Posts Tagged ‘facebook’
I’m writing this post while visiting Antwerp, Belgium as part of the Social Business Sessions I’m hosting along with The Fusion Marketing Experience. While here, I had an opportunity to spend time with several Belgian journalists. One of the notable conversations was with Erik Verdonck of Pub, a local magazine focused on the advertising industry. The three themes we touched upon are not only timely, but representative of the challenges that face marketers and strategists around the globe.
Guest post by Ekaterina Walter, a social media strategist at Intel. She was recently elected to serve on the Board of Directors of Word of Mouth Marketing Association (WOMMA). Follow her on Twitter
Culture is one of the largest components of how we communicate: not just how we say something but how we choose the tools we use to get a message across. This is as true for social media as it was for the telegraph.
In September 2011 at its f8 Developer Conference, Facebook introduced the social world to frictionless sharing and Action Verbs. With the rollout of its Open Graph, the 900 million strong social network declared that the future of engagement would be driven by both implicit and explicit actions. Explicit actions require the user to click a button such as “Like,” “Share,” “Recommend,” or “Comment.” Implicit actions on the other hand only require that the user run an app designed using the Open Graph platform where updates (or Action Verbs) are sent to the timeline automagically depending on what the app is designed to do.
Shortly before Facebook’s turbulent IP “uh oh”, GM announced that it was pulling its $10 million advertising budget from Facebook. Controversy erupted. Accusations ensued. Camps divided into three factions, those who support GM, those who support Facebook and those not yet ready to take a stance either way, but are paying attention.
You Like me…you really Like me. Wait. Maybe you don’t really Like me after all. According to our Facebook engagement metrics, only 1% of you actually react when we post. So, to keep the numbers up, our team posts more often, asks questions, runs polls, curates content, introduces more and more contests, and asks for your help to submit your pics and videos as part of our “user-generated” content campaigns. We measure success by the Likes, comments, shares, the number of conversations, and reach. While the Likes are rising, we’re starting to recognize the pattern…I guess we never really defined why you should “Like” us beyond the initial click. We just took for granted that a Like equated to an opt-in.
The future of TV is much more than social, it’s a multi-screen experience that takes design. Often, producers, broadcast and movie marketers and brands alike underestimate the role social media plays as consumers watch, share, and interact. Whether its watching movies, TV shows or listening to music, consumers will have at least one-to-two other devices in grasp or within reach. Depending on the device, each screen is used differently and with purpose. As a result, each screen requires the thoughtful development of an engaging or entertaining experience.
Mark Zuckerberg by Brian Solis
Mark Zuckerberg and 900 million of his friends hit Wallstreet with America’s largest IPO and has once again made history. Facebook’s first trade was $42.05 giving the social network a valuation of ~$115 billion. In the process, Zuckerberg became the 29th-richest man in the world with another half dozen employees also becoming billionaires. It’s also estimated that U2′s Bono will make more from his investment in Facebook than in his entire 30-year music career.
The headline calls attention to everything that’s wrong with how businesses measure engagement in social media today. Businesses that invest any level of marketing resources in networks such as Facebook, Twitter, Google+ and the like (get it?) are being groomed to focus on soft metrics instead of the relevant activity that signals the strength and worth of a community. By weighing conversations, interactions, and views, businesses are fed raw numbers that demonstrate KPIs but they do not offer the insights necessary to glean ROI or deep understanding of what people do and do not want, need, or value. And that’s part of the problem as marketers and developers are focusing on stimulating movement, which by default becomes a game of competing for attention, moment by moment.
With a looming $10 billion IPO on the horizon and a community that’s estimated to hit 1 billion users this Fall, Facebook seems unstoppable. Yet on one important front, the store front that is, Facebook has exposed an imperfection. People are not proving ready to actually buy goods and services in Facebook – at least not at the scale retailers are used to seeing through traditional e-commerce. And suddenly, many question the role Facebook actually plays in the monetization strategy of any business.
Updating as this plays out with deeper analysis and links…
Just a few moments ago, Facebook officially filed an S-1 for an initial public offering seeking to raise $5 billion. Here are a few key findings…
- 845 million monthly active users, year over year growth of 39%
- 483 million daily active users as of December, year over year growth of 48%
- 425 million monthly mobile users
Brian Solis is principal at Altimeter Group, a research firm focused on disruptive technology. A digital analyst, sociologist, and futurist, Solis has studied and influenced the effects of emerging technology on business, marketing, and culture. Solis is also globally recognized as one of the most prominent thought leaders and published authors in new media. His new book, What's the Future of Business (WTF), explores the landscape of connected consumerism and how business and customer relationships unfold and flourish in four distinct moments of truth. His previous book, The End of Business as Usual, explores the emergence of Generation-C, a new generation of customers and employees and how businesses must adapt to reach them. Prior to End of Business, Solis released Engage, which is regarded as the industry reference guide for businesses to market, sell and service in the social web.