Inspired by Social Media Networking
Both consumers and the media are obsessed with social media. Popular social networking sites, such as Twitter, Facebook, and YouTube, are experiencing unprecedented growth and inspiring marketers in new and exciting ways. Smart companies—large and small—realize that the opportunities presented by social media are too good to pass up.
The Web continues to evolve from a one-way communications medium to a two-way conversational medium, giving consumers greater control and increasing marketing complexity. Not only can individual and business buyers easily research all available choices from suppliers and vendors, but they can also dialogue with experts and other consumers. They can easily ignore irrelevant marketing communications and turn their attention elsewhere instantaneously. And they ultimately make the purchase decisions that give them the best solutions to their problems—and the best user experiences.
Consequently, to influence purchase behavior of individuals and businesses, we marketers must keep abreast of how our customers and prospects use new and rapidly changing forms of digital communications. To be effective, it is critical to have up-to-date information about where our customers are on the Web, what will get their attention, and, in the end, what drives their buying decisions. In order to develop our marketing plans and implement go-to-market tactics, we must stay current on rapidly changing benchmarks, metrics, and trends in the customers’ use of interactive media.
Roy Young
President
MarketingProfs
Google TV Unveiled.
The inevitable has begun. It is exciting to think how this might give the little guy a chance to compete with the big corporations in a medium like television.
From Tech Crunch:
Google noted that while computer usage is huge with 1 billion users, and mobile is even bigger with 2 billion users, TV is the real massive medium with 4 billion users around the world. Further, Google notes that people spend 5 hours a day on average in the U.S. watching TV — and that’s more than ever before. Then the real stat came out. 70 billion dollars. that’s the annual ad spend on television in U.S. alone.
Video should be consumed on the biggest, best, and brightest screen in your house, Google says. And while they’re not the first to attempt this, Google thinks they can get it right. There are four things they’re focusing on:
* With Google TV, you’ll spend less time finding, more time watching
* We’ll also show you more ways to personalize content
* We’ll make existing TV much more interesting
* This is much more than a TVRead more: http://techcrunch.com/2010/05/20/google-tv/#ixzz0oUWeVgOC
How to Determine Your Facebook Fan Pages Value
Social media management company Vitrue has released a free tool today, the Social Page Evaluator, designed to help marketers get a better understanding of a Facebook Page’s value.
Just submit a Facebook Page URL and the app will come up with a valuation based on factors like number of fans, number of posts per day, number of interactions and so forth.
It’s a cool — if not completely scientific — way to gauge the potential value of your Facebook Page to advertisers. The formula used by the Social Page Evaluator is related to the formula that Vitrue released last month to estimate the relative value of Facebook Fans to big brands.
The tool, which was built over 63 hours in a Startup Weekend-style project, is adjustable and interactive. For instance, the base rate of Earned Media Value (or CPM in more traditional terms) is $5, but this can be adjusted to a higher or lower value depending on the brand in question.
Likewise, there is a “Fan-tasize” section that lets you manipulate other features like number of posts per day, engagement level and Fan count to see how that affects the valuation.
You can also compare a Facebook Page with up to three other brands at a time and view a Page’s value history. In addition to the valuation data, there is also a list of best practices for getting the most out of your Facebook Page.
So how accurate is this tool? It’s difficult to determine, as it is based on a formula that, while derived from a study of large brands, is obviously not going to be applicable to all companies. Still, it’s a fun, easy way to get an idea of the factors that impact a Facebook Page valuation. It’s also a good stepping stone for marketers to start thinking about the potential advertising power of a Facebook Page.
What do you think of the tool? Let us know on Chase The Web's Facebook Fan Page!
[ credit: Mashable.com]
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