Name: Jason, aka "Jason Small"
Web Site: http://www.socialmediaandthebigw.com
Bio: Social Media and The Big W is the place where news, talent, testing, resources, and love for the social media, and web community in general intersect to provide meaningful information for the global social media market. Jason Small is a social media strategist and digital marketer with SEO, website design and development expertise and working with Revolution Digital to service several major brands in various industries including entertainment, pharma and other industries. For more information on Revolution Digital, please visit: www.RevolutionDigital.com DISCLAIMER: This blog is maintained independently of Revolution Digital, and the views and opinions expressed by the author, or guest authors, do not necessarily state or reflect the opinion of Revolution Digital.
Posts by Jason Small:
Facebook’s Broken Mobile Experience
July 5th, 2012Starbucks, Lady Gaga, Dunkin Donuts are just three of the biggest fan pages on Facebook. But no matter how big or small you are, the mobile experience for your email subscribers is broken and you may not even be aware of it.
Yes, I agree and acknowledge email is no where near as cool as social for quite some time now. However, you can’t dispute reports like the DMA’s October 2011 report showing the ROI at approximately a 4:1 ratio in email vs social. And you can’t argue with the fact that there isn’t a soul out there that has a Facebook account without having an email address as a prerequisite. And finally, you can’t dispute the mobile trend taking place.
So then, one might wonder, why is the Facebook email/mobile experience broken?
What do I mean? Well, send any one of these links to yourself on your mobile device, via email, and try to open the link:
Starbucks Facebook Fan Page Pinterest App
http://www.facebook.com/Starbucks/app_305927716147259
Dunkin Donuts Facebook Fan Page Instagram App
http://www.facebook.com/DunkinDonuts/app_267091300008193
Lady Gaga Facebook Fan Page Vevo App
http://www.facebook.com/ladygaga/app_157391050947062
You get this:
Facebook Mobile Experience for Apps
This means that some of the richest experiences on Facebook, for the biggest Facebook fan pages are not available. At least if they were viewable, but not yet mobile optimized, users could access them.
How serious is this? Let’s check out some stats:
• 82% of smartphone users check and send email with their device.
Source: Google (April, 2011)
• 89.6 million Americans access email through a mobile device, with 64% doing so on a near-daily basis.
Source: ComScore (January, 2012)
And here’s the homerun:
• 27% of all emails are opened on a mobile device. 20.6% from smartphones, 6.8% from tablets. This is up from 13.4% in Q4 2010.
Source: Knotice Mobile Email Opens Report (April, 2012)
So 27% of your subscriber list receiving your email campaigns would not be able to access or engage with the richest part of your Facebook fan page. Understandably, the curve to adapt and/or require all apps to provide an ideal mobile experience will take quite some time. But it seems that a smart short term fix would be to render the existing app experience within the mobile browser, rather than writing off 27% of the most valuable customers/fans/followers that a brand, artist or small business retains.
Obviously, the workaround is to send your email subscribers to the fan page wall instead of the specific app on your fan page. But consider the lost engagement based on the stats above, and the fact that most promotions, contests, polls, sweepstakes and more are within these apps. Best practices dictate marketing these initiatives to your email subscriber base and driving them in a single click to register…but beware, you may be crippling 27% of your audience from doing so if they open it on a mobile device. One last stat to leave with you, over 95% of emails are only opened on one device, very few users open emails on mobile first and save for their desktop later – so you only get one shot. Source: Knotice Mobile Email Opens Report (April, 2012).
Share your experiences below, has this impacted your ability to execute a campaign efficiently?
Popularity: 4% [?]
Google+Apps and Mobile Growth: Looking Ahead for Your Brand or Agency
July 3rd, 2012
Digital Trends 2012
I’ve basically had a ‘tour’ of many of the biggest and brightest agencies over the past year while working as Director of Business Development for a fifty-person startup. I’ve researched, presented, worked with some of them – giving me a pretty valuable insight into how these teams are working on various parts of brand business. Agencies like Ogilvy, Razorfish, Digitas, Barbarian Group, Flightpath, G2, Morpheus, Huge and more. After having my own agency for several years in NYC, and then working as a partner at Revolution Digital (mainly on social across many accounts: ChapStick, Dial, Centrum, Caltrate, Honeywell and more) I’ve got a great birds-eye view of what is happening in the industry and I’ll be putting this experience here to help you and the world you currently work in.
All this to say that, though the application and mobile space is ‘new’ in the opportunities it offers, the greater trend over the past 12 years is a cycle of disruptive innovation. The smart brands and agencies seeing the bigger picture here can organize, structure, plan and execute against the greater digital trend – not just find themselves in a reactive position.
This means the digital teams need new media leaders, who can identify trends and implement teams and structure to win new business from clients while still serving existing clients. Brands that have their capabilities ‘siloed’ with different agencies in social, email, and more can easily miss opportunities by fragmenting their digital teams.
The smart agencies are collecting clients across these digital capabilities, and the brilliant agencies are already organized or organizing against the macro-trend of new media. Applications and mobile are the new challenge, but the trend is not new – and the opportunity is endless.
The takeaway is to make sure you are positioned around the macro-trend, while still addressing the new challenges.
Writers note: For my readers that noticed the small gap from May 2011 to July 2012 in my blog – thank you for your renewed interest. Sorry for the long absence. I value your readership. It’s a funny paradox – the more you are actually ‘doing’ the less time you have to be ‘thinking’ and thus, some things are lost in the interest of time. I’ve renewed my commitment to write and I hope you will continue to read and share, and that my expertise proves useful and valuable in your day-to-day challenges in digital.
Popularity: 2% [?]
Google+Two Minutes of Thoughts on The Democratization of Social and Search
March 31st, 2011
Google's +1 Button Reach
What is it? Quite possibly the biggest iteration of social and search to date. View the video explaining +1 here:
The advantage of using your social network to mediate the credible and most relevant search results for you is arguably one of the most useful applications of social media. But Google needs to find a way to bring in as many ‘signals’ as possible: Twitter, Facebook, etc. If they just use people with existing Google accounts, many won’t be able to benefit from the +1 button.
Google is also looking to deploy the buttons to websites, just like the Facebook ‘like button.’
So who is going to then deploy the ‘love’ button? Maybe me.
Love this?
Popularity: 5% [?]
Google+Social Media Tunnel Vision: Facebook and Twitter
February 28th, 2011
Social Media Tunnel Vision
WebProNews published a recent article about Facebook and Twitter Tunnel Vision and I couldn’t agree more.
So I starting thinking through the main reasons this is happening and it’s definitely driven a great deal by the fact that Facebook, and Twitter to a certain degree (but not as stongly as Facebook), are able to apply to so many broad ‘categories’ of brands, businesses, and entertainment entities. However, for example, a major CPG brand (i.e. Tide laundry detergent) that is only available on store shelves can’t benefit as quickly/obviously using location-based social media like Foursquare. Yes, it can be done with the right promotion/clever thinking, but it isn’t as easily developed and executed as say, a Facebook fan page. But, a small business with a brick and mortar store location might benefit greatly by leveraging Foursquare to offer specials and generate buzz.
The social media sphere is staggering and growing everyday – so it seems that for the time being many grasp to the leaders in the category because of the wide applications they have for all brands, small businesses and more. But clearly, the proportional attention Facebook and Twitter receive can often drown out some of the other great social media communities that are also extremely important and useful.
The lesson? Don’t equate social media with just Facebook and Twitter – you may as well call yourself a ‘social media expert’ which always gets a laugh at any social media conference I have been to – there is just too much going on to call yourself a ‘social media expert’ – wait 20 minutes, and something will change (platform technology, promotions guidelines, etc). (Hint: try specialist or strategist) I am sure I just opened a can of worms with that, but that’s a completely different post…coming soon.
Popularity: 10% [?]
Google+Social Media and Change
February 16th, 2011
Brief digital summary
I read across 5-12 different industry publishers (blogs, magazines) on a daily basis to watch for macro trends in a meaningful way that I can consolidate and communicate to my readers (all of whom for which I am grateful!). During the past few years I have seen the macro changes and how these boil down to the micro impacts in the day to day usage and planning in social media and digital initiatives.
From emergency plans for social media PR nightmares to the search for useful ROI information on followers and fans. As well as keeping a constant eye on the policies and platform changes in the social communities – these are just a few examples of the areas that need attention in order to set up shop in the social media space and all of these things can change while you are already in mid-stride with your digital marketing.
Admittedly, all of the changes I mention below deserve much more detail that I can consolidate here.
In 2009 to 2010 it was the rise of location-based (mobile driven) social communities that were becoming more ‘accepted’ and ‘accessible’ to users as the smartphone penetration in the US increased. Google made a move to buy AdMob for 750 million which clearly signaled the value of mobile advertising in the future.
During 2010, some of the changes we saw included close alliances forming between Bing and Facebook – making social media and search come closer together. We saw Facebook surpass Google in several new metrics which further cemented Facebook as the #1 online destination in the US. The speed of search engine results became instant, when Google started providing instant search results. But the search engine giant still struggles to compete with the social power of Facebook as Google tries hang on to it’s hold on search. I fact, current rumors about Google buying Twitter are circulating, as Facebook and Microsoft also look to engage in a possible deal.
Adding a cautionary note, and yes a somewhat unrelated statement, I wanted to make sure you take notice that through all of these changes many start-ups have created applications to serve the sometimes-difficult creative, marketing, and technological needs of small business and major brands. At times, these start-ups have grown rapidly only to be put out of business almost overnight, due to the unpredictable changes made by the social media communities they serve. These include policy changes to promotional guidelines, or the dreaded changes to ‘API’ streams and how they are permitted to be used by applications. I add this note only to caution those marketers that are savvy enough to use third party vendors and tools that substantially reduce your cost in time and technology through the rapidly changing landscape. It’s sometimes difficult to tell which ones will still be here six months from now, regardless of how large they may be at the present time.
My description of our digital future is: mobile, real-time, social and highly-opportunistic. Also, be prepared for the possibility that applications may potentially become the most powerful ‘touch point’ to reach users in the coming years.
First movers like Starbucks gain tons of press just by leading the way in testing social media campaigns in meaningful ways that deploy quickly in comparison to how fast other brands initiate new social media efforts in unexplored territory. For those that can adapt this quickly, there are rewards (as well as consequences).
Hopefully this helps in a few regards for those that are still playing ‘catch up’ along the way!
Popularity: 5% [?]
Google+Is Facebook Stuck?
February 1st, 2011
Is Facebook stuck?
Ask yourself the obvious question at hand here: If Facebook was built for a demographic of college students and did not originally intend to suit a worldwide base as well as major brands, why does it still look so much like the original interface? Was it that good? Or is it just that ‘scary’ for Facebook to overhaul the interface?
I don’t know the answer. But I ask myself these questions all week long – as I help modify, structure, and strategically assist in planning up to 6 brands in Facebook. “What the heck were they thinking when they set this up?”
From security (SSL was finally addressed this week as a first step – thank you Facebook! Read more here: http://developers.facebook.com/blog/post/452), to privacy, bugs on the platform, spam bots that are catching on quickly to fan pages and more – the platform’s growth has definitely granted it a lions share of challenges.
This is to be expected, but what the users and developers would then expect is an ever-improving platform with the overall goal of becoming the best social media experience for users, businesses, brands, and advertisers. So, is this expectation possible with the current interface?
Zuckerburg is smart, let’s put that to rest, and of course there are certainly some amazingly talented ‘thinker’s and developers’ doing some very difficult things to keep this platform up and running, let alone improving. Some of the recent changes make it easier to highlight media on user profiles, such as photos, at the top of the user profile page. As well as the move to place personal details at the top of the page – keeping users constantly aware of the accuracy of their personal details. Taking the ‘media (photos/videos) is a magnet’ approach further, look for Facebook to also possibly integrate video at the top of the profile page in the future.
Overall, the platform has created an empire – and of course I am not saying I could have done any better to date – I am not working at Facebook. But from a user standpoint, it has served quite well. Could it be better? Absolutely.
From a marketer/brand standpoint, many structural components are an awkward technological ‘monkey dance’ (pardon the expression) and require programming and user flow experiences that are clunky – if you sit back and think about it, why does the wall conversation have to be so ‘separated’ from the other ‘tabs?’ Isn’t there an ‘information architecture’ that is more conducive to the efficiency of navigation and consumption of content? I have got to believe that IA (Information Architecture) guys pass each day by throwing paper wads at the structure of these fan pages on their computer monitors.
I believe Facebook is smart enough to recognize this, but what will they do? Great question – I guess we are all going to find out.
Popularity: 6% [?]
Google+The Secret of Facebook’s Spam Problem
November 30th, 2010
Facebook Spam
As the social channel continues to grow, spammers are finding ways to test the platform and developing applications that target fan pages with large followings. Brands and agencies are fighting back with tools and applications that remove spam wall posts in near real-time. Trouble is, no one can keep the wall post from going up on the page – they can only be removed once they actually go up. Facebook does not allow anyone to pre-screen wall posts before they are published…at least for now.
Spam posts can be seen on all of the biggest fan pages, such as Red Bull – at the time of this post I simply went over to the page.
So what can a brand or agency do to combat the spammers? Well, Facebook introduced the ‘spam’ filter for the wall – admin’s can easily see it when they are logged in. Trouble is, this is still a work in progress and sometimes catches valid wall posts and misses spam posts. So the next option is to install an application like Context Optional or Vitrue – but it comes with a price tag. In some cases pricing is based on your fan page size, and sometimes pricing is based on how many fan pages you wish to monitor. The benefit of these applications is that they enable a 24/7 monitor on your fan page – pulling down unwanted posts with a minute or two after they go up. The filtering is usually based on keywords that you enter into the application – it pulls down posts containing offensive or spammy words that you pre-determine.
The spammers are getting smarter though, and adjust their posts accordingly. They change profile names, application names and more – making them difficult to block, and difficult to ‘catch’ 100% of the time. Facebook is definitely working on it, but it will be an evolving struggle – as spammers adjust to ‘beat the system.’
So for those of you with large fan pages on Facebook that are receiving spam, it’s par for the course at this point in time and the best you can do is to install an application that will filter the spam posts immediately after they go up. Another best-practice social media tactic is to make sure your wall view is set to ‘only posts by page.’
Admin Settings
This is because most spammers will post directly to the wall, and not to a comment thread. So, for example, Red Bull has ‘Just Red Bull’ as the default wall view – so most of your fans won’t see the spam posts unless they manually click to change their personal wall view to ‘Red Bull + Others.’
Wall View
LinkedIn‘s checks and balances in communication do a good job of keeping spammers out of the picture. This has a lot to do with why the network is so professionally oriented.
Twitter has some checks and balances in place and third party apps like TrueTwit so things haven’t gotten too crazy on the platform – though with so many messages it’s sometimes missed as just part of the daily ‘chatter.’
Spam…we wish it were just a canned food.
Popularity: 7% [?]
Google+The Not-So-Secret Move by Facebook
November 23rd, 2010Starting sometime around last Friday, some Facebook users saw a small message at the top of their browser that asked users to set Facebook as their default ‘homepage.’ This was no small move, since search engine like Google have long since enjoyed positioning as the #1 online destination for users (Google was surpassed by Facebook as the #1 online destination in the U.S. in March and surpassed by Facebook using the ‘time on site’ metric in September).
Facebooks not-so-secret move
Case in point, doesn’t this look like an interesting direction in ‘photo search’: Facebook is testing a ‘Quick Link’ feature involving photos of users. The obvious next steps would be video, events, etc. Obviously, Google offers segmented searches for videos, images, photos and more. Though Facebook is currently gearing the search feature towards profiles on Facebook, the logical extension would be to apply it to all content on Facebook (Fan Pages, Groups) and all the content they can bring into their search results.
Here is a screenshot of the callout asking users to change their ‘homepage’:
Making Facebook your homepage
Popularity: 5% [?]
Google+Facebook’s modern messaging system: Are you cool enough for an invite?
November 16th, 2010
Facebook Modern Messaging
While some of this makes great sense, it sounds a lot like ‘Google Wave’ – for those of you that don’t know. Google Wave was released a few years ago as a new product for Google. It was basically a way to keep a collective stream of communication between you and your contacts all in one place, a lot like the new Facebook product (in concept). But, Google finally pulled the plug this past summer on Google Wave, since the product wasn’t really catching on – despite all the hype it first received as ‘an email killer.’ There are many reasons it may not have succeeded: adoption didn’t penetrate the market, the product may have needed some improvements, the public may not have been ready for this product just yet. Whatever the reason, it was shut down.
Now, Facebook is making a play for ‘collective communication’ in a very similar fashion. They are even using a similar strategy to how Google Wave was released – by invitation only. So the question remains, are you cool enough for a Facebook modern messaging account invitation? Facebook is counting on viral invites to take this product to market. What better platform for it, than Facebook, right? BUT, there are already those that feel this won’t serve up a massive amount of penetration for the older demographic that still prefers ‘formality’ in communication – even with friends. And certainly, for all professionals in careers that rely on communication skills it won’t be an appropriate alternative to email.
Email isn’t going away anytime soon, but a collective ‘stream’ of communication all in one place makes a lot of sense – and our communication methods are evolving. What does this mean for brands trying to reach consumers, or businesses in a B2B model? Stay tuned.
Popularity: 6% [?]
Google+Find and leverage your influencers in social media
November 9th, 2010
Social Media Brand Ambassadors
Brands and advertisers seek to find the ‘influencers’ and leverage the connections and the equity of these influencers to maximize the power of their initiatives. In effect, these influencers are the equivalent of the ‘blog moguls’ of the previous years and even today. Tools and applications developed for platforms, like Facebook, will help identify these influencers more readily.
Take, for instance, Bamboo. Bamboo is a loyalty application for Facebook and Twitter. In the Facebook application, it allows fans to become ‘brand ambassadors’ by going to the brand fan page and installing a ‘brand tab’ on their own profile. To clarify, for example, say you go to a fan page like Renuzit (full disclosure: shameless plug, we at Revolution Digital launched this fan page a week ago and have already grown it to almost 100K fans). The Renuzit page would have a specific tab (if it were using Bamboo) whereby you would see the benefits of becoming a brand ambassador. This includes incentives based on the performance of your activities on behalf of the brand, and also the effectiveness of those actions. So, step one (as a user) is that you read this tab and decide to become a brand ambassador – so you proceed to step 2.
Step 2, you install the Renuzit tab on your own Facebook profile. In essence, a brand can increase their fan base reach overnight. The average Facebook user has 130 friends per Facebook so if even 10% of the 100K fan base (10K) downloads the Bamboo application it can then immediately extend to the reach to the personal network of each fan, in a much deeper penetration. So a brand fan pages reach potential increases from 100K to 230K (10K download the loyalty app x 130 friends each = 130K additional reach potential). Now, after installing this tab on their profile, brand ambassadors will each basically have a ‘mini-brand tab’ on all of their profiles which can include things like a ‘company store’ (each purchase made is tracked and the brand ambassador receives points for all purchases made), pre-determined wall posts to publish on behalf of the brand (brand can control frequency of these posts to avoid ‘spamming’ concerns), and more. All of this is backed up by a powerful dashboard of analytics.
Brand ambassadors compete in a ‘leaderboard’ style comparison to view their standings, and the rewards/incentives for the leaders can be determined by the brand. Be careful here, though, because that is where a ‘game’ can become a ‘contest’ and therefore all of the promotions guidelines effective on Facebook will apply. But, there are still many creative ways to reward and motivate your brand ambassadors.
Best of all, according to a recent discussion we had with a representative for the Bamboo loyalty application for Facebook, pricing is scalable and brands are charged based upon the actual ‘reach’ accomplished with the application. A very fair way to keep the cost of entry low, and encourage trial of the application.
One important consideration is the ability to customize the application in many ways, requiring some technical/creative support resources according to the level of customization the brand requires.
According to a Mashable article published today, display ads on Facebook were served up 297 billion times in the third quarter of this year. That’s 23.1% of the entire market. The power, analytics, precision and activity surrounding the social platforms will continue to drive the new age of advertising into bigger and bigger digital budgets. Loyalty apps, like Bamboo, are just the beginning of all the ways brands will be able to magnify the potential of the developing digital landscape.
Popularity: 8% [?]
Google+Facebook’s Big Announcement Today
October 6th, 2010
Facebook New Product: Groups
The solution? Facebook groups – a new product that lets you quickly create a personal group. Now, you will share your content only with those specific friends. You can even chat as a group now, in Facebook chat. Previously, you could only chat one on one.
Here’s a great video from Facebook that shows you how it works:
What does this mean? Probably more sharing, now that it’s as easy as clicking a button to start a personal group and keep your shared content for the right audiences – and with the added ‘chat as a group’ feature, more people will likely adopt the groups product. The basic idea here, is that some will create groups and for those that don’t, it will be likely that they will be ‘invited’ to relevant groups from friends that create them. Therefore creating a ‘closed’ personal sharing exchange between the group and encouraging increased sharing, because now your content is only being seen by the people you want to see it (work groups, family groups, etc).
What do you think? Is this easier?
Popularity: 5% [?]
Google+The Democratization of the Internet
September 27th, 2010
Facebook 'Page Browser'
So what does this ultimately lead to? It’s a form of SEO in evolution. Why? Because it takes into account your network, as it serves up all of your results. As an avid SEO reader for many years, it was easy to see the correlation between social and search coming for quite some time. Search engines serve up results by ‘link popularity’ (among other factors) to users, and the results have continued to evolve by geo-location (local search results) and some social media results (Google’s Social Search). But the evolution of search results needs to take into account the ‘network’ of the search engine user. Why? Because I am 10x’s more likely to trust a resource that a friend of mine used than a resource that I have never heard of before and neither has anyone that I know. At the very least, I can ask the person in my network about the resource, product, or item – now I can find more credible results, faster.
My point is this, the ‘Page Browser’ is one of many steps currently active within Facebook that will impact the way online marketers optimize for search engines and reach new consumers. This particular step isn’t as obvious, but consider how strategic it would be for brands that find a surprising correlation between their brand and a non-competitive brand through such a system. Co-promotions, shared loyalty programs, and leveraging mutual influence could become a much stronger form of strategic operations than they already are. The information has never before been seen in such a ‘real-time’ collective resource, and the impact will continue to evolve.
What do you think of search engine results derived from among your personal social network first?
View the new Facebook feature here: http://www.facebook.com/pages/browser.php
Popularity: 4% [?]
Google+Can Google Me and Facebook coexist?
September 20th, 2010
Google Me
According to WebPro news, Google Me stacks up against Facebook with a huge vengeance. In fact, looking through the list of Google properties (YouTube, Picasa, Buzz) one could see that Google has all the elements of Facebook (Video, Photos, Status Update, etc) just not collectively organized and integrated for a streamlined user-experience.
But what if Google could pull this off? (collectively streamline all of their properties)
Obviously, not in the same execution as Facebook – but in a way that makes sense considering the massive volume of features and users across all of Google’s platforms. It seems as though the development of Facebook and Google have been on a collision course for many, many years and now that the two are the main entities vying for position as ‘destination #1′ for web users, both will need to emphasize strategic advantages and leverage all elements of their portfolios: function, sharing, speed, multimedia, and anything else in their arsenals. Google is still the ‘giant’ in terms of valuation, of course, at $100+ billion – while Facebook is at $33 billion in valuation.
Add to this the continued evolution of mobile and competitive advantages in mobile technology for advertisers and users – and it’s no wonder there are rumors of ‘Facebook building a phone‘ – which Facebook officially denies.
Who do you think has the competitive advantage here, Facebook or Google? Why?
Popularity: 3% [?]
Google+Google vs Facebook
August 9th, 2010
Google vs Facebook
In March of 2010, Facebook surpassed Google as the number 1 online destination in the United States. The final ‘nail in the coffin’ so to speak, demonstrating that Google could no longer dismiss the competitive rise of the rival. Though Google has made some attempts along the way to create potential communities that could compete, seemingly with a lack of urgency and dedication of resources, now everyone is looking for the release of ‘Google.me‘ – could this be a ‘last stand’ for the search engine giant?
Probably not, but there is no doubt that the longer it takes Google to figure out how to translate it’s ‘search engine/link driven democracy’ into a social ‘voting/like button driven democracy’ the more ground it stands to lose. Facebook has the competitive advantage, having the retrospective of how search engines operate (algorithms, links, etc) but the reverse isn’t true, since there has never been a social community with the size and force of Facebook. Leaving Google scrambling for strategic opportunities.
The bottom line is that further democratizing the web through the organic power of social interaction is much more efficient, effective, and powerful than links and algorithms. After all, we haven’t yet created fully functional artificial intelligence, so how can algorithms beat the opinions and actions of the dynamic masses clicking the ‘like’ button and voting for the most interesting, useful, and meaningful content?
Good luck Google.
Popularity: 3% [?]
Google+Social Media Influence: The Power of Group Buying
July 27th, 2010
Group Buying Power
Beyond these tools, there are other platforms that help to leverage the social media ‘concept’ by, for instance, focusing group buying power. The best example of this is Groupon. Groupon, featured on multiple national news outlets, has been an incredible boost for many small businesses – and the potential for major brands may be just around the corner. The basic is idea is that your business offers a special, but requires a minimum threshold of buyers to activate the special. If the minimum isn’t met within a certain time frame, the deal is off – and the business pays nothing, the consumers pay nothing. But, if the minimum is met, all consumers make the required purchase and Groupon sends a check the same day to the business. In other words, offer a special and if everyone buys – you win, and Groupon only takes a percentage of the resulting transactions. Otherwise, it costs you nothing.
Here is the video, explaining how it works:
Learn How Groupon Works! from The Point on Vimeo.
Popularity: 5% [?]
Google+