Tag Archives: social media spending
Have you ever seen a couple and you’re just like, “how about no?” Well, that’s what many are saying about the recent transaction between Yahoo and Tumblr. On May 19th, Yahoo bought Tumblr for a whopping 1.1 billion dollars and many people are not happy about it.
In case you aren’t too familiar with Tumblr, allow us to introduce you. Tumblr is a blogging site that allows users to upload text, pictures, videos, links, and gifs (short little clips on a loop). Users can also follow fellow bloggers which enables them to see their updates on a dashboard similar to a Facebook feed. With that being said, Tumblr has gained quite the following with having over 300 million unique visitors monthly; 120,000 daily sign ups; 900 posts per second; and over 24 billion minutes are spent monthly on the site. That’s a pretty big deal.
Now, most of us are familiar with Yahoo! for being a pioneer of “internetness” and getting in on the first floor of the interwebs (considering it’s been around since 1994); however, many people say whatever Yahoo! touches turns to dirt. Yahoo! has had many acquisitions over the years, at least 77 of them including Tumblr, and many that have failed miserably. Their buyout of Tumblr though, is most comparable to their GeoCities acquisition, and I bet you’ve never heard of GeoCities. Doesn’t sound so good for Tumblr, huh?
But why is this such a bad thing? Yahoo is still around and Tumblr has a faithful following, right? Well, as with most things on the internet, what can be here today may be gone tomorrow. As a matter of fact, in anticipation of the acquisition the previous weekend 72,000 users an hour went to WordPress as opposed to the measly 400 to 600 users that normally transfer their posts over.
So what do they know that we don’t? Let’s stop and think for a moment, why is this such a bad idea? You know, beside the fact it didn’t work with GeoCities before. I mean, Yahoo should know what works now and what doesn’t and hopefully has the ability to learn from their mistakes… right? Well, Tumblr has a very specific business model. Rumors have already started circulating around the internet about Yahoo!’s goals to make Tumblr more family and teen friendly, which is great and all, but because of the super mature and NSFW (not safe for work) content, this can deter many users. Another BIG deterrent may be Yahoo trying to police copyright materials on the blogging site. In other words, if mature content restrictions and copyright content restrictions are placed on this free medium, MANY users may go elsewhere.
Another concern by many “Tumblrers” (and by most social network users) is ad placement. The last thing they want is their sanctuary infested with ads, but if Yahoo doesn’t bring in revenue, buying Tumblr will be a huge waste of money. According to reports, Tumblr only brought in 13 million last year which is a BIG gap in how much they were bought for, which can come back to bite them in the butt.
Although, there are many reasons to deter current users from continuing their Tumblr escapades, the buy alone was great publicity for the company which may in turn greatly benefit the site, propelling it to be the most amazing site in the history of amazing amazingness; but we’d be lying if we said we weren’t concerned. All we know is, we hope Yahoo doesn’t mess this one up because to some of us, Tumblr holds a very special place in our social media bubble.
Small businesses are starting to see success with social media. According to a survey of over 1,200 small business owners, 39 percent saw a ROI from their social media presence in Q1 with 30 percent of that group claiming that it was an ROI of $2,000 or greater. It’s no wonder that small businesses are increasing their social media presence. 26 percent of small businesses are planning on investing their dollars in social media marketing in Q2 2013 and 49 percent are increasing their time spent on social media platforms.
Small businesses are unique in that they have limited resources to allocate in order to achieve success. So, it’s a no brainer that the results they are seeing from social media, which costs little to no money to run, beats out hiring on new employees. Yes, nearly 79 percent of those surveyed are optimistic about their business in Q2 but it seems as though social media is proving to be more valuable and cost effective than manpower.
It makes you wonder, if small businesses are short on resources (time, money, employees) then how do they invest in learning and managing their social media? Well, 36 percent of small business owners refer to online resources (articles and blogs) to help them with their social media. In addition to online resources, 22 percent seek advice from their circle of friends and colleagues. Even though these learning tactics are economical, they don’t capitalize on time management. Knowing how to effectively utilize social media for business is complicated. It is a new marketing tool that has yet to be thoroughly explored.
That’s where we come in. Our goal here at Everzocial is to provide affordable social media services for your small business and free up some of your valuable time. We already know the ins and outs of the industry, it’s not just our job it’s our passion. You have enough on your plate already; let our team of experienced social media managers handle the rest. Feel free to contact us for more information or if you have any questions!
Did you know that almost 120 million Americans now own a smartphone, and 80 percent of those use their device to access social networks?
SoLoMo (Social-Local-Mobile) is the addition of local information to search engine results to capitalize on the increasing use of mobile, allowing businesses to push relevant offers to customers based on their location. And the results can be unbelievable – smartphones are expected to influence $200 billion worth of sales in 2013.
This infographic takes a closer look at how retailers are making the most of the SoLoMo opportunity.
Although small business owners are struggling with the added workload of social media and content creation, small businesses are ramping up their social efforts and are increasingly finding value in paying others to help them with their social media efforts.
According to an online survey of 462 businesses (93% with fewer than 100 employees), conducted between Sept. 17 and Oct. 5 by VerticalResponse, 66% of small businesses are spending more time and money on social media than they did a year ago, with 43% spending six or more hours per week on social media activities for their business.
How are those hours being spent? On Facebook and Twitter, mostly, as 90% of respondents are active on the Facebook; 70% on the Twitter. Only a third of the small businesses surveyed said they are able to publish to their social networks every day.
For some small business owners, spending six or more hours per week on social media activities, coupled with the one to three hours for writing a single blog post, creates a major time strain.
That’s why small businesses are investing more in getting help with their social media publishing efforts. The data suggests that if a small business is going to increase its budget, it will likely be for social media rather than marketing; 36% of those surveyed pay for social media publishing and analytics tools.
Small businesses should proceed with caution when considering when looking to have employees manager their social media. Always consider getting help from a reputable, professional social media management firm like everzocial.
Here’s an infographic highlighting the research data from Vertical Response:
Small business owners are taking social marketing seriously when it comes to establishing and promoting themselves online. In a recent survey by Manta, 90% of small business owners are committed to spending time or money to engage with their clients in social networks like Facebook, Twitter and YouTube.
This is significant in that small-business owners have been social network holdouts over the past few years and are finally adopting social media. Erik Qualman, the author of the wildly successful book Socialnomics states that “businesses don’t have a choice on whether to do social media, the question is how well they do it. ”
What is changing their minds?
Well the biggest benefit seems to be related to one of the findings in the survey and that is that 78% say that being found by new customers through social media channels is the main reason they are investing in social marketing. “Small businesses understand they need to go where their audience is. Participating, networking and being found online is extremely important today in growing their business, so it’s not surprising that they are embracing the channel”, said Pamela Springer, CEO of Manta.
However, the large amount of online and social media channels available can be overwhelming for today’s small business owner to navigate and use successfully. Business owners just don’t have the time or energy to maintain a consistent presence for both their business and themselves. Many of them are turning to companies like everzocial™ that specialize in being their voice online and allowing them to focus on what they do best, managing their business.
The bottom line is that all the recently conducted surveys reveal an interesting trend. Those who haven’t thought of spending time and resources on social networking should think again.