Mar

11

Are you using social media in your business?

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Here’s a chart that shows some interesting statistics on business use of social media:

How Are Companies Leveraging Social Media?

Mar

2

A Facebook payment platform?

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Is Facebook going to create it’s own currency? Maybe.

The interesting question lies in the intersection of the payment system with the popular games on Facebook. Need materials for Farmville? Put in your credit card number and get virtual credits. With the surprising success of the Facebook games, incorporating real money for virtual seems like a winner.

Link:

Is Facebook secretly planning an internet-wide payment platform?

Mar

2

Facebook users and broadcast media

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This is pretty interesting.

Facebook users send more traffic to news sites than Google. Further, the sites they visit are mostly broadcast media. Google sends most of it’s traffic to print media.

What does this mean? I think it is starting to describe the usage of Facebook. Facebook (at least in this instance) is being used as a recommendation engine for news. Why don’t people recommend print stories? They do, but most people can’t stand to read long stories when a video is present. Why read when you can watch?

The real value lies in which companies can incorporate this into a marketing strategy.

Link: Facebook Users Prefer Broadcast Media

Mar

2

Social media being used by small business

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Link:    How Small Business Is Using Social Media [STATS]

According to stats from the University of Maryland’s Business School, small businesses are using social media sites twice as much as last year. That’s quite an increase.

Even with this increase , or maybe because it, I see many of them  using social media incorrectly. The bulk of the usage I’ve witnessed falls into 2 categories – they create a business page that’s rarely updated, or they spam everyone on their list. It seems the old model of interruption advertising stills has a hold of their head.

Remember, social media is about community, connecting with your base, and creating value. Don’t spam your followers with your latest daily specials or deals.

Social media is a new tool for business. Make sure you interact and engage your fans. You’ll see huge returns.