Paul H. Rubin, an economics instructor at Emory University, recently wrote a compelling article in the Wall Street Journal on the 10 most important fallacies about Web privacy. Although all of the points are interesting, two stand out especially.
No. 5 on the list is that the wrong-headed belief that less consumer privacy means someone will know something about a consumer that the consumer might want kept secret. To quote Rubin, "To the extent that things are 'known' about consumers, they are known by computers. This notion is counterintuitive; we are not used to the concept that something can be known and at the same time no person knows it." It sounds like something out of The Matrix, and certainly if you're concerned about robots taking over the world, then you'd be best to keep your shopping habits to yourself. But, for the rest of us, it makes incredible sense once we stop and think about it.Add a comment Add a comment
Most likely, everybody by now has heard of pay-per-click (PPC) ads on Google or Yahoo. And most likely, everybody by now has seen PPC ads on Facebook or LinkedIn.
While they all share the same principle (they are ads after all), there is one big difference: to the search engine, you are still more or less an anonymous user. I say "more or less" because especially on Google it depends if you are logged into your account when you search, if you have set up your iGoogle preferences, if you are connecting from a brand-new PC or IP address, among a lot of other factors.
Being near your customers, or at least in the areas they travel, can help bring business in the door. The right location can bring the product closer to the customer. The right location also can benefit you in terms of economies of scope; that is to say, being in the right place can drive down the costs needed to drive up sales.
These costs can come from efficiencies from within the business, such saving time and advertising dollars, or they might come from the benefit of being near similar businesses, which might lead to more foot traffic from the target market. In the online world, the idea is exactly the same and retailers are taking note.
Strikingly, only 44 percent of the surveyed professionals agreed with the statement: “We regularly monitor what customers are saying about us on Twitter, Facebook, or other social networking sites.” Whether to recommend or warn, people tell others about their encounters. And if these people are customers, it can mean retention and growth or lost revenue. Hopefully, as they continue to invest in social media, eBusiness executives will take care to better watch the results of their efforts. Their customers and prospective customers certainly will.
Social media is literally everywhere so don’t try to escape it. This morning, while cruising down I-25 in Denver jamming out to some loud music, I glanced at this:
This extremely simple billboard with a bottle of Maker’s Mark Bourbon and the words “Friend us” got me thinking about how prevalent social media advertising has become. It is so widespread, that ironically, businesses both large and small are now using traditional advertising methods such as billboards to promote their social media assets. I did a little research, and I want to share a few images that I found.Add a comment Add a comment