Dr. Diane Hamilton's Blog

Facebook Advertising Appeal

When a company like Facebook goes IPO, there is a lot of discussion about future potential for income.  One area where Facebook may increase revenue is through advertising.  Facebook took a big hit this week when GM killed a $10 million advertising campaign deal. GM claimed that Facebook ads were ineffective.  DailyFinance.com reported, “Click-through rates are much lower on Facebook than they are on the internet generally, or on Google (Facebook: 0.051%, Google: 0.4%, Average: 0.1%)”

One way for an ad to be effective is for it to reach the target audience.  Understanding a company’s target demographic is important.

According to Statista, “This statistic shows the age distribution of Facebook users in the United States as of April 2012. During that period of time, the majority of local Facebook users were between 18 and 24 years old. Furthermore, the most popular Facebook activities of U.S. users were posting on walls and checking the internal newsfeed.”

According to Facebook’s advertising Q&A area, there are some limitations regarding how advertisers may reach a specific demographic.  Other than age and birthday-specific advertising, Facebook targets based on location, interest, education and connection advertising.  This differs from Google that allows targeting by interest, keywords, remarketing, location and demographics.

BusinessInsider explained the difference between advertising on Facebook vs. Google in terms of reach and revenue.  “Total reach for Facebook is 51% of all internet users.  Total reach for Google is 90% of all internet users.  First quarter revenue for Facebook is $1.06 billion, down 6.5 percent year on year and down 32 percent sequentially.  First quarter revenue for Google is $2.09 billion, up 1 percent year on year and up 0.7 percent sequentially.”

Facebook is hoping to use friendships to sell products and brands.  Check out the following video to find out more about this and the importance of geofencing.  According to Amos Content Group, “A geofence is a virtual perimeter around a real area as in within a block of a restaurant. Marketers can use this location-based service to target a passersby who has opted in to send deals or information to smartphones.”  Facebook’s friendship-based approach could influence geofencing.

[youtube http://www.youtube.com/watch?v=eftH4dJkjZk&w=560&h=315]

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Using Giant QR Codes on Cars to Promote Business

 

QR codes may offer sales people a new way to advertise.  Real estate agents are known to put company and contact information on cars as a form of advertisement.  Agents have even begun using QR codes on the “for sale” signs. Interested buyers can scan information about the home instantaneously into his or her cell phone.

Now that QR codes are on just about everything, why not make them into a magnetic attachment for an automobile?  Chevy has already used QR codes on automobiles to promote car sales. “The vehicles are currently undergoing Southern California road testing, so the displayed QR codes will allow consumers to get a closer look at this vehicle even before it is available for sale.”

 

How big can a QR code be?  Check out the 10,000 square foot QR code made that can be viewed from 2 miles up in the sky.

[youtube http://www.youtube.com/watch?v=zo6-J4_Ovd0&w=560&h=315]

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Facebook Recognizes Importance of E-Commerce

 

Companies are able to increase global reach through e-commerce (short for electric-commerce).  E-commerce occurs when products and/or services are sold over the Internet. Some examples of e-commerce include:  Online shopping, electronic payments, online auctions, internet banking, and online ticketing. E-commerce may be business-to-business, business-to-consumer, or consumer-to-consumer.

Facebook recently acquired Tagtile to grow e-commerce business. Tagtile is a company that is designed to keep customers engaged and motivated to continue to frequent a company’s website. This will help add to their strong advertising revenue. Zdnet stated, “Facebook needs to be able to bundle a solution to sell to brands who want to tap into Facebook’s store of data for closer customer connections. It needs to find an alternative revenue stream to keep its shareholders happy as it builds its e-commerce offerings post IPO.”

To find out more statistics about e-commerce, check out Statista’s site. Statista is a website that provides some important statistics available on the internet. Statista “provides business customers and academic institutions with an innovative and intuitive tool for the research of quantitative data, statistics, and facts.”

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What is a Meme?

 

There may be some confusion as to the meaning of the word meme (rhymes with dream).  John Gunders and Damon Brown, authors of the Complete Idiot’s Guide to Memes, define it as, “A cultural unit of measure.  It can be a thought, a phrase, a style, or any other cultural expression that can be imitated by individuals.  More important, a meme is a replicator; that is, a particle of culture that strives to get itself copied as many times as possible.”

Basically it is an idea that is replicated through imitation.  There is a lot of that going around on the Internet.  If an idea catches on there, it may be referred to as “going viral”.  There is much more than just Internet messages that are memes.  Gunders and Brown explain that things like philosophy, sex, religion and politics also exhibit meme qualities.

It is a unit of culture such as a tune, idea, habit, that makes its way from person to person. It must be short enough to catch on and easily understood.  There are a lot of versions of the following meme that are based on different job occupations.  The template of what others think that the job entails is the same.  People have had some fun putting in their own ideas of the different perspectives of a job.  Here is one for a sales professional:

 

Examples of Memes:

  • Technological:  Rick Rolling – Promising one web site but redirecting to Rick Astley’s music video.
  • Musical:  The opening five bars of Beethoven’s Symphony No. 5.
  • Marketing:  Slogans like “Where’s the Beef?”  The trick is to have something be catchy, memorable and desirable.

The Players and How it Works:

  • The Creator:  Creates the Meme
  • The Hook:  The Enticement to Remember the Idea; Example:  Belief That Others Will Enjoy Idea or That Others Need to Experience the Idea
  • The Bait:  The Desired Result; Example: Positive Benefit of Meme is Realized
  • The Vector:  The Medium that Transports the Idea.  Example:  E-mail, Facebook, Youtube
  • The Host:  The Carrier of the Idea Who Initiates Delivery

Popular Internet Memes:

Popular Concept Memes:

Popular Video Memes:

Popular Picture Memes:

The following list are some websites that explain more about memes:

[youtube http://www.youtube.com/watch?v=onVxp40MisI&w=560&h=315]

Brand Awareness: The Importance of Facebook

 

Youtube, Coca-Cola and Starbucks are just some of the most popular brands according to “fans” on Facebook.  Companies that have yet to embrace Facebook as an important marketing tool, are missing the boat.  Gourmet Marketing explained, “Businesses carve out an identity and following of customers through Social Media…none is more central than Facebook.”

Seattle Local Marketing’s article Tips on How to Find Fans for Facebook Fan Page stated, “Why is Facebook so useful? If you want to pull a lot of people to look and find out about your business then, the best way is Google since majority of these people use this search engines. However, Facebook comes almost as second in being one of the most accessed sites in the world.”

Social Media Today recently ran an article titled 15 Ways to Use Facebook for Business.  By creating a Facebook page, businesses can create a forum for discussion, facilitate word of mouth, research and test-market products, list press releases, and even hold contests.

Simply Zesty’s article Beer Company Generations $50.7 Million from 400,000 Facebook Fans demonstrates the impact on Facebook fan pages. New Belgium Brewing, “recently surveyed their Facebook fans and found that on average, their fans are spending $260 annually on the company’s products. This equates to $50.7 million in annual revenue, with 400,000 Facebook fans spread out across their products. Not a bad return on investment, given that the company had invested just $235,000 in 2011 in social media campaigns.”

 

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What is Socialnomics?

 

In Erik Qualman’s 2010 book Socialnomics, he described how socialnomics exists “where consumers and the societies they create online have a profound influence on our economy and the businesses that operate within it.”

Social media is the new word of mouth.  Now that individuals look online to find out information about products from their peers, marketing has taken a new turn. Companies must create a social networking presence in order to survive.

Click here to see some examples of socialnomics in action.

The following video gives some interesting statistics about the social media revolution.

[youtube http://www.youtube.com/watch?v=fpMZbT1tx2o&w=560&h=315]

 

Could Augmented Reality Technology Inspire the Next Steve Jobs?

 

One of the biggest obstacles the new entrepreneur faces is coming up with a unique idea.  The Steve Jobs and Mark Zuckerbergs of the world have raised the creativity bar.  By creating augmented reality phone apps, certain companies are getting attention.  Autonomy has developed a new technology called Arasmsa that may change how people interact with objects.  It works with a smart phone and can reveal some things that are not readily visible to the naked eye.  Check out the following video:

[youtube http://www.youtube.com/watch?v=GBKy-hSedg8&w=560&h=315]

With the popularity of QR codes and now new technologies like Arasmsa, there is potential for some amazing app possibilities.  For example, you can now point your phone at a magazine and have an app translate the material from one language to another.  There are a variety of augmented reality apps already available on the market.  Check out 40 Best Augmented Reality Phone Apps and 2 Augmented Reality Technologies that are about to Change the World.

The question is who will be the next Zuckerberg or Jobs to create an idea that goes above and beyond what is already out there?  Perhaps they are listed in the article 8 Important Silicon Valley Innovators Not Named Steve Jobs.  Only time will tell.

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Unusual Uses for QR Codes in the Classroom and Job Market

 

QR codes are those little barcode looking squares that are popping up everywhere.  They are an excellent marketing tool.  They have some unique applications as well.  The article 50 Great Ways to Use QR Codes in the College Classroom lists some unusual uses such as:

  • Using QR codes on name plates to find instructor office hours
  • Adding QR codes to the syllabus to link to classroom calendar
  • Adding to class announcements to create buzz for upcoming events
  • Linking QR codes to lectures, videos or answers to commonly asked questions
  • Linking QR codes to digital portfolios

These are just some of the unique classroom uses.  Click on the link above to read all 50 uses.

For more articles about using QR Codes check out:

Stand Out In Job Market with Mini Resume Cards

Combining a resume with a business card in a smart, easy to read fashion, is a great way to capture a future employer’s attention.  ResuMiniMe is a site that has done a nice job of creating such a card.  In just minutes, job-seekers can create a traditional-sized business card that promotes their strengths while serving as a nice ice-breaker for networking opportunities.  Prices start at $90 for 1000 cards.  Gift packages are available.  A free profile on LinkedIn is required. 

They offer two style choices for the back of the card.  A traditional standard style that lists education and experience is one option.  Also offered is the option to include a QR code on the back.  For more information about using QR codes to find a job, click here. 

The following are examples of the cards that can be created on this site.  The back of the card is shown vertically here for easy readability.

Front (although not listed here, a phone number may be included):

Back Traditional:

Back QR Code Version:

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Top Links for Help with Deciphering Web Analytics

 

Sites like Alexa, Compete, Google Analytics and Quantcast can give some important data about website visitors.  If these were the only choices available, it might not be so difficult to choose the best tools for web analytics.  However, there are a lot of sites out there.  They may also have some techy jargon. Some terms that may be confusing to some who are trying to decipher the data include:

To explain the importance of the type of visitor, check out the article: Total or Unique Visitors:   What is the Difference? While many people focus on unique visitors, in an article titled Unique Visitors are not Everything, Jakob Nielson was quoted as saying, “Chasing higher unique-visitor counts will undermine your long-term positioning because you’ll design gimmicks rather than build features that bring people back and turn them into devotees and customers.”

To try and keep it all straight and pick the correct site based on individual needs, check out the following top 10 links with information about web analytics, explanations of popular tools and what they measure:

  1. Web Analytics Demystified – Unique visitors ONLY come in one size.
  2. Alexa Analytics Explained – Take a tour of Alexa’s analytics.
  3. Compete Analytics Explained – Where they get their data and PDF of methodology.
  4. Google Analytics Explained – FAQ for all Google Analytics issues.
  5. Quantcast Analytics Explained – FAQ for all Quantcast Analytic issues.
  6. Top 24 Web Analytics Software Packages – Top software packages explained.
  7. 11 Best Web Analytic Tools – Includes Google, Yahoo, Crazy Egg, Compete, and more.
  8. Alltop Web Analytic News – News about all analytic issues.
  9. Web Analytics Review – Side by side comparison of top web analytic tools.
  10. Yahoo! Analytics Explained – FAQ for all Yahoo! Analytics issues.

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