Tag Archives: social media

JP Morgan Twitter Disaster

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Even if social media is something companies should tap on for the growth of their business, companies should still research and assess whether their type of business really suits social media. Social media is great but it’s not for everyone. Just early last week, JP Morgan‘s Twitter #AskJPM campaign turned into a fiasco. Considering the bad presses they have been getting for the past year, this move probably wasn’t the smartest thing for the company to do.

Below are some of the tweets that proved the campaign was a disaster:

 

It took six hours before the people behind JP Morgan’s Twitter account decided to call it a day for their campaign.

 

While six hours can be a long time to realize that the campaign wasn’t doing any good for the company, I think it was still relatively good for the people behind their social media team to be able to react to it within 12 hours. While this campaign is certainly a disaster, I think it would be quick to say that JP Morgan is that type of business that can’t benefit from social media. A Q&A campaign might not exactly be a bad idea for JP Morgan, but the way it was executed was definitely done poorly. If only JP Morgan had made a more thorough assessment of the Q&A campaign and recognized any potential backfire situations that may occur, then maybe, this campaign might have been not as bad as it ended it to be.

I think one of the things JP Morgan could have done to at least have made the result more favourable is changing the way they marketed the #AskJPM.

Based from the tweets above, it seems like JP Morgan just marketed the campaign as a Q&A. The scope and what this campaign can do for its followers (ie. Q&A for graduating students who want to work for JP Morgan) were not mentioned. It practically seemed that it was Q&A for all and that anything goes. And I guess JP Morgan can’t really blame Twitter users to be asking out-of-this-world questions. By marketing the Q&A campaign as an opportunity for interested graduating students to learn more opportunities in the company might have yielded better results.

Q&A campaigns can really yield good results even if the company doing the campaign has been having bad press or is known for some few bad things. A good example of this would be McDonalds. Their yourquestions campaign proved to be successful even though a lot of people have negative views on their food. This shows JP Morgan could have actually benefited from their #AskJPM campaign if they have only stated what the Q&A was for, just like how McDonalds clearly stated that the yoursquestions campaign was for consumers to ask any questions they have about their food.

 

 

Facebook Might Be Losing It

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Back in the early 2000s, Friendster was the biggest thing in the Philippines and was essentially the Facebook of people back then. Not long after, Multiply was the biggest thing. And at least in the Philippines, the rapid adoption of Multiply marked the demise of Friendster. I know myspace was huge in North America, but in the Philippines, that was not the case. Following Multiply was Facebook. Just based from these, it seems that social media platform, albeit widely used at that time, do not last for more than a decade. And I think Facebook might be nearing its end soon.

In 2008 when I first started using Facebook, I found Facebook an all-in-one online platform wherein I can have fun playing online games with my friends, interact with them and share things I enjoy. This might one of the many reasons as to why Facebook was quick to replace all those other social media platforms. However, I can’t speak for everyone, but in 2011, I started losing interest on Facebook. I saw a trend where people in my network started being less active online – less were playing online games and less engagement in general. A recent research done by GlobalWebIndex confirms the decrease in activity of Facebook users, especially the teens. The research defined “active on Facebook” as doing more than just “liking” a separate page on the web and was done surveying teenagers in 30 countries. These teenagers seem to be shifting to mobile chat applications, such as WeChat, and photo-sharing apps namely Instagram and Snapchat.  Tom Smith, CEO of GlobalWebIndex, said, “There is a clear, definitive shift to mobile in general..”

I think one of the many reasons behind this shift to mobile apps is not necessarily because teenagers are more on their phones than computers, but because things that you can do on Facebook are starting to decrease. With people being less active on Facebook, there is only so much you can do on an online platform that is based on social interaction. What do you think?

Instagram Ads may be the next Pinterest in producing business results

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While going through this article that talks about the success of Instagram ads, I saw some thought-provoking comments from readers. One that really struck me the most was this:

The article talked about the yielded results from Michael Kors’ Instagram ads which led to 33,000 new followers and a 370% increase in likes. This then begs that question: Now what? When you think about it: Instagram ads, if it persists in the future, makes Instagram very similar to Pinterest. Similar in a way that these Instagram ads, when done in a right way, can also lead to consumer purchases just like how Pinterest is subtly able to do.

To answer Ron Schott’s question, companies who benefit from these Instagram ads through increase in number of followers and likes, can gear their Instagram ads to also produce business results. By strategically using attractive and relevant photos and subtly providing a link of their website on the photo caption, these ads can also result to consumer purchase.

As a consumer, if I keep seeing sponsored photos like these on my newsfeed, given that its not excessive, it would not take too long for me to actually seriously consider buying a Michael Kors bag. Keeping one’s brand relevant and visible in consumers’ daily lives can really eventually led to consumer purchase.

I don’t know a lot about the technical back end side of Instagram, but if if they can customize the platform in a way that Instagram ads for Michael Kors (as an example) will only show to its intended target market, Instagram ads might be a better option for companies than have affiliated marketing with Pinterest, as these (Instagram) ads can be directed to the right consumers unlike Pinterest.

Going back to Ron’s question, what I can say is that having more followers allows for greater reach, while having more likes makes the Instagram ad/post eligible to be placed in the popular page, which increases exposure. These both can lead to higher potential sales, and I think are quantifiable results and real benefits.

Capitalizing on that $1B Acquisition

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I can still remember learning about the news of Instagram being bought for $1 billion by Facebook last year and could not justify the amount spent for the buy out. That time, many saw Instagram as a platform that did not (previously) have a revenue model. Months following the acquisition, I recall having at least two notifications from Instagram about the coming of Instagram ads. My initial reaction was annoyance and maybe a hint of indifference. Probably not as forward-thinking as the people behind Facebook, I never really saw how Facebook could capitalize on Instagram through ads. Reading this article, however, made me have a different perspective of Instagram ad – I thought Instragram ads may not be so bad after all.

How these ads work (it seems like) is that these ads will appear on your newsfeed and/or on the popular page. Michael Kors, aside from GE, was one of the first few brands to try Instagram ads. From the article above, their Instagram account experienced tremendous growth in likes and number of followers. However, it was not surprising to find out that there were some negative comments (20%). Personally, I think this will just be a phase and that consumers will start getting used it to eventually. I actually do not mind having nice ad photos on my feed once in a while. A maximum of three ads evenly spread out on my feed would be something tolerable, if not appreciated, only if it is smart images and attractive content.

As mentioned by this article by Forbes, image-centric networks will see tremendous growth as visual content is becoming more critical in the success of online content strategy. That said, there is real potential for Instagram ads. Cost of the ads do not seem to be public yet, but based from the strong results of these first Instagram ads, it wouldn’t be surprising if its very costly. Should Facebook set strict but not entirely limiting guidelines (for the benefit of ad buyers) on what content should be on Instagram ads, then Instagram ads may just solve some of the challenges faced in online advertising.

Utilizing Video Apps for Businesses

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With apps such as Vine and Instagram where people can easily share and record a short video, it’s interesting to see that not many companies use them to further expand their businesses. This is not to say that all businesses should start using these apps. Companies should still research and recognize whether using these social media platforms would be optimal. But two types of businesses that I have in mind that would be great to tap on the opportunities these video apps provide would be gyms and other recreational facilities. While I have seen a number of small business owners of recreational facilities who use Instagram to showcase their services, there are very few big commercial recreational facilities that do this.

In general, one of the many things that hinder consumers to try new things (products, sports or activities) is the uncertainty of only knowing the possibility of not liking these once a commitment has already been made. Specifically for gyms and recreational facilities, commitment happens once you have already signed up for a contract-based membership. To mitigate this barrier, companies have been offering one free trial sessions or paid drop-ins to check out the facilities. However, this is not enough. Having to base one’s decision with only one experience, given that most commercial recreational facilities do not have drop-in options, can be a stressful and daunting process, especially when the next thing you can only do is to commit to a yearly contract.

In addition, these free trials can mostly just attract already interested individuals. As a business owner, you would also want to attract individuals that may be interested but need a little push, which can just mean getting information without putting too much effort. Allowing your prospective clients to observe in their own time and without extra cost what your services are like by posting casual short clips of activities or your facilities can prove to be beneficial in the long run. For better results, it would be ideal to have your clients be the one posting on Instagram the activities they do while at your facility rather than through the company’s account. This is because consumers tend to be more skeptical if they see pictures or videos uploaded from the company’s social media accounts, as consumers may think this is just advertising and it’s not genuine. One way to encourage your clients to post Instagram videos about your facilities is by offering discounts or prizes by posting videos.

By getting on Instagram and Vine, gyms can better showcase what they can offer as well as gain further reach to consumers. Gyms and recreational facilities whose target market are young professionals or college students may see the best results from using these video apps as one of their digital online marketing strategies.

Samples:

http://instagram.com/cjaplyo2

http://instagram.com/boksantos

Social Media Habits of Sports Enthusiasts

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Now midway into our course and project, I have been constantly thinking what social media platforms should my team’s client use that can give optimal results. For reference, our client is a local sports bar located in the heart of Richmond. My team and I have spoken with the General Manager and his business partner on who their target market and what their long-term goals are for the pub. They both have explicitly mentioned that they want to their pub to be known as a sports bar and intend to primarily attract sports enthusiasts. While they do have wings night and other promotional deals, they hope to attract consumers through their the fun, lively and sports-oriented pub atmosphere.

As someone who does not consider herself as a sports enthusiast, I found it rather challenging on deciding what social media platforms and digital marketing strategies would best fit a pub like our client’s. I initially thought of Twitter as of the one platforms that should be used. But instantaneously, I thought to myself – wouldn’t sports fans be usually glued to their TVs or streaming websites when watching a game and wouldn’t be bothered to be on any social media platforms?  However, I was proven wrong by a research conducted by Catalyst.

Catalyst surveyed 2,100 sports fans between ages of 16 – 64 to identify where sports fans hangout online and where they can be best reached. While a couple of thousands do not entirely represent the whole group of sports fans, their research can still be useful and can be used as a starting point. The research shows that the number of correspondents who uses Facebook is almost double the number of correspondents who uses Twitter (stats: 73% to 37% respectively). However, on the game day, Catalyst found that these correspondents check their Twitter about 1.5 times more compared to Facebook. This information can prove to be valuable to sports pubs that are looking to gain more awareness to sports enthusiasts. Additionally, their research also found that after the game day, Instagram is the most used social media platform, with Twitter placing in 2nd.

Based from these findings, it would be ideal for our client to both use Twitter and Instagram to their advantage during game days. Catalyst‘s research also shows fans are more likely to be engaged on social media if the content has something to do with pre-game excitement, historic nostalgia photos and videos and friendly game debates. In line with our client’s long term goals and intended target market, a strategy then can use to further attract sports fans to their pub would be to tweet about what the current atmosphere is like at the pub and complementing it with a Instagram video or photo to support the statement. By doing this, our client will be able to showcase their pub’s atmosphere – the fun, lively and sportsmanship environment –  and potentially attract new customers.

In conclusion, the biggest takeaway that I have got from this is that it may prove to be more effective to use Twitter and Instagram as complements of each other rather than pairing them with any other social media platforms. This is not to say that our client or any sports pub has to completely get rid of their Facebook page and other social media accounts. However, if the intention is to have conversations and be engaged with sports fans, Twitter and Instagram may be the best options.

Infographic by Catalyst:

Source: http://mashable.com/2013/10/03/sports-fans-social-media/