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Why Social Media Degrees Are Like Throwing Money Out the Window

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Social media skills have certainly come in demand for job-seekers in the marketing field and many companies are asking that candidates have some knowledge in how to market using social media. Many colleges have been offering classes in the social media arena for a while now. In fact, I’ve taken some of them. However, according to an article in Social Media Today, some colleges have taken it to the next level and have actually created entire social media degrees. An article published by The Center for Digital Education refers to Newberry College which plans on offering social media as a separate major starting in the Fall of 2013.

While the desire to get educated in social media is certainly admirable, any classes except those taught on a broad level with very general studies would be a waste of time and useless, in my opinion. Social media is a hyper-dynamic field in which one has to constantly adapt. Social networking sites are coming and going all the time. What’s hot today is thrown by the wayside tomorrow. Even if the classes focused entirely on the big two – Facebook and Twitter – even those two sites change continuously and while Twitter hasn’t made too many major changes, Facebook is constantly changing what its delivering to people’s newsfeeds. Even seasoned “pros” that have been working in the field for a long time constantly have to learn, evaluate and analyze not only current social media sites but also emerging ones.

To offer a college degree solely dedicated to social media is pointless on several levels. First, for the most part, the people that a university would employ as professors are typically not spring chickens. In fact, according to Wikipedia, the median age of a college professor is 55 years old with “very few people attain(ing) this position prior to the age of 40.” According to one study, more than half of social media users are between the ages of 25-44. Don’t get me wrong. I’m not saying that a 55 year old person isn’t able to “know” social media well enough to teach it to a bunch of 18 year olds. That being said, I believe most of those 18 year olds probably know (and use) social media more than their professors. As far back as 2009, there was a University that was offering a Master’s degree in Social Media. According to Mashable, “some of the students have already described the course as too basic.”

Learning effective marketing, in general, in association with business and writing skills is certainly valuable to a young person planning on going into the marketing field. However, how valuable will the social media knowledge that is taught to them in college be four years later which was, percentage-wise, not being taught by the most educated (social media-wise) professor? I’ve taken classes on social media in which I knew more about it than the professor, which was why I stopped taking them. My goal was to learn, not spend money for a piece of paper that says I’ve learned skills that are already outdated.

Social media changes constantly. Social networks come and go daily. Learning how to effectively market on any given social media platform is a continuous job filled with analysis and adaptation. Trial and error, testing and re-testing, then adapting strategies based on what works NOW, is how most social media professionals “get the job done”. If there was a magic bullet or concrete list of techniques detailing the best way to market on each platform, whoever wrote that would be rich. I equate it to offering a class on how to create viral videos… while the class may exist, there is no formula that can produce this result consistently or, again, whomever discovered that would be rich. Then, of course, if everyone knew how to create viral videos because some magic formula came along teaching them how, none of them would be considered “viral” anymore.

There is no way social media can exist as its own major and be relevant 4 years later. My advice would be to use college to fill up on effective marketing, statistics, and business courses, in general, and take extra time, on your own, doing what you’re already doing anyways – using social networks. Read and learn on your own from the people who are willing to share their knowledge and expertise online (of which there are many) and are taking the time to keep up with current trends, techniques and changes in the world of social media. You could try and secure an internship at a company that specializes in social media to gain some practical, current, working knowledge of social media marketing.

I guarantee that you will come out of college prepared to enter the job market and will not have wasted 4 years (and who knows how much money) just to learn at the end that you haven’t learned anything.

Stat of the Week and In The News Compilation – November 2012

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In the News – November 6, 2012 – [LINK]

Instagram Rolls Out Web Profiles

Instagram began launching web profiles on Monday, according to Mashable. Facebook has wasted no time in their attempt to knock some of the steam out of Pinterest. In our August 10 “Stat of the Week”, we shared how Pinterest is the 4th largest driver of retail web traffic and drives four times as much as Facebook. It appears as if Facebook is fighting back by leveraging their recent purchase of Instagram to gain some ground in the search arena. The fact that Instagram will have a web presence and is owned by Facebook certainly puts them on the map and in contention immediately. As mentioned in the Mashable article, Facebook and Instagram integration is sure to deepen which doesn’t bode well for Pinterest. It remains to be seen whether Instagram will have the SEO value that Pinterest currently does, but with 100 million registered users versus Pinterest’s 20 million (per Forbes, July 2012) Instagram certainly has a built in audience that position it to do so.

Stat of the Week & In the News Compilation September/October 2012

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September 24, 2012: “In the News” – [LINK]

Free Ride for Facebook “Offers” Comes To An End

If you’ve been using Facebook’s “Offers” feature with your business page, the free ride is over. According to the Wall Street Journal, Facebook began charging businesses last week to run new offers. The “Offers” pricing structure is similar to the “Promoted Post” feature, it will vary based on how many “Likes” you have and how much exposure you want, with a $5 minimum charge for smaller business pages. This move is certainly in line with Facebook’s need to further monetize its services to appease stockholders. While “Offers” may now cost money, the “Deals” feature is still free for businesses to use… for now.

September 27, 2012: “Stat of the Week” – [LINK]

5 million

Apple set new sales records last week, with the much-anticipated release of the iPhone 5. The company sold 5 million phones in just 3 days with 2 million phones sold within the first 24 hours, according to many sources including the International Business Times. Pre-orders for the first batch of iPhone 5s sold out inhours from Apple and all other vendors, the day pre-orders began–and that was just in the U.S. Today, the iPhone 5 launches in 22 countries with inventory already in short supply. Clearly, mobileusers–and smartphone owners in particular– have arrived in force. They are using their phones to read and write customer reviews, search for stores and inventory, and become more connected than ever on a more sophisticated

October 1, 2012: “In the News” – [LINK]

State of California to Employers & Schools, “Quit Snooping”!
California Ruling Bans Employers and Schools from Demanding Social Media Passwords

Last week, California became the third state to pass laws that restrict employers and post-secondary schools from requiring access to social media accounts. California joins Maryland and Delaware in recognizing that social media accounts are private by nature and that forcing an employee or student to grant access is an invasion of that privacy. As quoted in an article from Bloomberg, California Governor, Jerry Brown, says that California is “pioneering the social media revolution and these laws will protect all Californians from unwarranted invasions of their personal social media accounts.” This is a trend that will likely continue to expand as social media awareness and use increases.

October 12, 2012: “Stat of the Week” – [LINK]

48%

According to this article in the Atlantic, “Facebook alone refers more than 48% of small business web traffic.” If you include Twitter, which is responsible for 4% of web traffic, these two social media sites account for over ½ of all small business web traffic. It is becoming more important for small businesses to have and cultivate Facebook and Twitter presences. Just like traditional advertising, you want to be visible where your customers are but, unlike a billboard or newspaper ad, with social media you have the opportunity to engage and communicate not only with your customers but with potential customers as well. With almost 1 in 7 people in the world owning Facebook accounts, learning how to properly use it and other social networks to market your business is no longer optional.

October 29, 2012 – “In the News” [LINK]

In the News: Government & Business Embrace Social Media for Hurricane Sandy Notices

As Hurricane Sandy bears down on the East Coast today, evidence that social media as a common news source and method of instant communication is becoming more prevalent. According to Computerworld, everyone from private individuals, airlines, and Federal, State and local governments and emergency services are turning to social media to relay information. Google has setup an interactive hurricane map, Facebook itself set up a Hurricane Sandy community page, FEMA is using social media to update citizens, airlines are using it to update people on flights with over 10,000 flights cancelled today across the country and the American Red Cross has integrated social media into its “Hurricane” app which allows people to “update friends and family by simultaneously sending out messages on Facebook, Twitter, via text, and e-mail.” The hashtag #Sandy is the top trending topic in all areas affected by the storm. These actions validate that social media has evolved significantly from simply a way to let your friends know what movie you’re watching to a legitimate means of delivering news and information instantaneously to a lot of people all at once in a centralized location.

Recording: How to Win Fans & Influence Newsfeeds (10/18/12)

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For anyone that’s interested, here is the recording of the webinar I conducted yesterday titled “How to Win Fans & Influence Newsfeeds: Increase Your Exposure & Reach on Facebook”. I had a lot of great feedback from surveys and comments left by attendees. I appreciate everyone who attended and for anyone who did not, I hope you get an opportunity to view it. If you do, please leave a comment on this blog and let me know what you thought! Thanks!

How to Win Fans & Influence Newsfeeds Increasing Your Exposure & Reach on Facebook from DealerOn on Vimeo.

 

iPhone 5 and iOS 6: My Thoughts

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I’ve had the iPhone 5 and iOS 6 for 5 days now so I thought I’d write a mini-review of my thoughts on both. This is certainly NOT a comprehensive review. Many of those exist already. These are just my personal impressions.

It’s light. – The iPhone 5 is certainly lighter than any previous iPhone. I like this feature as I typically carry my phone in my pocket. It’s hard to feel and sometimes I can’t even remember which pocket it’s in. That being said, I don’t get the impression that it’s less durable. In fact, one of the biggest complaints about it, according to Gizmodo who analysed the chatter about it, is the fact that it is too light.

It’s fast. – I can tell the difference in speed between the iPhone 5 and the iPhone 4S. I also had a Samsung Galaxy S III and it is certainly on par with that. This is in line with Mashable’s recent article comparing the speed of the two.

LTE rocks. – The one thing I LOVED about the Samsung Galaxy S III was the LTE ability. The iPhone 4S still used 3G and it was very slow. Sometimes painfully so. The new LTE integration rocks. Seeing as I recently moved to Chapel Hill, NC (which has great LTE coverage presumably due to UNC and it’s student body), I have excellent LTE coverage. Being that I did not where I lived in California, I love this.

It’s unlocked out of the box. – Not that I ever want to do business with or have a phone with service on AT&T but, according to the Huffington Post, the Verizon version of the iPhone 5 comes unlocked straight from the factory. It’s nice to know but I doubt I will ever need it. However, that being said, when the iPhone 6 (or 5S) comes out, I have double the market of people to sell it to, which is nice. Personally, if I were going to pay full price for the phone and I had AT&T service, I would buy the Verizon version and use it on AT&T since it comes unlocked whereas the AT&T version does not.

Facebook Integration. – Being a social media guy, this was a huge deal for me. The iPhone Facebook app sucks. Really sucks. It’s painfully slow. The ability to post to Facebook straight from my phone is great. It’s easy and painless. You can also use Siri to do it just like you can with tweets. I don’t really use Siri but it’s nice to know that I could if I wanted to. Another benefit to the Facebook integration is authorizing apps. In previous versions of the OS, when you wanted to authorize an app to access your Facebook account, it would flip open a Safari page and you had to type in your e-mail address and password to complete the authorization. In iOS 6, it still flips open a Safari page but because your Facebook account information is on your phone, it authorizes it and returns to the app, similar to what happens with logging into a website or connecting a website to Facebook while logged in to Facebook on your computer.

Do Not Disturb – I love this! It’s very nice to be able to set DND for specific times and not get an e-mail received alert at 2am (since the early morning hours are typically when retailers seem to think is the best time to send e-mails). If you add people to your favorites, it will allow those calls to come through (like your wife, kids, or whomever else you like) and block the rest.

Maps. – Suck. Yes, they do. Very much so. I attempted to get directions to a place that was about 5 miles away or less. It gave me directions to a place in Texas. Yeah, big fail. No matter how hard, or how specific, I got. Texas came up every time. Apparently, Apple is a Texas fan. Maybe it is because everything’s bigger there or they didn’t want to mess with Texas.

App Store – I like the new presentation of the iTunes/app store. It’s easier to navigate and you get more information without jumping back and forth between the search results list and actual information about an app. You just flip through the search results similar to how you would in the Music app on the phone with the information right on every result.

EarPods – I have yet to open or try these but they look cool and come with a storage case. It’s hard to want to use them in lieu of my Beats by Dre Studio headphones. Just saying.

New connector – Personally, I don’t have any issues with it. Yes, I know it is inconvenient and forces you to pay $29 for the adapter (assuming you want to use your old accessories with your new iPhone). I like that you can insert it into the iPhone 5 any way (ie. there’s no “right way” as there is with the old connector. My guess is that Apple got sick of replacing damaged iPhones from people attempting to force the 30-pin connector upside down. Of course, it could also be about money. Or both.

Cases (or lack thereof) – I’m not a fan of cases so I don’t really care. If you’re a case fan, I’m sure there will  be plenty of cases available for you soon. Personally, I think the iPhone 5 is very well designed and nice looking as is. By adding a case, you increase the phone’s weight and that is one of the features I like the most. If you tend to drop your phones or are just a paranoid person, buy the insurance from your phone carrier (typically $8-$10/mo) OR and even better (and cheaper) way to insure your phone is to add it to your homeowner’s policy as a rider. In the past, I have added my previous iPhones to my State Farm policy with a zero deductible, replacement value policy for $24 PER YEAR. Beat that.

Screen – It is longer. The best benefit of this is that you can have 5 rows of apps on a page versus 4 from before. For those who have a lot of apps or have a lot that they use often, it is nice to be able to stick those extra apps on the home screen. As for “brighter” and “more vibrant” – well, I can’t really see much of a difference. It’s still a nice screen like the iPhone 4S, however, and it seems a little more responsive since the touch functionality is integrated into the screen now rather than being a separate layer.

iCloud – I had this on my 4S. I paid the $25. It’s nice that it backs everything up and, when I got my iPhone 5, I was able to immediately restore all my apps and settings via iCloud over wi-fi so I didn’t have to wait until I got home to sync my phone. One of the features that I don’t like (and never have) is the inability to actually sync your music and physically have it on your phone without having to stream it and/or download every freakin’ song straight to my phone from iCloud. It would be much faster and more convenient to just be able to put it on my phone, as you could in the past, and not be dependent on having a wi-fi connection or eating up allocated data over LTE.

Anyways, those are my initial impressions. It ended up being longer than I anticipated, and there are plenty of features I didn’t cover, but that’s mainly because I have never used them – like AirPlay and AirPrint, etc.

Should you upgrade from your iPhone 4S? That’s up to you. It’s very similar to the decision you may, or may not, have had to made when the “New iPad” came out and you owned an iPad 2. I, personally, chose to keep my iPad 2 and NOT upgrade it. In this case, however, I chose to upgrade (obviously). Partially because I use my phone WAY more than I use my iPad and partially because I like having the newest technology (I am an early adopter. Very much so.). The choice is up to you but there are TWO features that made my decision quite easy: lighter and LTE. That was enough for me.

 

Facebook Promoted Posts: Are They Right For You?

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Facebook’s Edgerank algorithm—the formula used to determine the order content appears in a given newsfeed based on which content is deemed most relevant to that user—may make the Facebook experience more seamless for casual browsers, but it’s a challenge for businesses that harness the social media platform as part of a marketing strategy. After all, thanks to Edgerank, each post on Facebook only makes it onto the newsfeed of about 12-17% of its fans. The fans that do see it are more likely to be those that have already chosen to visit your page, or that regularly interact with your posts. Edgerank’s feedback-loop effect makes it harder than ever to reach and engage consumers that don’t self-select your business’s content.

To counter those daunting odds, Facebook recently introduced a new service allowing business pages with greater than 400 “likes” to pay a fee to promote individual posts. This new feature allows a page owner to select a single post, which could be a status update, photo, video, question, or offer, and pay a premium to increase the reach for that post beyond the circle of fans that are already engaged with your content. Not only that, but promoted posts are supposedly more likely to be seen in the newsfeeds of friends of fans, too.

Promoted posts have a one-time, pre-set budget that remains in place for the life of the post.  While setting up a promoted post, you will be asked to choose a budget from a suite of options that includes the post’s estimated reach at each payment level. The promotion can be suspended or stopped at any time regardless of whether your maximum budget has been used. Promoted posts do have some targeting capabilities, including geographical location and language, but these can only be applied to posts that are less than three days old.

Sounds Great—but Do They Work?

I set out to test the promoted posts feature on my blog’s fan page (which has 613 fans) to see how it performed versus a normal, “organic” post. I’d recently created a page on my blog that consists of a dedicated list of available educational events and conferences for automotive dealers. I shared this blog page via a status update on May 23rd, prior to the launch of Promoted Posts. The post performed as expected, reaching roughly 13% of my page’s fans with a marginal viral reach (a measure of how many impressions came from non-fans who encountered the post because a fan of the page shared or interacted with the post).

  

Keep in mind that my Facebook page isn’t particularly active, nor do I put too much effort into engaging my fans, which limits the reach of posts. I mainly use the page to post blog articles, so I don’t expect high engagement, but these statistics are in line with the average reach reported by others.

On June 2, I decided to test out the new Promoted Posts feature. Upon creating the new post, the only option presented to me was to pay $5 to reach an estimated 300 people.

The post I promoted was essentially the same as the previous one – a status update which included an external link to the same page on my blog. I did no other social media promotion at all for this post and let it run for the full three days.

Here were the results:

  

As you can see, the post exceeded the estimated paid reach (with 324 rather than 300 paid impressions), and it also reached 1200% more non-fans (13 vs. 164) via viral sharing, substantially increasing exposure to my fans’ social networks. Organic displays also increased by almost double (70 vs. 132). The promoted post didn’t increase engagement but, the post itself wasn’t really designed to encourage engagement. I also didn’t see a noticeable difference in traffic to the external page on my blog, with the average number of daily visitors to that specific page remaining roughly the same.

Two interesting side notes: First, Facebook defines paid results as “the number of people who saw your page post in an Ad or Sponsored Story.” But when signing up for the service, Facebook never mentioned that my promoted post could potentially be displayed via an Ad (on the right of the newsfeed) versus as a Sponsored Story (within the newsfeed itself). In my estimation, Ads constitute weaker exposure than Sponsored Stories, but I have to assume that at least some of the paid exposure for my promoted post came via Ads.

Second, as mentioned previously, I was initially only given the option to reach 300 people for $5. However, when I looked into promoting another post following my initial trial, I was given a second option to reach 700 people for $10, as well. This tells me that Facebook underestimated the results they could deliver.

Are Promoted Posts for You?

As in any form of advertisement, you must have clearly defined goals before spending any money. Here are some questions you should ask yourself before making a decision one way or another regarding promoted posts.

1.    How large is your page’s fan base? Keep in mind that the larger your fan base, the more potential reach each promoted post will have, which will result in a higher upfront cost.

2.    Are these actual customers, or are they a random assortment of individuals who were collected in an effort to grow the number of fans at all costs? I consider fans to be relevant if they are potential or existing customers who could realistically do business with you—whether that’s via sales, service, or parts—and whose social networks will, in all likelihood, include more relevant people. In the case of dealerships, for example, it does you no good to increase exposure to people outside your PMA, vendors, or anyone else who doesn’t have the ability to spend money with you. Note, however, that the geo-targeting option does allow you to more efficiently reach relevant fans.

3.    What is your goal for promoting a particular post? Is it to increase engagement? Increase exposure for an offer or event? Share important information with your fans? Lead people to an external website or conversion page?

In my opinion, promoting a post just for the sake of promoting it is ill-advised. If you have clear goals in mind, you should be able to accurately track whether your money was spent wisely. Did you actually increase engagement, and was that engagement by new people rather than those who already regularly engage with you? Did more people take advantage of your offer? Did you receive more traffic (via Facebook) to the external link you included in your post?

If you’ve built your fan page organically via your website, in-store signage, or via inclusion in other marketing channels, I could see a promoted post helping to jumpstart your page by potentially increasing your fans via increased exposure to THEIR networks. Keep in mind that the majority of the people you will be reaching already like your page so, in my opinion, the greatest potential of Facebook Promoted Posts is in its ability to extend your exposure beyond your fans and into their social networks.

That being said, a well-thought-out promoted post with clearly defined goals has the potential to increase reach and revenues—all at a relatively low cost.

via the June 2012 edition of the 3 Birds Marketing newsletter

Facebook Promoted Posts

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Facebook’s Edgerank algorithm—the formula used to determine the order content appears in a given newsfeed based on which content is deemed most relevant to that user—may make the Facebook experience more seamless for casual browsers, but it’s a challenge for businesses that harness the social media platform as part of a marketing strategy. After all, thanks to Edgerank, each post on Facebook only makes it onto the newsfeed of about 12-17% of its fans. The fans that do see it are more likely to be those that have already chosen to visit your page, or that regularly interact with your posts. Edgerank’s feedback-loop effect makes it harder than ever to reach and engage consumers that don’t self-select your business’s content.

To counter those daunting odds, Facebook recently introduced a new service allowing business pages with greater than 400 “likes” to pay a fee to promote individual posts. This new feature allows a page owner to select a single post, which could be a status update, photo, video, question, or offer, and pay a premium to increase the reach for that post beyond the circle of fans that are already engaged with your content. Not only that, but promoted posts are supposedly more likely to be seen in the newsfeeds of friends of fans, too.

Promoted posts have a one-time, pre-set budget that remains in place for the life of the post. While setting up a promoted post, you will be asked to choose a budget from a suite of options that includes the post’s estimated reach at each payment level. The promotion can be suspended or stopped at any time regardless of whether your maximum budget has been used. Promoted posts do have some targeting capabilities, including geographical location and language, but these can only be applied to posts that are less than three days old.

Sounds Great—but Do They Work?

I set out to test the promoted posts feature on my blog’s fan page (which has 613 fans) to see how it performed versus a normal, “organic” post. I’d recently created a page on my blog that consists of a dedicated list of available educational events and conferences for automotive dealers. I shared this blog page via a status update on May 23rd, prior to the launch of Promoted Posts. The post performed as expected, reaching roughly 13% of my page’s fans with a marginal viral reach (a measure of how many impressions came from non-fans who encountered the post because a fan of the page shared or interacted with the post).

Keep in mind that my Facebook page isn’t particularly active, nor do I put too much effort into engaging my fans, which limits the reach of posts. I mainly use the page to post blog articles, so I don’t expect high engagement, but these statistics are in line with the average reach reported by others.

On June 2, I decided to test out the new Promoted Posts feature. Upon creating the new post, the only option presented to me was to pay $5 to reach an estimated 300 people.
The post I promoted was essentially the same as the previous one – a status update which included an external link to the same page on my blog. I did no other social media promotion at all for this post and let it run for the full three days.

Here were the results:

As you can see, the post exceeded the estimated paid reach (with 324 rather than 300 paid impressions), and it also reached 1200% more non-fans (13 vs. 164) via viral sharing, substantially increasing exposure to my fans’ social networks. Organic displays also increased by almost double (70 vs. 132). The promoted post didn’t increase engagement but, the post itself wasn’t really designed to encourage engagement. I also didn’t see a noticeable difference in traffic to the external page on my blog, with the average number of daily visitors to that specific page remaining roughly the same.

Two interesting side notes: First, Facebook defines paid results as “the number of people who saw your page post in an Ad or Sponsored Story.” But when signing up for the service, Facebook never mentioned that my promoted post could potentially be displayed via an Ad (on the right of the newsfeed) versus as a Sponsored Story (within the newsfeed itself). In my estimation, Ads constitute weaker exposure than Sponsored Stories, but I have to assume that at least some of the paid exposure for my promoted post came via Ads.

Second, as mentioned previously, I was initially only given the option to reach 300 people for $5. However, when I looked into promoting another post following my initial trial, I was given a second option to reach 700 people for $10, as well. This tells me that Facebook underestimated the results they could deliver.

Are Promoted Posts for You?

As in any form of advertisement, you must have clearly defined goals before spending any money. Here are some questions you should ask yourself before making a decision one way or another regarding promoted posts.

1. How large is your page’s fan base? Keep in mind that the larger your fan base, the more potential reach each promoted post will have, which will result in a higher upfront cost.

2. Are these actual customers, or are they a random assortment of individuals who were collected in an effort to grow the number of fans at all costs? I consider fans to be relevant if they are potential or existing customers who could realistically do business with you—whether that’s via sales, service, or parts—and whose social networks will, in all likelihood, include more relevant people. In the case of dealerships, for example, it does you no good to increase exposure to people outside your PMA, vendors, or anyone else who doesn’t have the ability to spend money with you. Note, however, that the geo-targeting option does allow you to more efficiently reach relevant fans.

3. What is your goal for promoting a particular post? Is it to increase engagement? Increase exposure for an offer or event? Share important information with your fans? Lead people to an external website or conversion page?

In my opinion, promoting a post just for the sake of promoting it is ill-advised. If you have clear goals in mind, you should be able to accurately track whether your money was spent wisely. Did you actually increase engagement, and was that engagement by new people rather than those who already regularly engage with you? Did more people take advantage of your offer? Did you receive more traffic (via Facebook) to the external link you included in your post?

If you’ve built your fan page organically via your website, in-store signage, or via inclusion in other marketing channels, I could see a promoted post helping to jumpstart your page by potentially increasing your fans via increased exposure to THEIR networks. Keep in mind that the majority of the people you will be reaching already like your page so, in my opinion, the greatest potential of Facebook Promoted Posts is in its ability to extend your exposure beyond your fans and into their social networks.

That being said, a well-thought-out promoted post with clearly defined goals has the potential to increase reach and revenues—all at a relatively low cost.

[Article originally published in the June 2012 issue of the 3 Birds Marketing e-newsletter]

Social Media Safety Part 2: Photos

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In my previous article, I covered the dangers of foursquare. While there are probably still many people who don’t use foursquare, this article’s topic is one that most social media users use: photos. We all take pictures and post them to Twitter, Facebook, Flickr, etc. Many people are posting them simply to share with close family and friends while many more (including your kids) are posting them to a larger social network that, many times, doesn’t include people they know.

First and foremost, if you’re posting pictures online, beware of the content of the photo for many reasons. There are so many perils involved including:

  • Potential issues with current or future employers
  • Photos of your children can create a virtual menu for pedophiles.
  • Photos of your “stuff” can attract criminals and make you a target.
  • Photos of “where you are” also tell people “where you are not”
  • Photos of you also create opportunities for crimes; especially against women.
  • Photos can also aid in identity theft.

Wow, you may be saying. You may also be questioning the veracity of some of my claims. Forgetting the fact that most people don’t use privacy controls on social networks to their full capabilities, there’s one thing many people do not know.

Most people who are posting photos to social networks are using their cell phones to take those pictures and post them to their social networks. It’s easy, convenient, most cell phone cameras rival those of dedicated cameras, and many cell phones integrate with social media networks.

Another feature most cell phones have is GPS functionality including many non-smart phones.

Why is that important?

When you take a picture from a cell phone that has GPS capabilities, the GPS data for the location the picture was taken is encoded into the file for the picture itself. Yes, it’s there and easily accessible for those who know how.

What does that mean?

It means that not only are you sharing the content of the photos but also the location the photos were taken at. By sharing photos taken at your home, you are also giving out the EXACT LOCATION of your house down to the exact GPS coordinates. You know those photos of your cool stuff? Yeah, not only do criminals know WHAT you have, they know WHERE it is. Those photos of your children in your house? Yes, you just provided your children’s location as well. Belong to a dating site? That profile picture you uploaded could be contributing where you live along with all the other facts you posted about yourself.

Photos shared online create an even higher degree of danger than checking in to foursquare. The more public the social network, the greater the risk you take.

Luckily, most camera manufacturers have included the ability to turn off GPS services for the camera functionality. Learn how to turn this feature off. By turning this feature off, you remove GPS data from your pictures and make them a little safer to post.

You should still be judicious in what you are sharing but at least you’re not sharing your location anymore.

Related articles:

“Web Photos That Reveal Secrets, Like Where You Live” by Kate Murphy, NY Times [LINK]

“Get iPhone GPS and Geolocation Data” by Manish Patel [LINK]

“Manage Location Data in the Pictures You Take” by Jerry Hildenbrand, Android Central [LINK]

“Facebook Users Beware: GPS Data In Photos Can Reveal Where You Live” by Armand G [LINK]

Tip: Why (and How) You Should Buy Facebook Stock

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[UPDATE 5/22/12: According to this article by AllFacebook.com, Facebook has reversed course and decided not to issue paper stock certificates so this whole article just became a fantasy.]

First, a disclaimer: I am not a financial advisor in any way, shape or form. What I AM is an entrepreneur so take this advice from that standpoint. There is never a guarantee of future value but this is why I think it’s a good investment.. if bought in a certain way.

Today, Facebook held its IPO to much media attention, speculation and became the largest IPO ever in the history of IPOs. There is a ton of advice saying that the opening cost is overpriced, to wait, etc. and that its a bad initial investment. I disagree but only from the perspective, and using the method, I describe below.

When a popular company has an IPO, they can choose whether or not to allow investors to obtain a physical stock certificate or not. Most companies do not and, if they do, its for a limited time. Facebook chose to allow investors to request and obtain physical stock certificates.

facebook-stock-cert.top

I’ve been selling things on eBay for over 14 years and I’m always on the lookout for things to sell and make a profit so I thought about this and did some research.

When Apple had its IPO in 1982, shares cost $22 each. They also offered the option to buy a physical certificate. Without any consideration for the current market value of that share, the actual certificate itself has a market value of almost $600 on eBay. Say you bought 100 shares and asked for individual certificates. The certificates ALONE would make your initial investment of $25/share ($2500 after adding a few dollars for the certificate) worth $60,000. If you actually retained ownership of the stock itself, without consideration for any stock splits or anything else, the shares themselves would be worth $53,259 (value as of May 18 at 12:00pm PST). You can retain ownership of a stock and sell the actual certificate so your initial investment with physical shares is suddenly ~$113,259. Yes, it took 30 years to make this but it’s still a VERY healthy return on your investment.

Let’s say you really don’t want to retain ownership of the shares as an investment. You buy the shares and order the physical certificates. Wait a couple months to receive the certificates, then sell the shares. Let’s say the shares have tanked and they are only worth $10 each at that point. You’ve recouped $1000 of your initial $2500 investment so you’ve lost $1500 BUT you still have 100 stock certificates which are, at this moment, worth $60,000. So your $1000 investment netted you $59,000. Best case, the share price is up and you can make a profit on the initial investment and, again, still have the actual certificates, in this case, for no investment.

People like collectibles and owning a piece of history. If you’re going to buy the stock anyways, pony up the extra couple of bucks a share (Make sure to get individual shares on each certificate rather than multiple shares on one certificate to maximize the potential future sale as people are buying the certificates themselves. There is no difference in value between a certificate that is for 1 share or 100 shares.) and have the extra potential return.

Other examples:

My guess is that a certificate purchased on (or near) the actual IPO date would be worth more to a collector in the future (as in the Apple stock certificate example). I also believe that the initial stock shares will be signed by Mark Zuckerberg based on similar past IPO certificates.

Of course there’s never any guarantee that the certificate will be worth anything in the future and this is certainly a long term investment whether you keep the shares AND the certificates or just the certificates. Whichever you decide to do, there’s more POTENTIAL in having the certificates then in not having them. In addition, due to the high demand for the stock itself, I don’t believe Facebook will be offering paper certificates for very long so you could have a narrow window to take advantage of this.

Most stock certificates won’t sell like this, of course. The examples I use are exceptions but I believe Facebook will fall into this category. If an old AOL floppy disc (that were everywhere “back in the day” and that they mailed to everyone once a week, it seemed) can sell for almost $10,000 on eBay… well, you get my point.

Either way, in my opinion, it’s kind of cool to own a piece of history.

Coffee Is For Closers: A Social Media Success Story

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For many small businesses, social media is a daunting, unwieldy task with results that are typically discouraging. Many businesses either don’t see the point in doing it or they try it and quit after not seeing any interaction. How many Facebook pages have you seen abandoned after a short life-span? You go to their page and the last post was 6 months ago. In my career, I’ve seen many.

Recently, an independent coffee shop in New Hampshire came to my attention through social media. I live in Southern California and have never even stepped foot in the state of New Hampshire so a local independent coffee shop would have never been on my radar much less caused me to start paying attention to it.

A&E Roastery is a small, independent coffee shop located in Amherst, NH. I became aware of them through a social media contest they started on their Facebook page celebrating their 10th anniversary. A&E Roastery bought in to social media. You can see that they began using Facebook as a business in January 2010. They have a corporate Twitter account, a foursquare account and a blog that is regularly updated with fresh and relevant content.

The contest was brought to my attention by someone in my social media network (and industry) who is a regular customer of theirs.

The genesis of the contest was the shop’s involvement in a local baseball league consisting of 8-9 year olds. A&E Roastery and their local PR firm collaborated on ideas with which to gain exposure for the shop in conjunction with their sponsorship. The contest was simple. Customers participated in and gathered votes to be proclaimed the MVP of the shop and win free coffee for the rest of 2012.

My involvement started only as one of supporting a friend in his quest to win this contest at a business he obviously frequents and loves. Over the next 9 days, it slowly started dawning on me that A&E had accomplished what not many small businesses (or large businesses for that matter) have been able to do… engage with their fans. You see, it’s easy to GAIN fans. Many people judge social media success by quantity. The more fans or followers I have, the better job I’m doing when, in fact, a more accurate measurement of social media success is engagement. How do the fans you have, regardless of the quantity, engage with you?

A mutual friend suggested I write a blog post about this contest. My initial reaction was skeptical. To be blunt, I didn’t believe there was much there to write about.

As I began digging in and really looking, I found amazing statistics and results from a contest that is still ongoing.

These statistics begin on May 7, the date the contest started.

  • From January 2010 to January 2012, A&E had accumulated approximately 500 fans (approximately 20/month). Over the next 3 months (Feb-April), they added 107 for an average of about 35 per month. In the month of May alone, they’ve added 219 fans for an average of 14 per day.
  • On May 6th, A&E Roastery was averaging 5 new likes per week with 30 people talking about them according to Facebook Insights. Within 6 days of beginning the contest, they’ve increased their likes per week by 5,100% and the number of people talking about them has increased 660%.
  • Since the contest’s inception, the company itself has contributed 28 posts which accumulated 99 likes and 169 comments.*
  • Since the contest’s inception, the company’s fans have posted on their wall a whopping 100 posts with a total of 271 likes and 134 comments.*

In 9 days, A&E Roastery’s Facebook page has seen 128 posts that have generated 370 likes and 303 comments.*

To put this into perspective, I looked at the Facebook page of the Penske Automotive Group. For those who don’t know, the Penske Automotive Group is the second largest publicly traded automotive retailer in the United States as measured by total revenue. As of January 18, 2012, (they) owned and operated 166 franchises in the United States and 169 internationally encompassing 42 brands. They are a Fortune 500 company with 15,000 employees. [Wikipedia]

Over the same period of time, Penske posted to their Facebook wall 6 times which generated 98 likes and 76 comments. Penske’s Facebook page has almost 16,000 fans.

A&E Roastery had more than triple the engagement with 15,000 fewer fans.

A&E has hit the equivalent of a social media grand-slam home run with this contest. The passion their customers have for them is evident in not only the engagement their contest is seeing but in the exposure it is generating for them.

I spoke with Emeran, the shop’s owner, about her thoughts and goals for this contest. She felt the key to the contest’s success to this point is the social media saavy customers she has that have contributed to generating the buzz. The question she’s looking to answer is one that’s all too familiar to social media professionals and business owners – “How does that translate to growth in business?”. She went on to say that “the challenge is to assess what our new network looks like now and how to target those new people and translate that into revenue growth on both the retail and wholesale areas.” She felt it would be interesting to see not only if it did but by how much even though she shared that she knew this would be a difficult task to accomplish. Some of her new fans being from outside her local market is actually one that works in her favor as, in addition to the operation of this local shop, she has a thriving wholesale business selling the coffee beans they roast themselves. A&E currently has quite a few local businesses that serve her beans to their customers and she certainly isn’t opposed to expanding her wholesale business to other areas of the country.

The initial round of voting for the MVP nominees is scheduled to be reduced to 9 at the end of this week with a new round of voting on the remaining contestants beginning. The contest itself is scheduled to end a the end of this month.

To all my fellow automotive coffee enthusiasts, you might want to give A&E Roastery coffee a try. In the age of Starbucks, not many independent coffee shops can generate the loyalty and following from their customers that A&E has managed to do.

There’s probably a good reason for that.

*Statistics complied through May 16, 2012 at 8:30am PST.

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