Welcome to the first of many social media recaps that will be featured right here on our eMarketing blog. We will be gathering a weekly digest of the top stories and latest happenings within the social media sphere, and from these headlines offer our suggestions and conclusions on what the overall impact might be for marketers and casual users alike.
This week, not unlike any other, threw us some interesting developments in the social media world. Most of the buzz was focused on new Twitter and Facebook developments, both good and bad. YouTube also managed to make news with a new revenue sharing platform, in addition to lending a helping hand to Lindsay Lohan.
Without further delay, here are the top social media headlines for the past week:
• Facebook Privacy Changes – Facebook has been falling into trouble lately with Canadian authorities due to being in violation of the country’s privacy laws. In particular, the privacy issues which surround the retention of customer data after a user cancels his or her account. This could cause wider implications for other social networks concerning the way user data is currently being handled.
• Should Twitter Sell? – With strong competition coming from Facebook’s end, especially after the recent FriendFeed acquisition, many individuals have suggested that it might be time for the popular micro-blogging service to sell out to a larger and stronger partner. However, while it might be profitable prospect, there is still a debate over how much growth the service still has left in it, and therefore this decision should not be taken lightly.
• Woofer – 140 characters holding you back from what you really want to say? Why not use 1400? Enter Woofer, a carbon-copy of Twitter that alters the service from a micro to a macro-blogging atmosphere. Just sign in with your Twitter name and Woof away!
• Bit.ly and Yfrog Partnership – One of the most popular URL shorteners available on the web partners with Yfrog, a current underdog in the Twitter picture-sharing landscape. The result? Much trouble for TwitPic, currently the leader in this segment.
• YouTube lends a helping hand to Ms. Lohan – The LAPD released video footage of an apparent break-in of Lindsay Lohan’s home with the hope of catching the three suspects. Even police departments these days are realizing the true potential of social media.
• YouTube Videos a Source of Revenue? – YouTube announced that it may soon be offering money to individuals whose videos have a specific number of views and the potential to go viral. The source of the income? Advertisements that the service will sell against the video.
• Social Media Use in Companies Continues to Rise – In a recent report by eMarketer, it was found that currently 59% of brand marketers are now using social media. What’s really interesting is that within 12 months this number is predicted to jump to 82%. The most popular social media channels? Facebook, Twitter, online videos, and blogs.
Canada continues the trend of cracking down on privacy issues that have been surfacing recently due to increased usage of social media outlets. The result could be stricter laws and regulations across the board, with increased security for users, but also a decline in the ability for companies and other services to gather important statistics on potential clients.
Twitter is again in the news thanks to Facebook and bit.ly. Certainly the partnership of bit.ly and Yfrog will mean TwitPic must scramble in order to retain its dominating market share, that is if Twitter is still around in its current form. Though Twitter adamantly denies it is for sale, the prospect is that there is a lot of money to be made. The key in this situation is determining whether the service has any significant additional growth, as selling out too soon could result in lost profits for founder Biz Stone.
Speaking of profits, the fact that popular videos on YouTube, which meet the correct guidelines the service has laid out, can soon be making an income from ad revenue is a pivotal move forward, and might even serve as an incentive for posters to submit higher quality material. It is interesting to see that as the service continues to grow and transform, even police departments are jumping on the social media bandwagon, with the LAPD revolutionizing the way we will search for suspected criminals. Could this be the beginning of social media law enforcement?
The fact of the matter is, social media is here to stay. The eMarketer report only solidifies this position, as 82% of companies within the next 12 months will have integrated some sort of social media platform into their marketing programs. Only 13% have said outright that they do not use, or are not planning to use, social media any time soon. The main reason? They just don’t know where to begin. This is why it’s important to find a social media marketing company who has a clear strategy for this revolution. They can provide insight as to why social media marketing must be a pivotal aspect of any successful company’s overall business plan.