32 new sites. The idea is to create a type of assembly line for Web sites. Those sites that find an audience will continue to be nurtured and those that don’t will be stripped down and “reskinned,” or refitted for the next experiment. Kind of like the 10 day “look-see” contracts athletes get in professional sports. They essentially have 10 days to impress. If they don’t, away they go. 

    Interestingly enough, the company  doesn’t plan to spend a lot of cash in promoting the sites. The reason being that they have the utmost confidence in their content and the viral ability of the Web to spread the word. Given that lack of faith, I’m going to give Viacom/MTV a 10 day look-see to see if this particular strategy pays off. It almost gives you the sense that they are saying,”we love your idea, we just don’t want to sink much money into it, until it works”.

    While killer business processes, off-the-hook customer service, and bleeding edge technology all play vital roles in todays web 2.0 world, companies that create and buy into solid product-centric strategies and processes with the customer in mind, will be those that build valuable loyal brands and profitable businesses beyond the 21st century. It remains to be seen though if this particular strategy will pay off for Viacom/MTV.

    Buzzword Compliant

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    Can anyone add some scalable and yet granular social networking, web 2.0 buzzwords to this bingo card to essentially bootstrap this into a viral marketing message?

    buzzword-compliant.jpg

    The social networking experiment for business

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    Ok so much has been said about whether social networks are good for anything beyond poking someone and building a nice page that your six friends can check out, that I thought it would be interesting to see what the results would be if I had signed up for not 1 but 10 business oriented social networks.

    Before I begin I need to set some specific goals though as to what I want to achieve. Do I want to meet potential business contacts? Sure I do. Do I want to help someone else get a project or a job or make a contact? Sounds like a good idea. Ok lets see what else? Drive traffic to the blog? Not a bad thing, but certainly not the end-all-be-all. Ok, so these are good starting points. However, I have no preconceived notions yet, but who does when someone signs up for one of these sights? What should be their expectations?

    With that being said. I will have zero expectations but I will attack the 10 social networks with measurable goals so that we can see which has the biggest and quickest impact on me participating.  The first thing on the experiment list is how intuitive are the sites? How easy was it to login and register? and What are they promising? Below is the list:

    Ecademy

    Entremate

    Friendly Favors

    Konnects

    Networking for professionals

    Real Contacts

    Ryze

    Spoke

    Teng

    Facebook

    Coming up in the next post will be what the intial impressions were, how was the account creations process and a more descriptive explanation of each sites service offereings. Am I missing any sites that should be on this list? Has anyone had any experiences that they want to share?

    Think you can make money on social media sites?

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    Can advertisers/marketers make money in a social networking environment? That is the real question.

    Forrester reports about 30 percent of social networking site users embrace a brand so that they could become eligible for  freebies,exclusive offers, events or sales or because another friend recommended it. Forrester gave this type of social consumer reaction as “friendonomics.” Granted it greatly helped the brand if they(the users) had some clue about what the brand was all about prior to befriending it, but it wasn’t a complete deal killer.

    With that being said in regards to having a clue about the brand, Forrester states, Gen Y users “show the greatest interest, with 37% saying they would be interested in seeing marketer profiles on social networking sites. Gen X isn’t far behind, with 31% showing interest.”

    What appears to work though and is gaining some traction, is the creation of widgets or apps on Facebook.  If you use Facebook, you no doubt have noticed the plethora of new apps that have appeared over the past few months. These apps, created by marketers for instance, give some legs and visibility to brands, new products and sites that are looking for traffic and eyeballs.

    Back in August of 2007, Google filed another  patent for “user-distributed advertisements” (UDA) whereby the UDA system “facilitates insertion of manually selected ads into a document that is to be distributed (e.g., transmitted, published, and/or posted) such that the document is to be made available to other users.”

    The document explains why it’s a good idea: “Although advertising systems such as AdWords and AdSense have proven to be very effective tools for advertisers to reach a receptive audience, even automated systems that use sophisticated targeting techniques often can’t match the effectiveness of manual targeting. However, manual targeting techniques don’t scale well. Therefore, it would be useful to provide a scaleable advertising system that achieves at least some of the benefits of manual targeting. It would also be useful to provide a system of charges and/or rewards to encourage useful manual targeting of ads. Further, it would also be useful to track and use performance metrics of such ads if doing so would help an advertising system serve ads that are more useful. Finally, it would be useful to provide data structures and interfaces for enabling advertisers to participate in a system for manual insertion of ads into a document for distribution.”

    Long story short is that Google wants to figure out a way for its users to be worker Bees that essentially spread or carry advertising. What better way then to incentivize every possible action that someone does while online. So I send you an email and I go ahead and drop a couple of Adsense bombs in the body of the email and off you go to make us both money. All of a sudden it does pay to advetise via email again and the more viral the better!

    The problem with trying to tie together advertising for instance, and social media is that to most and we’ll use direct response, is that DR advertisers, are going to look at specific measurable results which essentially will tell them if it’s a) worth it and b) should they test again. the problem with social networking sites and advertising, at least right now is that the results of advertisers are not yet quantifiable or measurable to a degree of their liking. There is too much grey area.

    It’s grey because Social media is about engaging the prospect, befriending the prospect and winning the prospects trust instead of vomiting the information(makes for a great visual doesn’t it?) and the pitch, all over them. And if you don’t think is true, go ahead and try it and let us know what type of experience you have.

    Essentially the whole social media experience as it pertains to direct response is more about marketing than it is about advertising. And to that end traditional  online or offline advertising will not work in this environment anyways. So don’t bother.
     

    The Public Perception of Social Networks

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    Unless you have been living under a rock….

    I’ve been using that statement a lot lately and it seems to be very appropriate these days given the state of all things technology related. between the iphone, MySpace, Facebook, Android, Open Social, and all things in between, it is a great time to be a digital consumer. Or is it?

    You know when AOL first came on the scene, Everyone had the same thought. What is this going to do to the way we communicate? What will AOL do to the social fabric of our lives. That is the exact thing happening in the social networking world. If you would like to stand and admit that you too had an AOL account at one time, it’s ok. We’ll pause.

    Ironically AOL was the beginning of true social networking, through AIM. And if you really want to know the truth, AOL’s phenomenal growth wasn’t based around internet access. It was the ability to chat with others. To communicate with others. THAT is social networking. Finding people with similar interests that you could connect with. The real difference now, are the tools that are available to the common user to create and enhance their social networking experience or communicating experience. Social networks have become social media sites as well.  There is now a distinction between the 2. There is a social media type site and  social networking type sites. The tools now available allow users to share more than just words. Its now photos, music and video. Those are social media sites. Like Youtube or Flikr. Nothing new there right?

    Because of this, social networking sites are the most frequented websites on the web. In fact according to Hitwise, the demo of 18-24 users hit Facebook more than they visit porn sites! So now instead of what is construed as a one way relationship with a porn site for instance, is passed up because now this demographic can go to Facebook and have a better overall user experience. Amazing when you think about it. Content isnt’t king, porn isn’t king. Social networking is king!

    But what is the overall public perception of social networks?  That seems to be changing as well. The perception for some is, “I’ve heard about them, but I just don’t know enough.”. While others have jumped in with both feet. and some have dipped toes in the water. This is perception can be blamed on the media, marketers, and word of mouth.

    Depending on the demographic, and this is no surprise as your 15-24 age group are always going to be the early adopters, the social networking experience is going to be different in regards to perception and usage, for each and every group. However this is changing as well as users realize that there is more out there besides Facebook and Myspace. Check this blog for older posts about the top rated social sites in business, video, and music. To read an interesting and no to surprising article about class distinction in social networks,  read this article by dannah boyd.

     the bottom line about social networks is that people are finding their people, their packs, their groups. Just like they did on the playground as children, it is now taking place with social networks. And you know what? There is nothing wrong with that. You see, the public perception of social networks right now is skewed, because THEY DON”T ENOUGH to make an educational, much less personal decision on whether to use them yet. So they base their opinion on their perception. It is changing though and rather quickly as statistics show that one of the fastest rising demographic of users on Facebook are the 35+ group. And of course as a side note, you know this is going to piss off the 18-24’s who will now have to latch onto something that is cooler.

    But public perception of social networks is still skewed across the following words and statements:  Uncertainty, a time drain, a resource drain, zero value proposition, spam extenders, virus friendly, a place for stalkers to thrive etc etc. In fact, The blog Switched reports that according to a new study by an employment law firm, approximately $264 million U.S. dollars are lost in man hours because of Facebook.

    The thing to understand here is that like any relationship, you get out of it what you put into it. Whether that is online or offline. The only way you are going to see whether a social network is for you is to take one for a test drive. It doesnt neccessarily have to be MySpace or Facebook, though those two are not bad starting points, but the only way to find out is to jump in.

    It may enhance your computing experience or it may be a detriment. It totally depends on what you want to to achieve. Is it for business? Then there are a lot of purely social networks geared toward business and building relationships that will fit your needs. Start with Linkedin.

    Just remember, in the end, you’ll get out of it, what you put into it. Just don’t base your opinion on what you have read or heard from someone else. What DO YOU think their perception is? What was your perception before you tried them out? What were your expectations? What are your expectations now?

    The growth of social networking

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    By 2011 about half of U.S. online adults and 84% of online teens will be using social networks. This according to eMarketer. What this points to is an evolution or a continuing evolution of children who currently are becoming aquainted with and more comfortable with, “How social networks work”. This also points to the greater value that adults will put in their social network. “Their” being the operative word.

    Furthermore, this raises a very poignant question. Though Facebook and Myspace are the darlings of the moment, can they continue the momentum that they can surely take credit for? Will they be “The” players in 3 years?

    As it is right now today the evolution for most users looks something like this:

    Club Penguin/Webkinz—->Myspace—->Facebook—-Linkedin.

    I use Linkedin as the last one for professional reasons but really after Facebook, the usage fractures into a 100 different niche based social networks. This usage in the next 3 years will continue to evolve into hundreds of other social network sites.

    My educated guess, though they (MySpace and FB) will still be viable, there will be others that will come along, if they have not already, that provide more to their niche than the current duo do. Here is the reasoning. Myspace is for teens/bands and tire-kickers and fringe users. Facebook is for college aged and older users who have more of a familiarity with the social network and all that it can provide.

    So in 3 years when your current crop of Facebook users for instance, graduate and possibly outgrow the Facebook newness/coolness factor what do they do then?  What do adults who are currently using Facebook do in 3 years? The same thing I suspect that AOL users did once they found out that AOL wasn’t the only game in town. Everything will evolve. Including the knowledge and expereince of the users. Thus the reason that by 2011, social networks will be so entertwined in our daily lives that it will be assumed that you are part of some SN.

    The good news, and really none of this is bad news, but worldwide Ad spending will increase at a healthy 20-39% each year between now and 2011 according to eMarketer. In the U.S. alone social network ad spending is expected to rise to $2.7 billion in 2011. Currently the pie is being divided naturally towards Facebook and MySpace, but look for that to change significantly with the growth of niche and marketer oriented sites.