Fewer than 1 percent of website visits come directly from a social media URL according to research just released by customer satisfaction analytics experts ForeSee Results.
The company surveyed 300,000 consumers on more than 180 websites across a dozen private and public sector industries. The referring social media sites covered were not just the usual suspects like Facebook and Twitter, but over 40 sites including Flickr, Foursquare, Scribd, Stumbleupon, Meetup and Youtube.
It’s not all bad news for social media marketeers. 18 percent of site visitors (averaged across surveyed websites) report being influenced by social media to visit a website. However, there was considerable variation in the results for different companies.
The social media budgets of marketers is constantly increasing as the survey data to the right shows. Forsee Results’ research showed that the resources companies put into social media and the results they receive vary wildly. Spending more money does not automatically lead to higher numbers of visits to websites, brand awareness or sales.
Promotional emails are also sometimes neglected in favor of the more glamorous social media, in spite of the fact that such emails influence 32 percent of purchases.
Companies themselves seem a bit confused about their objectives when it comes to social media. Internet Retailer Magazine surveyed 400 U.S. companies (19 percent of them retailers) in December 2009 and January 2010. It found that 74 percent of companies wanted social media to drive traffic to their websites, while only 56 percent wanted it to increase sales. Shouldn’t it be the other way around?
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There has been a lot of talk as to whether or not social media is the front runner in another inflated internet bubble waiting to burst, leaving users “virtually” friendless and clueless. Will everyone be out of the loop, with no one keeping track of daily deals, happenings or status updates? Warren Buffet confirmed this fear stating that although it’s not as big as the dot com bubble, social media is not long term by any means. However, industry trends and buyer behaviors are stating otherwise.
Facebook has proven beneficial to marketing efforts for B2C companies, but B2B marketing has struggled to find its footing on the platform. That’s where LinkedIn has emerged as the go-to medium for B2B marketers.
A recent study done by BtoB Magazine, showed that when asked “Which of the following social media methods does your company currently use for your B2B marketing (i.e. not personal use)” 72% of B2B marketers said LinkedIn. After reaching more than 100 million users, LinkedIn has solidified its niche as Facebook in a business suit, and B2B companies have taken notice.
The 2011 State of Inbound Marketing (an annual report done by HubSpot, an inbound marketing software company) found that 61% of B2B marketers who participated in the survey acquired a customer through LinkedIn. The targeted and measurable aspect of inbound marketing is what makes it so attractive to smart business owners who are tired of spending money on marketing with no proof that it’s working. Former Chief Marketing Officer of McDonald’s, M. Lawrence Light said, “It no longer makes economic sense to send an advertising message to the many, in hopes of persuading the few.”
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bench craft company
Giants ace Tim Lincecum is giving $25,000 to assist the longtime San Francisco fan who was attacked outside Dodger Stadium last month.
bench craft companyThe networks of NBC Universal, including CNBC, MSNBC and NBC News, are all lining up green-themed programming for the 2011 installment of the company's Green is Universal “Earth Week” April 17-24. On “Today” Kathie Lee Gifford and Hoda ...
bench craft companyGame Informer has heard from multiple sources that Nintendo will unveil its new home console at this year's E3 – or maybe even sooner.
bench craft companyAs rumors of a later-than-usual iPhone launch for 2011 persist, a new report reveals that the notoriously secretive Apple is being even more careful than usual when dealing with overseas suppliers.
"Apple is keeping its iPhone 5 cards extra close to the vest on this launch to avoid a falloff in iPhone 4 demand ahead of a refresh, especially given the February launch of the CDMA iPhone 4 with Verizon," Analyst Brian White with Ticonderoga Securities said in a note to investors on Friday. He believes that the iPhone 5 could still launch in June or July, as previous models have.
White noted that various rumors have pointed toward a launch later than June this year for the fifth-generation iPhone. One report from March alleged that Apple has not even begun ordering components for the anticipated "iPhone 5," and the device is slated to arrive in the company's 2012 fiscal year, which begins in late September.
And a third report alleged that Apple is working on a major revamp of iOS, its mobile operating system, for version 5.0. New features like cloud-based storage of music, photos and video are rumored to arrive in the update this fall, likely alongside new iPhone hardware.
But despite all of those reports, White isn't yet convinced that the iPhone 5 will be introduced later than its typical June or July timeframe.
"Although we do not have a smoking gun that definitively rules out a delayed autumn unveiling or one that supports a launch this summer, there is a pattern of activity in motion with the supply chain that makes us question a delayed launch," he said.
White also cited sources who indicated that iPad sales could reach up to 40 million units in calendar year 2011. And supply chain sources also indicated that disruption from the earthquake and tsunami disaster in Japan will actually end up benefitting Apple, as suppliers will "rush to support Apple at the expense of competitors."
The analyst already revealed earlier this week that Apple has been offering upfront cash payments to component suppliers in order to secure components in the wake of the disaster in Japan. Apple has apparently also been using a "three cover guarantee," referring to capacity, stock and price, to block out competitors and prevent them from building ample supply of devices.
We’ve been hearing all kinds of Chatter that the next version of Final Cut Pro will debut in Vegas at NAB next week. Thing is, we hear this every year and Apple hasn’t really done a NAB properly in awhile. That’s OK, we’ll take that we can get.
Rumors are flying that Apple will be using the Vegas Supermeet to announce the next version of Final Cut Pro. Supposedly, Apple will be taking over the entire event for their announcement, cancelling all other sponsors, including AJA, Avid, Canon, BlackMagic, Autodesk and others, who were set to give presentations.
Philip Bloom just confirmed with me that Canon has canceled his appearance at the Supermeet. Canon was told last night that Apple has demanded ALL “lecturn” or stage time exclusively. Some sponsors who were not using presenters may continue to sponsor the Vegas event, but none of them will be presenting on the stage. I can’t imagine any news that would warrant this kind of “take-over” other than to announce and demonstrate the next full version of Final Cut Pro and possibly an entirely newly designed FCS4.
(UPDATE: Avid confirmed that Supermeet (Michael Horton) told them last night that their sponsorship had been cancelled. According to Avid, “Apple doesn’t want anyone to have stage time but them.”)
Who’s up for Vegas?
We heard the first concrete details about Apple’s all new Final Cut Pro coming during Spring this year, and recently some new information has come to light. Final Cut Studio expert Larry Jordan was one of the people at Apple’s meeting, demonstrating the upcoming upgrade to the professional film-making software.
Jordan can’t say much about the upgrade, due to an NDA with Apple, but he did say it is a “jaw-dropper.” Besides the “jaw-dropper” part, the thing we are taking most from his blog post is the fact that Apple allowed him to write it up. It appears that Apple already considers the software public knowledge. Afterall, Apple CEO Steve Jobs did tell a 9to5mac reader to buckle up for it.
Thanks to Charlie Sanchez
- Next Final Cut Pro is a “jawdropper,” Apple considers it public knowledge, and will it drop at NAB? (9to5mac.com)
- Apple says last Xserve orders shipping in April, here’s what’s next for XSAN (9to5mac.com)
- Nasdaq to cut Apple’s weighting in rebalancing (9to5mac.com)
- Feeling the heat, HP and Dell execs lash out at Apple, pray iPad will fail (9to5mac.com)
- Certain MacBook Pro models ‘unavailable’ for reservation at many Apple Stores (9to5mac.com)
- Apple asks Toyota to remove the Scion theme from Cydia (9to5mac.com)
- New Final Cut Pro hits Spring ’11 and it’s the “biggest overhaul yet” (9to5mac.com)
- iOS 5 pushed to the fall: major revamp, cloud-based, WWDC preview? (9to5mac.com)
bench craft companybench craft companyOver the years, entrepreneurs and corporate executives have devised any number of clever ways for getting rich off the working poor, but you'd have to look long and hard to find one more diabolically inventive than the RAL. Say you have a $2,000 tax refund due and you don't want to wait a week or two for the IRS to deposit that money in your bank account. Your tax preparer would be delighted to act as the middleman for a very short-term bank loan—the RAL. You get your check that day or the next, minus various fees and interest charges, and in return sign your pending refund over to the bank. Within 15 days, the IRS wires your refund straight to the lender. It's a safe bet for the banks, but that hasn't stopped them from charging astronomical interest rates. Until this tax year, the IRS was even kind enough to let lenders know when potential borrowers were likely to have their refund garnished because they owed back taxes, say, or were behind on child support.
Hewitt didn't invent the refund anticipation loan. That distinction belongs to Ross Longfield, who dreamed up the idea in 1987 and took it to H&R Block CEO Thomas Bloch. "I'm explaining it," Longfield recalls, "but Tom is sitting there going, 'I don't know; I don't know if people are going to want to do that.'"
Tax-prep shops are as common as fast-food joints in many low-income neighborhoods—there are at least half a dozen on one three-block stretch of South Broadway in Yonkers, N.Y., where these photographs were taken. A few offer reasonably priced accounting, while others charge hundreds of dollars for 20 minutes of work. But Longfield knew. He worked for Beneficial Corp., a subprime lender specializing in small, high-interest loans for customers who needed to finance a new refrigerator or dining-room set. His instincts told him the RAL would be a big hit—as did the polling and focus groups he organized. "Everything we did suggested people would love it—love it to death," he says.
He also knew Beneficial would make a killing if he could convince tax preparers—in exchange for a cut of the proceeds—to peddle this new breed of loan on his employer's behalf. Ultimately, Longfield persuaded H&R Block to sign up. But no one was as smitten as John Hewitt—who understood that people earning $15,000 or $20,000 or $25,000 a year live in a perpetual state of financial turmoil. Hewitt began opening outposts in the inner cities, Rust Belt towns, depressed rural areas—anywhere the misery index was high. "That was the low-hanging fruit," he says. "Going into lower-income areas and delivering refunds quicker was where the opportunity was."
Customers wanting a RAL paid Jackson Hewitt a $24 application fee, a $25 processing fee, and a $2 electronic-filing fee, plus 4 percent of the loan amount. On a $2,000 refund, that meant $131 in charges—equivalent to an annual interest rate of about 170 percent—not to mention the few hundred bucks you might spend for tax preparation. "Essentially, they're charging people triple-digit interest rates to borrow their own money," says Chi Chi Wu, a staff attorney at the National Consumer Law Center.
In 1988, the first year he began offering the loans, Hewitt owned 49 stores in three states. Five years later, he had 878 stores in 37 states. And five years after that, when Cendant Corp.—the conglomerate that owned Avis, Century 21, and Days Inn—bought Jackson Hewitt for $483 million, his earliest backers received a $2 million payout on every $5,000 they'd invested. Today, with 6,000 offices scattered across the country, Jackson Hewitt is more ubiquitous than KFC, and has about as many imitators.
THERE WOULD BE NO refund anticipation loans, of course, without tax refunds. And by extension there would be no RALs without the Earned Income Tax Credit, the federal anti-poverty initiative that served as the mother's milk nourishing the instant-refund boom. Welfare reform was the catalyst for the EITC, which was aimed at putting extra cash in the pockets of low-income parents who worked. What motive does a single mother have to get a job, conservative thinkers asked, if there was scant difference between her monthly take-home pay and a welfare check? It was Richard Nixon who first floated the idea that led to the Earned Income Tax Credit; Ronald Reagan dubbed it "the best pro-family, the best job creation measure to come out of Congress." In 2007, the US Treasury paid out $49 billion to 25 million taxpayers.
In recent weeks we’ve shared articles on social media sites like Twitter, Facebook, LinkedIn and others. Now it’s time to look at how all these tools are changing the way you do business. By the way, we’d like to learn what kind of social media your business is using and why. Be sure to leave a comment below.
Strategy
How to be a social media leader. How to be a social media leader or authority. It’s a question surely on the mind of plenty of small business owners working to learn the vocabulary of the new online media. In the end, it may be easier than it looks. Check these simple tips. Small Business CEO
How to set up a small realization that business blog. Whether practitioners of small business social media nowadays would describe a format as “old school” as blogging as being a part of the social media is uncertain. We certainly consider it to be. In many ways blogging is the cornerstone of a strong online social presence and establishing a blog as the hub of your social media campaign requires learning some basics on establishing a small business blog. Dazzlin Donna
Marketing
How to use social media to build context. Gary Vaynerchuck is arguably one of the most innovative pioneers of the social media marketing approach, but in this interview he argues using the means open to small businesses today isn’t necessarily about the tools, it’s about the context. Find out why. The Rise to the Top
How to grow your social media fan base. Whether it’s Facebook or another comparable site, social media is about being social. To understand why this is harder than it might at first seem, check out this post on growing a social media fan base for your business. Like other online marketing, social media is about content. This post talks about how to use content and other tools to boost your number of fans. Premium SEO Solutions
Operations
How to create Twitter and other social media content. So, we know that using social media and frequently updating with content are the key to an effective social media marketing campaign. But what in the world can you say. As it turns out talking endlessly and pitching endlessly about your business on social media is NOT the answer. Follow this guide to participating effectively in social media WITHOUT being labeled a spammer. What’s your approach? Blog Godown
How bloggers have become much more influential than celebrities. When it comes to influencing purchasing decisions, people are more likely to listen to a blogger than a rock star. That’s according to a recent study suggesting the increased influence social media is having on purchasing decisions. If you haven’t yet considered social media and particularly blogging as part of your marketing campaign, you may want to read more. Fox News
Research
Why social media may not be your best traffic driving tool. A recent study suggests that as a strategy for driving traffic to your Website, social media may not be the best choice. Then again, the study goes on, for brand awareness its effectiveness may be somewhat higher. In the end, it’s important to remember that the tools you use must make sense to your business, says blogger Cynthia Boris. Don’t look to social media as a magic bullet. It’s a useful tool, nothing more. Marketing Pilgrim
How to create a successful social media strategy. Businesses seeking to take advantage of all aspects of the social media need to apply careful planing to their approach. The possibilities for crowdsourcing, studying of online customer conversation and other factors makes innovation easier as well. But with all these possibilities, where should your business begin? A well defined social media strategy is a good first step. 1 to 1 media
How to listen to social media and gain insight about your brand. Someone is talking about your business out there. But what are they saying and is it something you should even be worried about? Monitoring social media for positive and negative comments about your business can be a great strategy for constant innovation. Here’s more about how it works and how you can get involved. InformationWeek
Final Thoughts
Trying to figure out social media. One of the main issues for small businesses today, surprisingly, is not just deciding to implement social media but trying to figure out all of the possible implications. Social media is, after all, more than just a tool. It is a movement as well. The existence of social media is a hard reality and offers opportunities to small business of all kinds. But there are challenges too. Here are some important thoughts. Business 2 Community
bench craft companyGame Informer has heard from multiple sources that Nintendo will unveil its new home console at this year's E3 – or maybe even sooner.
bench craft companyRead our PC news of Candella defends Alien Jihad game.
