Social Media Marketing- The 10 Social Media Laws of Facebook

November 3rd, 2009 by admin No comments »
Social Media Marketing  The 10 Social Media Laws of Facebook

Unless you have lived in a cave the last 4 years, you have probably heard of this. It is a rocking hot social networking site that seems to be almost everywhere today. It is on the news. It is on the radio. It is on the minds of millions of folks a day.

It is called “Facebook” and over 175 million people are active on this site.

Ok- I know that you may be asking,” A LAW about facebook?” Yes, 10 of them for marketing and business success in what you do. I am a marketer and have been for 20 years. I built a training and consulting business that does business in over 20 countries, because of social media and the internet. And there are marketing laws that all marketers and business professionals must follow if they are going to have Success in the marketplace online.

It is the same for Facebook.

Lets cover them briefly:

1) The Law of Visibility on Facebook.

You MUST be visible on facebook of you are going to get your message out. You must spend time on facebook and get to know people. You must put yourself together a “facebook blueprint” and work it. How many hours a week are you going to be seen on FB? How many times are you going to befriend someone this week? How many times are you going to upload photos this week? All of these things put you in the ‘Visibility Zone” on facebook, and on the radar as far as people on facebook. Be SEEN and be THERE on a daily basis.

2) The Law of the Powerful Facebook Profile.

Why would people want to get to know you? One of the first things they check out is your facebook profile. What does it say- but better yet- what does it DO? Does it make people curious and want to get to know you? Does it make them think? Does it make them smile? Does it make them see that you have Value for their life and can help change it?

Powerful facebook profiles are NOT based on what is said in your profile- but what it DOES.

Does it direct them to DO something? Does it tell them you are person they MUST know? Or someone that has a nice picture and a nice profile- with no magnetism? Put yourself OUT THERE and tell the world WHY they need you as a friend, and get them to take action towards YOU.

3) The Law of the Facebook WALL.

You MUST use your Wall to market or message. many folks regard their Wall as a communication utility like email. It is not that. You already have a facebook email. The Wall is for you to BUILD- BRICK BY BRICK- MESSAGE BY MESSAGE- NOTE BY NOTE- VIDEO BY VIDEO- your Brand on Facebook. Every time something happens with you- it goes on your Wall. Don’t stare at the wall and make your message the PEAK of the page- and keep yourself out there with the Wall. And answer the messages on your Wall. Thank people for sharing with you their visit or message. This will show up on THEIR wall. This will set you apart from most on facebook. The Wall is simply a BILLBOARD of what you are doing and your friends are doing on Facebook. Use it often and wisely.

4) The Law of Your Facebook Network.

You are part of a local facebook network and you have access to that network to befriend them. I live in Birmingham Michigan, and the network i am a part of is the Detroit network. There are 640,926 people in my network that I could potentially MEET LIVE in a local place and get to know them and connect with them. You have local folks as well. Where do you find your network?

Click on “settings” and then click on “network.” You will find it there. This is a GOLD MINE of people in your local area to CONNECT and Construct new trust bridges that may lead to business down the road.

5) The Law of the Facebook Notifications.

This is an overlooked and rarely talked about utility. Notifications are part of your “facebook email system.” Go to “email” at the top of your Facebook profile page, and then click on “notifications.”This is list of who is thinking about you, talking about you, including you in tags, and generally is pointing to you. This is a GOLD MINE of people that have PROVEN they are behind you and willing to make you a part of their Facebook experience. Pay attention to the facebook notifications. Thank them for their thoughts of you on their Wall and let them know you appreciate it. Include them as well on your tags and other activity on facebook. The notifications are GOLD and is a prospecting Vault of Leads. And make sure you stay CONNECTED to them.

6) The Law of Facebook Link Love.

The Link application on Facebook is a HOT commodity. It allows you to post a link that you like and then sends it out on the news feed that is on your home page. It picks up the image that you want on the link page, and allows it to be a LIVE link. Send out other people’s LINK and givem some LOVE. Do NOT just send out your own links. Let others do that. Find interesting links of others and send them out.

WHY? EXPOSURE for you. You will be given credit for the link. People LOVE link love. If you send out a LOT of other people’s links on facebook, they will start sending out YOUR links. Been there done that.

7) The Law of Facebook Groups.

Join groups. Join a LOT of Groups. Start your OWN groups. The join MORE groups. Why? Here are a few reasons: EXPOSURE. CONNECTION to other Group members. AUTHORITY. Start your own and be a Leader. INCREASE YOUR REACH.Groups extend your reach into Facebook. MULTIPLIED PROSPECTS. There are more people in a group — then on a profile page.

Duh. Build a list in your own group and then you can become an admin and email messages to them. Make them messages of VALUE and interest.

8) The Law of Facebook Events.

Attend events. Attend more Events. And then attend many MORE events. Why? It allows you to leave a message on the events page wall, and create exposure. I attend at least 2 facebook events every week- to learn- and to network. Events can be found on the new Facebook page in the upper right under “Upcoming”-these are the events that are upcoming. There is one unique twist: You have birthdays under the “upcoming” tag- and you can send presents to folks. THIS will get their attention as it shows up on their wall and the news feed as well. Attend as many events as you can. make them worth your while- learn and grow from them. BUT’always leave a RSVP message about attending or not- with an encouraging message. This will show your professionalism, and caring.

Event UP! This will do you well on facebook. Put the term “events” in the search box, and it will find every event that is going on in your network of friends. It is a GOLD MINE of new possibilties of business. Become a master of events!

9) The Law of Facebook Multimedia- Videos and Photos.

People LOVE photos and videos. They are the most looked at and watched pages on facebook. Make some videos and upload them. Upload some photographs. Not only will the be seen on your wall and the facebook news feed, but also will allow you to “tag” others on these. This means that you can pick out people you have befriended and let them know you are thinking of them. And when you tag someone- it shows up on THEIR wall. Not isn’t THAT cool? It is called EXPOSURE!

10) The Law of the Facebook NEWS FEED.

This is the big kahuna of Exposure on facebook. This gets you out to ALL of your friends and creates a massive exposure vehicle that can keep your brand in front and recognized. You also will be many times on the “featured” part of the new news feed on the right. This gives you HUGE exposure. Whatever you do, like change your status, upload a video, write and publish a note, or just comment on another person’s message on the facebook news feed- it SHOWS UP in the news Feed. Be seen- and be seen often if you are trying to brand yourself on facebook.

Yes, you need to establish relationships, and build community. But if you are going to MARKET on facebook-then you need to at least get a guideline of what and how to do it. The 10 Social Media Laws of Facebook hopefully gave you some idea in your social media marketing.

How Yahoo! Walked Away From $44.6 Billion

October 27th, 2009 by admin No comments »
How Yahoo! Walked Away From $44.6 Billion

When we last left Yahoo!, Jerry Yang (CEO) and the rest of the board had just spurned Microsoft’s $44.6 billion takeover bid for the supposedly greener pastures of potential deals with AOL, News Corporation, and/or Google. The rejection of Microsoft’s bid also put the current board on a collision course with Carl Icahn in what looked to be a battle for control of Yahoo!’s board of directors.

Trials and Tribulations

After spending millions to buy 68.7 million shares of Yahoo!, Icahn was set to nominate his own slate of directors for Yahoo’s board at the company’s annual shareholder meeting. Icahn would use Yahoo! shareholders’ fury over the botched Microsoft deal to win votes for his board nominees and take over Yahoo!’s board. Yahoo! made a preemptive strike however and managed to appease Icahn by granting him three seats on Yahoo!’s board of directors in July. But what of the purported deals with AOL, News Corp, and Google?

Well, to date, the AOL and News Corp deals never materialized, at least publicly. However, Google and Yahoo! agreed to a partnership whereby Google would deliver ads on Yahoo!’s network. The kicker in the deal was that Google would pay Yahoo! more than Yahoo! could make with its own ads, meaning Google was essentially buying market share from Yahoo!.

This deal would be investigated by the U.S. Justice Department and opposed by Microsoft and online advertisers, who were arguing that the deal would be anticompetitive and result in higher ad prices. In the end, Google and Yahoo! were unable to appease Justice Department investigators by offering to cap the number of ads that would be displayed on Yahoo!’s network and Google walked away from the deal rather than fight a lengthy legal battle.

Just before Google walked away from the deal, Yahoo! reported 3rd quarter earnings. Operating income decreased 53% and revenues were virtually flat compared to the same quarter in 2007. In addition, Yahoo! announced it was laying off 1,500 employees as part of its efforts to cut costs. All told, the Microsoft bid, Icahn ordeal, and proposed Google partnership cost Yahoo! $73 million in fees for outside advisors according to a filing with the SEC.

In the wake of this double-whammy, Yahoo’s stock tumbled to around $10 per share from its 52-week high of $30.25, which it reached when Microsoft was attempting to acquire the company. Yahoo’s share of the search market also continued to decline, falling to 20% in September compared to 22.9% a year ago, according to comScore. What is Yahoo! to do? In a word, grovel.

“To this day, I believe the best thing for Microsoft to do is to buy Yahoo,” Yang said at the Web 2.0 summit in San Francisco, the Associated Press reports.

To which Microsoft CEO Steve Ballmer replied, “We made an offer, we made another offer, and it was clear that Yahoo didn’t want to sell the business to us and we moved on. We are not interested in going back and re-looking at an acquisition. I don’t know why they would be either, frankly. They turned us down at $33 a share.”

Could Ballmer be using his public comments to further drive down the value of Yahoo!’s stock before making another bid? Or is he stating his actual beliefs on the matter and only interested in “some kind of partnership around search?” Only time will tell, but it certainly seems like Microsoft is moving forward with new strategies for challenging Google.

Microsoft Moves On

Several of these strategies include new or extended partnerships. One such extended partnership is with long-standing Microsoft partner Hewlett-Packard, where Microsoft will install its Live Search toolbar on all HP computers in North America starting in January 2009.

Microsoft is also negotiating with Verizon to become the default search provider on the company’s cell phones, according to the Wall Street Journal. Though the terms of the deal are still being discussed, early indications are that the two companies would share ad revenue generated from web searches made on Verizon cell phones.

Yahoo!’s Future

What does Yahoo! do to secure its future as a viable Internet property going forward? Well, it’s changing leaders for one. In mid-November, Yahoo! announced Yang would be returning to his post as Chief Yahoo! as soon as the company found a new CEO. In addition, over the last few months, Yahoo! has rolled out a number of initiatives, releasing its own analytics package (similar to Google Analytics), updating the design of Yahoo! News, launching the APT (formerly AMP!) digital advertising platform, and announcing the Yahoo! Open Strategy, which aims to make Yahoo! programs open source.

While the change in leadership and these initiatives seem like steps in the right direction, we believe Yahoo! will need to pick a new CEO that brings fresh strategic ideas to the table and the company will need to develop significant proprietary innovations in search technology that convince users to switch back to Yahoo! for web searches. Yahoo! will probably need partners in this turnaround effort too. Microsoft is open to a partnership and combining search algorithm, mail, and instant messenger research efforts would save both companies substantial amounts of money. Such a partnership could also make Yahoo! the default search provider in Internet Explorer, Office, and other Microsoft software products and web properties. Whatever course Yahoo! chooses, hopefully it won’t be too little, too late.