Monthly Archives: November 2014

Incubator 2.0: Social Cooperation for SME and Start up Marketing

A new way of doing business is here. Most don’t even recognise it yet, but they take part in it daily. It is collaborative or cooperative marketing. Whereas there is still flexibility in the definition, it is based on the  simple common sense ideas as strength in numbers and the sum of the parts are greater than the whole. But it is also based in sound results data which makes it undeniable.cooperate definition

Jeremiah Owyang (@JOwyang) has recently released some powerful financial data on the “collaborative” economy reaching back to 2002.  His definition is about technology that allows for efficient sharing of services such as UBER and AirBNB. This definition has popularity as it is the basis for most current start up models.

Small Business Saturday takes social cooperation to the streets. Started by American Express to coordinate marketing efforts of SME’s to promote sales for the Saturday following Thanksgiving in the U.S., it has proven hugely successful. As reported in an article by CNN in 2012 SME’s reported that Black Friday and Cyber Monday had little effect on their sales, but the coordinated marketing effort for Small Business Saturday delivered US$5.5 billion in sales for the day. Note Black Friday, which favours large retail outlets, saw only US$1 billion in sales in 2012.

Ashton Kutcher (@aplusk) is developing the extended incubator. Having seen the success of other incubators such as Y-Combinator has envisioned extending beyond development to product launch. In the incubator model, resources and knowledge are brought together to provide a heightened environment for success. However, there does not exist an “incubator” for after the product is developed. How do you go from not known to a necessity?

In these three examples I touched on three key points of Incubator 2.0 or as I like to call it the Social Media Cooperative. And the there is the fourth which differentiates  from the common aggregator model which collects and lists businesses under a single brand (e.g. Uber, Expedia, Yelp). The key points are:

  • Having a platform and interface that allows SME’s to join, contribute and participate
  • SME’s power the world, they generate more revenue and employ more people than the multinationals could even dream about. SME’s ROCK!
  • There needs to be an effective model where SME”s can tap into an existing collective of resources and knowledge
  • Rather than aggregate the model needs to propagate

Unlocking the secrets of social media:

Fundamental to all social media and including search is Like, Comment and Share. The more you do, the better the results. This model suggests that instead of creating an app that aggregates businesses such as Groupon mobile app which may have 100,000 businesses represented, we advocate establishing digital footprints for each brand. This would mean 100,000 Facebook pages, Twitter accounts, Instagram streams, Blogs etc. and the good search that results from this optimised content. But more importantly you have 100,000 healthy communities built of Fans/ customers that have joined these brands because they chose to. Consider this, which do you think is more valuable to a business for ROI?

  • Having 10,000 Fans on your page that chose to be there and are actively engaged
  • Paying Facebook to push your ad to 10,000 random people

Next Step:

Now that we have these 100,000 businesses how do we get it to work? Technology and expertise play a large role. Social media is all about understanding algorithms and online consumer behaviour. By leveraging knowledge of these along with a proven process and a technology backend driven by a crowdsourcing model, science becomes magic. By effectively posting on these 100,000 businesses profiles using optimised content and then systematically cross promoting through Share, Like and Comment we have proven to increase Organic reach by 20 times! And in addition to an increase in organic reach, each brand that cross promotes using Likes, Comments and Shares gets exposed to a new and wider range of Fans/ customers. This works the same way as when we share a post from a friend and in doing so all our friends get to see this post and they also get to see who it originally came from.

Cooperation:

This can only work with cooperation. SME’s must recognise the value in sharing promotion. What we have found odd is that a brand will not hesitate having their advertisement on the same website, newspaper page or bus stop as other businesses, but they hesitate when asked to cross promote. This is where successful activities like Small Business Saturday are proving that by sharing and cooperating a business does not jeopardise their brand and market share, but in fact, increases it.

Better understanding:

The technology and process is too detailed to go into here. PRDA has been proving this concept for 6 years and it has remained successful despite changes to algorithms or popular apps. Fundamentals change more slowly and the concept of cooperation being good for outcome likely to not change anytime soon.

Immediate benefits:

  • Access to a large pool of engaged Fans/ customers through shared communities
  • Highly effective organic results and search through optimised content
  • Efficiency of process, technology and scale:
    • Reduced cost
    • Increased performance
    • Reduced risk
    • Increased services
  • Big Data

 

Much success,

Doug

PRDA Asia

http://www.PRDA.Asia is a leading social media management agency

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When Fishing for Fans remember the post is the bait, NOT the whole meal

This is Facebook Advertising 3! We have covered simple steps on how to maximize your budget for success and how to use the many options available to accurately target your messages. Now that you have mastered that, it is time to start creating the best advert posts possible.

You are going to need an image and a message and here is the easiest way to get them.  Go to Facebook Insights and select the posts that performed best for organic engagement. On Facebook Insights using the “posts” it becomes clear which posts performed best. Hint: they have the bigger lines! it is important to note that if you do use paid promotion the “Reach” line will show as a combination of light and dark orange. The dark orange is the paid result. It should be ignored for this exercise. By clicking on the header row you can sort by column giving different views of the information. Fun to play with but not necessary. You only need posts from the most recent period. As you can see the last post in this example performed much better than the others – pick that one. You don’t need to worry about it already have been posted as by promoting it will be offered to a new audience of people. However, you should take care about promoting posts for events that have passed.

Don’t use Boost Post! You already know that! Use the advert manager!

Facebook top performing posts nov 2014

Now that you have found the best performing postthe next question that comes to your mind is, “Why is the best performing post”? I can share some techniques to improve post performance, but others I can not. Much of what you view in social media is controlled by elaborate programs called Algorithms that select certain posts to appear more frequently than others. However, since these algorithms are written and maintained by the app owner, we do not know exactly how they work. But we can make some assumptions and watch performance. Here are some easy to manage variables to increase post performance.

Content type – posts seldom have one type of content. It is usually a mix of image or video, text and links that create a post

  • Text – Keep it short. Latest statistics show that messages about 70 characters work best. People DO NOT READ, they scan. High value keyword and critical details are all you use.
  • Link – all links that are left in the post should be shortened and, unless with a good reason, direct to your website or other sale point.
  • Images – For Facebook use 1 big, shape is horizontal or square. If you are still using portrait format like flyers or leaflets, STOP IT! Never post a flyer. If you want to post a flyer first create a Facebook Note and post it there and then post to your timeline.
  • Video – Video in place of image? Performance is different with more plays and shares than images. ALWAYS upload the video. Just adding the link diminishes appearance and greatly decreases the effectiveness of the video. Images get the most likes and comments.

Doug's Blog compare video

Summary:

The biggest requirement for creating effective posts is restraint. Force yourself to write short succinct messages, use only on image and make sure you have include the correct link and it looks nice — shorten it!

There are many more tips I can share with you, but these will get you going in the right direction. Remember your post is the bait on the hook, not the whole meal!


Much success,

Doug

http://www.PRDA.Asia

PRDA Asia

http://www.PRDA.Asia is a leading social media management agency