Friday, October 8, 2010

When Eyeballs and Dollars Don’t Match Up @eMarketer

Again, Quality over Quantity

Amplify’d from www.emarketer.com
When Eyeballs and Dollars Don’t Match Up
Paul Verna, Senior Analyst
No one can be faulted for thinking that the size of someone’s Facebook friends list is a proxy for that person’s level of influence. After all, people who are influential are often also popular, and in a Facebook and Twitter world popularity is measured in friends and followers.

No one can be faulted for thinking that the size of someone’s Facebook friends list is a proxy for that person’s level of influence. After all, people who are influential are often also popular, and in a Facebook and Twitter world popularity is measured in friends and followers.



But a new report from Vocus and FutureWorks principal Brian Solis throws a healthy dose of skepticism on the supposed correlation between popularity and influence. The report—provocatively titled “Influencer Grudge Match: Lady Gaga versus Bono”—surveyed 739 marketing and communications professionals who work with influencers to gauge their perceptions of what makes an influencer.



A surprising 90% of respondents answered “yes” when asked whether there’s a big difference between popularity and influence.




Marketers Worldwide Who Think There Is a Difference Between Popularity and Influence in the Social Media Space, Sep 2010 (% of respondents)



Nearly the same percentage, 84%, believed that there was a correlation between an influencer’s reach and his or her ability to drive action. This indicates that respondents made a clear distinction between popularity and reach, and regarded the latter as the key that determines a person’s influence.



The survey did not define any of these terms, so it was up to the respondents to interpret them. From the results, it’s apparent that respondents regarded popularity as the sheer number of contacts on a social network and reach as the ability to actually communicate meaningfully with some number of those contacts. As one respondent put it, “A person can have only a few contacts and greatly influence just those few.”



Asked which type of social network participant would have the most measurable effect on an outcome, 57% picked someone who has “a handful of fans/friends/followers that are tightly connected,” versus 8% who picked someone with “millions of fans/friends/followers with little or no connection.” Quality over quantity.




Type of Person Who Is Most Influential in the Social Media Space, Sep 2010 (% of marketers worldwide)



Despite this data, many marketers are on a seemingly relentless quest to beef up their own social network profiles and reach users with lots of friends and followers. In the Vocus-Solis study, 57% of respondents said they’d be willing to pay for an influencer to help them “drive actions or outcomes.”



Further, Twitter recently unveiled its Promoted Accounts platform, which allows marketers to essentially pay for access to users based on the sizes of those users’ networks. Quantity over quality.



And an eROI study of social metrics tracked by US marketers found that two-thirds tracked changes in the numbers of friends, followers and fans. More qualitative measures such as reach of messaging were much lower on the scale. Again, quantity over quality.




Social Media Metrics Tracked, Apr 2010 (% of US marketers)



For more on the correlation, or lack thereof, between the size of a person’s social network contact list and that person’s level of influence, stay tuned for the upcoming eMarketer report “Word-of-Mouth Marketing: Leveraging Trust Online and Offline.”


But a new report from Vocus and FutureWorks principal Brian Solis throws a healthy dose of skepticism on the supposed correlation between popularity and influence. The report—provocatively titled “Influencer Grudge Match: Lady Gaga versus Bono”—surveyed 739 marketing and communications professionals who work with influencers to gauge their perceptions of what makes an influencer.
A surprising 90% of respondents answered “yes” when asked whether there’s a big difference between popularity and influence.
Marketers Worldwide Who Think There Is a Difference Between Popularity and Influence in the Social Media Space, Sep 2010 (% of respondents)
Nearly the same percentage, 84%, believed that there was a correlation between an influencer’s reach and his or her ability to drive action. This indicates that respondents made a clear distinction between popularity and reach, and regarded the latter as the key that determines a person’s influence.

The survey did not define any of these terms, so it was up to the respondents to interpret them. From the results, it’s apparent that respondents regarded popularity as the sheer number of contacts on a social network and reach as the ability to actually communicate meaningfully with some number of those contacts. As one respondent put it, “A person can have only a few contacts and greatly influence just those few.”



Asked which type of social network participant would have the most measurable effect on an outcome, 57% picked someone who has “a handful of fans/friends/followers that are tightly connected,” versus 8% who picked someone with “millions of fans/friends/followers with little or no connection.” Quality over quantity.

Type of Person Who Is Most Influential in the Social Media Space, Sep 2010 (% of marketers worldwide)
Despite this data, many marketers are on a seemingly relentless quest to beef up their own social network profiles and reach users with lots of friends and followers. In the Vocus-Solis study, 57% of respondents said they’d be willing to pay for an influencer to help them “drive actions or outcomes.”
Further, Twitter recently unveiled its Promoted Accounts platform, which allows marketers to essentially pay for access to users based on the sizes of those users’ networks. Quantity over quality.
And an eROI study of social metrics tracked by US marketers found that two-thirds tracked changes in the numbers of friends, followers and fans. More qualitative measures such as reach of messaging were much lower on the scale. Again, quantity over quality.
Social Media Metrics Tracked, Apr 2010 (% of US marketers)
See more at www.emarketer.com
 

Thursday, October 7, 2010

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Numbers Don’t Lie: Why You Need to Use Social Media Marketing' @Growsmartbiz

The opportunities available using the Internet and Social Media to grow your Brand and become more visible to your target market, enabling you to reach more people interested in your products and services faster, more effectively without the huge marketing budget that traditional media requires.

Social Media + Lead Generation Opportunities = New Clients

Amplify’d from growsmartbusiness.com

Numbers Don’t Lie: Why You Need to Use Social Media Marketing

The good folks over at HubSpot put together a great presentation on social media stats and sound bites that should convince you, once and for all, that you can’t afford to ignore social media marketing anymore.

Global Internet Users

The number of global internet users worldwide is, in a word, huge, making your potential audience very big no matter what industry you operate in, who your target market is, or whether you sell a product, service, or combination of both.

North America: 252,908,000

Latin American/Caribbean: 179,031,479

Europe: 418,029,796

Africa: 67,371,700

Asia: 738,257,230

Australian/Oceania: 20,970,490

Social Media Users

The volume of information being shared online is staggering.  In 2009, 90 trillion emails were sent.  The biggest, most popular social media platforms are not only generating a tremendous amount of information as well, but they’re also being used by tons of people.  Again, this translates into a lot of potential customers.

There are 550 million Facebook users and counting.

Blogs on the Internet number 126 million.

Since 2006, over 10 billion tweets have been distributed on Twitter.

Every day, 2 billion videos are streamed on YouTube.  Every. Day.

Even though I have the tendency to sound off on the fact that so much is written about social media at the expense of marketing in general, I happily acknowledge that social media is the future of marketing and advertising.  Not only is it where the people are, it’s an easy way to share information about your company to a targeted audience and track the return on your marketing investment in the form of new clients.

Social Media + Lead Generation Opportunities = New Clients

Read more at growsmartbusiness.com
 

Sociofluid