Dwight Howard of the Lakers talks social media.
The Wall Street Journal’s All Things Digital is reporting that Orange County’s Specific Media has bought MySpace from News Corp. for $35 million. The deal has not been officially signed off on but is being completed today, according to their sources.
Newscorp. bought MySpace back in 2005 for $580 million.
News Corp. had hoped to get $100 million for what was once one of the hottest properties on the internet.
An article in yesterday’s Wall Street Journal described Specific Media and speculated on a deal:
“Founded in 1999 by Tim Vanderhook and his brothers Chris and Russell, Specific Media helps marketers buy digital ads across the Web, online video, mobile and even the TV. The Irvine, Calif., company got its start brokering ad space for websites and quickly moved into the fast-growing business of collecting and using Web browsing, demographic, geographic and other profile information about consumers to target ads. The company now ranks among the largest online advertising networks in the country, reaching 170.9 million unique U.S. visitors in May, or about 79% of the U.S. Internet users, according to comScore Inc.
A Myspace deal would give the company access to data about Myspace users to be used for ad targeting. It also would transform the firm into a media company with its own ad space to sell instead of simply an online ad technology firm that brokers ad space on behalf of other websites.
Specific Media’s executive team includes knowledge of the inner-workings at Myspace, with two executives who previously worked at Fox Audience Network, News Corp.’s online advertising unit that sold ads for Myspace.
Specific Media has raised more than $110 million in funding, closing a $100 million round of financing from private-equity firm Francisco Partners in 2007. Since then, the company has acquired a couple of digital advertising companies, including online video company Broadband Enterprises and an Amsterdam ad technology company.”
Ever feel like all your Facebook posts and Twitter Tweets enter into a black hole of irrelevancy never to return again?
It could be lots of things – how you write, who you write for, what you say.
That’s the kind of meaty stuff you really have to work at and think hard about. It demands effort and commitment. But an easy fix that can have a HUGE impact is WHEN you post.
Thanks to KISSMetrics, you can easily eliminate a key variable that could be dragging down your social media impact.
“They see only their own shadows or the shadows of one another, which the fire throws on the opposite wall of the cave.” Plato – The Allegory of the Cave
If you ever hear a so-called “social media expert” use the following four words, feel free to yell FIRE and rush for the nearest exit – trust me, you’ll be doing yourself and them a giant favor.
You’re a small business owner, an entrepreneur, someone with a head on their shoulders who works hard, has a decent enough business model and is way too busy. You want to find out more about social media and figure it can’t hurt to attend a workshop hosted by a laid off PR executive or talk to your wife’s cousin’s best friend or the call up the kid who designed your website to learn more. After all, each one is claiming to be an expert in social media.
So you sit down in person or jump on the phone and the words start rolling off the social media expert’s tongue like a drunken mantra…conversation, authentic, viral engage…conversation, authentic, viral, engage…you get the picture.
And it’s a distorted one because Conversation, Authentic, Viral and Engage have suddenly lost a lot of meaning when it comes to online marketing.
And it’s not without intent.
Social media experts want you chained in the CAVE watching shadows on the wall.
Plato’s Allegory of the Cave (the basis for The Matrix movies) is the notion that most of us live a life of delusion, not understanding reality, as if we were chained in a cave with a fire burning behind us experiencing “reality” watching shadows of puppets cast on a wall.
The real world is outside the cave, but when a prisoner breaks free, the sun and the light is too much to bear and he succumbs to his existence and descends back into the cave.
Social media experts toss out the CAVE words with little to back them up, to keep you from realizing that you can do this stuff on your own. Keeping you in the cave guarantees them a paycheck.
The sunlight is the necessary and very personal HARD WORK that must go into any social media strategy and individual campaign. I speak from experience when I say it is not easy to achieve any of the CAVE directives without committing yourself to a disciplined path with an end goal.
And that is why many of us stay in the cave.
The experts tell us…“You have to have a conversation!” but it goes no deeper than that and we either talk about irrelevant subjects that move no directive forward or turn talking into a one-way broadcast. Next thing you know, we’re shelling more hard earned money to watch more puppet shows because what we’re doing isn’t working.
We hear “You gotta be your authentic self!” But what does that actually mean? Does it mean you should show your snarky side and start dropping f-bombs or dig deep into your fascination with fishing lures from the the 1940s? Of course not. Most of us are not going to be successful just being ourselves. First, because most of us are just not that interesting, And secondly, because no one cares. People care about themselves and solving their problems. Don’t get me wrong. You can get people talking. But there are way too many of us acting as online therapists and not getting paid for it.
And can we just skip viral?
Nothing we do is ever going viral.
It doesn’t have to and it’s not the point.
Upload the kittens and the crazies if you’d like, but there’s no data showing that viral GUARANTEES sales.
Just ask Pepsi.
The Pepsi Refresh program launched last year as a ‘good works’ campaign for the brand. Pepsi promised to give away $20 million to causes picked by fans on social media. The theme was ‘refreshing ideas that change the world’.
During the first year, the Refresh campaign received more than 80 million votes on Facebook. It also created 3.5 million ‘likes’ on Pepsi’s Facebook page, and 60,000 new Twitter followers.
However, in 2010, PepsiCo lost 2.6% of the overall carbonated drink market. (Blue Can Pepsi sales fell by 4.8% compared to the previous year.)
These are the kinds of campaigns that social media experts will actually cite as ways to ENGAGE your followers, friends, fans, etc. I’ve sat right there in the cave and witnessed it. But it’s just more puppet shows and more chains for both of us. You don’t have the budget or the time for something like this and it’s overwhelming to even think of where to start.
So here’s my advice when it comes to social media:
First, get out of the cave.
Stop listening to anyone who throws around the cave words and accept the fact that you have some real work to do.
Second, believe (I mean REALLY BELIEVE) that you know how to listen, how to talk, how to be yourself and how to be passionate about your work, your art and your customers. It’s shocking how little confidence people have in their ability to do this. Did your mom raise you to be a mute? This is not complicated stuff. Social media is a tool like any other tool. Embrace it.
And finally and most importantly…
Set some clear goals and objectives and try and make this thing a revenue channel for you.
OK, that sounds easy. We both know it isn’t. I personally have made a ton of mistakes at this, but finally, after a couple of dedicated years, it is starting to kick in. You just have to stick with it.
What’s right is what’s left when you’ve done everything else wrong.
Accept that it will not happen overnight and that you’ll make mistakes too but don’t sacrifice your freedom for the chains of an expert.
Get out of the cave and into the sunlight.
You’ll find what you’re looking if you’re willing to do the work.