What is it?
Essentially, it is a rewards system that makes what we already do on the web   – create and share content – fun by making it a stock market-like atmosphere. You can earn money (their currency is “Eaves”) by buying other people and you can see your own worth rise by getting other people to invest in you. When tied to other accounts such as Twitter, Facebook, Flickr, YouTube, LinkedIn and blogs, your net worth rises based on the content you either create or share. But like the other sites, it’s also a social network itself. It’s a chance to connect and brainstorm with others by finding affinity groups (“Communities”) within Empire Avenue.

How to “win” at Empire Avenue
According to the team at Empire Avenue, there are two ways to win: by being an Investor or by being an Influencer:

While the world may be defined in these two separate buckets – creators and consumers – for most of us in the social space, it’s not an either/or proposition; we’re most likely creating and consuming. But if you’re looking for a hot tip on who’s a mover and shaker and is worthy of your investment, I’d recommend these two points:

1. Think of the people in your networks who are the most active content producers (tweets, videos uploaded or commented on, blog posts written, etc.) and invest in them, regardless of price;
2. Search the “Recent Arrivals” for people you know who fit the description in #1 and heavily invest in them before their price rises. You’ll be in on the ground level and well positioned for a long-term gain.

One point of interest: you can keep your activity to Empire Avenue if you like (investing, giving “Shout Outs,” buying items), but the developers have created a way to make it more than just that: the rewards that you get for EA activity are limited in nature (dividends, currency for taking certain actions, etc.). By linking your social activity from other sites, you see your net worth rise more quickly. The main way the system does this is by using what’s known as gamification. Yes, that’s an actual term. By rewarding people with positive reinforcement for actions taken – much like Foursquare has become synonymous with – Empire Avenue uses a system of Achievements to recognize your progress. Below are some examples.

For a recent and in-depth look at how game theory is affecting the social and mobile space, take a look at what Brian Solis had to say about it (“The Games Businesses Play with Customers“).

Is there more than just fun and games?
But let’s get beyond the surface and look at the practical nature of what Empire Avenue has to offer. Robert Scoble, after interviewing the CEO Duleepa Wijayawardhana (DUPS), determined that one side feature he discovered was that it creates a way to better determine who’s actually providing value in our networks.

Empire Avenue themselves have been pretty smart about their ecosystem, as they’ve already built in a revenue stream: there’s The Shop, where people can purchase Luxury items such as airplanes, homes, boats, etc. For those who really want to rise to the top quickly, they can purchase Eaves with real cash. And I definitely see the potential for brands to enter the fray and sponsor items that they can offer for purchase.

Why I think Empire Avenue is onto something
Other sites such as Friendfeed, Quora or Klout all give us some information or let us interact with each other in some way, but they’re each limited. To me, Empire Avenue is a much more holistic, three-dimensional system that is comprised of all of the digital grunts we get on Facebook and Twitter, as well as deeper forum-related discussions via the Communities, an aggregated stream of their activity, and – most importantly – peers’ ratings of influence and effectiveness (via buys and sells). To see a really interesting conversation that Caleb Storkey had with a few influentials about this topic, check out his post.

That’s a much more realistic and informative way to gauge influence, rather than a simple one-dimensional score such as Klout. I could see companies like Radian6 (recently acquired by SalesForce.com) acquiring Empire Avenue as an adjunct to their business. Think of the value they could add by giving clients a dashboard in which they could actively participate rather than simply consume information about the influencers they’re trying to reach.

How do brands get involved?
While this may seem limited to individuals at this point, Empire Avenue does allow brands to get involved and has a separate business signup process. For well known brands, they lock down the stock symbol or brand name in order to preserve some semblance of order. We started accounts for Ford (FORD) and Lincoln (LINCOLN), linking our Facebook pages, YouTube channels and Twitter and Flickr accounts. We expect to add more content channels as we continue to explore the system. In the meantime, we’ve been lucky enough to see individuals investing in us, but we’ve also taken the important step of interacting with them (just as we do on every other social network) and we’re investing in them as well.

Other brands that have cropped up so far include Oreo, Sears, Audi and Applebees. Stay tuned as the gold rush begins. For a comprehensive roundup of other posts about this topic, as well as a set of recommendations and caveats for what it means for brands, please read – and then re-read – Jeremiah Owyang’s post. And then take a look at Adriel Hampton’s Game Mechanics blog.

I’ve just scratched the surface here; this is a very rich subject and I’ll be interested to see how it plays out. We’ve seen other efforts fizzle out, but to me, this seems to have more potential. What do you think? Have you started an account yet?

Oh, and if you’d care to buy a few shares of me, I’m SMONTY and I think I’m still a value stock.

Image credit: unlovablesteve (Flickr)

Social Media Marketing

As you may recall, in December I reported that Yahoo! was sunsetting Delicious, the social bookmarking service, surprising many people and leaving them in a tenuous position. Many jumped ship, proclaiming Delicious dead and looking at alternative services like EverNote, Diigo and Pinboard, but others (like me) held fast, waiting for what would come next. That patience paid off with today’s announcement that AVOS will take charge and will focus on being “the best information discovery service.” Sounds like they’ll be mining the tons of great information that Delicious users have been sharing.

For a little more behind the deal and situation that led to it, Mashable and Read Write Web have some good coverage that you may want to check out.

What’s next for users?
There’s an FAQ on Delicious that answers questions about the transition. I’ve reproduced some of it here for your convenience.

Why has Yahoo! chosen to transition Delicious to AVOS?

When will AVOS officially start running Delicious?

What does AVOS plan to do with Delicious?

Will AVOS maintain the Delicious service with all of its functionality?

How do I transfer my bookmarks?

What will happen to my public and private bookmarks?

• Delicious username
• Delicious password
• Email address
• First Name
• Last Name
• Bookmarks, Tags and Notes
• Inbox items
• Tag Bundles
• Tag Descriptions
• Network Members
• Subscriptions
• Blogpost jobs
• Twitter Auth credentials (if supplied)

What if I don’t opt-in to migrate my bookmarks to AVOS?

Can I export my data from Delicious?

What are your thoughts on this transition? If you’re a user, will you continue with AVOS? And if you left, would you consider coming back? Why?

Image credit: Pink Sherbet Photography (Flickr)

Social Media Marketing

QR codes, a.k.a. Quick Response codes, are a useful way to encourage individuals to interact with a product or service. They can be used for a variety of engagement tactics including driving consumers to an ecommerce landing page, providing a coupon or giving in-depth product information.

Marketing firm MGH conducted very helpful QR code user research in February 2011:

As you can see, getting a coupon or accessing additional information are the two main uses for QR codes. The study also showed one-third of all smartphone users have scanned a QR code and two-thirds have seen one. Users who were aware of QR codes tended to be more educated and affluent and the largest majority of users were ages 35-54. As QR codes become more common, awareness is certain to grow in most demographics.

Before employing a QR code in any campaign, make sure you have covered all the basics:

• Not all users already have a code reader downloaded on their phone. Any time you place a QR code, provide a website URL like www.FSQR.org so they can download a reader to scan the code.
• This may seem obvious, but many companies have gotten it wrong: make sure the QR code goes to a site designed specifically for mobile.
• Think through the placement of the code in the real world. Putting a QR code anywhere with bad cell reception such as a subway makes it useless.
• As with any marketing initiative, measurement is key. Follow the success of a QR code with a trackable URL, which will provide stats on the number of QR code scans per hour as well as the devices used.

About the Author
Nick Jerome is a marketing services manager at FASTSIGNS®, a visual communications services provider with more than 550 locations around the world.
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Social Media Marketing

We all have a fundamental need to be heard; that implies that we’re acknowledged, certainly. Technically, hearing is simply the process of sound being transmitted and received. Telling someone that you’ve heard them is a good first step, and while that’s an easy way to make a customer feel appreciated by a major brand, there are times when it needs to go beyond hearing and to truly listen: to take to heart what they’ve said and take a harder look at a business practice or service.

It’s a cinch
Case in point: Cinch.

This service launched in 2009 and is basically an audio blogging platform. Think of it as a Twitter for podcasting. It allows people to record and upload thoughts via a voice platform and then to share online. It’s a great service and admittedly one that I haven’t utilized enough. Yet.

On May 31, Cinch announced to its customers via email that it would be changing the service’s URL from http://www.cinchcast.com to the shorter http://icin.ch. Easier to remember, right? And since they have an iPhone app, iCinch seemed logical.

Evidently not.

Customers didn’t take it that way, at least. And while I didn’t see any violent backlash online, the team at Cinch must have gotten an earful, for on June 1 – the very next day – they issued the following email to their customer base:

Yesterday, when we sent out the message regarding our upcoming website transition from http://cinchcast.com/ to http://icin.ch/, we heard back from several of our community members that they did not like the new domain choice. While it was short, they thought it was hard to remember and share with others, and did not clearly represent the Cinch brand.


Well, we took your feedback to heart. We still need to transition domains on June 7, 2011. However, we have decided to transition the Cinch website to http://cinch.fm instead. Again, other than the URL change this transition will be seamless to our users.


Please let us know if you have any questions. We apologize for any confusion.

Best Regards,
The Cinch Team

What did they do that was so remarkable? First, they let their audience know what they were trying to do, namely simplify the domain name to make it easier for the customer. Second, they acknowledged that they heard their customers’ feedback. Lastly, they took it a step further and made it clear that they listened to their customers and provided a solution that not only met the business need but the customers’ need as well.

As you think about your business and your daily interaction with fans, followers, customers and all kinds of stakeholders, consider how often you hear what it is they’re trying to convey versus how you’re listening to what it is they’re saying. Are you acknowledging them simply for the sake of making them feel good, or are you truly building their daily drumbeat of feedback into your business model?

Last year, Nestle found out the hard way that Greenpeace meant business when the latter staged a Facebook attack on the confectioner. Greenpeace objected to the process of harvesting palm oil for the manufacture of Kit Kats and barraged Nestle with plenty of negative wall posts as well as one horrific, if memorable, video. But in the end, Nestle listened to their detractors and changed their business policy to a “zero deforestation policy” to reflect a more responsible and acceptable practice.

So the next time you’re faced with feedback – from fans or detractors – you should ask yourself, “Are we listening?” The benefits could be tangible.

After all, it’s a cinch.

Photo credit: x-ray delta one (Flickr)

Social Media Marketing

Now is the time to think about buying new furniture! Tomorrow morning, February 18th, American Signature Furniture is opening their doors early to give their customers an exclusive 20% discount thats double the regular Presidents Day savings! American Signature Furniture has never offered such a huge discount! The Presidents Day deals continue through the weekend with a 24-month special financing offer or 10% off purchases, plus a chance to win a gift card worth up to $ 1000!

Getting in on the 20% off Double Discount is easy! Customers simply need to shop and complete purchases at their nearest American Signature Furniture store between the hours of 8 AM and 10 AM on Saturday, February 18th. And if customers cant make it out that early, they can snag more Presidents Day savings through the weekend and enter to win a $ 1000 or $ 500 gift card by visiting the American Signature Furniture website. Once there, furniture bargain hunters can print a 24-month special financing offer or a coupon for 10% off their purchase.

Be sure to Like American Signature Furniture on Facebook to stay in the know about the Presidents Day Double Discount and other great deals. And by following American Signature Furniture on Twitter, followers can get access to the best deals on furniture, home decorating tips and more. By adding American Signature Furniture on Google+, customers can stay abreast on furniture trends and tips. And by giving American Signature Furniture a follow on Pinterest, followers can find great ways to get inspired.

The Presidents’ Day Early Bird Double Discount at American Signature Furniture is good from 8 AM to 10 AM tomorrow morning only! So get some sleep and share this great Presidents Day savings with your friends. You wont find a better deal on furniture!

++20% off your purchase. Must purchase $ 999 or more. This offer cannot be used in conjunction with any other offer. 20% offer does not apply to Power Buys. Power Buys may not be used toward your total purchase of $ 999. Excludes prior purchases, gift cards, clearance, one-of-a-kind merchandise, delivery, any fabric or leather protection warranty or extended protection plans. Applies to merchandise only. Excludes Serta iComfort. One per household. 20% off ends precisely at 10AM, Saturday, February 18.

American Signature Furniture – located at http://www.asfurniture.com – is owned by American Signature, Inc., which operates 129 stores across the country. Since 1948, American Signature, Inc. has helped furnish America’s homes with quality furniture at the guaranteed best prices. They specialize in a wide assortment of contemporary, modern, casual, country, traditional and luxurious living room furniture to choose from. The store also features a wonderful selection of bedroom furniture, mattresses, dining room and kitchen sets, as well as furniture for kids.

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Here’s the entire graphic as a Slidehshare embed:

You can also download the PDF directly from Global Web Index’s website.

The legend that outlines social network penetration by country, enlarged for more clarity:

Are there any surprises for you in here? From the planning that I see many companies doing – not only in their marketing and communications efforts, but in their actual product planning and manufacturing – the BRIC markets (Brazil, Russia, India and China) are essential. That’s borne out here as well – although it should be noted that Facebook has very little penetration into Russia and China currently.

To me, it’s interesting to look at markets like Mexico, Italy, India, Russia, Malaysia and the Phillipines, where there is a greater percentage of people sharing content rather than those simply sending messages. This means that you need to have a content plan that enables active sharing of content – photos, videos, embeddable documents and slides, etc.

If you’re in a global business, how does this infographic make you think about your plans? If you’re based in a single market, how do the numbers reflect what you’ve seen?
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Social Media Marketing