Archive for the 'Social Media' Category

Mar 25 2011

Facebook introducing new service similar to Groupon

Published by under Social Media

Facebook, is testing a new business platform that will help it to venture into business deals with local small businesses in selected cities. Earlier in the month, the social networking giant wrote on its wall, “We’re testing a new Deals feature that brings you offers from nearby businesses, which you can share with your friends”. This feature is currently being test run in Atlanta, Austin, Dallas, San Diego and San Francisco.

Former to this systematic targeting to increase businesses on its platform, Facebook allowed small businesses to have a dedicated “business page” where they could advertise their offers and schemes. However, users who wanted to know more about these offers had to visit those specific pages. This new application by Facebook will remove the need to visit specific pages and make receiving offers and deals more convenient. Similar in functioning to “Groupon”, this application however, will bring offers right on the walls of the users. Once a local business makes a deal with Facebook, it will be able to publish the details of their offers on the homepage of users.

The development of this feature is a boon for small businesses especially those planning new online business ideas. For local businesses, the opportunity to publish offers on a platform as popular as Facebook is sure to   boost sales. Businesses can innovate promotional ideas which will promote their businesses without too much added cost. Analysts believe this marketing strategy could prove to be as successful as the use of promotional products in generating business for small, local businesses.

When Facebook pioneered itself as a social networking site, it brought a lot of long lost friends together. Its wonderful business page, brought success to several businesses as they could understand and interact with their clientele and market their new business ideas to them, directly. With the advent of this new business application, this giant is all set to bring a new revolution in business strategy and change the course of online marketing.

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Mar 03 2011

How Facebook become so powerful – A Facebook Tale

Published by under Social Media

When you hear about facebook, you think of it as an entity paramount in revolutionizing the world of social networking or as a site that set another milestone in the world of internet and search engines. An unchallenged giant of social networking as of now, facebook has all the eyes glued on every move it makes.  The movie “The Social Network” based on the founder of facebook, Mark Zuckerberg, won three Golden Globe awards, and led to a significant rise in the interest for the same. The glory of this site is such that it has become unavoidable for anyone to not take interest in it.Facebook started its journey in the year 2004 as an internal social networking website for the Harvard University. With easy success as an intranet service, the potential of the website was expanded as it stepped out and made appearance in the world beyond the university doors. The success story was repeated again and facebook became very popular the world over. The lawsuits and a long battle fought between two Harvadians over the ownership of the site then started. However, the popularity of the site remained undiminished and its impact is now looming large as it sets forth to achieve new milestones.

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What has made this website such a success in the world? With some analysis, there are a few hidden secrets that are revealed. You can learn and implement them in your business development strategy as well:

Market Analysis: Market analysis is elementary for any new business venture. It is common knowledge and followed by almost all. However, if the data assimilated is used more creatively and looked at with a new viewpoint, it reveals some unseen pattern that is very useful. The popularity of facebook lies in the fact that during inception they directly addressed the most important demand that the students of the university were facing that is the lack of a social networking site.

Stick to your principles:  One of the secrets behind the success of facebook is its strict adherence to its core principle. One of the employees of facebook says in their blog, “ …Facebook is a work in progress. We constantly try to improve things and we understand that our work isn’t perfect. We appreciate the thousands of you who have written in to give us feedback…”  To realize that there is more to achieve is an essential business tip. Knowing that there is more to be done, keeps audiences intrigued about your new business plans and keeps your employees motivated too.

With these business planning and marketing tips inspired from facebook, it is easy to gauge at the market and make an impeccable business success plan.

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Feb 24 2011

The Twitter buy-off and the Lessons Learnt from It

Published by under Social Media

Rumor has it the second time over, that Google and Facebook are in “low level” talks with Twitter for business acquisition.  Several businesses and analysts have been thinking of the pros and cons of this move and the impact it will have on the two business giants. Another important point of consideration is the reason a growing business like Twitter might want to sell itself.

The answers to these questions are fairly simple really. Caught between two industry giants looking to monopolize the market in their respective domains, twitter cannot establish a spectrum of its own. Besides, reluctant to turn its venture commercial, Twitter incurs growing losses each year. However, as a part of either Facebook or Google, twitter has much to gain in financial terms and otherwise. On the part of these companies, this micro-blogging site, represents a treasure-trove of information that is sure to give these two giants a value added service and in turn more customers.

This analysis leads us to the most pertinent question, namely what lessons can we learn to make a strategic business plan for our business development from this occurrence.

One of the main learning lessons is that Acquisitions are not all that evil. Off-course they are evil for the employees working there. They are even evil for those at the selling point in certain ways, for they tuck in their feet to sell out on the basic morals and principles that governed their functioning in the first place. However, an acquisition also defines smart business sense, which can save a more drastic result by “holding on” rather than selling when there is “still time”. When the choice lies between losing jobs completely or having to deal with a new management, what would you rather take?

Also as opposed to the popular perception of things, acquisitions does not necessarily mean, a failed business. The case in the point is obviously Twitter, which has new user sign-ups each day. Their add placement on the site lately also suggests that they are not really drowning down. This then is a classic case of “thinking ahead of time”. A smart business idea then would be to think ahead, be aware of the ongoing in the businesses you deal in and the approximate outcome result.

A new business idea to get from the Google-Facebook-Twitter dealing is to understand that there are newer avenues which always open up for any business no matter its huge success or even faliure. It is upto us to not be drastically bogged down or be scared by the business developments, but to implement new business strategy to move ahead and conquer situations.

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Jan 21 2011

3 reasons why ‘The Social Network’ won Golden Globe Awards

Published by under News,Social Media

The Social Network is certainly the flavor of the season, having won four awards at the 68th Golden Globe Awards. The awards for Best Drama, Best Director (David Fincher), Best Screenplay (Aaron Sorkin) and Best Score (Trent Reznor and Atticus Ross) were all bagged by The Social Network.I won’t say I’m surprised. The movie doesn’t have one dull moment. Were it up to me, I’d add another award to the list; Best Inspirational Movie. Okay, I know such a category doesn’t exist at the Golden Globes. The point I’m trying to make is that there are many important lessons you can learn from the movie.Below are the top 3 lessons I learnt from ‘The Social Network’:Act now: How many times have you had a great idea but done nothing about it because ‘there’s always tomorrow’? Procrastination is one of the biggest obstacles to success. As the movie depicts, Zuckerberg wasted no time in executing his idea. Zuckerberg’s quick actions caught the Winklevii twins completely off guard but the movie shows you that if you don’t act on a great idea quickly, someone else will beat you to it.

Meet a major need: The reason Facebook is so popular is because it allows people to connect, know more about each other and essentially, get a peek into someone else’s life. It is said that ‘No man is an island’. All humans thrive on social contact. Facebook gives an opportunity to shy people who battle with face-to-face interactions to meet new people, in addition to connecting with old friends. What entrepreneurs can learn is to ensure that the product or service you offer meets the needs of your target audience. Meet unmet needs and solves problems through your offering and you are bound to succeed. This is the branding idea behind most successful companies. If your offering adds value to your users, your product or service will get sold through the most powerful manner; word of mouth.

Focus on growth: One of the main aspects that stand out when you watch the movie is Zuckerberg and Sean Parker’s foresight. While Mark’s business partner, Eduardo Saverin wanted to cash in on Facebook’s popularity by getting ad revenue back when Facebook was created, Zuckerberg and Parker didn’t want to sell out too quickly. Zuckerberg focused on content and increasing the number of users initially. He waited so he could target big fish instead of selling out to small fish too soon. This is an example of a great branding strategy. He worked to establish a trusted community of Facebook users and focused on earning revenue later.

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Jan 18 2011

You can now promote and advertise business on Twitter!

Published by under News,Social Media

Twitter has launched a new site known as “Twitter for Business”. The site looks like an expanded version of Twitter 101; an online business guide which was launched back in July of 2009. The site, which is available at /business.twitter.com, opens up its previously limited advertising products and lets anyone put in a request to buy ads on the service. At the same time, it also represents a significant step for the company in terms of offering a formal and organized set of products for the business community.

Essentially, Twitter is saying, “We’re open for business.”

Out of the many new additions, the most noteworthy is a Start Advertising form that lets anyone contact Twitter with an interest in advertising on the site.

Twitter’s ad products — Promoted Accounts, Promoted Tweets, and Promoted Trends — have previously been limited to a small group of test advertisers. And Twitter has been especially cautious in rolling out those products widely across its platform. This move signals that Twitter is ready to take another step in opening up its ad products to a wider group of advertisers. Noteworthy form fields include one that asks for an estimated budget, and one that asks how soon you want to start advertising; choices include 1-4 weeks, 1-3 months, and 3+ months.

Also of note is the inclusion of Twitter’s first official reveal of its analytics dashboard, which the company says provides “in-depth insight into both paid and unpaid activity on Twitter.”

Overall, the new Twitter for Business is an impressive marketing addition. While the company has generally been somewhat guarded about its business-related services, this signifies a more serious approach to its advertising capabilities. It’s also a message to detractors who’ve always criticized Twitter for not having a business plan.

Follow @PromoDirect on Twitter to get updates on business, branding, advertising, promotional products, offers & services.

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