My colleague Nate Elliott and I have been thinking about the Facebook IPO. Our thoughts:
The world’s biggest social network will complete its initial public offering in a few days, with a valuation based largely on its strong history of innovation. But we have to wonder: Will Facebook ever focus any of that innovation on helping marketers?
After all, Facebook is fantastic at introducing great new features and services for its end users. The moment another social tool gains the interest of enough users – whether it’s Twitter’s rapid public chatter or Foursquare’s location-based check-ins – Facebook updates its own site to offer similar features to its legions of users. We’ve rarely seen a company borrow from its competition as quickly or as well as Facebook. And that focus on better serving end users has seen Facebook grow quickly over the years, even in the face of consistent privacy concerns.
Engaging citizens in government isn’t a new concept. Referenda, ballot initiatives, and recall of elected leaders are common in the US and other democracies. Even the EU has recently sought to involve citizens through its European Citizens’ Initiative. This new program, however, has started in an era where new modes of constituent engagement are easier and cheaper. Obtaining the signatures required to place an initiative on a ballot or bring an issue to government leaders’ attention no longer requires endless hours in front of a shopping mall. New social media tools like Facebook, Twitter, or even more local sites like Everyblock in the US or Iniative.eu in Europe make it easier to reach out to citizens and for citizens to reach out to their governments.
And, the pattern extends across types of government and geographies. Political activists in Nigeria are using social media to drive election reforms. Political unrest and even revolution throughout the Middle East garner support via social media sites. Recently, citizens in China used social media to block destruction of trees in Nanjing.
New tools specifically tailored to citizen engagement — such as citizen reporting platforms, open data infrastructure, and competition platforms — even further transform governance. These tools provide citizens with not only a voice but also a role in the governance process.
We listened to marketers of the world’s biggest brands when they asked, “What’s the impact of Facebook on my brand?” and we decided to take a look for ourselves. We proudly present our latest research, “The Facebook Factor.” In the report, we answer the pressing question, “How much more likely are Facebook fans to purchase, consider, and recommend brands, compared with non-fans?” We used logistic regression modeling to find out. The impact? We call it the “Facebook factor,” and I urge you to read the report to find out how you can leverage our methodology to assess the Facebook factor for your brand.
In the report, we use four major brands as case studies to assess the Facebook factor for Coca-Cola, Walmart, Best Buy, and BlackBerry(Research In Motion [RIM]). Guess what? Facebook fans are much more likely to purchase, consider, and recommend the brands that they engage with on Facebook than non-fans. As the graphic below shows, Facebook fans of Best Buy are about twice as likely to purchase from and recommend Best Buy as non-fans.
I (Lori Wizdo) have just put the finishing touches on the content for tomorrow's (Wednesday, March 28 at 10am PT/1pm ET) interactive webinar, Socialize Your Lead To Revenue Process. B2B marketers (even tech marketers) are not sure their buyers are really engaged in social media for business purpose. We'll see Forrester research that proves they are. We'll discuss how social marketing can address the issues I am hearing, over and over again, in client inquiries:
"How can we increase inbound?".... "How can we increase conversions?" ... "How can we shorten nurturing cycles?" And, most importantly, "Is social worth it?"
Despite the doubts and uncertainties, tech marketers plan to increase spending on social media for L2RM in 2012: 43% plan to increase social media spend for lead origination; 41% for lead nurturing. Tomorrow's webinar hopes to give some very pragmatic advice to help you jumpstart or scale-up your social marketing program.
In 2009, we started the Latin American Technographics® product to understand how emerging Latin American markets like Brazil and Mexico are adopting and using technology. During this time, we have seen some very cool findings with respect to social media and social tools. We found that:
Are you thinking about SoLoMo yet? My clients definitely are, and I haven’t been surprised by the number of questions I’m getting about it considering that 86% of US online adults engage in social media and 2/3 of online Generation Y fall into the SuperConnected category of Mobile Technographics®. But what does SoLoMo really mean?
It’s a concept that brings together social, local, and mobile media — and it’s intriguing to marketers because incorporating social engagement, local targeting, and the mobile customer into a single program seems like it should lead to especially creative and effective engagement. But I’ve been researching this topic over the past couple of months and I have a couple of concerns:
First, the way we talk about SoLoMo puts too much focus on the technology and easily lets marketers slip back into technology-first strategies driven by trends rather than audience insights.
Second, SoLoMo programs often take the form of a check-in offer today. This can certainly be an effective marketing tactic for retailers and brands with brick-and-mortar presences. But isn't there something SoLoMo can offer other brands?
The word is that promise of sCommerce (social commerce) and fCommerce (Facebook commerce) is more speculative than proven. What about the role of social media in government and governance? Mayors, other city leaders, and local organizations increasingly communicate and interact with their constituents via social media.
I don’t know about you, but my head is spinning from all of the articles and editorials about Google’s incorporation of Google+ content and other personalized search results. While there’s lots of conversation about whether the changes are good or bad for Google and the future of search, whether Google is opening themselves up to more anti-trust investigation, and whether Google was simply too late to the social media game to make a difference, I’m going to leave those arguments to others. I’m more interested in the potential opportunities and challenges for marketers that this integration of search and social presents.
It may give marketers an additional metric to track for social media. Google will be surfacing your brand’s Google+ social content directly into personalized results, for consumers who’ve added you to their circles. These search results may also include content that a consumer’s friends posted about you. That means qualified clicks on your social content—and that means possibly tracking how much search traffic you generate to your own sites through social marketing.
The shift towards the empowered consumer and employee is no more obvious than in Asia - particularly in Singapore, where a recent Google study showed that smartphone penetration is a whopping 62% (compared to 31% in the US). In fact, of the 11 countries in Asia surveyed, four of them (Singapore, Australia - 37%, Hong Kong - 35%, Urban China - 35%) had higher smartphone penetration rates than the US (and amongst 18-29 year olds, 84% of Singaporeans had smartphones, compared to 47% in the US!). With many of the more populous countries having young populations (average age: Philippines - 22.9, China - 35.5, India - 26.2, Indonesia - 28.2 - see World Factbook), the gen Y factor is driving employees to question whether the current way of working makes the most sense.
With so many young, mobile and connected employees, it is no surprise that CIOs across the region regularly complain about the company staff self-deploying devices, applications and services from the web or from app stores. The attitude of many IT shops is to shut it down - interestingly, the whole concept of "empowered employees" is quite "taboo" in some countries across the Asia Pacific region. A CIO recently told me that "smartphones and social media have come five years too soon" - referring to the fact he is planning to retire in five years, and that these technology-centric services are proving to be quite a headache for his IT department!