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Did you ever wonder why Facebook would buy Instagram for $1 billion when it had no revenue? I think we have an answer now; the huge user base represents fantastic advertising potential (provided users don’t leave en masse!) In reality, anyone who understands business knows that business needs cash flow. If you aren’t paying for a product then you are the product. Here’s an infographic that describes the recent backlash against Instagram and ends with my theory on why the company put such controversial language in their terms of service (which they then retracted).
<img src="https://heatherpins.files.wordpress.com/2013/01/instagramdead1.png?w=870" alt="Instagram Backlash Infographic"></br><a href="https://heatherpins.wordpress.com/2013/01/02/terms-of-service-controversy-causes-instagram-backlash-infographic/">From Heather Pinson's blog "HeatherPins!"</a>
By the way, if you manage an online business there is a way to turbocharge your social media promotions by aggregating all of your social media and displaying it on your own website; this solution is called Postano! Check it out! There’s even a free trial! (The product is the product in this case… you are the customer.)
How can a brand successfully use social media to engage its audience? The question remains elusive to those marketers who are still stuck in the old ways of thinking; pushing the message out there, interrupting, fighting for the attention of their target audience. Using social networks to attract potential customers is what social media for business is all about. But this is easier said than done; social networks are about connection between people. How can a brand connect on a personal level? It seems that successful brand campaigns on social networks have to be creative and innovative, and they have to connect people. Brands that have been successful at this include Old Spice and Sharpie, as well as many other smaller, less well known businesses.
Here’s a great article with seven examples of successful and creative brand campaigns using social networks: 7 Creative and Successful Social Network Campaigns by Brands
What other brands have mounted successful social media campaigns?
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