20 Stats About How Social Media Influences Purchasing Decisions
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In spite of the fact that it’s difficult to accept that we’re only a month and a half into 2014, digital marketing patterns have changed immensely. This year, as the computerized market develops further, the buzz keeps on being around mobile technology, social media and content development and this comes as no surprise for people.
For someone whose original ambition was to become an academic philosopher, Reid Hoffman has done very well as an entrepreneur. After deciding that the world of academia would not allow him to make a big enough impact, Hoffman decided his future lay in digital start-ups. On the back of the success of first Paypal and later LinkedIn he has built an estimated personal fortune of $1.9 billion.
While Hoffman’s latest company LinkedIn has been highly successful, he has also had his share of failures. His first start-up flopped and PayPal nearly went under many times according to Hoffman. Through these experiences Hoffman has learned a lot about what works and what doesn’t work when you are an entrepreneur. To learn from his experience here are the top 12 entrepreneurial lessons from Reid Hoffman.
Don’t Focus on How to Make Money Too Early
Hoffman criticizes the idea that entrepreneurs should be working out their business model early on. For seed stage companies they will still be experimenting. While you might have an idea of what the business model could be, it will probably change in the future. Trying to monetize too early can hinder the company’s growth and future options.
Solve Big Problems
Whether you are trying to solve a big problem or a small one you will still need to turn up for work everyday. Therefore you may as well focus on the bigger opportunities. When looking for opportunities focus on those that could completely change or dominate an existing industry. Paypal revolutionized payment processing and LinkedIn completely changed the way that people professionally network.
Launch Early To Get Feedback
Hoffman states that if you are not embarrassed by the first iteration of your product then you are launching too late. He advises that you launch as early as possible so that you are able to get feedback from the market. You can then use this feedback to add or remove features that your customers desire. You can also ask your network what they think and pivot accordingly.
There Is No Rulebook For Entrepreneurship
When it comes to successful entrepreneurship there are many different ways to succeed. While some entrepreneurs have found success in one way, it doesn’t mean that this is the only way to succeed. Sometimes if you want to be successful you need to be willing break the rules that others have laid out.
Keep Your Focus
The founder of Zynga once asked Reid Hoffman when LinkedIn would be adding games. The answer was “Never!” It is easy to be swayed but what seems to be working for your competitor but it is important to stay focused. While you want to be responsive to the market you should still have a core vision of where you want your company to go and to stick to it.
Fear Can Help You
Many people believe in order to be a successful you need to rid yourself of fear. However Hoffman believes almost the opposite. He says if you are not paranoid then you won’t succeed. He also says even after the success that LinkedIn has experienced that he is still fearful and that it helps to keep him focused.
Your Failures May Bring Benefits Later On
Reid Hoffmans first start-up was SocialNet. The business was largely a failure but it did help to build the foundation of Hoffmans extensive network in Silicon Valley. This network would become very useful later on for Paypal and LinkedIn. Even early failures may bring ancillary benefits later on.
When It Comes To Financing You Need To Think Ahead
Hoffman advises that as soon as you have completed the first round of financing for your company you need to start thinking about the second and third round. If you sit back on your laurels and are satisfied with the first round you will find that you are not prepared when you need more capital.
Look For Team Players
Being able to work in a team is one of the most important skills to look for in new employee hires. Hoffman learned this lesson from Paypal founder Peter Thiel who advised to choose employees who had been involved in some sort of team sport. Hoffman himself played in a soccer team. Being able to shift and pivot as is needed is important but they must also be able to do this as a team. If some people resist the changes the business will lose focus.
See The World From Their Perspective
Whether you are designing a new product or forming a business relationship you must be able to see the world from someone else’s perspective. When creating a product you need to be able to understand what it is like to be in your customer’s shoes. The same is true of creating authentic networking relationships. You must understand the world from their perspective.
Hire People Who Can Learn Fast
For early stage start-ups one of the key characteristics he looks for in employees is the ability to learn fast. He says this is more important than experience. He would choose someone with the ability to react quickly to changing circumstances, to someone with 20 or more years of experience. This is essential for start-ups because the business will usually need to pivot frequently once it is exposed to the market. An example of this is Paypal. In the early days of that company there were many different ideas of what the company could be, so it pivoted often. Originally the company was named Confinity and was designed to serve only as means to transfer payments between palm pilots) If the employees of that company had not been so flexible it would have failed.
Be First or Second
When looking for opportunities try to be the first player in that space. If you have a unique variation on the business then being second might also be ok. However if you are third or fourth then you are too late. Hoffman uses the example of Groupon. A second variation on this Groupon might be successful if executed correctly but a third or fourth variation will likely fail.
Author Bio Tom writes for valuator – click here to learn more about what your website may be worth and what it may fetch when selling.
National bankruptcy is a popular discussion topic lately.
But many countries have tried this – including France, Germany, Great Britain, Russia and Span. Read all about it here.
All the best to you, Henrik
Now you can read about what NOT to do on Social Media… I hope you like the presentations and can use the tips and tricks – all the best to you all, Henrik
Although millions of blogs exist online, only a small handful of them ever attract a wide audience, earn significant amounts of money, make their own success, or sell for a lot of money.
What do you think the difference is between these successful blogs and all the other blogs that flop or dry up?
There are probably several factors including motivation, prior knowledge of search engine optimization, and posting schedule, but one of the most important is that these blogs are engaging and compelling. Here’s how you can transform your blog into a bigger, better blog like them.
Ask what you can improve on
If you have a responsive readership, you’re at a significant advantage at this point. You can ask what your readers want to see you do better or what they want to see more of in the future.
If readers frequently interact with you, however, you’re probably already doing something right so you don’t need to transform your blog completely – just improve and refine it.
This stage will come later if you don’t already have an audience, so keep in mind the value of asking what people want to see.
Look at your last few posts and see if you would bookmark them
Many people bookmark the best posts on their favorite sites. Look at your last few posts and see how many of them are worthy of a bookmark.
If you wouldn’t bookmark your own work and see it as a valuable reference, inspiration piece, or review, why would you expect others to do so?
Going forward, try to make sure each post has something important or wise enough that you would bookmark it if you were a reader.
Mix up the types of posts you make.
When you’re on the go, you might not have the time to write a comprehensive and detailed text post, so why not shoot a video and upload it, take a few pictures, or open your blog up to discussion by others?
Using an ISP like www.clearwirelessinternet4G.com can help you get online even when you’re on the go and not at home.
This goes hand-in-hand with frequent updates – when you have an on-the-go Internet service, your blog will never be idle.
Improve your writing style
Many people don’t discuss the importance of being a good writer and focus on the “equal opportunity” of blogging as a way to overcome poor writing skills. This couldn’t be further from the truth! If you aren’t a good writer, you will suffer.
Do you know how to use commas, which words should be capitalized, or whether a sentence is a complete sentence? If not, review basic books like “The Elements of Style” to get a grip on grammar and style, use a spell checker, and actively improve your writing skills at every opportunity.
Nobody wants to read dry, boring posts, so if your blog is not engaging, you will not attract repeat visitors – who can go on to become fans and “Superfans” (the best group of fans for anyone building a tribe).
These core fans will spread the news about your blog to a wider audience and make you popular, but you have to speak directly to them and cut the dry stuff out of your posts.
Stella Drysdale is an SEO expert. She frequently shares her best SEO tips on small business blogs.
There are a lot of social media marketing tools out there for you to try. They have come about because social media is the big “thing” at the moment, and so people are trying to capitalize on it.
Their motivations for creating social media tools are varied. Some do it because they simply want to affiliate advertise on their websites. Others have produced them so that people buy them or so that they act as a subscription tool.
Others have created them as open-source in the hope that somebody will improve the code so that they have their own personalized social media marketing tool. Some people have created them for more nefarious reasons. Whatever their reasons were for creating them, here are a few you should try.
This gives you a bunch of tools that you can use for your social media campaign, and it allows new marketers to gain new customers through things such as social gestures. The customized social marketing function will also allow you to track the ROI of your campaign.
This is actually a good branding tool. You can manage your workflow, you can customize and there is a very nice approval process you can try. You can create videos and text for your social media campaign and you can add photos into the mix too.
You are able to publish manually with a single source and spread it across different platforms. You may also do the same with their scheduling function so that you may post in a routine manner or at the most optimal times.
You also gain access to its aggregated analytics dashboard so that you may measure your content strategy as well as the results of your posting schedule.
This tool offers you the ability to social media market and measure. It has an analytic program that allows you to measure the success of your social media marketing campaign.
The tool platform will work with blogs, YouTube, Twitter and Facebook. There are engagements and analytic reports, a user management option and multi-channel execution functions too.
This helps you to manage your social media marketing and your social media communications from just one platform. You can build an engaging campaign with this tool, and you can measure social media too. There is a platform that allows you to manage multiple accounts on multiple networks.
It has social CRM and a very crude Facebook ecommerce tool (which is not recommended). There are mobile features for you to try and an email marketing system too.
This is a tool you can use to create interactive campaigns on social media.
The tool makes their creation very straight forwards. You can create contests, give-aways, and sweepstakes on the platform, all with very little thought at your end.
This tool does as it says in its title. If you want to get a message out onto social media fast, then this tool will help you to spread it quickly.
You can manage and monitor your social media campaign through this app, and you may measure a limited amount of the social chatter that your social media marketing produces.
There are options that all you to enterprise your social media management over a wide number of useful social media channels.
Direct Message Lab
With this platform tool you are able to manage your social media campaign and set up contents and promotions.
You are able to advertise and measure your efforts to achieve your goals.
The name of the tool is misleading, because if you look at their marketing you will see that their message is less than direct. However, if you can cut through their marketing jargon, you can use the tool to great effect yourself.
StrongMail Social Studio
This is a social media marketing tool that is fairly comprehensive. It has a number of tools that you can use to both share content and manage your social media campaign at the same time.
It has lots of little functions that you may play with and benefit from if you put them to proper use.
This is a visual authoring tool. It is basically a cool way of creating and building interactive Engage apps and Engage ads.
You may deliver very rich and interactive social media content. You may do it across the web or across mobile device social media platforms.
It is a good tool to add to your collection in order to make the occasional interactive Engage ad, and some people have found it to be a very good (if seldom used) tool to aid their social media campaign.
Author’s bio: The guest post is written by Sonia Jackson from www.homework-desk.com
Steve Jobs was an amazing guy. And as a SEO guy I have learned that it’s about great content. And it’s about FOCUS. So without no more talk about marketing, business, Apple, Google or anything – let’s hear it from Mr. Steve Jobs.
All the best to you, Henrik
This is my predictions for the future of social media 2014. Take a look and let me hear your predictions.
All the best to you, Henrik
Well the new baby on the internet is Social Media right?
So if you think of the SEO as a stand-a-lone industry – you have to redefine your thinking. The baby Social Media is here to stay – or at least for a very very long time.
Beside Social Media – we also have to take care of the more and more use of Local Searches. If you are in Manhattan you will get a completely other search results – than if you did the same search in Copenhagen in Denmark.
So both Local Searches and Social Media – wow – I think the good old fashion SEO is as good as dead.
Ranking is the search engines way to compare your websites to your competitor’s website for a specific keyword right? But living in the age of the social and personalize web. Google and other search engines will know you more and more. And it will give you a very personalize and local result for you.
If you are searching for coffee – Google already know you have a good friend who you talk with on the net 4 times a week and his best friend has a coffee shop half a mile from you. So of course Google will show you that shop at the top of the ranking.
Here in the picture I have searched for SEO. And to the right you see that Google is showing me people and pages from Google+. And it is also showing me some personal social ranking in the main ranking. (I promise you my website will not show up among the first top 10 on Google for the word SEO normally).
But before you get to negative – think of Social Media optimization as a form of SEO. You have to face it – the real-time search is here. We will have to reborn our SEO. Maybe we should call the baby for Local Social Media Optimization – LSMO. Or maybe some cleaver guy before me already has taken that word – lol. Maybe its better to call him Joe hmm.
Let me tell show you an example of how you can make it work.
- You set op a website or blog
- Next you set up your social networks – like Facebook, Twitter, Linkedin etc.
- Local search setup – remember to use the local setup on Google, Yelp, Urban Spoon, CitySearch etc.
- Build up likes on Facebook, followers on Twitter, connections on Linkedin
- Stil create some great content
- Get social – start to join groups, commenting on blogs, get backlinks.
We still have to make sure you end up with the right keywords, use the right keywords in your profile and local set up. We have to work much more on getting you a lot of followers, likes and connections from your social network. So yes – I think we (the SEO guys) have to work much more then before.
So guys – SEO is not dead – but we have to rethink the industry – rethink how we are working. OMG – I have to get social 🙂
What do you think guys? Am I wrong about this? Give me your comment…
Marketing Give away
Remember to grab my Free SeoCustomer Guide 2011 right here – here you can read all the great tips and tricks that I have been writing about in 2011.
And yes yes yes – remember to put me in your Google+ circle, like me on Facebook and connect to me on Linkedin right?
Okay time for my coffee. Have a great day all…
Here at Seocustomer you can get tips and tricks for your SEO, Social Media, Link Building and Marketing. Get ideas and tools here.
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