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Week of November 19th, 2007
Last post 11-19-2007, 10:31 AM by admin. 0 replies.
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11-19-2007, 10:31 AM |
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admin
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Joined on 03-28-2007
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Posts 38
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Week of November 19th, 2007
Spread the News: Word of Mouth Worth $1 Billion - AdAge; November 15, 2007
"What's consumer word-of-mouth advocacy worth to marketers? Try $1 billion...That's how much marketers spent on WOM -- as it's known to its practitioners -- in 2006, according to an independent research report on the field that will be unveiled during a session at the annual Word-of-Mouth conference in Las Vegas today. The analysis, believed to be first in-depth look at word of mouth, reports that spending on the emerging discipline has increased from $76 million in 2001 to $981 million in 2006 and is expected to grow to approximately $3.7 billion by 2011..."It's starting to be recognized as an established industry," said Leo Kivijarv, Ph.D., VP-research of PQ Media, which performed the analysis..." FULL STORY
Paying to Hear the Complaints - The New York Times; November 14, 2007
"Using online customer reviews in company decision-making was pioneered in the late 1990s by Amazon.com and eBay. More recently, service providers like the Communispace Corporation have improved the strategy by adding features to categorize feedback that could be helpful to business owners down the road...The benefits of these services trickle down to manufacturers, too. Rex Creekmur, director of marketing at Rugs Direct, an online rug retailer in Winchester, Va., said that when feedback from the Bazaarvoice service indicated customers were lukewarm about a product, he notified manufacturers so they could tweak a product in development accordingly..." FULL STORY
Marginal Utility - PopMatters; November 13, 2007
"It may be a generational thing, or a my-being-a-Luddite thing, but social networking seems to me to have less to do with being social and more to do with self-marketing. MySpace, when it started, was primarily a place to market your band; it was a means to mounting a commercial website without the HTML knowhow. Once people had personal websites, they could be drawn in with the allure of metrics, the thrill of measuring one’s reach the way a marketer would—how many hits you get, what kind of demographic you are drawing, how successful you are at getting target audiences to interact with your site, what you need to say or how much skin you have to show to attract more attention and things like that. The attention, in this realm, becomes a measurable kind of currency, whereas in the dreary real world, it’s much harder to put a number on it—you can’t really count how often someone looks at you or answers your questions or has a positive thought about the way you have designed yourself..." FULL STORY
Shoppers Want More Customer Reviews - Adweek; November 12, 2007
“In a wake-up call...gearing up for the holiday season, the survey also shows that 82 percent of the social researchers said they found reading reviews better than researching a product with a knowledgeable sales associate in a store...Customer reviews on the e-commerce sites of national brands began gathering steam in mid-2007 as more brands overcame their fear of giving consumers a platform for negative comments about their products. This strategy is primarily used by electronics companies, such as Toshiba, Dell and Hewlett-Packard, and specialty clothing companies, such as Fair Indigo and Eastern Mountain Sports...Since then, various studies, including the "Social Commerce Report" conducted by Bazaarvoice and E-consultancy in June and July, have shown that online customer product reviews increased e-commerce orders and site traffic. As a result, brands such as Wal-Mart, Toys R Us and REI have hopped on the customer review bandwagon..." FULL STORY
Will Google Offer PayPerPost Bloggers Amnesty? - Webpronews; November 12, 2007
"Since the first real information came out about Izea's (PayPerPost) new SocialSpark service, that is in testing but will formerly launch in January my excitement has been a little tempered...As I wrote in my initial preview of SocialSpark, there will be new metrics for gauging the authority and influence of a blog, to help determine advertising spend, not only based upon traffic and demographics, but also on past performance with CPM and CPC data also being made available...All the negotiation about a particular campaign will be 100% transparent, thus there will be an audit trail to prove that an advertiser didn't require specific linking, and that audit trail will be open for public, or search engine approval...There will be full disclosure within each post, with a link though to that 100% transparent audit trail, far exceeding any stipulations or recommendation from either the FTC or WOMMA..." FULL STORY
Get Clicking With a Like-minded Stranger - The Sunday Times; November 11, 2007
"One in five UK net surfers regularly visits Facebook or MySpace to hang out, swap anecdotes and post embarrassing photographs, reports Nielsen NetRatings, the analysts. And it’s not just web-savvy teenagers. Nearly a third of Facebook users are aged between 35 and 54, according to a study by ComScore, the online research firm, and these include celebs such as Sienna Miller and politicians including Boris Johnson...The real mystery behind Last FM, another UK success story, is not why CBS paid $280m (£133m) for the site, but why nobody had thought of combining the two most alluring facets of web life – music and networking – earlier. This online radio station recommends music for you based on your tastes and what people who like similar bands to you are listening to..." FULL STORY
New Player in the Social Network Game - PR.Com; November 10, 2007
"ConnectHit, www.connecthit.com, has aspirations of delivering a clean, safe, and fun alternative in the emerging online social networking arena...ConnectHit, which is based out of one Burlington, NJ. Launched its social networking website on November 1, 2007 at www.ConnectHit.com. Social networking websites are sites where users create the content through their personal bio pages, blogs, online photo albums and forum posts. Popular sites in this sector include MySpace.com, Xanga.com and Facebook.com which have been under heavy scrutiny from some critics lately. ConnectHit.com plans to enter this arena as the safe, clean, fun alternative to the popular sites getting plenty of media attention..." FULL STORY
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