Social Networks – Page 3 – Marketing Technology and Analytics

March 9, 2010March 9, 2010

Search conversion lift seen from social media

On Friday I gave a presentation in Chicago, at Loyola University, on social media and compliance. We covered many topics dear to the hearts of those who participate in social media and would prefer not to go to jail due to SEC or HIIPA violations. Left to other presenters was the topic of social media’s importance in today’s marketplace.

It’s just as well that I left the topic out. Since most of the attendees were bloggers themselves (yes, more than half of them — I counted hands!), covering the importance of social media would have been preaching to the converted. But recent research, by GroupM and comScore, helps remind us all that some of the strongest reasons to engage in social media aren’t readily apparent.

The study showed that people using search engines who also use social media are “more engaged consumers” and “more likely to be looking for places to buy and brands to consider.”

The research found that consumers using social media are “1.7 times more likely to search with the intention of making a list of brands or products to consider purchasing compared to the average internet user.”
Here are more findings from the study:

Consumers exposed to influenced social and paid search exhibit 223% heavier search behavior than consumers exposed to paid alone

Fifty percent of social media-exposed searchers search daily for product terms, compared to 33% of non-exposed searchers

And finally, this is the finding that I thought was most revealing: “In organic search, consumers searching on brand product terms who have been exposed to a brand’s social marketing campaign are 24 times more likely to click on organic links leading to the advertiser’s site than the average user seeing a brand’s paid search ad alone.”

How much do you spend on paid search ads? This finding suggests to me that whatever you invest in pay-per-click advertising, you can reduce that cost or improve its reach by combining it with a well-planned social media engagement.

Great post-presentation feedback

After the presentation I met a ton of the audience members through Twitter. This is a group who really understands how social media can extend the value of a presentation! One participant, David Kamerer, had a great suggestion for a way to improve my compliance presentation. He suggested I add some content on the CANN-SPAM email marketing law. Thanks, @DavidKamerer, and the other folks attending the talk. I had a blast!

February 28, 2010March 1, 2010

How to get non-Twitter users to tweet

You’d think it would be impossible to get those who haven’t signed up for Twitter to get hooked on the immediacy and community of “tweeting.” You’d be wrong.

Just now I wanted to watch the statistics while I had the USA – Canada Olympic Gold Hockey Game on the television. I logged into the official Winter Olympics site. I found paydirt — and a surprising real-time Facebook status feed. You can click the image for one that’s easier to read:

What struck me about the Facebook feed is I didn’t have to log in. Since I already had Facebook loaded in another browser window, it immediately gave me the opportunity to add my own two cents to the cheering / jeering session. I didn’t, but I did find the flow of other people’s comments to be a fun addition to my solo enjoyment of the game.

I’ve written before about how Facebook is a perfect set of social media training wheels for the newbie. This is more evidence.

January 21, 2010January 22, 2010

Thriving in a hashtag economy

SMBmke Panelists — Kudos to photographer Matt Mason for providing these photos. Click to see the gallery

A question about using social media arose this morning — one that I only had time to half-answer. I was on a panel at a Milwaukee Social Media Breakfast (#SMBmke). The question (to paraphrase): “I don’t sell a sexy product. I’m a business that sells to other businesses something that they need. But they don’t necessarily blog about it or tweet about it. Can social media support my goal of lead generation?” I said yes. Below is the second half of my answer.

I did mention The Long Tail. Click through that link to learn what that is. And if you do, think about that link. Jeff Jarvis coined the phrase link economy. Chris Anderson coined the phrase the long tail. I propose a new coinage: the hashtag economy.

The long tail is the book, and the concept, about how niche markets find what they need in a world this isn’t hindered by the economics of brick-and-mortar. There are no carrying costs associated with iTunes offering one more song that just happens to be obscure. Their inventory is limited only by digital storage costs and the bandwidth necessary to deliver the song when someone buys it.

The link economy uses this free, or nearly free, paradigm. It cost me nothing to create the link that pointed readers to an explanation of The Long Tail. The link led to Wikipedia. There again, the power of almost-free. This crowd-sourced encyclopedia saw the mostÂ minuscule ofÂ incremental costs to provide you with that definition.

The upshot is this. Since we are rewarded nearly every time we click on a link, we do it more often. That generates something that very often can be monetized: Significant volumes of traffic.

Smart businesses — such as the publishers of Wired Magazine and Anderson’s book — leverage this link economy to sell more books. And they leverage The Long Tail Phenomenon in the very sale of a book about the long tail; Anderson’s book might never have become a best-seller if it hadn’t been offered in a virtual bookstore like Amazon first. His readers might have simply been just too darned “niche” to persuade bricks-and-mortar book stores to stock it in their shelves.

Scott Baitinger, co-owner of Streetza Pizza, and I were talking about niche marketing earlier this week. I complimented him on his use of Twitter Hashtags to find a narrow group and to market to them. That narrow group is @FitMKE. Scott has been peddling his pizzas to this group by tweeting to them with the #FitMKE hashtag.

Analog broadcast channels (those based on radio / television wave frequencies) are valuable enough that they are regulated by the government. There are rules about what businesses must do to earn their right to be there (e.g., public service announcements and public-oriented programming). Things that are scarce have value, and these channels are no exception. A recent auction of analog broadcast channels garnered bids in the many millions of dollars.

Twitter handles are not limited by the spectrum of a radio or television broadcast frequency. If I auctioned off my Twitter handle, I would get zero bids. Why? Everyone who knows anything about Twitter knows you can create accounts limited only by the nearly infinite combinations of letters and numbers.

This makes Twitter a spectrum of a nearly infinite number of nearly-free channels. It draws lots of people because it is so cheap and teeming with variety. It uses both the long tail and the link economy.

Increasingly, Twitter is also spawning communities of likeminded people around hashtags. One example of #SMBmke. Another, ironically, is #MKE likemind (another breakfast group — here’s the info on my blog). Scott, and @StreetzPizza, found #fitMKE to be a channel to narrow-cast his offer of healthy pizzas (and also indulgent pizzas, since — hey — you have to be getting fit to enjoy life, don’t you?).

The Hashtag Economy is one way smart marketers are finding their niche audience within the cacauphony of other channels. They’re tuning in, conversing, and doing business there.

Here’s a challenge, especially for my friends (old and new) who attended this morning’s breakfast: What hashtag conversations have you been a part of? And how have they improved your life and work? More important: What business relationships have formed from them?

Related posts:

Measure clicks and ROI from Twitter posts

Watching Twitter sell things like pizza and beer

As long as you’re stuck in traffic, can we talk?

Also mentioned:

Social Media Experts Are Poets, Software Developers Are Novelists

Photo credit: Matt Mason, photographer

December 16, 2009December 16, 2009

Ambient awareness is to humans what coconut shells are to an octopus

Eleven monthsÂ to the day after David Pogue of the New York Times posted on being a newbie in the “Twitterverse,” I think his piece is still one of the best introductions to the platform. Here’s a sample:

Iâ€™ll admit that, for the longest time, I was exasperated by the Twitter hype. Like the world needs ANOTHER ego-massaging, social-networking time drain? Between e-mail and blogs and Web sites and Facebook and chat and text messages, who on earth has the bandwidth to keep interrupting the day to visit a Web site and type in, â€œIâ€™m now having lunchâ€? And to read the same stuff being broadcast by a hundred other people?

Then my eyes were opened. A few months ago, I was one of 12 judges for a MacArthur grant program in Chicago. As we looked over one particular application, someone asked, â€œHasnâ€™t this project been tried before?â€

Everyone looked blankly at each other.

Then the guy sitting next to me typed into the Twitter box. He posed the question to his followers. Within 30 seconds, two people replied, via Twitter, that it had been done before. And they provided links.

The fellow judge had just harnessed the wisdom of his followers in real time. No e-mail, chat, Web page, phone call or FedEx package could have achieved the same thing.

I was reminded of this again over lunch yesterday, when I was chatting with a couple of really smart tech types. My lunch companions were very Pogue-like in their misgivings about Twitter. One was even leery of Facebook. Both made points that sounded familiar to me.

I acknowledged that when Twitter first came out, I was the same way. This post from 30 months ago is an example of my ambivalence toward Twitter. I have since seen it work as a valuable way to connect and learn, for both me and many of my clients. Some business has come out of it as well.

I’m sold on Twitter. Besotted in fact. (See for yourself, at @TheLarch)

But its success could be fleeting. Twitter is white hot right now, but flash fires often burn out just as quickly.

Maybe I should revise my oath of undying love. Instead, how’s this? I’m sold on the emerging social dance called ambient awareness, a concept explained eloquently in this Clive Thompson article.

Pack up your coconuts and see the world

Ambient awareness is bigger than Twitter, and even bigger than Facebook (now at 350 million users worldwide). It’s like the coconut shells in the arms of an octopus. For those who didn’t see that story, here’s the gist: Biologists diving off the coasts of Indonesia have discovered a species of octopus that has evolved to use a novel tool. Scientific American describes the discovery:

The octopuses were found to occupy empty seashells, discarded coconut shell halves or manmade objects, and on several dives, the researchers saw them carrying coconut shell halves below their body and swimming away with them.

Sometimes, an octopus would carry two shell halves and then put them together to form a shelter, the scientists said…

“Using tools is something we think is very special about humans, but it also exists in other animal groups we’ve never considered before, a low life form, a relative of a snail. These octopuses, they’re not simple animals.”

I learned about that story through — what else? — Twitter. This platform, and the ambient awareness it harnesses, is literally a new tool for helping those who put it to use. It helps us work, play and generally be the social creatures that we are.