Which Network Works? Finding the social media network that's best for your business

Posted by Clayton Smith on December 6, 2011

According to research company Experian, approximately 91% of online American adults log on to a social network every single month. That percentage represents about 129 million Americans. That’s 129 million potential consumers your company has the ability to reach on at least a monthly basis.

Goodness. That’s a lot of people.

And that’s just in America, and just people aged 18 and over. If you’re a company with the ability to ship your product all over the world, that number rockets upward. And if your product is targeted toward teenagers as well as adults, bump that number up even higher. Frankly, it’s getting to the point where very few companies can afford to ignore the social media revolution.

You may or may not be surprised to learn that there are thousands upon thousands of social networks out there. Sure, we’re all pretty familiar with Facebook and Twitter. But how many of you are on hi5? Or Disaspora*? How about Heello? No? Then what about Bebo? Maybe Orkut?

The number of networks is growing at an almost daily rate, which is in direct opposition to the growth of resources in many companies’ marketing departments. While social networking options are seemingly infinite, marketers have extremely finite resources at their disposal. We can’t be on every social network all the time, so instead we have to strategically select which channels to use for our digital marketing messages. But which social networks are right for your company?

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Topics: Business, business, discount, facebook, Foursquare, google+, google plus, gremlin, gremln, linkedin, Marketing, myspace, recommendation, ROI, social media, twitter

Social Discounts - 5 great ways to discount using social media

Posted by Clayton Smith on August 31, 2011

When it comes to selling your product, “discount” can be a tricky word. On one hand, discounts can be great for luring new customers or bringing back old ones, and they can also help move old inventory. But on the other hand, discounts often attract customers who are more price sensitive and less brand loyal. Discount purchasers are less likely to come back for more.

The reason is simple. Although you are giving buyers a reason to purchase (my wife would gladly trade my left arm for 40% off a yoga mat), you’re not giving them any reason to be charmed. There’s no interaction, no engagement, no reason for someone to think, “Wow, this company really is something.”

But all is not lost! There’s still room for the discount in our highly connected, prove-that-you-deserve-my-loyalty-or-I’ll-go-online-and-find-someone-who-is world. Enter the social discount.

Part traditional discount, part social networking, the social discount allows you to attract price sensitive customers and strengthen your company’s brand. The next time you feel the urge to blanket the town with 10% off coupons, consider using one of these social discounting methods instead.

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Topics: Business, business, discount, facebook, gremlin, gremln, Groupon, Marketing, money, ROI, SCVNGR, social media, tips, twitter

The Daily Deal - Are coupon sites a help or hindrance for social media marketers?

Posted by Clayton Smith on June 24, 2011

In the interest of proving that we’re genuinely interested in providing social media education even if it doesn’t involve Gremln, I thought I’d spend some time addressing something that has absolutely swarmed the social media space over the last couple of years, the phenomenon of The Daily Deal. Led with considerable force by Groupon, the daily deal business model is now being used by literally hundreds of companies, including LivingSocial, Google, The New York Times, and Amazon. And why not? It’s a relatively cheap model to implement, the deal sites’ profit margins are high, and consumers love it. But is the daily discount a boon or a bane for your business?

We all know the basic idea behind daily deal sites: A company leverages a deal site’s popularity and reach to offer a coupon for a huge discount on its products or services for one day, and the deal site takes a percentage of the revenue made on the purchase of that coupon.

The group discount wagon may be ripe for the jumping, if it works with your business model. In an endeavor to help you decide if The Daily Deal is right for you, here are some pros and cons to consider:

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Topics: Business, business, discount, gremlin, gremln, Groupon, Marketing, ROI, social media

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