In the world of brick and mortar retail, if you had to list one key to success, it'd probably be the good old "location, location, location".
Online, where anyone can set up shop, location works a bit differently. Some swear that a highly-generic domain name is the equivalent of a retail space on Fifth Avenue. Others strive to make sure they're visible to consumers through organic and paid search.
The nature of the internet economy has given myth new importance in the digital age. One need only look at the field of SEO to see just how prominent (and destructive) myth can be.
Social media has a lot in common with SEO and one area where that's especially true is in the number of social media myths that have become entrenched. From the belief that social media ROI can't be measured to the idea that your business can thrive if you get to the right influencers, social media myths run rampant today.
Did faulty servers kill Friendster? Discussions of Friendster may sound like ghosts from social networking's past, but the site's founder Jonathan Abrams is back in the news today, telling the LA Times today that Friendster got too big too fast, and attributes his company's downfall to poor functionality resulting from exponential growth.
Abrams, who's now working on start-up Socializr, says that MySpace was able to eat Friendster's lunch because of better targeting and reliability:
"They opened it up to minors, which hadn't even occurred to me for
the legal and safety reasons... the real
reason that Friendster got supplanted by MySpace in the U.S. was that
MySpace's website just worked and Friendster's didn't."
While dependability is key to a website's success, Abrams is still missing the big picture on what makes social networks stick around online.
TechCrunch's been airing Twitter's (not so) dirty laundry all week. Courtesy of a hacker, TechCrunch has gotten hold of 300 confidential Twitter documents, and yesterday they released notes from a set of executive meetings that laid out the company's upcoming strategy plans.
What did we learn? That Twitter is scared of Facebook. As it should be.
Facebook, which just announced that it had reached the 250m user mark, continues in its quest to build a sustainable business. Currently, Facebook's self-serve PPC ad platform accounts for the largest share of the company's revenue.
In an effort to grow that chunk of revenue, Facebook is adding on to its self-serve ad platform to meet the needs of developers and I think this could open up a potential arbitrage opportunity for savvy developers.
The buzz in the consumer internet right now is real-time. Twitter and Facebook have put the
spotlight on real-time but now tech giants like Google and Microsoft
are giving real-time the time of day.
Where is this all leading? Is real-time the most important thing taking
place on the internet today as some believe or is it the next overhyped
Facebook has just launched Fan Box, a new widget. This is great news for brands wanting to grow a Facebook fan page. But it's probably going to drive traffic in the wrong direction for most brands.
Facebook claims that its recent problems with click fraud are behind it but one advertiser is sending Facebook a clear message: your problems are just beginning.
Sports website RootZoo has filed a lawsuit against Facebook in federal district court in San Jose, California and is seeking class action status. The company is being represented by Kabatek Brown Kellner, a law firm with a history of litigating click fraud actions.
When will Google get into real-time search? Soon enough.
Last week, both Bing and Facebook incorporated Twitter and Twiiter-like features into their services.
This week, Google's Marissa Mayer says Google finds real-time search "interesting," but she's still not spilling the beans on when Google will integrated the service into its search portfolio.
Facebook may have begun as a network for college students, but if new demographic estimates are correct, the social networks' audience is skewing much older.
According to iStrategyLab, the overall number of users between 18 and 24 years of age has grown
only 4.8% between January and July of this year. That's compared to a 513.7% growth among users older than 55.
Of course, more high school and college students use the site than 55 year olds, so there's less room for growth. But if younger users don't replace current users as they age, it could be very bad news for Facebook.