RISMEDIA, May 17, 2011—You’ve just started your own business. You have put your sweat, blood, and tears into its success. So, now what? How do you plan to spread the word? Technology is advancing so rapidly that if you thought you had a real bang-up marketing plan a year ago, do me a favor and shred it. But take heart, young marketer! Advertising has become user friendly via social media sites. And by user friendly I mean it doesn’t break the bank…or your back for that matter. If you have half a brain and know where your computer’s power button is, you’re on your way!
No matter what media you select, the key to marketing is in the word itself. Know your market! How old are they? Female or male? What socio-economic group do they fall into? And what about nationality? Gather as much information as you possibly can and write it down. List the characteristics you believe your target audience will embody. Because let’s be honest, as much as you’d love your market to be “everyone,” it’s not.
Dollar for dollar, social media marketing is one of the smartest moves a business entrepreneur can make. Sites like Facebook, Twitter, and Linked-In, give you, the supplier, the tools and demographic information you need to develop relationships that are more personal with the demanders, or your customers. Create a topical conversation about your product or service via post or tweet and actually listen to the responses of your prospective buyers. If they have something to say, they will do so.
Capture the attention of your audience by engaging them in discussions regarding your product or service. How does it fulfill their needs? How could it be improved? This method of marketing eases off the “push” mentality and instead incorporates a “pull” aspect. Let’s face it. People love to talk about themselves, their experiences, theirs needs, their disappointments. Pulling answers from them will be a breeze!
Respond to your customers in a timely fashion. This allows them to trust you. If you embrace the user generated content and advice, your prospective customers will embrace your brand!
Stephen Schweickart is the co-founder of VScreen. For more information on this topic, visit VScreen’s blogsite at http://www.vscreen.com/blog/.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 40 leading brokerages, which make up 575 offices, 30,000 agents, 167,000 closings and represents over $41 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.
Copyright© 2011 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
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News broke earlier this week that Google had set aside $500,000 to settle a mysterious Department of Justice investigation of "advertising by certain advertisers," and now a report indicates the badvertisers were "rogue online pharmaceuticals."
The Wall Street Journal quotes unnamed sources in identifying the culprits, with Google and the DOJ refusing to comment on the matter.
The story says search engines can be held liable for advertising profits from illegal activity, referencing a 2007 incident in which Google, Microsoft and Yahoo paid fines totaling $31.5 million for accepting gambling site ads. Google has struggled for years over how to handle drug ads, moving in 2003 to ban ads for sites that sell certain drugs without prescriptions. The WSJ's sources say Google changed its pharmaceutical ads policy again last year after the DOJ began its investigation.
Google Near Deal in Drug Ad Crackdown [The Wall Street Journal via Engadget]
Further evidence that advertising on social networks (a.k.a. Facebook) is a booming business. BIA/Kelsey reports today that social media advertising revenues will grow from $2.1 billion in 2010 to $8.3 billion in 2015. BIA/Kelsey defines social media advertising as money spent on advertising formats across social networks.
The research company says that the currently, the predominant ad format on social networks is display, spending on which the firm expects will increase from $2.1 billion in 2010 to $7.7 billion in 2015. While revenues from non-display ad formats (i.e. Twitter’s “promoted products”) are currently minimal, BIA/Kelsey expects that in the coming years non-display formats will continue to grow as an ad genre on social networks, and expects the social non-display segment to grow from zero in 2010 to $600 million in 2015.
Of course, Facebook currently dominates most of the revenues generated from social media advertising. eMarketer reported in January that Facebook’s ad revenues came in $1.86 billion in 2010, while MySpace ad spend plummets.
BIA/Kelsey says that its version of social media advertising does not include virtual goods and rewards, social gaming, social commerce or social marketing, all of which are booming areas in advertising as well.
NEW YORK — Few Googlers understand the online advertising business as well as Susan Wojcicki.
After all, she’s been a a key leader on Google’s advertising products for almost a decade. Today, Wojcicki is senior vice president of advertising at Google responsible for the design and engineering of all of Google’s advertising products, including AdWords, AdSense, and DoubleClick.
In a conversation with Wired’s Steven Levy at the Wired Business Conference, Wojcicki touched on a number of topics, from the challenges of creating compelling display advertising to why she chose to make a commitment to stay at Google for the foreseeable future.
Wojcicki’s basic message? There is more work to be done, she said, borrowing a metaphor from the literary world — and teasing her interviewer. Asked by Levy why, with nothing in particular left to prove, she stays on the job, Wojcicki turned the tables. “Why did you write your book?” she asked Levy, a reference to newly-published In the Plex, an inside look at the place Wojcicki works.
“Google is fascinating,” Wojcicki relented, “and the book isn’t finished. I’m creating, living, building, and writing those chapters.”
In an interview with Wired.com prior to her appearance, Wojcicki outlined a few of her goals for Google’s advertising business over the next year.
“Even though search advertising works and we’ve had a lot of success, we think we can innovate a lot in that space,” Wojcicki said. “We’re always thinking about what the perfect ad is. And one of the things we’re realizing is that for certain segments of advertisers, we need different kinds of experiences.”
“So if you’re a retail vendor and you’re selling products, we want to include the pictures and the prices and be able to connect to the feed of your products,” she continued. “If you’re a movie company, we want to show a video in your ad, a trailer.”
Wojcicki described Google’s display ad business as a “very important” component of the company’s overall strategy and said the company is investing heavily in that area. She said the company is also “investing heavily” in contextual and audience targeting, as part of its display ad push.
Addressing another hot topic for Google, Levy asked whether “social” is in Google’s DNA, given the company’s stumbles in the social space, and the ascent of Facebook, which now dominates the social networking market.
Wojcicki didn’t mince words.
“People used to say that advertising wasn’t in Google’s DNA, and that’s obviously not true anymore,” Wojcicki said. “They used to say that display advertising isn’t in Google’s DNA, and that’s not true any more.”
Clearly, though, Google has yet to find a formula for social commensurate with its astonishing success in the online advertising market.
Full Coverage: Wired Business Conference: Disruptive By Design | 2011
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Former CBS <b>News</b> Producer Joseph Wershba Dies at 90 - TVNewser
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