Facebook's recent $1 billion acquisition of Instagram presents new challenges to and opportunities for marketers. For brands, this acquisition is an opportunity to strengthen their digital ecosystems by leveraging both platforms consistently and encouraging deeper engagement with consumers.
While Instagram doesn't currently have an ad program, companies like Instagrid Network want to connect brands with Instagram users. Their idea is to set up programs that pay top Instagrammers to share photos of a brand's products.
Because Instagram is all about sharing pictures, some companies are realizing that an artsy tilt-shift photo of the bag of chips you're eating could actually be worth something.
These paid endorsements will be unobtrusive, and will look exactly the same as every other photo populating your feed. Kevin Systrom, the CEO of Instagram, says, "It doesn't feel like advertising when you open Instagram - it feels like entertainment."
While the partnership between Facebook and Instagram will attract many new users to join the Instagram community, brands need to keep in mind which channel is more relevant to the brand and its consumers in order to reach their target market effectively.
Thursday, April 19, 2012
Newspapers are Becoming Old News as Social Media Takes Over
This week, Mashable posted an article about the influence of social media on the news industry. It is no question that websites such as Facebook and Twitter have become more and more important in the world of current events. However, there are pros and cons to social media news. On a positive note, the Internet allows immediacy, everyone can report the news, stories disseminate quickly, and cell phones can go everywhere. On the other hand, there is less room to tell the story (140 characters on Twitter), inaccurate facts sometimes, journalistic integrity could be compromised, and amateur reporters put themselves or others in harm's way to get the scoop.
These are some interesting statistics I found regarding social media news:
These are some interesting statistics I found regarding social media news:
- Over 50% of people have learned about breaking news via social media rather than official news sources
- Hudson River plane crash - Twitter
- Whitney Houston's death - Twitter
- Announcement of the royal wedding - Twitter
- Egyptian uprising - Facebook
- 46% of people get their news online at least three times a week
- As of 2012, online news revenue has surpassed print newspaper revenue
- Facebook is the strongest online news source, with 59.5% of users
- 49.1% of people have heard breaking news via social media that turned out to be false
While social media news has its advantages and disadvantages, one thing is undeniable: it is here to stay. Getting the news online is becoming the norm for most households. In a few decades when the new generation takes over, I believe that newspapers will become a thing of the past.
Thursday, April 12, 2012
Smartwatch Makes Life Easier for iPhone Users
While several smart watches have been introduced in the past year, they were all powered by Android, or connected to Android smartphones only. iPhone users were out of luck, until yesterday.
Eric Migicovsky, of InPulse, created the first smart watch that can sync with any iOS device, as well as Android. This watch, called The Pebble, makes life easier for smartphone users so that they don't have to take their device out of their pocket just to check the time, change the tune, check an email or see who's calling. It features an e-paper display for improved visibility in direct sunlight, has a built-in motor for vibration alerts, and an accelerometer.
The Kickstarter campaign asked for $100,000 in funding, and reached that in the first two hours. Not only that, but currently the project has managed to amass over $1 million so far, and it's only been one day. Around 8,500 people have invested money toward the project.
This has been such a promising investment for many people because most devices that work with smartphones have proved to be very successful in the past. There are expected to be one billion smartphone users by 2014, creating a large target audience for products such as The Pebble.
Eric Migicovsky, of InPulse, created the first smart watch that can sync with any iOS device, as well as Android. This watch, called The Pebble, makes life easier for smartphone users so that they don't have to take their device out of their pocket just to check the time, change the tune, check an email or see who's calling. It features an e-paper display for improved visibility in direct sunlight, has a built-in motor for vibration alerts, and an accelerometer.The Kickstarter campaign asked for $100,000 in funding, and reached that in the first two hours. Not only that, but currently the project has managed to amass over $1 million so far, and it's only been one day. Around 8,500 people have invested money toward the project.
This has been such a promising investment for many people because most devices that work with smartphones have proved to be very successful in the past. There are expected to be one billion smartphone users by 2014, creating a large target audience for products such as The Pebble.
Wednesday, April 11, 2012
Facebook Acquires Competitor Instagram
Mark Zuckerberg says on his Facebook page that the acquisition is "an important milestone" for the company because it is the first time it has acquired a product and company with so many users. Instagram currently has more than 30 million users who upload more than 5 million pictures every day.
The introduction of Instagram on Android devices last week was a potential threat to Facebook, attracting thousands of new users signing up at a rate of more than 2,000 people per minute.
"Facebook will never make that $1 billion back, but it's still smart," says Patrick Moorhead, principal analyst at Moor Insights & Strategy, who called Zuckerberg's move defensive. "Instagram was the only thing challenging [Facebook's] dominance in photo sharing."
Photos have been a key part of Facebook's growth and popularity. On average, 250 million photos are uploaded on the social media website per day. By acquiring Instagram, Facebook knocked out one of its main competitors.
The move is also likely to give Facebook a greater ability to profit from its mobile applications, a part of the company that has yet to generate "any meaningful revenue" from, according to the social network's IPO filing.
Thursday, April 5, 2012
Google Continues to Innovate and Amaze
Google is onto something, once again. Last week, I posted about their innovative driverless car. This week, they introduced yet another product that will change the world of technology as we know it: Project Glass.
Project Glass is part of the "Google X" special products division, which is the same division that has been working on self-driving cars. These new glasses take all the functionality of a smartphone and place it into a wearable device.
A person wearing these glasses can control music, get directions, take pictures, give voice commands, and conduct video chats. The lenses will also display everything from text messages to maps to reminders.
"We think technology should work for you -- to be there when you need it and to get out of your way when you don't," the company said on its Google+ page.
The glasses are expected to go on sale later this year for about the same price as a smartphone. Here comes the future!
Project Glass is part of the "Google X" special products division, which is the same division that has been working on self-driving cars. These new glasses take all the functionality of a smartphone and place it into a wearable device.A person wearing these glasses can control music, get directions, take pictures, give voice commands, and conduct video chats. The lenses will also display everything from text messages to maps to reminders.
"We think technology should work for you -- to be there when you need it and to get out of your way when you don't," the company said on its Google+ page.
The glasses are expected to go on sale later this year for about the same price as a smartphone. Here comes the future!
Wednesday, April 4, 2012
YouTube Broadens Market with Video Rentals
A newly signed agreement struck a movie-rental deal between Google's YouTube and Paramount Pictures. Paramount added 500 films to YouTube's online video store, bringing their total rental catalog to 9,000.
Including Paramount Pictures, five of the six major film studios, along with ten independent studios, have now agreed to rent films through YouTube and Google Play. While 20th Century Fox is now the only major studio holdout, many have found it surprising that Paramount joined Youtube's venture, given the fact that their parent companies are in a feud over a $1 billion lawsuit.
This new deal with Paramount reflects YouTube's recent strategy to expand its services beyond its trademark user-created videos. They want to provide their millions of online viewers with a range of entertainment options.
"Paramount Pictures is one of the biggest movies studios on the planet," said Malik Ducard, director of content partnerships at YouTube. "We're thrilled to bring nearly 500 of their films to movie fans in the U.S. and Canada on YouTube and Google Play."
The Paramount films will be available on YouTube Rentals and Google Play for $2 to $4 per viewing. Online movies and pay-per-view options have created even more competition between Google, iTunes, Amazon, and Netflix.
YouTube's breakthrough into the movie rental industry is just another example of a company continuing to innovate itself in order to stay relevant with consumers. While YouTube never lost popularity among its users, the company recognized another opportunity to broaden their brand and gain more profits.
Including Paramount Pictures, five of the six major film studios, along with ten independent studios, have now agreed to rent films through YouTube and Google Play. While 20th Century Fox is now the only major studio holdout, many have found it surprising that Paramount joined Youtube's venture, given the fact that their parent companies are in a feud over a $1 billion lawsuit.
This new deal with Paramount reflects YouTube's recent strategy to expand its services beyond its trademark user-created videos. They want to provide their millions of online viewers with a range of entertainment options.
"Paramount Pictures is one of the biggest movies studios on the planet," said Malik Ducard, director of content partnerships at YouTube. "We're thrilled to bring nearly 500 of their films to movie fans in the U.S. and Canada on YouTube and Google Play."
The Paramount films will be available on YouTube Rentals and Google Play for $2 to $4 per viewing. Online movies and pay-per-view options have created even more competition between Google, iTunes, Amazon, and Netflix.
YouTube's breakthrough into the movie rental industry is just another example of a company continuing to innovate itself in order to stay relevant with consumers. While YouTube never lost popularity among its users, the company recognized another opportunity to broaden their brand and gain more profits.
Thursday, March 29, 2012
Google's Self-Driving Car is Tested by Blind Man
In 2010, Google announced it's self-driving car project. The company has been working on building cars that rely on laser range finders, radar sensors, and video cameras to navigate the road ahead in order to make driving safe, more efficient, and more accessible. While Google hasn't said yet what they plan on doing with the cars, it should be a good business for them because the cars rely heavily on Google's data centers.
The steering wheel turns automatically, and the vehicle stops for red lights and stop signs. Radar and lasers check for cross-traffic and prevent the vehicle from collisions.
Steve Mahan, a man who only has 95 percent of his vision, recently took the car for a test drive. A Google employee sat next to him with a computer, programming the route to each destination.
"Where this would change my life is to give me the independence and the flexibility to go the places I both want to go and need to go," Mahan said.
Mahan isn't the only person who's life would be drastically affected by the introduction of this self-driving car. Many people who have medical conditions that have kept them off the road in the past will be able to use cars as a means of transportation again.
"There are a lot of hoops that are going to need to be jumped through in the years to come: Things like driver's licenses and regulatory stuff to allow these vehicles to traverse roadways. But the technology is absolutely intriguing," said Eric Bridges, government affairs director for the American Council of the Blind.
I look forward to seeing what this invention will bring in the future. Many other companies, including Lexus and BMW, are working toward building a robotic car as well.
The steering wheel turns automatically, and the vehicle stops for red lights and stop signs. Radar and lasers check for cross-traffic and prevent the vehicle from collisions.
Steve Mahan, a man who only has 95 percent of his vision, recently took the car for a test drive. A Google employee sat next to him with a computer, programming the route to each destination.
"Where this would change my life is to give me the independence and the flexibility to go the places I both want to go and need to go," Mahan said.
Mahan isn't the only person who's life would be drastically affected by the introduction of this self-driving car. Many people who have medical conditions that have kept them off the road in the past will be able to use cars as a means of transportation again.
"There are a lot of hoops that are going to need to be jumped through in the years to come: Things like driver's licenses and regulatory stuff to allow these vehicles to traverse roadways. But the technology is absolutely intriguing," said Eric Bridges, government affairs director for the American Council of the Blind.
I look forward to seeing what this invention will bring in the future. Many other companies, including Lexus and BMW, are working toward building a robotic car as well.
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