I was googling “online marketing” and one of the links directed me to a government website. I was curious. I did not expect my search will result in a government website. So I clicked it. Evidently the Canadian government’s Government Services for Entrepreneurs is promoting the use of online marketing. It is low cost and easily accessible by consumers. The importance of online marketing is even recognized by the government. They recommended 13 online marketing techniques and a brief description of each on their website. I’m taking an e-marketing course and I might have trouble to come up with 13 low cost online marketing tools. The link is provided, see how many of the 13 online market techniques are new to you.
I started using Facebook back when I just entered University. Facebook was becoming popular at that time. My wall was mainly dominated by my friends’ posts and pokes. Now, I see a lot of Twitter updates, YouTube videos, Pinterest pictures, and links sharing on my wall (I have not upgraded to timeline).
Social media has become more dependent. Social media website’s business model depends on its users’ activity. Firms seeking marketing opportunities are willing to spend more on websites with bigger user base and user activity. Thus, social media sites partners with each other to increase the amount of sharing opportunities for its users. This increases social media website’s bargaining power.
The integration between social media websites are important for growth. Pinterest’s recent growth is a result of integrating with Twitter and Facebook. And it is not just social media. Many users can log onto various websites using their Facebook account. The convenience and sharing capabilities promotes interactions and acceptances. Eventually, the majority of the website will adapt to this new trend.
I mentioned how YouTube took advantage of the power of the Internet and made a business model out of it. Now I will talk about one of the many celebrities on YouTube,
Philip DeFranco (aka sxephil), who took advantage of YouTube and made a business model out of it.
Last year a study was released by TubeMogul regarding how much the top 10 YouTubers make a year. And the estimated amount is greater than $100,000 a year. And this estimate is only based on banner ads. For more info and a list of the top 10 YouTubers, visit this link: http://www.businessinsider.com/meet-the-richest-independent-youtube-stars-2010-8
The last time I uploaded a video on YouTube I do not remember receiving any payment. So I assume that these top YouTubers make their 6 digit income by advertising. YouTube channels are taking over TV channels. Why? Half an hour ago I was walking past the silent study area in CLC. I saw at least 3 people on their laptop watching videos on YouTube. It is convenient, much more selection, and almost free.
Philip DeFranco started his YouTube career in 2006. The cost was probably less than $300 (for the camera). In about 5 years he has 10 employees, 2 companies, and a huge office. Here is a link of a recent event Philip DeFranco held in his office:
Noticehow spacious the office is, it is huge. He currently has 2 million subscribers and is the 15th most subscribed YouTuber. His recent videos are a million views.
It is known that Philip DeFranco had accepted payments to make videos for Jr.Carl’s burger and television series Fringe and Lie to Me. He also accepted sponsorships from State Farm Insurance in return for mentioning State Farm Insurance in his shows. But the main source of a YouTuber’s income is banner ads. Banner ads revenue is dependent on clicks and this depends on the number of subscribers. The more subscribers, the greater the clicks. So for those who are interested in making videos, consider sharing your videos on YouTube to earn banner ads revenue. All that is required is a basic camera and some charismatic and you can make a living.
Also, I’m a subscriber of Philip DeFranco’s YouTube channel. He talks about pop culture and current events every Monday to Thursday. The way he delivers news is more amusing than TV news channel like Fox.
Pinterest is a photo sharing social website. Users can manage and post images and videos on a board. Thus, creating a pin board of the user’s interests. Earlier this year, it is reported that Pinterest has over 11 million unique users. It is the fastest social media company to reach 10 million unique visitor mark. It has more than 11 million visits per week. Also, Fox reported that it drove more traffic to retailers than YouTube, Google+, and LinkedIn.
Pinterest is experiencing tremendous growth despite new users must get an invite from current users. But it is undoubtedly that the company will continue to grow to be one of the biggest social media website along with Twitter and Facebook. For a retail company Pinterest is like another venue. Many retail companies have already posted pictures of their products along with prices and links to their Facebook, Twitter, and website. Pinterest is becoming a must for retail companies to connect with their customers. Website with a loyal fan base will definitely take advantage of Pinterest to interact with their customers.
Lately I realize that the 42 inch Sony LCD TV in my living room is covered in dust. The last time I turned it on was probably sometime around beginning of the year.
When I was a kid, back in the 1990’s, my main entertainment was the TV. I watched dramas on it, I watched cartoons on it, I watched VCD’s on it, I watched video tapes on, and played games on it. But some time in the mid to late 2000’s I began to use the TV in
my living room less and less. The internet has become so powerful, that I slowly preferred using my computer. The TV has become an ornament.
Getting back to the main topic – internet marketing. Traditional advertisement was dependent on the the existent of the TV. Companies like NIke, Coca Cola, and MacDonald’s spend hundreds of millions on television advertisement. In 2005 YouTube came along and changed everything. As people migrate from watching TV channels to watching YouTube video, firms came to realize the trend. Big firms started advertising using YouTube. Now when you want to watch a video on YouTube occasionally Ford’s commercial comes up first. I know this trend is not news to anyone. But this signifies that the world is changing because of the Internet. YouTube simply took advantage of it.
