Archive
Sayagle
The Power of Social Messaging
Twitter continues to amaze me – especially when you focus on a niche market or region. Thanks to the great stats from Tweetburner I can now record the effectiveness of every Tweet that I publish via @BostonTweet. BostonTweet announces recommendations, happenings & entertainment at local Boston restaurants, bars and venues. Over the last few days my tweets have sent 445 visitors to the websites of these local restaurants – an impressive number in itself but especially considering that most of these websites probably don’t receive more than 10 visitors/day. Twitter is here to stay and will eventually be the most persuasive form of marketing & communication online.
Follow BostonTweet at http://Twitter.com/BostonTweet
Social Messaging? Blogs? Facebook? Twitter!
Over the last couple of months, to the neglect of this blog, I’ve become quite addicted to Twitter. Like I originally did with blogs, I cursed Twitter because I didn’t see the point of it. Well I must admit that I regret not getting on Twitter sooner.
As I eventually learned a blog is an essential business tool and one that generates all my business, well that was until Twitter. Twitter is a social messaging/notification service that allows you to text updates on what you’re doing right now. You know that one little status section of Facebook that asks you what you’re doing right now? That’s Twitter and it’s phenomenal. Twitter only allows you to send 140 characters at a time but it’s amazing how much information you can learn from brevity.
In my opinion Twitter has become the best tool for networking with people, connecting with information, marketing and most importantly getting people to talk about whatever topic you’re talking about. These days I have two Twitter accounts. My business is @TOKiBiz and the one I’m most amazed by is @BostonTweet.
@BostonTweet, in conjunction with BostonTweet.com, broadcasts real time Twitter updates about what’s happening right now at Boston restaurants, bars and music venues. @BostonTweet is very focused on local Boston business, which makes people passionate about voicing their Boston restaurant recommendations. What Twitter does, that blogs and Facebook don’t do (or at least as well), is to get people to think about topics and contribute to the discussion in real time. What amazes me about BostonTweet is people are very passionate about their favorite local people, places and things – I know I am! So when you pose a question about what’s your favorite Thai Food restaurant we all immediately chime in with our vote. This puts the restaurant fresh on our mind and for me makes me want to visit that establishment ASAP. I know I’ve already visited a few new spots based on these recommendations and I’m sure (out of 550 followers) I’m not the only one – businesses need to get in on the Tweet! I’m definitely going to J. Pace & Son in the North End very soon!!
In my opinion Twitter has become more valuable for business than blogs and Facebook. Blogs are terrific for when you want to be verbose on a topic that you’re passionate about but blogs can no longer beat the immediate influence that Twitter has. Maybe it’s that we can no longer process anything more than 140 characters or 30 seconds of video but those are the influencers and if business wants to survive then they need to embrace that. My buddy at EaT in Portland, Oregon just yesterday asked me if he should spend money on having a website for his new restaurant. I said no way! Create a blog, register with Twitter, and then send updates from your cell phone (while at the restaurant) about what’s happening RIGHT NOW at EaT. With a simple line of code you can notify your followers and update your blog & website with fresh content that will immediately be indexed on the search engines. Your typical portfolio, online brochure website is no longer effective in generating business for offline companies. Sure it’s nice to have an online menu but in most cases it’s not going to generate new business and it’s definitely not going to get people talking. Twitter can!
If you’re an offline business (restaurant, bar, cafe, shop) then you know that word of mouth is your most valuable form of marketing – recommendations from loyal customers. This is what Twitter does for your business and you need to get on board to get people talking and thinking about your business. Blogs and websites are you talking to your customers, which is of course important, but Twitter gets your customers talking.
As for Facebook I use to think that it was good for marketing but I no longer believe that to be true. Facebook is phenomenal for connecting with former classmates and I owe Mark Zuckerberg a lot of thanks for connecting me with my former St. Martin de Porres (Poughkeepsie, NY) classmates – I don’t know how Classmates.com is still in business. However, as a marketing & networking tool Facebook isn’t as effective as Twitter. In my opinion Facebook’s revenues (or lack of) prove that. Of course Twitter is also trying to figure out their revenue model, maybe someday it will be a necessary utility like the telephone, but in the simplest terms Twitter is an advertising model in itself. Not in the form of banners but in the form of valuable information that’s not clogged with a bunch of spam and excessive text. If you don’t like what someone’s dishing then you just un-follow that person – problem solved. Wouldn’t it be nice if email was like this?
Bizak Auction
Bizak is currently up for auction on SitePoint. Any interested parties can bid directly on the site or contact me (617-947-8071 or email) for additional information.
Auction URL: http://marketplace.sitepoint.com/auctions/53150
Webnotes Launch!
Congratulations to my friends at Webnotes for launching their invite-only beta yesterday. If you don’t already know, Webnotes was founded by a handful of MIT grads and it lets you annotate, share and organize notes on any web page.
- Annotate the Web- “With Webnotes you can highlight text and stick notes to web pages”
- Organize Notes – “All highlights and notes are stored in folders with your Webnotes account”
- Share Comments – “Pages you annotate can be shared through email or online links”
On their first day Webnotes was featured on a number of blogs including, ReadWriteWeb, Mashable, and VentureBeat.
To register for their beta please visit www.WebNotes.net. I also have a handful of invitations available to my readers so if you’re interested just comment (with your email) to this post.
Boston Restaurants, Bars, Stores & Entertainment – BostonTweet
Click
Over the next week TOKiBiz, in partnership with Fortunate13, will be launching BostonTweet. BostonTweet is an online platform for info about about specials, menus, entertainment, promotions & discounts at local Cambridge, Boston and Brookline restaurants, bars, stores & venues.
BostonTweet utilizes Twitter to broadcast to Twitter followers, Twitter search, mobile phones, Google, syndication feeds, blogs, and of course BostonTweet.com.
If you have the scoop on a local event either email BostonTweet at tweet@BostonTweet.com or leave an @Reply or DM to @BostonTweet on Twitter. We’ll then broadcast it to our followers, syndication, blogs and BostonTweet.com.
If you’re a local Boston business and want to utilize social media & messaging to promote your business then contact BostonTweet at Tweet@BostonTweet.com or 617-947-8071.
BostonTweet will be categorized according to Boston, Brookline & Cambridge neighborhoods. To commence these neighborhoods include:
- Brookline: Washington Square, Coolidge Corner, Brookline Village
- Cambridge: Harvard Square, Davis Square, Central Square, Porter Square
- Boston: Back Bay, Beacon Hill, South End, North End, Southie, Kenmore, Downtown, Brighton, Allston
If you’re neighborhood isn’t included that doesn’t mean you can’t tweet us with updates – they’ll still be posted under our citywide listings.
Is Health 2.0 the Beginning of Web 3.0?
In a previous article, Web 2.No More, I wrote about how the current economic conditions are moving us into a new web life cycle. Away from Web 2.0 and into Web 3.0 where the leading web applications will focus more on solving critical problems rather than creating love connections. In that post I wrote:
Health 2.0 applications like Sermo, infoMedMD & PatientsLikeMe are in their infancy but they’re quickly providing patients all over the world with medical research, information and patient outreach – services that previously were only available via costly doctor visits. Online medical applications were definitely slow to adapt Web 2.0 technologies, but I think they’re some of the first players in Web 3.0. Interactive medical data applications used not for online enjoyment (or making friends) but rather to educate people in an attempt to make their lives better and healthier.
Health 2.0 is the commencement of this new web cycle and over time we might discover that there was years of overlap between Web 2.0 and Web 3.0. Technology and ideas evolve. Some still adapt the old ways while others are pushing ahead. The current economic conditions calls for the immediate change in definition, valuation, focus and efficiency. Some will make the jump from 2.0 to 3.0, others won’t make it out and many more are just being born.
Startup – From Idea to Maturation to Sale
At TOKiBiz we develop the foundation for online applications to mature into successful internet startups. We start with an idea, create the model, build the brand, and then launch the application. Once the initial development is complete, and the application has developed its foundation, we then look for a buyer who can take that startup to the next level.
Bizak has been online now for 6 months, has developed that foundation, has received a tremendous amount of interest and is now ready for a buyer who can expand its reach. Both Bizak and infoMedMD were built with the ability to quickly & affordable scale operations with total costs being under $500/year.
We are now opening up discussions with interested parties and if you too are interested in acquiring Bizak please contact Tom O’Keefe at 617-947-8071 or tom[at]tokibiz[dot]net.
Dieting & Weight Loss
We at infoMedMD just released our latest infoMed and this time the topic is Dieting & Weight Loss – a popular topic, especially this time of year. The Dieting & Weight Loss infoMed will ask you for your height and weight, preceded by a few questions, after which it will give you a realistic weight loss plan. The Diet & Weight Loss infoMed is written by Dr. Joe Bentivegna who previously wrote a weight loss article entitled “Weight Loss Requires Discipline, Not Gimmicks.”
The Dieting & Weigh Loss infoMed can be embedded onto your website with the following code:
<object width=’425′ height=’344′><embed src=’https://www.infomedmd.com/flash/infomed_app_425_344.swf?infoMedId=21&ac=FF3T9UPE6BVDZQZ’ type=’application/x-shockwave-flash’ width=’425′ height=’344′></embed></object>
Web 2.No More? From Web 2.0 to Web 3.0
The recent market fiasco has everyone wondering whether Web 2.0 is alive or dead? The technology is indeed still alive (and advancing) but the focus is changing towards Web 3.0.
When the internet bubble burst in the early 2000s it acted as the dividing line between Web 1.0 (the original web) and Web 2.0. Web 2.0 didn’t commence the day after the bubble burst but rather it evolved over time with the rise of search, social networking, blogs, online videos and user generated content. Whereas Web 1.0 was about putting offline information (books, news, brochures) online, Web 2.0 is about sharing that information via social networks, blogs, online video, social messaging, etc. Web 3.0 will evolve with the integration of all this information into deeper analytical studies of online (and human) interaction, consumption behaviors & consumer data. A move more towards the semantic web.
Not only do I think that Web 3.0 will be about the quantifying of Web 2.0’s user generated data but I believe the focus (of web applications) will change.
In business, they’ll take a more active role in utilizing social networks and messaging platforms to communication with clients. This online interaction is efficient, effective and measurable, which provides corporations with analytical interaction to quantify and measure customer feedback like never before. The web has been evolving in this direction but the recent economic mess will force firms to embrace this technology now. The need to cut costs and be more accountable will propel the web towards Web 3.0 much faster than anticipated.
The second main change from Web 2.0 to 3.0 will be about focus. This past month has seen two monumental events. The financial collapse of the world economy and a historical election that broke centuries of racial inequality in the United States. Obama’s message was all about change and not only will there be change at home but also a movement towards changing the world’s perception of us. This means instead of meaningless applications that rate whether you’re hot or not there will be a movement towards uniting the online industrial western world with developing nations. Online video has already opened up our eyes to injustice around the world but it’s only the start. The tools of Web 2.0 will evolve to help all nations be self sufficient, energy independent (via new energy technology) and environmentally friendly.
Web 2.0 gave us the technology to test the effectiveness, success and power of online interaction. Global information, worldwide interaction & third world participation opens up a world of possibilities to both developing and industrialized nations. I already see the global need for western medical information with infoMedMD. Many of our visitors come from developing nations that likely don’t have access to quality medical care. With infoMeds, developing nations (with online access) can receive Western medical advice almost as if they specifically asked a doctor for a diagnosis.
Health 2.0 applications like Sermo, infoMedMD & PatientsLikeMe are in their infancy but they’re quickly providing patients all over the world with medical research, information and patient outreach – services that previously were only available via costly doctor visits. Online medical applications were definitely slow to adapt Web 2.0 technologies, but I think they’re some of the first players in Web 3.0. Interactive medical data applications used not for online enjoyment (or making friends) but rather to educate people in an attempt to make their lives better and healthier.
Whatever the third phase of the web is called it’s very likely that it has just begun. The current economic conditions have forced technology companies (and the venture capitalists funding them) to rethink their business models, focus their ideas and think of the next big thing. The third phase of the web will take everything that we’ve learned during Web 1.0 & 2.0 and make it better.
Internet Marketing in a Bad Economy or Even Worse a Recession?
Internet marketing is more measurable, accountable, faster and viral than traditional advertising. While both forms of advertising might see dips during this economic slowdown it’s likely that traditional (print, TV, radio) advertising will see the biggest decline due to the uncertainty of their results. Internet advertising can be measured immediately via web analytics giving you instant feedback on the success or failure of your advertising dollars.
Most corporations have not embraced online marketing & social media tools to effectively market their brand. With advertising and public relations (PR) budgets being cut, executives need to utilize the cost effective tools of social media, blogs and online marketing. To cut costs executives have to take an active role in the communication between them and their clients. All of this can be done affordable, but it takes active participation.
My advice – Don’t waste your money on expensive search engine optimization campaigns. SEO firms charge exorbitant fees (however likely to decline in the current market) and they can’t guarantee any results. No SEO firm can promise you the number one spot because they’re not Google and if they were it’s all based o Google’s algorithum. You can accomplish the same results that an SEO firm would do by utilizing online media to your advantage. Also unless you’re in the top 5 of the first page (for a popular keyword) you’re not going to see any significant amount of traffic.
Now is the time to embrace the web more than ever and now is the time for corporations to take a direct and active role in their online marketing.
HomeAway Raises $250 Million
HomeAway, a vacation rental marketplace, just raised $250 million in their latest round of financing. HomeAway previously raised $209 million which was used to acquire eleven vacation rental sites including VRBO, VacationRentals, CyberRentals, A1Vacations, GreatRentals, Holiday-Rentals.co.uk, OwnersDirect.co.uk, FeWo-direkt.de and Abritel.fr.
With $150 million in yearly revenues the funding will likely be used for additional acquisitions in the vacation rental front – a $24 billion industry. This bodes well for Boston based FlipKey which offers verified vacation rental reviews.
With this round HomeAway was valued at $1.15 Billion – using the basic Bizak revenue valuation you get approximately $600 Million. According to Michael Arrington of Techcrunch this was an “absurd valuation” that won’t likely produce positive returns for the investors. He says:
It’s also clear that the round was seriously overvalued. Ebay was rumored to have mulled over an acquisition earlier this year at $1.5 billion, but it never came through with a firm offer. It’s not clear who else could be a buyer at this valuation. Also, since HomeAway has acquired just about everyone in the market, there’s little room for additional growth via acquisitions. 20x ebitda is a public company valuation for a company with real growth potential. Our guess is these new investors may take a bath. Source: Techcrunch
Only time will tell if the deal is bound for failure but either way there will be some very happy entrepreneurs who are more than willing to take a piece of that $250 million.
Boston’s Gazelle Raises $6 Million
The Boston based (more specifically Brighton) used gadget marketplace Gazelle has closed a $6 million series B round of funding led by RockPort Capital Partners. Gazelle is led by Rousseau Aurelien and not only does the company help save the environment but the recent economic woes have given Gazelle an even greater impetus – get cash for your gadgets during tough times! The Boston Globe recently wrote an article about Gazelle and Lawrence, MA based Nextworth which says:
Perhaps it’s time to bring in a little extra cash, by disposing of your unused devices. According to the Consumer Electronics Association, the average American household has two dozen such gadgets – such as TVs, DVD players, cameras, game consoles, and computers.
According to the Globe article a lot of people have trouble using sites like Craig’s List and eBay:
But how do you sell them? There are always Internet trading sites like eBay and Craigslist, but these can be costly and risky options for amateur traders. EBay requires a complicated sign-up process and charges transaction fees that will eat into your profits. Craigslist is free and simple, but provides no protection against scam artists who may try to pay with forged money orders or rubber checks. And you can’t be certain your stuff will sell, and at what price.
Gazelle simplifies the process for people by paying you cash up front and then they resell the gadgets online. For an online demo please view the video below:
Internet Earnings
Below is a chart of the current (October 2008) average benchmarks for websites who contribute to Bizak. Numbers are averages for Visitors, Revenues, Revenues per Visitor (RPV), Costs, Earnings, Earnings per Visitor (RPV) and Valuation. Bizak is categorized into industry, website type and revenue source. The chart below lists the averages for website type and revenue source.
BostonTweet on Foursquare
- An error has occurred; the feed is probably down. Try again later.
Tom O'Keefe 