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High-Five for Week Ending 4-Jul-2010

HighFive 300x275 High Five for Week Ending 4 Jul 2010

Weekly High Five lists the most interesting, compelling, and/or useful links of each week.

This week’s High Five theme is, “Social Media Grab Bag.”

#5: Government websites get the chop

As part of the UK government’s austerity measures to combat rising debt levels, it announced that it will be shuttering over 600 web sites.  But that’s not the interesting statistic. As Chris Rand puts it, “Sadly, like most public sector projects, the cost of running them is eye-watering.” He cites one example in which a UK government web site cost over $7M to build and received just under 400k visitors at a cost of over $15 per visitor.

Link: BMON

#4: Former Facebook Executive Adam D’Angelo Confirms New Google Social Networking Effort

There has been some Buzz (rimshot) about Google’s next move to combat Facebook’s growing threat in the social search space. This article suggests that Google drastically underestimated Facebook’s potential and never made social networking a company priority – until now.

Link: Inside Facebook

#3: How To Rank #1 In Facebook Search In 60 Seconds For Any Term

My reason for highlighting this article isn’t so much for people to learn how to accomplish this feat, but to understand the implications of the 21st Century Land Grab. Whether or not you intend or a ready to fully engage in social media marketing, it’s important to plant a flag to prevent someone else from claiming your territory.

Link: All Facebook

#2: How This Author Got 674,716 Facebook Fans (Worth, Uh, $92 Million!)

Like the previous article, the most important lessons of this story aren’t the most obvious. While the author and columnist question the true value of a Facebook fan, what struck me was the negative impact that such a throng of the wrong fans can have on your brand. Like accidentally optimizing for the wrong keyword, having a fan page populated by the wrong demographic can be just as damaging.

Link: Advertising Age

#1: Clay Shirky: How cognitive surplus will change the world

There are a trillion hours per year of “spare time” that are currently spent watching television. When you think about social media and wonder aloud, “Where do people find the time?” now you know. Shirky wants to start talking about how we should be using this cognitive surplus.

Link: TED: Ideas worth spreading

Feel free to provide your thoughts and/or contributions…

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In a recent discussion with ISA leaders regarding how to lessen the number of emails it sends members, the topic of Facebook fan pages came up.  The context of this discussion was focused on how ISA could be at least as effective at marketing its publications while reducing the number of emails it sends.  I was asked to explain specifically how a fan page compares with email marketing, and I came up with seven advantages:

1) “Opting In” vs. “Not Opting Out”
People must take an affirmative action to “become a fan,” which says a lot more than “I choose not to opt out.”  From a marketer’s perspective, these become your top shelf, number one, gold plated prospects.  And you treat them that way.

2)  Marketing Upside
When someone becomes a fan, all of their friends see it. This has tremendous marketing “up side.”  When someone doesn’t opt out of emails, nobody knows and there is zero additional up side.

3) Build a Community
Fans can interact with one another on the fan page, providing book reviews, answering questions, talking about their favorites, etc.  This is the very essence of Web 2.0.

4) Analytics
Facebook provides detailed statistics with regard to interactions that occur on fan pages.  This makes is very easy to quantify the value of the page over time.  Typical email marketing solutions provide counts of the number of times a message is read or a link is clicked.  However, Facebook has additional metrics that can measure interactivity and “buzz.”

5) Reach
Fan pages are open to everyone on Facebook (that’s 325 million users) – not just your email database.

6) Demographics
The fastest growing age demographic on Facebook is 35 to 45 year olds.  This is a critical demographic for many organizations.

7) Cost
Fan pages are FREE.  Enough said.

Let me know if I missed something.

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