Just as Facebook’s shares seem to be recovering from their post-IPO plunge, the company has been forced to agree to significant changes in how it manages its Sponsored Stories, one of its most effective and lucrative advertising tools. To settle a lawsuit, Facebook has agreed to allow users to see how their activity on the social network is used to generate ads and to opt out of Sponsored Stories altogether if they want. The changes could have a significant impact on Facebook’s monetization prospects going forward.
Facebook is planning to upgrade its premium ads on February 29, with the goal of boosting performance by 40 to 80 percent, according to documents obtained by iStrategyLabs’ Peter Corbett.
How To Succeed In Business Without Really Trying is making a big push on Facebook, with a contest to find its biggest fan by asking users to record video testimonials. Those testimonials become great word-of-mouth advertising for other potential theater goers.
The future of coupons is moving toward digital and mobile, something that startup SavingStar is taking full advantage of. The company told me it has hit half a million users since it launched its ecoupon product in April, putting it on a faster pace than Groupon’s.
There is no doubt that Facebook is the 900-pound gorilla in the world of social networks. But recently I read a post about Facebook being better than Twitter for business, and I don’t think that’s always true. Granted, I recommend Facebook Pages to my clients, swoon over Facebook’s Social Ads program and am grateful for the information I can gain from Facebook’s Insights. However, the most important things to think about when utilizing social media for business are:
- What are your business goals? What are you trying to achieve?
- Who are you trying to reach? Where are they talking?
- Where are the conversations happening around your company or brand? How can you appropriately join the conversation?
In a direct fight between Twitter and Facebook for business — which is challenging, because Facebook and Twitter are two distinctly different kinds of tools with different functionality — I can’t say that Facebook always wins. Let’s take a look. Read More about Is Facebook Really Better Than Twitter For Your Business?