Posts Tagged ‘Facebook’

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Facebook, Twitter and Buzz need to help social media make money…

This economy is making one thing abundantly clear…

The web needs money to survive!

And this money must come from some type of sustainable payment system. Free is a great price for consumers, but it fails to pay the bills for a business, even on the internet.

In the last week I have received two emails from the internet CEO’s explaining why they must now charge for a service that was once free. Both listed current economic realities as the reason for making the change.

I am OK with this news, because I accept that everything on the web cannot be free. In addition, I don’t believe that advertising should be called upon to subsidize all of these social networks.

The idea of a free web or some type of payment system is being debated in many internet circles, and particularly as it applies to the traditional news networks. Nielsen just completed some research as to what consumers would actually pay for on the web. The results indicate that consumers are more than willing to let advertisers pay for the free use of news stories, yet they will pay for some things.

The bright spot for those who believe that you get what you pay for, is that the survey found that internet users expect to pay for movies, music, and games. So it appears that we all will pay to be entertained in the internet.

And users spend more time on sites like Facebook to share, videos, images and games; so it appears that Facebook can provide a springboard for this entertainment-paying economy.

The fact that Facebook is already monetizing with advertising and virtual goods from games and other entertainment applications reinforces the survey results… A Free platform, with Paid entertainment venues builds a great partnership.

Online party games are well positioned to be able to find a sustainable monetization structure within these social networks. Parties that offer an opportunity to purchase a real gift will benefit from the proven economy of eCommerce from the likes of Amazon or Ebay.

Time will tell if the public will begin to pay for many of the services provided on the web. But current trends and public opinion point to some great opportunities in a few niches.

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PartyWeDo
The AlbinoPhant Creators
Your Party 2.0 Specialists

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Type A Mom suggests that every online application should find their ideal niche. The following is a definition of the niche that our parties are chasing…
Tell us what you think.

Social sites on the internet usually take one of two tracks to success: One is to create products with mass appeal, and the other is to find a valuable niche.

Mass appeal strategies usually require something that appeals to multiple ages and varying needs or interests. Facebook or YouTube come to mind as social sites with mass appeal.

Niche strategies focus on a smaller number of prospects or demographic, and then gather their customers from a market with significant numbers. Entrepreneur magazine suggests that “A niche marketplace is a small, specialized market segment within a larger, viable commercial industry”.

The AlbinoPhant Party is built to satisfy customers within the DSGS niche, which is a portion of the well established $115 Billion dollar US Gift Sales Industry.

What is a DSGS? They are gift purchasers who shop for and share gifts with those they love from a distance, or a Distance Separated Gift Shopper. Regular gift shopper’s purchase locally, then they wrap the item and make the delivery in person at some event or party. On the other hand, Distance Separated Gift Shoppers tend to rely on internet resources for their gift shopping needs and have deliveries made by others. Or they purchase locally, box and ship the item using standard shipping services. They usually miss the actual gift unveiling because distance has restricted the more desirable personal attendance.

Sarah Christensen is a DSGS. She is a parent, a child and a sibling of individuals who live at least a day’s drive from her home. Sarah has a history of supporting her family and friends by purchasing gifts and personally attending events or parties with those she loves. Even when separated by distance, she continues to look for efficient and economical ways to share with this group. Because she is over 50 and an empty nester, the volume of family and friends who live a distance away continues to increase, forcing her to become a regular Distance Separated Gift Shopper in order to remain supportive.

The DSGS also relies heavily on social networks to stay connected to those whom they wish to support. They also rely on e-Retailers, UPS and other gift delivery services to facilitate the need to share these gifts and build memorable interactions.

The total percentage of the US gift sales industry included in the DSGS niche is not measured, but there are indications that it is large and getting bigger. We know that Sarah’s age and family demographic group is joining the social networks in ever increasing numbers. And we also know that American family units are dispersing in larger numbers with each passing day. But the DSGS niche is so much more than just an older age group. Gen X and Y both are experiencing the same problems of gift support from a distance. They have their parents, grand parents, siblings and college friends who are dispersing at an ever increasing rate.

There should be no argument that the growth in social networks and online retail sales is partially a result of the needs of the DSGS niche. Online activities that can combine gift giving support with a uniting conversation can flourish as they serve the Distance Separated Gift Shoppers.

What other resources are the DSGS’ers looking for?

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PartyWeDo
The AlbinoPhant Creators
Your Party 2.0 Specialists

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The conversation and measurements concerning retailing on Facebook and other social networks continues. There seems to a bubbling desire to discover a way to introduce real-world retailing into these virtual words.

So far most of the measurement tools have relied on popularity measurements, such as which brands can garner the most fans. Most marketers realize that fan count and real product consumption are miles apart when converting eyeballs into cash.

Heather Dougherty, Director of Research at Hitwise, posted some interesting details on the amount of traffic that social media sources have sent to major retail websites. It seems that there is a growing number of social networker’s who want to at least continue to engage with brands from Facebook and simular forums.

Heather suggests, “one common question regarding the relationship between social networks and retailers is how to be sure that the traffic coming from social networks is not just a by-product of their popularity.”

Adding to this concern is the reality that retailers have not yet found a way to actually retail on the pages of Facebook. This Hitwise study only demonstrates how well social networks have been in pointing users toward the brand’s online or offline presence.

Eric Eldon added his commentary on the Hitwise report when he said:…”most retailers are still experimenting with a variety of approaches to building a presence inside Facebook.” He also suggested that some retailers are beginning to find ways to directly sell goods to users.

It is hard to measure the effects on retailing from these networks, but most agree that the actual sale of product within these networks has fallen short of what it could be. Brand popularity pages have become nothing more than another type of advertising presentation to the many Facebook users.

Retailers will need to do more than use the networks to make themselves more popular in order to build revenue from Facebook. They must find ways to engage users in the purchasing process with a group of their friends. Then Facebook could be used to organize great shopping experiences and then mimic the fun of sharing a purchase with others.

Once a retailer develops the group shopping experience, they will have a selling machine like none other, rather than a virtual extension of a popularity contest.

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PartyWeDo
The AlbinoPhant Creators
Your Party 2.0 Specialists

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There are two ways to look at an unpaved road into the forest…

1. The road is impassable and should be abandoned for another route.

2. The road needs some improvements before it can be truly useful.

Impassable roads, un-traversed mountains and un-crossable rivers are ether dead ends or hidden opportunities, depending upon your perspective.

A recently released study suggests that retailers are finding the road through the forest of social media a little rougher than first expected. This report was highlighted in some of the Facebook blogs as a potential roadblock to the success of retail in this space.

Some are suggesting that retailers should just stick to using Facebook as an advertising tool and abandon the construction of a retail sales conduit in this friend network…

It is hard to argue with the fact that over 90% of the major retailers have started down the social media road with fan pages, only to see very low response.

But retailers have always looked for a new route for product distribution, and have been known to pioneer some dramatic new crossings in the past. Just consider the transformations in retailing from the past… Remember the move from catalog shopping to the department store, or the corner store to the mall to Amazon.

The report highlights the low return from retailing in Facebook, which might have many considering this social road impassable for retail sales. We suggest that the road just needs some improvements before it will allow for a smooth transit-way for retail goods. The trail needs the right pavement applied to make social retailing a smoother process. It will be worth the effort in the long run.

The social networks roll on the wheels of conversation and any route through this forest of friends must facilitate and add to the banter, in order to be successful.

A quick look at Main Street in Disneyland gives us a hint as to how we could pave the retail road on Facebook and other social properties. This adventure park draws millions of visitors for a day of fantasy and fun. Many attended on special occasions, like birthdays, weddings and holidays. Most come as families. The Disneyland experience is very much a conversation creator, built on an atmosphere of fun for all ages.

Entering the park, visitors are greeted by the famous Main Street. But you will notice immediately that retailing has been integrated into the fun at every turn….

How did they interject selling into the magic? First, they knew that people would come on special occasions and that these occasions usually revolve around some type of gift giving. Second, they knew that if they sold gifts that would add to the conversation they would ease the sales process and breakdown many retail roadblocks. Think of how many people bring back the purchases of Disneyland and share them in conversation with others.

Wise retailers who want to traverse Facebook will find ways to build small mimics of an adventure park, where family and friends can come on special occasions and buy gifts for one another and enjoy a conversation.

The road into the social forest may be undeveloped today, but the time will come that Facebook will play host to many great adventures in retailing. Pioneering retailers are currently paving the roadway for the next great main street on social properties…

PartyWeDo NOTE: Just as I was about to hit Publish on this post, I got a notification of a comment that Dave McClure made on a plane trip to NYC: “ASSERTION #2: “The default startup business model for 2010 & beyond will be subscriptions and transactions (e-commerce, digital goods).” It seems that Mr. McClure also sees retail sales as a way to pave the road for social media monetization.

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PartyWeDo
The AlbinoPhant Creators
Your Party 2.0 Specialists

Steps to Hosting a Successful Online White Elephant Party…

white elephant party hosting tips –

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King Thibaw
The Royal Thibaw, Golden-footed Lord of the White Elephant, Master of a Thousand Gold Umbrellas, Owner of the Royal Peacocks, Lord of the Sea and of the World, Whose face is like the Sun.

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InsideFacebook announced today that Facebook is opening a data-center in our great state!

What started on a small server just a few years ago has grown to become a world wide phenomenon. We are happy to be an applications that benefits from the network that Facebook has built. We appreciate the fact that Facebook is so open to our work…

Now Prineville’s economy will benefit from the growth in this industry.

We welcome them to our state (we also moved from California 6 years ago) and hope that Facebook will continue to grow and prosper.

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Two powerful families are married for user convenience and for future opportunity.

So far, the wedding has been kept hush hush and is flying under the radar… So don’t expect this to make the front pages of the tabloids anytime soon.

It seems the social media superstar Facebook, with its huge entourage of friends has been secretively matched to Amazon’s world leading product inventory, by a party application developer.

Like most weddings, the focus is on a party, and in this case the party is the center of attention. Gifts for the party are to come from the Amazon side of the isle and the guest list will be handled by Facebook.

E-commerce insiders understand that the Facebook family is a very close-knit bunch and that an arraigned marriage will benefit both sides in this case. Massive gift sales is on the mind of the Amazon group and greater support and conversation is what Facebook members are counting on from this union.

Social media followers feel that the long-term success of this marriage will likely be a result of the party atmosphere in which the two have found common ground. Sociologists have long known that couples who communicate well and share with one another have a better than average chance to find success.

The fact that Amazon will shower the Facebook family with gifts should keep both parties happy, particularly when the Facebook side can see the profits that can be generated through real gift giving. Of course, Amazon is happy to offer gifts to a partner who has so many family members pre-disposed to share with each other.

This marriage is expected to produce several great party applications that will benefit the entire family during birthdays, weddings, baby births and many holidays. The next generation of Facebook applications will benefit from the superior DNA of Amazon and Facebook to build a great experience for the users of social networks.

Look for more details of this story as they develop….

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PartyWeDo
The AlbinoPhant Creators
Your Party 2.0 Specialists

There are studies that suggest that older Americans, 55-plus, are less reliant on social networks than most demographic groups. This seems to fly in the face of recent reports that Facebook is rapidly expanding its 50-plus user rolls.

Baby boomers are joining the social networks, but are they being social? There are some indications that they only join for specific reasons, and they don’t participate like younger demographics. Does this mean that social networks fail the Boomer?

No, it just means that Boomers need the networks for different reasons, and they may not have been invited to the right party just yet.

This age group sees Facebook and Skype as tools and not entertainment.. And if the tool doesn’t connect them generationally and historically it is the wrong party.

Generational, in that they want connection to their parents, children and grandchildren. And historically so that they can reach out to people from their past and get “caught up”.

Penny Ireland’s family is so scattered around the world, that Facebook has become the family’s No. 1 way to communicate.

Margaret Brooks, of Idaho Falls, Idaho, joined the site because there was no other place for her to see her grandson’s artwork.

Sarah and I relate to both Penny’s and Margaret’s needs.  We have raised our family, but don’t want to miss out on the great things that are happening in their lives, right now. Boomers want to be able to continue to provide support, even when distance works against their efforts. Facebook provides a place to use the social networking tools in an efficient and pointed way.

Facebook has been growing particularly rapidly amongst people over 45 in the US, with growth of over 165% amongst both men and women 45-54.

And all of these Boomers are beginning to become Seniors Citizens, reaching sixty years old. As the social networks build the tools that older Americans need, they will be inviting even more people into the party. And reaching the Boomers today, with the right social components, will deliver marketers with a well trained, well financed group of customers for many years to come.

Cynthia Edwards, posted the following in an email marketing blog;  “Seniors are a rapidly growing segment in our society, and one of great potential value to marketers. According to the US Census Bureau, in the next five years alone, the population of those over 65 will increase by 40%, from 36.8 million to 51.7 million.  In the U.S., that could add up to 88.5 million people over 65, comprising 20% of the population”.

Facebook does have more active users in the younger demographics, but some of the tools that are associated with this network giant are the perfect fit for the boomers and seniors of tomorrow.

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PartyWeDo
The AlbinoPhant Creators
Your Party 2.0 Specialists

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The success of Facebook is rooted in the conversational flow between friends and family. This network has become a mimic of many of our traditional human interactions and is now exploring ideas beyond just talk.

There is a movement afoot to move some commercialization onto this conversational superhighway, and the jury is still out whether it will add to the experience or create a road littered with potholes.

In a recent discussion on the merits of e-commerce stores on the Facebook highway, Shiv Singh, vice president and global social media lead at Razorfish. suggested that, “e-commerce activities should be presented in ways that don’t intrude on the conversational flow of Facebook.”

We agree with Mr. Singh that a social superhighway cluttered with billboards and shopping malls will disrupt the flow. But we believe there is value in providing e-commerce real estate when it enhances the personal interaction and makes the conversation grow.

The discussion focused on a coffee merchandiser who is moving an e-commerce operation onto a Facebook page. Michael Straus, spokesman for the coffee company suggested that they were “looking to integrate its social media strategy with e-commerce”.

It could be augured that coffee shops are a regular landmark along any highway and are also recognized conversational hubs. So coffee shops might be a good idea for Facebook users.

But what other retail shops would make the social road more enjoyable?

Another thought leader was concerned with the idea of selling stuff on Facebook. Mike Lazerow, CEO of Buddy Media said, “People aren’t using Facebook right now to buy stuff”. “They use it to talk to friends, see pictures, play games, learn about new products, connect with companies and products that they love.” He suggested that this mindset might eventually change as shopping opportunities become part of the typical Facebook experience.

Direct selling on Facebook is very new, but so far, most agree that the key is to make the activity a part of the conversational format that attracts users to the experience.

We support Mr. Lazerow’s contention that friends, pictures and games are the conversational resources that currently fuel the Facebook engine. We understand that any e-commerce application should be a good fit for the road, or should stay off the highway.

We suggest that gift shops are a good fit and will be common on the social networks in the near future. These e-commerce stores will be stocked games and group activities that will allow real gifts to become a part of the conversation and the support among family and friends.

In that day, the Facebook experience will include established online gift merchants who support the birthdays, weddings, baby births and holidays that are shared by every conversationalist on the road.

The social highways will be full of large motor homes filled with groups enjoying a fun game and some real gifts that they picked up at the roadside gift store.

How do you see e-commerce merging onto Facebook?

Thanks to enchantedhighway.net for the image. (you should visit this place and see the huge metal sculptures)

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PartyWeDo
The AlbinoPhant Creators
Your Party 2.0 Specialists

This is COOL…

Gary Hayes has created this dynamic chart that demonstrates the real-time growth in social media. Pay attention to the ratio of virtual product sales and the REAL gift sales on Facebook. Then ask yourself 2 questions…

1. Is there room for growth in selling real gifts in social media?
2. Who is moving the real gift sales in social media forward, besides Facebook?

We watched the chart for 60 seconds and determined that over $10,000 was spent on virtual goods in the same time that less than $140 was spent on real gifts in Facebook.

We realize that this is an apples to pears comparison, because virtual goods encompasses all social media channels and Facebook gifts only measures a portion of a small service on one social network. And the chart does not track all of the real products sold by affiliate links from social sites. But it does show an opportunity for growth, especially when you consider that social media is a virtual mimic of real human interaction and that virtual purchasing mimics real-life  purchases.

Here is the thing you might want to consider… If people gather together in these internet social spaces and spend money on virtual things for each other, why wouldn’t they do the same thing for real gifts?

Think about this comparison:

Let’s assume that you sell me a virtual gift at $1 dollar, as a birthday wish for cousin Earl…
The result: You, Earl and I are all somewhat happy with this small gesture.

Now assume that you could sell me a $25 real gift at a 12.5% profit.
The result: Earl gets something real that he can enjoy beyond his computer screen.  I get the satisfaction that comes with providing some true support to Earl.  And you get $3.12 for facilitating the gift-giving.

Now all we need to do is find a fun way to pass out the real gifts in the social networks…. Any ideas?

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PartyWeDo
The AlbinoPhant Creators
Your Party 2.0 Specialists