Posts Tagged 'facebook'

Facebook – Social Media or E-Commerce Strategy Required!!

Everyday facebook seems to be attracting millions eye balls across continents with average time spent on site increasing every month they soon needed a business model which evolves facebook from just being something dependent on Advertising to something which is recession proof or a transaction based business model which would lead to creation of biggest  marketplace platform which will have 10X  the valuation which it presently command and will be a true ebay or amazon competition.

There are already test runs being done for a payment system similar to paypal which will be available for developers to integrate with facebook apps being developed. With its availability it will open a new world for individual or mom&pop stores to come up on facebook giving competition to big stores due to power of community which empowered ebay.

Imagine coming up with a simple app of creating custom t-shirts with photos or coffee mugs with same for fan clubs to buy online and retail through community pages on facebook. Other hand even complex mico finance lending apps can become real time why facebook with money sharing and management throught online platform.

Over years online book stores like amazon have tried to invest in building products which help bring trust and confidence in people on search results via people reviews of product, community building etc which has helped in generating signifcant return by increase in ARPU(Average return per user) and increased order sizes, Now image with network of trust already established among people on facebook it will take right e-commerce strategy to get product results the way it would work on setting up store on internet.

Today when people talk about social media strategy they talk about blogging, community sites, apps on social networking sites and how brand/product can be positioned or communicate with their audience through such medium. All RoI metrics which are shared are similar media measurement metrics, they still dont map to e-commerce goals or sales goals for the product. I strongly believe its just due to the fact communication manager or marketing manager is defining direction for usage of platform instead of E-commerce manager who should be working on creating apps and strategy to sell products via an online catalog by understanding user behaviour with the platform.

Possible applications

i) Event Ticket Retailing – With so much convience to manage invites for events among peer networks. First feature which can start to reap benefits would be events ticket retailing via facebook and like google long tail theory would apply where even person is able to sell 10 tickets in his network still due to M-M fundamental of people using the platform facebook will make lot of money.

ii) Dell Laptop store – Dell could have a laptop store on which people can customize type of laptops or desktops built over dell series host them on their profiles for other people to see as their recommended PC to buy and earn comission through promoting Dell product ofcourse with their knowledge guarantee in their network

iii) Alternate to Itunes– People recommended music can sell via hosted service similar to i-tunes probably catalog app developed by music companies.

These are couple of opportunities which will come for businesses more than that today professionals need to start investing time in understanding the platform and start looking it as a marketplace platform instead of communication platform.

Open to other people adding their comments on way they see facebook evolve. Though bottom line is I see facebook as the next killer e-commerce app!!

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Is Facebook worth spending Advertising Dollars

Over last couple of months i have spent lot of times in measuring performance of advertising campaigns on facebook targeted towards Indian IP audiences. But really except for one really dont have a success story which proves Facebook banner display inventory really works for advertisers.

But before we go into details of it works or doesnt work for an advertiser we need to understand the audience available. As most of the campaigns have run are from Indian audience target perspective what we really understand about the rthem on facebook till now is

i) Primarily Sec-A

ii) Average age Male – 23 Female 25

iii) Average time spent on site per user > 45+ Minutes per day

So the audience really sounds prime to be focus of any type of advertiser let it be brand or performance but then why dont we see success.  Now before i start talking about it just to make sure we are not talking about facebook apps, viral marketing etc here. We are looking at facebook from pure display banner/rich media advertising perspective.

What we have seen till now is very high level of engagement of users with facebook as a product ignoring anything outside the framework completely.  what does it translate in terms of CTR(click through rates)

If its a targeted campaign you may see CTR between 0.03-0.04% but in case you run an un targeted campaign it in terms of targeting all Indian IP users then we see CTR between 0.05-0.07%.  If you just go by these numbers then it break laws of all fundamentals one learns as a media planner where targeting is considered god.  But one needs to understand the property more in general instead of just classifying it part of social networking channel. If you compare facebook to myspace or linkedin biggest difference what you see is facebook is just a communication tool between people. Its not generating any content like myspace etc. Which creates a big difference in engaging user to think and then react in terms of suggestive advertising. If you look at properties on offer at facebook compared to Yahoo! Mail for instance, If i was to advertise will select Yahoo! mail over facebook if during pure vanilla display advertising any day why as facebook just offer 120X600, 728X90 which are based on user/community profile pages or search pages etc.

No advertising on Profile page in terms of 300X250 or Logout page etc, We have tried advertising via facebook apps and they tend to give better CTR as compared to what is offered by direct advertising on facebook property. Biggest thing what i have realized is if you want to use facebook to derive traffic to your own property then it will not really meet your RoI set out but if you look at the medium to interact with your product audience,engage get feedback and work on reputation management then display advertising on facebook can complement the actions. for instance if you would like to promote an event or create a community around your product and  then you advertise it to facebook users using the ad inventory available you will see better return and measurement shouldnt be clicks or CTR but number of users aggregated to your community and ARPU generated through a defined 3 months activity plan after aggregation of user.

If you are a brand and have defined resources to manage on going relationship with audiences then it makes complete sense for you to take facebook route and explore interaction opportunities with your audience but if you plan to do a one off blitz and looking for return then trust me facebook is not your cup of tea. Will be glad to share more learning if anyone needs help.

Indian vs International Social Networking Sites

Since last year lot of people had talked about social networking sites and opportunity it provides to advertisers for reaching out to potential user base.But not much activity was really seen keeping in mind digital advertisers/ agencies approach not to experiment much except to deal with top 10 publishers in India which have their own sales team or take initiative in getting themselves noticed.

Our home grown social networking sites have not really performed with indian networks even yet to open up their inventory. Although facebook, myspace, hi5 are international sites they do get significant #’s from india which surely make them easily break into top sites for users from India.

Alexa Stats | India Ranking

Hi5.com – 53

Myspace.com – 86

Facebook.com – 11

Orkut – 3

Perfspot – 27

Indian Social Networking Sites

– Bharatstudent.com – 22

– ibibo.com – 45

– Minglebox – 96

as you can clearly seen International social networks have higher reach with audiences there are couple of factors which really attribute to their success.

International Networks which are hit abroad get easily adopted by NRI community to connect with their peers locally at university,workplace,interest group level which leads to invitations bombarding in their Indian Peer group which are highly net savvy primarily social urban population this means faster adoption as compared to their indian peers

This is also the reason why advertising campaigns on social networking sites are also getting lower click through rate. As these net savvy users have already learnt to block out non engaging advertisers.

Advertising trend wise International sites like facebook has shown greater response to brand advertisers as compared to performance advertisers if combined with behavior and profile based targeting instead of normal contextual targeting.

Indian counterparts are currently working on generating adoption to their platforms using advertising on other people’s inventories as compare to their own. Once probably they are done with their own we may see them opening up to indian advertisers and really be able to judge their platform advertising potential.

Will talk about which campaign work work best on Indian Social Networking Inventory in next post.

Zoomtra.com first one to join Facebook bandwagon from India

In my earlier posts i had talked about importance of social networking for meta search engines and sites looking for user generated content. Zoomtra.com – A Meta Travel Search engine has gone ahead and released an application on facebook which focuses on Indian destinations.

Application is called India Dekho helps user tag different cities in india where they have been and write reviews and rate them for other people planning trip to india. The best thing which i liked about the application was ability to add review for individual restaurants,night spots and shopping places from the city.

Although lot people will talk about initial applications which were released by trip planner etc had similar features but i liked the review of night spots and restaurants concept which others were doing only for US specific destinations.

Though every human creation has flaws so does zoomtra’s facebook application with ability not provided to add just reviews on restaurants or shopping sites later after adding a city review. Other thing which i would have liked would be if they could group all restaurants,night spots in a city in a drop down with ability to see all users rating for all places in a city at one place. Also giving it a little structure would help.

Overall a nice effort as it will help in generating lot of user generated content which will help in increasing more user traction as way forward for meta travel search engine is content aggregation.

I might be wrong on stating they are first facebook application but its the first one i stumbled upon facebook.


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E-mail:siddharthpuri@gmail.com Call Me :+91-9910444460
December 2017
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