Daily Archives: August 3, 2012

Major Brands: Social Media Is Great – How Do We Make Money Off It?

Social media has captured the minds of the world’s population, especially those of corporate marketing and sales executives. While social media platforms and its users are having a great time, sales and marketing ideas are still limping and it seems nobody is able to come up with reasonable ideas to monetize on the new way how people interact with each other.

Recent reports about Facebook and some of their clients display the misery quite drastic. In the week of Facebook’s IPO, General Motors announced to quit buying ads on the site. At that time GM had a social media budget of $30million and intended to buy Facebook ads for $10million. This is plain and simple unbelievable. GM’s idea gives the impression that many big companies see social media platforms as nothing else than new age magazines.

Taking a look at the diverse GM’s Facebook pages and Twitter profiles opens up an unused treasure box. There are hundred thousands of likes and follows, but it seems that there is not much of real social media action going on.

The corporate Facebook page has 400,000 likes and 9700 talking about it. That’s roughly 2% of all likes. What? GM is posting on a regular basis and people like the posts and comment on it. Here is when the problem of social media hits GM: There is nobody to interact with the people commenting on the posts. GM seems to respond to comments that display negativity, which is a good thing. However, there are 100’s and 1000’s of opportunities daily “to sell”, and these opportunities are wasted, by ignoring the interaction when people enter the showroom, which the Facebook page actually is.

Think back 10 – 15 years. You stand in your showroom, somebody walks in and is looking at the cars, nobody cares about the prospect and the prospect walks out without any communication whatsoever. Can you imagine what the sales manager would say? This might sound ridiculous to some, but in essence, this is what the Facebook page is, your showroom.

Here is another example: Again, go back 10  – 15 years and imagine what a company would have done with 400,000 contacts that showed interest. And? What do you think? At that time the phone number was the hot commodity. Remember telemarketing? That’s what they did. They gave the numbers to a marketer and called all 400,000 people, and they made sales. I know, selling a car is different from selling a credit card or life insurance, but it will create a lot of leads and they will turn into sizable sales.

This is the concept that will make your social media presence on Facebook, Twitter or any other social media site successful. People like and commenting on your page is your phone number that you need to get in touch with them. Buying ads is not what will create a lot of leads and sales. Keep in mind, your likes and the comments are warm leads, people came to you, they must be treated as such.

I was riding the GM story in this example. GM is not the only one that is performing poorly in the new sales environment. You can take a look at almost any corporate Facebook page or Twitter profile and see the same negligence. Food stores, any other retailer and everyone else that has something to sell. Look at your social media sites and connect the dots to your old conventional sales methods. This is how you can make money and profits from social media. And connecting the dots is really all you need to do.

Read also: Why Every Major Brand Should Use Empire Avenue

Apple’s Phil Schiller: Each new model of iPhone sells as many units as all previous models combined – The Next Web

Apple’s Phil Schiller: Each new model of iPhone sells as many units as all previous models combined – The Next Web.

The second full day of the Apple v. Samsung trial is going on today, and there are lots of interesting tidbits coming out of the testimony of Apple SVP of Worldwide Product Marketing Phil Schiller.

One section of the testimony, as recorded by Bryan Bishop of The Verge, was extremely interesting with regards to how Apple defines success for the iPhone.

Schiller was being asked about the cumulative sales of the original iPhone, and he said that they were ‘extremely good’ and exceeded Apple’s expectations. Then, the court was shown cumulative unit sales for the iPhone and iPad and Schiller explained Apple’s simple metric for success of each model it released:

Each new generation sold approximately equal to all previous generations combined.

So Apple, in short, expects to sell as many next generation iPhones as every previous model sold altogether. That’s an incredibly high bar for success, but one that Apple has managed to meet for several releases running at this point.

Data from a Q4 2010 through Q3 2011 iPhone buyer surveys taken by Apple via phone and online were also submitted to evidence.

Schiller went on to explain that the iPhone benefits from platform lockin and that Apple product placement in Hollywood, by stars of TV shows and such, is important to its success. The design of the iPhone was pivotal in its success as well, with nearly half of iPhone buyers ranking looks highly in their decision to purchase. Schiller also said that Apple spent over $300M on iPhone and iPad advertising in 2010 in the U.S. alone. With over $647M spent in iPhone advertising since launch.

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Breakdown Of A Person’s Google Results – Infographic

Admit it: You’ve Googled yourself quite a few times. But were you happy with where your name appeared in your Google search results?

Each day, one billion names are Googled. Unfortunately for many, half of all people don’t find themselves in the first page of results when they Google their own name. Only 2% of individuals own the entire first page of their results.

BrandYourself, an online reputation management startup, created this infographic to help you learn how to make results that are actually you appear higher up in search results.

We won’t give away all the tips, but we’ll leave you with this: Out of 100,000 profiles analyzed with BrandYourself, LinkedIn was the social network most often appearing at the top of results.

Source: Mashable.com, brandyourself

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Sales: Lead Response Management – Infographic

Congratulations! Someone is interested in your product. Maybe they filled out a web form or mentioned your brand in a tweet. Regardless, if you’re in sales, it’s time to pounce.

But how quickly? What days and times are best to follow up on leads? How persistent should you be before it’s no longer worth your time?

James Oldroyd, PhD of Ohio State University, and David Elkington, CEO of InsideSales.com, conducted research on three years of data from companies that deal with web-generated leads. They found that timing is key. The likelihood of making a sale drops off dramatically more than five minutes after initial contact.

See their other insights in the graphic.

Source: Mashable.com, inside sales

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The Beautiful Game Is The Most Searched Sport In The U.S. – Infographic

The 2012 Olympics are being hailed as the “first social Games” — but looking at old-fashioned search terms is just as fascinating as following the online conversation.

Would you have guessed that soccer was actually the most-searched sport in the U.S. the week before the Games? Even though most nations are not sending their best soccer players to the Olympics, the beautiful game grabbed more than 12% of all Olympic sport-related queries.

Next up were swimming, track and field, basketball and gymnastics.

But interest varies by area. Women’s soccer drew the most searches on the West Coast, as well as the Northeast and South Atlantic regions. In the central South and Rocky Mountain areas of the country, as well as Alaska and Hawaii, the Games’ opening ceremony ruled supreme.

Midwesterners were the only population segment to search for swimming more than any other sport.

Also of interest: the Midwest and central South regions seem to be especially randy — they are the only two regions to have “hottest Olympic athletes” rank in their top five search topics.

This is according to a study by online advertising and data analytics firm Chitika Insights. The company analyzed more than a hundred million ad impressions to gather the data presented in the infographic below.

Among other interesting findings: more than a third of 2012 Olympics searches were made from mobile devices; more than four in five searches came from a PC; New York had the most disproportionate interest in the Games relative to population; and Arkansas, New Mexico and Missouri had the most disinterest.

Source: Mashable.com, chitika insights