Saving Face(book) With Advertisers

By WEALTH Magazine Staff

With social connections all the rage, a perpetual question is now coming to a head in the public square: Do Facebook ads really work? And for that matter, do ads really work on any social media destination? GM’s Joel Ewanick said its paid ads on Facebook haven’t done much for car sales. Now Facebook is on the offensive with GM and other skeptics, saying that advertising definitely does work.

Who is correct? More likely is that both sides are correct…and incorrect. Traditional advertising–with its old-school methods, expectations and metrics– doesn’t work well on Facebook and other social channels.  But using Facebook to sell products–well that’s a different thing altogether. It takes a much different approach that will challenge any legacy company that grew up decades ago.

But GM seems to be on the right path, seeking new content-driven approaches on Facebook and beyond. Let’s hope that–in support of radical openness (view recent TED talks)–GM and Facebook keep their tussle and journey in the public eye. It will be good for PR, good for their businesses, and good for the rest of us too.

Print Friendly

How a Smartphone Can Help Your Wallet and Portfolio

By Daphne Sashin

Smartphones, now owned by more than 45 million Americans, are the Swiss Army knives of the 21st century. They serve as video cameras, stopwatches, navigation devices, flashlights—even TV remote controls.

Advances in mobile phones are also changing how the world manages money. You can pay bills, get up-to-the-minute stock prices and file expense reports without ever sitting in front of a computer.

“There’s been a real demand on financial institutions to get more active in the mobile space,” said Jeremy Sokolic, director of marketing for the mobile financial information firm CarryQuote. People can get so many things on their phones that help them in their day-to-day life, More…

Print Friendly

How to Maximize Your Impact on Social Media

By WEALTH Magazine Staff

Pretty much every business in the world has a social-media presence now. But just having a Facebook page or Twitter account isn’t enough—not if you want to get the most out of these sites for your business or personal brand.

Think of social media as a community, one in which you or your business must take an active role. In fact, you need to do more than participate—you need to create a community of your own. That means you need to provide unique and timely content that effectively competes for your readers’ attention. Entertain, inform and engage.

Here are some tips on how to do that: More…

Print Friendly

Put Mobile First in Your Internet Marketing

By WEALTH Magazine Staff

Almost anyone who runs a business has a website. It’s a no-brainer, as more and more people are shopping on the Internet.

Perhaps you’ve taught yourself about search engine optimization, or hired someone to do it. Heck, you’re even involved in social media.

Think you’ve got online covered? Maybe not.

Did you realize that by 2013, analysts estimate, more people will access websites through a mobile device than through a desktop?

Have you ever tried looking at a website with a cell phone? More…

Print Friendly

No One Can Afford to Ignore Social Media

By WEALTH Magazine Staff

If you’re a regular visitor to this website, you know that we write and podcast often about the impact of social media and why it’s important for you to be involved. Whether you’re an investor, a business owner or just a consumer, social media is an arena that no one can afford to miss out on.

Let’s review 10 facts about social media:

1. Facebook has more than 550 million active users. More than 200 million access Facebook through their mobile devices. And people who use FB on their mobile devices are twice as active as non-mobile users. More…

Print Friendly

Beware the Business Pitfalls of Social Media

By WEALTH Magazine Staff

WEALTH has written and podcasted a good deal about the potential of social media. After all, most of the country uses Facebook, Twitter or other social media sites, and they can be a great way to connect to customers and keep tabs on business competitors.

But there are some real downsides to social media. Whether you are an employee or the CEO of a big corporation, you need to know the kinds of activity to avoid.

Proofpoint, an Internet security firm, reports that 17 percent of large companies report having issues with employees’ use of social media. And 8 percent of those companies report having actually dismissed someone for their behavior on sites like Facebook and LinkedIn. More…

Print Friendly

How to Kick-Start Your Fund-Raising Needs

By Martha Fry

The concept of crowd-funding is nothing new. Some say the White House was won in 2008 with $20 at a time in campaign contributions. Charities often rely on small amounts from a vast number of supporters.

Venture capital funding, however, historically has taken more traditional routes—until now. With the advent of online social networking, entrepreneurs with limited funding resources are turning to the burgeoning business of crowd-funding websites.

The model is a simple one: Promote your idea. Ask others to put up cash. Offer rewards. Receive funding. Bring your project to life.

Artists maintain creative and financial control. More…

Print Friendly

All About Search Engine Optimization–-Why Should You Care?

By WEALTH Magazine Staff

Search engine optimization is a familiar term to anyone who is in charge of a website. In short, SEO is the practice of making sure search engines like Google will not only find your site but also rank it as high as possible in the listings.

SEO has been in the news recently because Google has penalized some companies for trying to “game” its exclusive, and largely secret, algorithm-based system of ranking search results.

If you have a business, you want to be high in Google’s rankings More…

Print Friendly

Use Social Media to Build Business Relationships

By Daphne Sashin

Networking sites such as Facebook, Twitter and YouTube can be powerful tools for spreading buzz about your company. But there’s a lot more to successful social-media marketing than just starting a blog, setting up a Facebook fan page or auto-following 20,000 people on Twitter.

“You can’t go into it thinking this is a cheap way to do advertising. It’s a new opportunity to create a new relationship with your customers and people considered influencers in your world,” says James Andrews, co-founder of Everywhere, a social-media marketing agency in Atlanta. “It’s not a place just to continually sell, sell, sell.”

WEALTH offers 10 tips for promoting your business effectively on social media: More…

Print Friendly

Can Video Spice up Your Website?

By Christopher Boyd

Videos are sweeping the virtual world, turning static websites into animated circuses filled with product demonstrations, testimonials and entertainment.

Online retailers who long relied on photos and a short blurb to describe merchandise are using videos for added punch. Whether it’s selling a vacation destination or a hot new SLR camera, motion is quickly defining the medium.

As video moves from YouTube to everybody’s computer screen, businesses are asking how to skillfully revamp their sites. A clever production might draw customers, but a lame one could just as easily entice a Web surfer to move on. More…

Print Friendly