Category Archives: Business

Teen TV Star Launches Talent Agency with $1 Million

Many young people are chasing the dream of becoming social media only to find that the business side of social media has become very competitive. Worse still, these aspiring web personalities have trouble finding mentors. If only there were an experienced, young social media star to provide some guidance to these young people. As it turns out, there is.

According to TechCrunch, teen star Jake Paul (best known for the TV show “Bizaardvark”) plans to transform himself into a social media titan. His new company, TeamDom, has raised $1 million to fund its talent management business. Paul plans to leverage his millions of social network followers and his experience as an influencer to help minor social media stars become major social media stars. He has already had some success doing just that.

Paul, undeniably, knows what it takes to create a social media following, but does he have what it takes to run a successful business? That remains to be seen. Even very popular social media stars have found it difficult to monetize their success. It seems challenging, therefore, for a business to monetize the monetization of social media stars.

That does not mean that it cannot be done, though. A few years ago, it would have seemed inconceivable for a teenager to become a TV star based on his social media videos, but that is exactly what Paul has done. His originality could translate into success for TeamDom.

It is also a safe bet that small-time social media stars will flock to the new start-up. They will likely see in TeamDom a group of mentors who are peers and who understand the ins and outs of gathering a social media following. If the demand for TeamDom’s services are high enough, the company could be a success.

 

Fake News Stories Impact Brands in Social Media

The fake news phenomenon was first discussed during the surprising election of Donald Trump as President of the United States. Now that we are in the early days of the Trump administration, the issue of fake news is boiling over and starting to inflict collateral damage on businesses that engage in social media marketing.

 

According to a January survey conducted by Ipsos Public Affairs on behalf of BuzzFeed, the majority of Americans no longer trust the news stories they see in their social media news feeds. Facebook is the second most popular source of news stories for most Americans; only broadcast television is more popular by just one percentage point.

 

Credibility is an important aspect of a solid social media strategy; marketers are worried that the fake news scandal that rocked the 2016 presidential election could erode trust between established brands and the public. Brand managers should remember that the current political climate is too risky.

 

The digital marketing landscape has been tarnished by fake news stories. Even though American law enforcement officials are investigating these incidents, social media strategists believe that the damage will have lasting negative consequences. Brand managers should steer clear from discussing fake news stories with their social media followers for the time being. Unfortunately, this issue is very divisive from a political point of view; therefore, online brands should avoid any mention of this sociopolitical phenomenon over the next few months.

 

Social Media Comments Cause a “Brew-ha-ha” in California

The owner of a craft brewery in the Golden State has learned some very hard lessons about the role of social media in modern business.

 

According to a January report broadcast by CBS13, a Sacramento television news station, the 12 Rounds Brewing Company is facing a boycott by local craft beer lovers who do not approve of Facebook updates posted by owner David Murphy, who appears to be a supporter of U.S. President Donald Trump.

 

Murphy started the “brew-ha-ha” with a post that was not well received among those who follow his brewery on Facebook. Murphy’s post slammed the people who participated in the Women’s March against Trump, a protest that largely overshadowed the Presidential Inauguration. In his social media update, Murphy referred to protesters as “garbage.”

 

It did not take long for Murphy to realize that he incited the fury of the social media machine. Within hours, Facebook followers of this East Sacramento Brewery started organizing a boycott; the initial action was followed by hundreds of negative reviews on Yelp.

 

Business owners these days must exercise caution when expressing religious and political positions on their social media channels, particularly on Facebook.

 

Murphy felt the backlash and did exactly what a business owner should do in this situation. He posted heartfelt apologies on Facebook and Yelp. Some of his most loyal customers came to his defense, explaining that he is entitled to make mistakes. In these cases, the damage does not have to be permanent and business owners can make amends with their customers.

 

Facebook Messenger Begins Testing For Business Ads

Facebook is well known for keeping in touch with family and friends and for sharing funny videos. The test to integrate ads into Facebook’s Messenger has begun. The company has said that it will launch its characteristics as a small test in Thailand and Australia, which will for the first time allow businesses to have their ads placed on the Messenger home screen. This style of advertising entails a large thumbnail image followed by a text and a link of the same. These ads will appear below recent conversations.

 

The link will be able to direct users on taking different actions like clicking to learn more about the service or the business in question. This action is similar to the way that Facebook business pages today can directs users to start a chat.

 

Currently, the ads sit on a huge space on the home screen, which is below your favorites and up above the section that shows which friends are online. This feature about the Messenger makes it less user-friendly since you will have to scroll way past the large ads which you may not be interested in.

 

Facebook has, however, promised that the ads will not appear in conversations not unless the user clicks on the ad itself or chooses to start a chat with the brand being advertised. This will make it more convenient for its users.

 

Generally, businesses have been waiting for this moment for a long time when they can use the Messenger platform to reach to their customers and increase their sales easily, gain brand awareness and increase interaction with customers. It is clearly an exciting feature for them as it will lead to growth for their respective businesses.

Be A Good Social Media Listener

Social media is about more than just musing on the day’s events or staying in touch with friends and family. Social media is also about marketing. Facebook, Twitter, and other social media platforms open portals for effectively engaging with audiences who could turn out to be consumers.

 

Business-minded people are known for their ability to think things through. Yet, many entrepreneurs simply create a presence on social media that never really maximizes its potential. Posting material online creates a number of interactive advertisements. Presence does not automatically equate with impact. People looking over the content on a social media page might not really be motivated to react. A disconnect between promotional material and consumer won’t set the stage for success. Social listening, however, just might.

 

Social listening refers to reading what people are writing and posting on a social media page. The insights delivered by what people reveal in posts are worth a lot. Those running social media sites become far too focused on their own work they never review the responses being given. Even if they do review what others are saying, they do not fully intake the commentary. Such an oversight would be a disastrous result for any business.

 

Businesses will invest quite a bit of money into producing generic surveys and questionnaires. The value of these market research tools is well-established. Even though social media commentary provides much more insight into the consumer’s mind, the commentary is not always thoroughly reviewed.

 

When customers are speaking, listen. They have much to tell.

 

Facebook Ventures Into The Business Of Streaming Content

Streaming media is the wave of the future. Broadcast and cable television may both end up on the proverbial ropes in only a few short years. Facebook sees the direction things are going, which is why the social media powerhouse is planning on purchasing live and pre-recorded programming for an exclusive video feed. Facebook wants to tap into the success found in YouTube and NetFlix’s company coffers.

 

Facebook has a massive collection of members. Minimal video capabilities are available on the Facebook platform. Expanding the video content would be really easy. Why Facebook had not already launched such a venture is a mystery. The social media company is not really late to the game. The networks and cable channels, however, seem to have gotten a late jump with streaming content. Even though certain channels do stream content, the channels are not primarily known for such programming distribution. As a result, the maximum levels of audiences are not gained.

 

Facebook already has a tremendous audience. A mere announcement in the news feeds of the social network would capture the attention of millions within hours. Monetizing the video feed wouldn’t be difficult al all. Facebook is not exactly going to find attracting advertisers to the programming feeds to be difficult.

 

Audiences are slowly drifting away from traditional cable and broadcast television for a simple reason. A more convenient alternative exists. On-demand streaming is much more easily accessible. The audio and video quality on stream feeds is outstanding. In addition to seeing content on Facebook, look for video programming to appear on various startup websites and social media communities in the coming years. Apple is one major company to announce plans to release original programming on iTunes. Really, the march to a new platform for entertainment and informational programming is coming.

 

Financial Advisors are Creating Business Opportunities With Social Media

In 2016, Putnam Investments conducted a survey of 1,000 financial advisors about their sentiments on the use of social media. The survey revealed that 85 percent of financial advisors have a social media presence, and that 80 percent of them found new clients in 2016 through this communications and marketing channel.

 

The Putnam survey makes it clear to financial advisors that they should be using social media in 2017. This is not an option; it is a must since prospective clients are using social media, and many existing clients would probably enjoy getting communications from their financial advisors in this regard.

 

Before financial advisors set out to do business in social media, they should keep in mind that their line of work requires them to be very compliant with certain codes of rules, regulations and ethics. The first step is to become familiar with social media policies set forth by their employers. Once these policies are known and understood, financial advisors must define their target audiences. It is worth mentioning that advisors who specialize in specific audiences such as IT professionals or affluent families tend to do better.

 

It is also important for financial advisors to define a personal brand that will appeal to prospective and existing clients. This personal brand can be crafted through hobbies, activities and interests; however, topics related to politics and religion should be largely avoided.

 

Marketing on multiple social networks is not necessary. LinkedIn is mandatory for financial advisors; other networks should be added with the audience in mind. Twitter, for example, is a good choice for IT professionals while Instagram is better for those who work in the fashion, culinary and hospitality industries.

 

Finally, financial advisors should not use social media as a very large echo chamber. If they follow others, they must engage with them with active dialogue.

 

Why Businesses are Flocking to Social Media

An estimated 81% of small and medium-sized companies are using social media to improve sales and marketing. The world of social media is more than chatting with friends, sharing with family and playing colorful apps. Businesses utilize social media to their immediate advantage because it helps to bring about an increase in client flow (source). Paying for sponsored or paid posts will ensure your company’s advertisements are on their front page. Social media sites such as Facebook and Twitter have created a platform where companies can come to flourish over time.

 

For business owners, it is imperative to join forces with social media to increase marketing potential. In this day and age, owning a website is virtually useless if you don’t have a social media page to back you up. A Facebook or Twitter page engages your clientele, allowing them to provide you with valuable feedback in the form of reviews, comments and messages. This constructive feedback can help transform and improve your company to fit the needs of your customers.

 

Creating a business page on some of the more popular social media websites is often free, unless you plan on doing some advertising. These sites charge a relatively substantial fee if you wish to publicize your account on their main page. However, considering millions of people utilize social media on a daily basis, the price you pay for front-page advertising can be highly advantageous. Keeping your page updated regularly is vital to the overall success and longevity of your position on sites like Facebook and Twitter. If your page is not kept updated, this causes it to rank lower on search engine results, preventing clients from finding you. Keeping the page up-to-date also ensures better customer support, as you will be able to answer inquiries as soon as you receive them.

 

Social Media Campaigns That Made Tons Of Money

The Coca Cola Remove Labels was a social media campaign that was spread around Youtube in 2015 in the UAE. The commercial featured a heavy metal rock star, a tattooed scientist and other interesting characters dining at a dinner table. The message of the commercial was to label food products, but not people.

 

The Scoot social matrix was a social media campaign by Singapore Airlines on Youtube and Facebook. They researched the demographics of different types of travelers in Australia and made videos advertising certain niche destinations. The campaign was a success and their flight sales were boosted by over 157 percent.

 

The Toy Testers campaign was promoted by Tesco in the United Kingdom. They promoted their toy selection in their videos during the holiday season. The series of videos successfully raised their toy sales during the holiday season.

 

The UK Bank made multiple videos that were spread via social media. The videos explained the various financial products that the bank had to offer and why they were a better choice over the competition. The bank boosted their overall sales for that year.

 

The UAE financial institution, Emirates NBD, made Facebook campaigns promoting saving for newly married couples. They spread image manipulation applications that showed what couples may look like in 30 years. The company had a significant increase in sales after their campaign.

 

Pepsi launched the Longthroat campaign in Nigeria through social media sites. The campaign took the term longthroat, which means the longing for success in the country, and related it to their new long bottle shape. The campaign boosted sales by more than 60 percent.

Social Media No-Nos For Business Owners

These days, most people are using social media to promote their business. While social media can help you boost your business, you may be doing things that are hurting your business. One of the biggest mistakes that people make is setting up a page and not putting anything on it.

 

Inconsistent posting is another mistake that business owners make. It will be easier for your audience to find and follow you if you have a regular posting schedule. Posting another user’s content without permission is something else that you should not do. Make sure that you respond to comments in a timely manner. You show your customers that their input matters when you respond to them.

 

You want to publish more than just your promotions and sales. It is estimated that 57.5 percent of people are turned off by promotions on social media. Your social media page should focus on building the trust of your customers.

 

You should not treat your business page the same way that you treat your personal page. Buying fake followers is another bad idea. You also want to avoid using too many hashtags. If the hashtags are irrelevant, then this can also work against you. Additionally, you should not auto direct-message your followers on Twitter. Most people do not like to be spammed. Send someone a personal note if you want to thank them.