The Collegiate version of the Merriam-Webster dictionary moved into the 21st century of technology this week when they added the words “tweet” and “social media.”
The dictionary company is a little late to the game as the The Oxford English Dictionary had already added “tweet” and “retweet” along with “sext” while the Collins English Dictionary had already added “Twitter” as a verb and noun way back in 2009.
Inclusion in the country’s best-selling dictionary was no small feat, this year the company added 150 words, but only a handful are tech-related such as “crowdsourcing” and “m-commerce.”
Tweet and Social Media take their spot next to other newcomers including “bromance” and “cougar” which refers to middle-aged women who are looking for younger men.
In 2009 Merriam-Webster added their last terms, some of which were also web based including “vlog” and “Pdf.” read more
Although the profession “Social Media Expert” too often sighted is on CVs already, the kids of today have grown up and are ready to graduate as “Social Media Experts”. Although many will argue that Bulletin Boards and platforms such as the Usenet were a form of social media already, it is rather simple to accept that they aren’t representative of Social Media in our day and age.
The students now in high school are the first generation to have grown up with social media omni-present and will soon graduate, and be employed by companies who have social media policies and guidelines. Policies which will restrict freedom to share online. Before being hired job candidates might already be screened and their social media profile might be profiled for your online activity over the last seven years.
Social Media doesn’t have to be as negative or fearful all the time though and the crew at Flowtown have created a great and funny infographic about the social media landscape in 2011. If you were in high school right now, would you be the Digg boy, or the band geek? Or the Jock? read more
Facebook currently rakes in $2 billion per year which has created a secondary market valuation of $75 billion for the social network or the equivalent of 37.5 years worth of revenue. Facebook however has an advantage over other social media company’s, they are everywhere from major websites to local stores where you can buy Facebook Credits.
So what about other social media companies? For example, LinkedIn was recently valued at $9 billion, despite earnings of just $200 million per year and an advertising structure that looks less than desirable? Or Twitter who’s own advertising efforts have left the company with just $150 million in revenue per year, yet an evaluation of $7.7 billion at a time when many of their “sponsored Tweets” attempts have shown lower than expected/desired Click Through Rates (CTR’s).
We can also look at Groupon which is valued at nearly $25 billion with yearly earnings of $760 million to see that the valuation of company’s are out of proportion to their values.
Social media site G+, which is made up of sector professionals and academics has posted the following Infographic about social media valuations. They don’t draw conclusions via the Infographic but it’s a real eye opener when you place these online company’s against brick and mortar organizations who have released their own IPO’s.
Some weeks back, the BBC reported that a 75-year-old woman from Georgia managed to disrupt Internet service in the entire country. She didn’t do so with a DDoS or an LOIC or any other sophisticated hacking tool, but with a plain old saw. To supplement her pension, the woman scavenges for copper. The cable didn’t mean a whole lot of difference for her, but it did mean the temporary paralysis of Internet services in Armenia.
Could it happen here? Of course it can. All it took to temporarily shut down the Internet for an entire nation was an old woman with a saw. What more for an earthquake in Taiwan, or a scavenger in Manila, or someone who trips a wire in the United States?
If there’s anything this story could tell us, all the hype and hoopla about “new media revolutions” seem to be so “up there;” out of the reach of the majority of the world’s population who are not yet “wired.” It’s often grounded on something abstract, like ideas and conversations, when that entire reality is grounded on a very vulnerable network of wires.
Google Offers, a direct competitor to social coupon website Groupon was officially launched in “beta” form on Thursday.
The platform is currently in limited release, offering service in the following geographical areas:
Portland, Oregon; Oakland/East Bay and San Francisco, California: and downtown, midtown and uptown New York City. While those areas are all listed, only Portland is immediately offering beta offers and at this time no deals have been made available.
Google first revealed the program in January. The program works much the same way as Groupon and LivingSocial, however instead of needing to visit a website users receive a local deal each day directly in their email and then have a specific amount of time to act on that deal, more than like 24 hours in most cases.
It will be interesting to see if Google’s failed $6 billion buyout of Groupon will end up being a positive event for the company.
With successful social media campaigns from Kraft Mac & Cheese, Dell Computers, Pepsi and various other “big box” retailers, it shouldn’t come as a surprise that marketers in 2011 are looking to increase their social media spending, however what might surprise some users are the amounts being thrown around.
In a recent poll given to executives and marketers at big box firms including Colgate-Palmolive, Mini USA and Bank of America among others, executives said they planned on increasing their social media ad spends by more than 10% in 2011 on average when compared to 2010. The poll also revealed that of those companies polled, 70% said they would increase spending to those 10+% levels.
When compared to the 13% overall ad spend on TV ads (approx. $68.7 billion) the social media spending number is still rather small ($26 billion last year) however social media as a medium is still rather new and undiscovered and underutilized ad channels are still being implemented and tweaked for launch, which in turn will allow for a more rich marketing experience than what is current offered via TV ads. read more
An intern managing Marc Jacob’s Twitter account had a meltdown and Tweeted late Friday night about his very public resignation and some very select words aimed at Jacobs himself.
An unnamed intern who was managing the Marc Jacob’s Twitter account until a replacement was found let out some revealing Tweets about Jacobs and the job. Last month a search was held for anyone interested in running Marc Jacbob’s Twitter account. Applicants were required to Tweet something clever and about 50 were chosen then dismissed according to the Twitter rants below: read more
Charlie Sheen’s line crossing antics have made a massive impact on Social Media. The web’s fascination with Sheen’s turn to Social Media in a bid to validate his fight against “Trolls” (not the kind you’re thinking of) and to rally his fans hasn’t gone unnoticed. Recognizing the potential, Interships.com has tapped in to the Sheen marketing machine while Charlie proclaims he may have on speed — go — his impact only generates one number: 1,000,000.
After amassing more than 1,000,000 Twitter followers in under 24 hours and winning a Guinness World Record along the way, Sheen has taken up every opportunity to tap in to his fan base. Among the many promotions Sheen is doing such as a sold out standup tour armed with nothing more than a torpedo of truth to a live webcast that sets itself apart by intentionally misspelling the word corner, none is paying off more than his hunt for a Social Media Intern.
The Internet and to an extent Social Media can do wonders. Being able to connect with anyone instantly whether you’re starting a revolution or selling something has it pros but another benefit afforded to us is transparency. Data is not only readily available but can be quickly transmitted. Combining these two should be able to tell us who’s good and bad at what they do – namely marketers – but time and time again there are always people being promoted who have no skills to back them up. Why do they thrive online?
For this post I’m going to focus on Social Media and Internet Marketers but let me preface this by saying I’ve met people who excel at whey the do and put quality before dollars. But there are some bad internet marketers out there. How do you define some as a bad marketer? I’ve got a few definitions but I tend to categorize them as people who put profit before results and because of their lack of knowledge are forced to take shortcuts to deliver less than stellar results.