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Facebook Faces “Increasing Risk” From Twitter (MarketWatch)
BTIG’s Richard Greenfield posted a note yesterday about an interview of Facebook’s VP of Business and Marketing Relationships David Fischer at a Stanford media conference. The interview with Fischer was conducted by Adam Lashinsky of Fortune. It wasn’t webcast, but the audience of more than 500 shared a lot of comments on Twitter. Greenfield notes, “Hard to dismiss the irony that everyone uses Twitter to talk about a Facebook interview, illustrating the increasing risk Twitter and the future of the ‘next new thing(s)’ on the Internet pose to Facebook and its valuation.” Greenfield cut Facebook to a sell rating citing slowing mobile ad growth, disappointment over desktop revenue and concerns over user engagement with the social network. Read >>
Businesses Can No Longer Adopt A Trial-And-Error Approach To Social Media (J.D. Power and Associates)
J.D. Power and Associates 2013 Social Media Benchmark Study finds a link between social media and business metrics such as consumers’ likelihood to purchase or interact with companies through leading social channels:
- 67 per cent of consumers have used a company’s social media site for servicing, compared with 33 per cent for social marketing.
- Younger consumers (18-29 years old) are more likely to use brands’ social media sites for servicing interactions (43 per cent) than for marketing (23 per cent).
- The automotive industry balances marketing and servicing engagements better than any other industry included in the study.
- Consumer expectations for social interactions vary across industries, although quality content and responsive service representatives are keys to higher satisfaction levels.
Companies need to understand how their consumers use social media and then develop a strategy that addresses their usage patterns. Read >>
Is Nextdoor The Next Facebook? (TreeHugger)
The sharing economy is here to stay. Nextdoor, social-network for neighbours, just secured $21.6 million in a round of funding. Services like Neighborgoods, Yerdle and others have already begun to focus on specific types of neighborly interactions, such as sharing tools and products between neighbours. With major funding and a large team, it will be interesting to see how successful Nextdoor’s generalist approach proves to be and how the other services in this space fare. Read >>
Is Twitter Changing How Content Surfaces? (Econsultancy)
Twitter has been on an announcement binge as of late, and it’s all very relevant to marketers. Changes to search history and mobile search experience are important. According to Twitter, upgrades have gone into effect on mobile that put “Tweets, user accounts, images, news, related searches, and more— into a single stream of results.” Beyond just a new UI, the Twitter engineering team went through great length to explain that “burstiness” will weigh into each content type to predict the most likely content that should surface for a query.
So basically, this is more of the same old message for content marketers: get influential. Read >>
How ‘Social Intelligence’ Can Guide Decisions (McKinsey & Company via Techonomy)
By offering decision makers rich real-time data, social media is giving some companies fresh strategic insight. Social media has little effect on some aspects of the intelligence cycle. In particular, the need to identify priorities for exploration and decision making over the next 6 to 12 months, as well as the use of assembled information to make unbiased decisions.
Photo: McKinsey & Company
As the range of analytical techniques has exploded, to stay ahead of the game companies must tap new areas of expertise.
Photo: McKinsey & Company
The information that companies need to meet competitive challenges is moving quickly from published and proprietary sources to the open, chaotic world of social platforms. Navigating this new environment effectively will require new skills and a willingness to engage in social conversations rather than merely assemble information. Read >>
Social Media Marketing Platforms That Need Your Attention (Dave Kerpen via LinkedIn)
Here are five social media marketing platforms that should be on your radar this year, depending on your organisation’s size and goals:
- North Social: For quickly creating coupons, contests, and sweepstakes.
- Sprout Social: Social media management and listening platform most loved for its slick dashboard and messages view.
- Moontoast: Offers a Social Activation Engine for social app templates.
- Wildfire: Provides social media marketing tools for pages, messages, ads, promotions, monitoring and analytics.
- Socialflow: Brings a big data solution to social media marketing.
No matter what platform you choose, in 2013, the real focus in social media marketing should be on metrics, listening, and mobile. Make sure you’re using the right tools for the job. Read >>
The Power Of Online Communities For Local Businesses (Eventility)
This infographic does a great job in emphasising this and the role that SoLoMo (Social Local Mobile) now plays in helping local businesses connect with existing customers and reach out to new ones. Read >>