| Brett Greene |
How Goldman Sachs Investing in Facebook is Good For YouThu, Jan 6th - 12:00am The announcement that Goldman Sachs invested $500 million in Facebook, giving it a market valuation of $50 billion sent ripples across the media. With this deal including Goldman helping Facebook to raise an additional $1.5 billion, and noting that Facebook has raised $800 million over five rounds of funding. it is official that social networking is big business that is only getting bigger. What this means to any user is that their services are only going to get more addictive and beneficial. What this means to any business owner is that you now have a place where increasing numbers of individuals and groups of people potentially interested in your products and services are actively engaging. This isn't news to everyone, but this benchmark clearly states the markets confidence in the future profitability of Facebook, and therefore in social media marketing. This announcement had additional gravity that reflects the shift from old media to new media's prominence in that it came on the heels of the New York Times losing it's slot on the S&P 500 to Netflix.
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| Brett Greene |
Why Your Business Should Care That Email is 38% Bigger Than TwitterFri, Dec 31st - 8:25pm Add This, the social sharing widget, recently released the trends in social sharing they documented for 2010. It's not surprising that Google had more growth than Facebook, but did you expect Stumble Upon to have more growth than Facebook? The statistic worth noting is that Email is 38% bigger than Twitter. This doesn't make Twitter ineffective. In fact, Twitter click through rates kill Facebook and Email. If you want people to click on a link Twitter is the place to place those links.
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| Brett Greene |
How Personal Branding Helps and Hurts Professional BrandsThu, Dec 23rd - 2:21pm As a proponent of personal branding, I was schooled this week on how it isn't always a good thing. On the surface it makes sense that the more you're known as an expert in your field, the better off you are. My previous experiences had led me to believe thatthis was always the case. It turns out that like all things, there are positive and negative consequences to personal branding. During a #PR20Chat on Twitter this issue came up with the obvious example of Frank Eliason's departure from Comcast. During his time creating online customer service through Twitter for Comcast, Frank became a legend. He was a man doing the right thing at the right time and he unwittingly became a celebrity in social media marketing circles for his accomplishments. As Twitter and social media gained more and more press in publications likethe New York Times and Businessweek, Frank recieved more and more invitations to deliver keynote presentations on how corporations could best use socila media tools to deliver better customer service. |
| Brett Greene |
The Secret Sauce in Your Social Media Marketing StrategyTue, Dec 14th - 12:27pm Last week I laid out the Top Five Elements to Your Social Media Marketing Strategy. As important as it is to utilize all of those elements, their reach is limited without the secret sauce we'll look at today. This secret sauce is not only a crucial ingredient to your social media marketing efforts, it's so fundamental that you'll wonder how people forget about it. There are two main ingredients in the secret sauce. The first ingredient is defining your overall business goals. It's amazing that this is overlooked so often, but that doesn't change the fact that it is overlooked. Here are the most powerful questions you can ask before creating or launching a social media marketing strategy.
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| Brett Greene |
The Top Five Essentials For Your Social Media StrategyThu, Dec 9th - 12:02pm Many people and companies open social media accounts and think that simply broadcasting comments about what they're doing or what's great about their company means that they're participating in the social web. Fundamentally, this is participating, but it's far from effective engagement. If you care enough to invest time and money into having an active social media presence, then it's important to get your strategy right. Posting random comments and links on a regular basis is where most companies start as a way to connect to consumers and future customers. You've got to start somewhere, so this isn't bad, but don't let it be where your activity on the social web ends. Here are the Top Ten elements you need to bake into your social media strategy and execution:
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| Brett Greene |
How the Google / Facebook War Affects YouThu, Nov 25th - 4:08pm Do you remember life before fax machines, email and searching online? Do you remember making an appointment to see your doctor to get an opinion without being able to Google professional and everyday opinions on your computer first? It's like a movie you watched years ago with a plot that's vaguely familiar but has no relevance to your current life. That's how you'll think of the current web versus the social web that's expanding daily. The epicenter of the social web has become Facebook. You already know that over 500 million people use Facebook. Did you also know that people spend over 700 billion minutes on Facebook per month, or that Facebook just surpassed Google to be the #1 site on the internet? It's Google and Facebook's world today and we just surf it. As a Facebook or Google user you win no matter what because they're building better products, but this world has not been peaceful since Google and Facebook have unofficially declared war on each other over the past few months. Most people have not noticed that it's even happening, but it will affect all of our online habits in the future. It will also affect the advertising you consume and the availability of your private information. |
| Brett Greene |
How Social Media Influences Customer ServiceSat, Nov 13th - 1:52pm Hopefully, as more companies realize that we live in a social ecosystem where people have voices that are heard by other customers, their customer service practices will change. Companies who embrace the social web enjoy customer loyalty from people who will promote them and give feedback on how to make their products and services more valuable. This engagement can only boost the companies' bottom line if they pay attention and make strategic changes based on the feedback they are receiving. Operating a business with the customer in mind is more beneficial and cost effective on multiple levels. Maintaining hierarchical systems where both employees and customers are marginalized is both disempowering and costly. |
| Brett Greene |
Why You Should Care About Social CRMWed, Nov 3rd - 12:48pm Whether you have heard about social CRM or not, you need to understand it if you own a business that has customers. Even if you're not ready to use social CRM, the fact that business is becoming more social each day tells you that social CRM is probably in your future. Traditional CRM (Customer Relationship Management) focuses on culling data from customers to learn how to manage them better. It's a system managing how sales, marketing and customer service departments motivate customers to buy more product. A traditional CRM system organizes data that has been collected on customers in order to target them better and to target more people who are like them. Social CRM starts from the perspective (or some may the new reality) that customers are in the drivers seat. This makes social CRM start with strategy first. The company's social presence has to reflect the brand personality and be attractive to customers, but it's the customers who come first. |
| Brett Greene |
How Large Companies Can Get the Most out of Social Media ConversationsThu, Oct 21st - 4:13pm The larger a company is, the more it may feel it has to protect itself. This is a valid first reaction, but don't let it keep your company out of the conversations that could be building your brand. If Ford, Starbucks, Pepsi and even Old Spice can find ways to win by reaching out to consumers online, then you have everything to gain by jumping into the waters of social media marketing. The largest perceived threat of social media to companies is loss of control around content. The reality is that there is no control over content created outside the company that shines either a positive or negative light on the company. But monitoring, listening, and engaging in the conversations about your company, your industry and your community pays ongoing dividends that only help if negative conversations ever arise.
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