Posts filed under ‘digital strategy’
Word of mouth matters.
from The Daily Stat | Harvard Business Review
Word of mouth is no longer just an intimate act: Consumers post product reviews online and disseminate opinions through social networks. McKinsey research indicates that in developed markets, word of mouth has its biggest impact when consumers decide which products to consider and when they’re actively evaluating products — at those moments, 18% and 19%, respectively, see it as the single most important factor influencing them. In developing markets, WOM is most significant at the moment of purchase (46%). In both kinds of markets, word of mouth is the only factor that ranks among the top three at every stage.
Source: A new way to measure word-of-mouth marketing | McKinsey
Baby Boomers rapidly embracing Facebook.
via Baby Boomers and Seniors Are Flocking to Facebook [STATS].
According to Deloitte data, 2009 was the year that social media bloomed for Baby Boomers, with nearly 47% of them actively maintaining a profile on the social web, which is up 15% from 2008. Further driving home that 2009 was the year of the social BB is the fact that from 2007 to 2008 there was barely a measurable change — just 1% — in that demographic’s adoption of social media.
Boomers also love Facebook far more than other social media sites, with 73% of the group claiming to maintain a Facebook profile, while only 13% have taken a liking to Twitter. We also find it somewhat shocking that only 13% identify themselves as active LinkedIn users. One would think that given their place in the professional world, Boomers would we more active on the professional site.
Social media marketing miracle!
Balderdash. If social media marketing works for you, great. Show me the money! Thus far, nobody has. That’s why I chuckled a bit this morning when the Industry Standard Weekly Edition newsletter arrived.
Lately it seems I can’t go anywhere without running into a gaggle of social media consultants bloviating about the wonders of social network marketing. Sure, you’ve seen ’em, too. Slick shake-and-bake “experts” promising to help you leverage the power of Twitter and Facebook to raise your profile and, inexplicably, boost your profits. But scratch the surface on most of these claims and they instantly crumble. Meanwhile, it seems the only people making any money in social media are the consultants themselves. (more…)
Monetize your web app.
Last week, I attended a Think Tank session sponsored by NWEN, the Northwest Entrepreneur Network. The panelists discussed the iPhone ecosystem and marketplace. The three panelists had very different business models and app focus.
This morning, one of my fellow Think Tank committee members sent a link to a blog post by Box UK that analyzes and compares business models for web apps in general. Since “marketing” in its broadest sense includes all aspects of developing and delivering products into the marketplace, I offer the link here.
By far, the most successful business model thus far is based on advertising, where third-parties place clearly defined advertisements within the website/application. Variations include banners, text, inline, pop-over, interstitial, etc. Advertisers are charged by cost per click, cost per action, or cost per thousand impressions.
The Conversation Prism
And here’s what Web 2.0 looks like if you’re not one of the world’s largest, most recognized names in corporate consultancy.
See what Brian Solis has to say about his conversation prism.
Ken Sethney [marketing coach] 