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Forget social media, SEO and PPC is where the money's at

 
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  #1  
Old
Affiliate Manager
Join Date: January 18th, 2005
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Forget social media, SEO and PPC is where the money's at

Great blog post for whoever interested in Social Media Marketing.


Social media has grown like a weed on the consumer usage front but when it comes to revenue, social media hasn't yet found enough friends in the form of advertisers to cement its place as a digital marketing staple.

According to Forrester Research, however, that will all change by 2014. As our own Meghan Keane detailed, spending on social media marketing will grow to over $3bn by then, up from an estimated $716m this year, Forrester predicts.

continue reading: http://econsultancy.com/blog/4182-fo...the-money-s-at
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  #2  
Old
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Join Date: January 18th, 2005
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It's amazing how "buzzwords" and jargon continue to drive attitudes and behavior of companies and investors. For the past year, "social media" and "social networking" have been the hot buzzwords, and everybody wants to hire marketing people with a proven track record in "social media."

The problem, as the article notes, is that so far nobody has figured out a way to use "social media" for profitable advertising. (Yes, of course, folks who make "apps" and templates for FaceBook or MySpace can make some money.)

There are some very specific campaigns that drive attention via FaceBook and Twitter, but of course we don't know the cost and benefit (ROI) from those campaigns.

I've been searching for either a job or consulting work for the past month, and I'd estimate that nearly half of all the ads seeking "internet marketing" help mention "social media" as a significant part of the task (and perhaps 90% of the "well-written, serious" ads mention social media, though rarely as a primary focus).

In a few cases, there are some very legitimate opportunities for "social media marketing," but the majority of employers are just playing buzzword bingo, or wasting energy on pipe dreams.

I have no desire to allocate time to "social networking" sites that don't show any promise of positive ROI -- nor will I lie and feign interest, or lie about my expectations from these efforts.

I won't exclude "social media," of course (if a client can allocate the proper resources, social media should be a component of its marketing efforts).

But I'm not doing good service for a client/employer if I "do what they say, not what they mean." What they mean (or ought to mean) is that they want to earn profits from the sale of goods or services. but what they're saying is, "despite any proof to the contrary, I believe that there is a way to profit from social media, and I want to hire someone who can do this."

Personally, I'd like to hire someone who could spin straw into gold, but I shouldn't be surprised if all the applicants claiming that ability turn out to be dishonest. Of course, profiting from marketing efforts in "social media" and "social networking" is much more plausible than spinning straw into gold. And every business should always allocate some resources to exploring new opportunities. However, given the absence of any clear evidence that it is being done, merchants should not over-allocate resources to this pipe dream.
  #3  
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  #4  
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???? ok Paul Ward you lost me, I am not that smart to dictate those confusing big words!!!!
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  #5  
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Quote:
Originally Posted by snappy
???? ok Paul Ward you lost me, I am not that smart to dictate those confusing big words!!!!
Bears sh!t in the woods - the Pope is catholic.
  #6  
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Half a Bubble Off Plumb
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Quote:
Originally Posted by Paul_Ward
Bears sh!t in the woods - the Pope is catholic.


Laugh of the day!
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  #7  
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If I could figure out how to make money from Social Networking, I certainly would not go job hunting and tell some dork how to do it ... create a business plan, find a venture capitalist and become Sergey II.

The problem always comes down to eyeballs ... how many, from where, do they have a credit card with a postive balance ... do they need what I have or want it because all the other lemming have it or want it.

It's pretty simple though ... it's all click or better eyeball arbitrage ... cost of eyeballs versus revenue per eyeball. You have a positive number you are golden ... figure out how to scale it
up even better.
  #8  
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People that say social media campaigning is non profitable, I think that is just the people who don't know how to earn through it. It is saturated highly, however you need the right skill set to succeed in this niche' Do some more studying. : )
  #9  
Old
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Join Date: September 11th, 2008
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I did have to laugh at the fact that when I first went to the article, the first thing I saw was a "Tweet This" link so I could promote the article via twitter.
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  #10  
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Join Date: May 18th, 2006
Location: Madison, WI
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I think it all comes down to push vs. pull marketing.

SEO and PPC are pull marketing because people are actively searching for a topic or offer.

Social media is push marketing because people are doing something else while ads are being pushed onto them.

I'll take the click through and conversion rates of pull marketing over push social media marketing any day.
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  #11  
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Quote:
Originally Posted by EricTyler
I did have to laugh at the fact that when I first went to the article, the first thing I saw was a "Tweet This" link so I could promote the article via twitter.
Hehehe, that's typical....."do as I say, not as I do."
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  #12  
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There seems to be niches growing through social media, but not widespread opportunities yet.
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  #13  
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I agree with Mark that we all should be looking into the social scene but don't sell the farm to do it. For the last two years have been toying with blogs, Facebook and twitter. Now have my RSS from blogs going through Twitter and added that to Facebook fan pages. Have two people a day joining me on Twitter and I haven't sent a tweet for months. On the affiliate management front am seeing applications for Twitter accounts particularly by couponers. One guy told me he could get 2000 tweets out with aff links in a few minutes, instant media.

Am glad to see that MySpace is dogging behind especially after Fox passed it around at the conferences several years ago. They never gave affiliates a way to monetize it and were just looking for ad buyers.

My teenager said she emailed me the other day but I never saw it. She did it on Facebook which I don't check as often. That is what the youth are now considering email. Guess where they are spending their time?
  #14  
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Join Date: January 17th, 2005
Posts: 57
Social has great utility when it comes to reviews --particularly bad reviews.

"in the age of Twitter, electronic word-of-mouth is immediate, as early moviegoers tweet their opinions on a film to millions of 'followers.' Instant-messaging can make or break a film within 24 hours."

http://www.time.com/time/arts/articl...910059,00.html
  #15  
Old
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Join Date: January 18th, 2005
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Countering my own post above, here's an interesting blog post about a "successful" social media marketing effort: "A Social Media Success Story" -- of course, it's a self-serving write-up by the marketers who handled the campaign, but it does provide some insight.
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  #16  
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An affiliate of mine just sold 5 ebooks through clickbank with the referrer being various facebook pages, which I can't actually see. But someone just earned some money for themselves with social media. Not exactly in the billion dollar range though.
  #17  
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I would think 'twitter' might be an interesting tie in to a search engine to tell people it is not goofle or bing, bang, bong. Now, I should think that if Oprah tweeted about something that might make a few schekels for someon.

Personally, I think you could sell alot of online 'shotguns' that you used to go 'twitter' hunting. It's open season on twitter birds ... get your online hunting liscense for just $5. Blast away until the twitter birds become instinct. It will make you feel better.
  #18  
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Quote:
Originally Posted by Paul_Ward
Bears sh!t in the woods - the Pope is catholic.
took me this long to scroll down
Edit: Contribution to the thread.....
I use twitter passively and I make a passive income from it. I use ppc aggressively and I make $$$ aggressively. With social networking its all in who you know. I know affiliate marketers so its tough selling them webhosting when most likely they are going to buy on their own links. lol
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  #19  
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Quote:
Originally Posted by Chuck Hamrick

My teenager said she emailed me the other day but I never saw it. She did it on Facebook which I don't check as often. That is what the youth are now considering email. Guess where they are spending their time?
Teenagers in my neighborhood are using facebook to do homework right after school. Then socializing after, etc.

No wonder they say that teenagers don't twitter, they spend half their life on facebook.
  #20  
Old
More Cheesier Than Ever
Join Date: January 18th, 2005
Location: Land of The NFL Champs!
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Facebook is incredibly popular. Even my wife uses it. And that is the only thing she ever uses on the computer other than pay bills. She hates computers.

Trouble is, Facebook is set up to make money for Facebook. Yeah, I will occasionally put up a link to a page I have on our "wall" (account for both my wife and I) but a fairly small number of people see it and an even smaller number click on it. If we had tens of thousands of Facebook friends, more would see what I post, but then my post would be buried quickly by many other posts.

I take Facebook for what it is - a nice way to keep in touch with friends.
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  #21  
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We're starting to see conversions from affiliates that are using Facebook ads. This is retail stuff and not ebooks/info products. I think that if you are good at PPC you will be able to be good at Facebook ads, you just have to tweak the ads to the audience.

*I* don't shop from within Facebook, but apparently a growing number of people are.
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  #22  
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More Cheesier Than Ever
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Quote:
Originally Posted by loxly
We're starting to see conversions from affiliates that are using Facebook ads. This is retail stuff and not ebooks/info products. I think that if you are good at PPC you will be able to be good at Facebook ads, you just have to tweak the ads to the audience.

*I* don't shop from within Facebook, but apparently a growing number of people are.
I tried them. They could not convert at a good enough rate. The nice thing about them however is the ability to target demographics that Google can't. Might give them a try with some other products/sites.
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We're gonna go inside, we're gonna go outside, inside and outside. . . And then we're gonna go go go and we're not gonna stop til we get across that goalline! Quotes from the movie Rudy, 1993
  #23  
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Join Date: November 13th, 2008
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I think where there is traffic there is a way to capitalize, someone just needs to figure out the best way and they'll make billions.
  #24  
Old
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Join Date: June 11th, 2009
Posts: 97
The traffic is definitely amazing, but the conversions, not too sure about.I think Social Media advertising is still being explored and we are yet find someone who is doing extremely well, but I am sure that will ultimately happen.

As Cheesehead has rightly said Facebook as of now is a good way to keep in touch with friends.Most people use it to talk rather than buy or sell I suppose.

Cheers
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  #25  
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I think when people look at social media, iPhone apps, and other new technologies and think "I can do affiliate marketing in this, just like with a web site", they're missing the full picture. There are other ways to monetize these technologies that may work better (although I'm not saying to disregard affiliate marketing) and there are other benefits to these technologies like leverage, consumer interaction, reach and trust that you can get out of these technologies.
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