Posts Tagged Social Media
Thomas Crampton | Asia-based digital strategist | Posted: July 12, 2010 07:20 AM
Asia’s diverse cultures, languages and levels of economic development have always made it an exciting place to work.
Now, however, Asia’s wide range of digital ecosystems have created wildly divergent virtual worlds that few people understand. These virtual worlds are, however, having a very real impact on Asias economics, politics and culture.
I run Ogilvy’s team of social media specialists in Asia and created this video for an internal meeting to show some recent developments across the region.
Countries in Asia with a similar level of development can have extremely different ways of approaching the Internet. In Korea, broadband connections are available virtually everywhere, while Japan’s Internet population is highly reliant on mobile.
Strong digital ecosystems are not only present in the most developed countries in Asia. In fact, Indonesia will soon overtake the United Kingdom as the second largest Facebook population in the world.
The average youth in China has more friends online than offline, while Australia has one of the highest levels of social media engagement in the world. Australians spend an average of 6 hours and 52 minutes a month on Social Media.
Most of China’s social media users are spread across three main social media Websites: Kaixin (30 million accounts), Renren (40 million accounts), and QQ (376 million accounts).
Chinese netizens use domestic social media rather than international versions like Facebook primarily due to government blockage of foreign social media, but also cultural preferences.
In Asia, Internet life is highly mobile:
· Vietnam had an 846 percent growth of mobile Internet users in 2009.
· In Japan, 84.3 percent of the population goes on the Internet with a mobile phone.
· In Taiwan, 73.3 percent of mobile Internet users have 3G.
· The population of smartphone owners in Hong Kong is 48.6 percent.
Asia’s social media sites also have diverse source of revenue. In contrast to Facebook, the primary revenue source for many Asia social media sites is the sale of virtual items online.
Facebook, QQ, Mixi, and Cyworld collectively generate $392 million (USD) in revenue a year from the sale of virtual goods in the Asian online market.
Facebook’s financial performance is stronger than previously thought.
The Internet social network’s explosive growth in users and advertisers boosted revenue to as much as $800-million last year, according to two insiders.
The group also earned a solid net profit, in the tens of millions of dollars, one of the sources said.
That growth in profit and revenue underscores how Facebook is increasingly making money off its six-year-old service. It’s the world’s largest web social network with nearly half a billion users.
This performance is likely to whet the appetites of investors keen on a public share issue, despite the group’s insistence that an IPO is not a near-term priority.
California-based Facebook, the booming social networking site dreamed up by Mark Zuckerberg and his buddies in a Harvard dorm room in 2004, is privately held and has released only snippets of financial information.
Its results last year were significantly higher than figures Facebook suggested earlier and analysts’ estimates. Last July, Facebook director Marc Andreessen said the group was on track to top $500-million for the year. And in September, Facebook said it was generating enough cash to cover its operating expenses and capital-spending needs.
Estimates in the media pegged revenue last year at $550-million to $700-million, but the two sources said it was $700-million to $800-million.
“They are downplaying their performance,” one source said. Revenue was more than double the previous year’s.
Facebook is now one of the Internet’s most popular destinations. The social network is increasingly challenging longer-established Internet players such as Yahoo and Google for online time and ad dollars, even as it tries to strike a delicate balance between protecting privacy and promoting social sharing by users.
After criticism by privacy advocates of new Facebook features, the group said last month it would introduce tools to give users more control to limit how much of their profile information is publicly accessible.
Facebook’s backers include Digital Sky Technologies, Microsoft Corp, Hong Kong tycoon Li Ka-shing and venture capital firms Accel Partners, Greylock Partners and Meritech Capital Partners.
As investors wait for signs of a Facebook IPO, a vibrant market has developed for private shares of Facebook in specialised exchanges like Sharespost and SecondMarket.
Combining a large audience of web surfers with innovative online advertising has become a recipe for supercharged revenue growth in the Internet business.
In 2002, after Google overhauled its AdWords search advertising system and introduced cost-per-click pricing, yearly revenue quadrupled to $347.8-million. The following year revenue surged to about $962-million. Google ended last year with nearly $24-billion in annual revenue.
Facebook revenue grew as the number of its website users exploded. In January last year it said it had 11million users. By December, that had risen to 350million.
At the All Things Digital conference this month, Facebook chief executive Zuckerberg cited statements by other Facebook executives that the number of advertisers on Facebook had risen fourfold in the past 18 months.
Big brands such as AT&T, Ford and Blackberry-maker Research in Motion all advertised on Facebook in the first four months of this year, according to Internet analytics firm comScore.
In addition to courting household names, Facebook also allows smaller firms to craft their targeted pitches on its site, using a web-based self-service advertising system.
PTI, Jun 20, 2010, 12.00am IST
Mothers in Asia — especially India — are becoming increasingly Internet-savvy, be it for shopping or keeping in touch with family and friends, a survey revealed.
This trend will create a new target audience group for digital advertisers, it added.
As per the study conducted by Microsoft Advertising and Starcom MediaVest , 87 per cent of the mothers surveyed in India said that the Internet is now an important part of their lives.
As many as 50 per cent said they had made online purchases in the last one month, it revealed.
“Mothers are increasingly using technology to their benefit in every possible way. They are well aware of brands online and are more than open to adopting messages relevant to them. By successfully engaging these ‘digi moms’ through the right medium at the right time, brands can create highly influential online brand ambassadors,” Microsoft Advertising director Neville Taraporewalla said.
The survey dealt with the online behaviour of over 3,000 mothers across eight countries in Asia, including India, China, Singapore, Hong Kong and Korea.
While Indian mothers spend 56 per cent of their total time on the Internet either for work or study, 90 per cent of them use it to connect with family and friends. As many as 75 per cent defined going online as their ‘me-time activity,’ the survey said.
About 81 per cent of the mothers in the country prefer reading newspapers and magazines online, and books top their list of shopping items.
The survey stated that though social networking is one of the activities that draw a majority of people online, Indian moms are amongst the lowest users of social networking.
Only 58 per cent among them maintain a social networking profile, as compared to 82 per cent in Singapore, 77 per cent in Hong Kong and 62 per cent in China and Korea.
More than 90 per cent of the moms agreed that good brands or products were worth talking about, and over 72 per cent said that they can persuade friends and family to buy the same products, it added.
June 11, 2010
Everyone is harping about Social Media Statistics these days – While channels like Twitter & Facebook are surely very effective when it comes to keeping in touch with friends, families & colleagues, many believe that they may not be as effective for Business & professional channels.
I strongly believe that social media sites will play an extremely important role in how you conduct business & and its growth.
Now, to drive across the point lets look at some of the key numbers from Social Media world. Hubspot recently released a report giving out some great social media statistics.
Awesome Social Media Numbers !
- Globally there are close to 1.6 billion Internet users, with Asia contributing to almost half of them – Asia alone has 738 Million users, predominantly from China.
- There are over 500 Million Active users on Facebook sending / conversing billions of messages every month.
- Twitter is another rage and there have been more than 10 Billion messages that have been sent on twitter till date.
- Over 2 Billion Videos are streamed on Youtube DAILY ! – Imagine that…
Importance of Blogging & Social Media for Business purposes
- Blogging can have a very positive effect on your Company’s branding & growth. As per the Hubspot report, Customers with blogs gathered 68% more leads than customers without blogs. Growing articles starts to impact lead growth once 20+ articles become available.
- If your blog had decent amount of related informative articles (about 50+), the lead generation from blog increased by 77%.
- Infact, 46% of all Businesses who used Company Blog have acquired long term customers.
It is high time that every business adopts social media and takes it seriously !