Turning Social Media Into A Business

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first_img“Getting manufacturers involved is one of the things we’re working on now, and we don’t have the perfect answer,” says French. “We’re trying to figure out the next best step. Our experience has been, it’s OK for a reader to see advertising from a manufacturer, they know they’re getting the magazine for nothing. The precedent has already been set. If there is an ad message in an online community it’s going to be OK, users realize without this the medium wouldn’t exist. Take the 50,000 people who got a magazine for the last 20 years. They didn’t know at the time but they were the beginnings of the community.”Geographic and Demographic TargetingMeanwhile, former Cygnus vice president of interactive Dave Iannone, founder of Web firm Go Forward Media and the architect of Cygnus’ Firehouse.com, is working toward monetizing a new set of social media sites. In 2009, Elsevier Public Safety acquired Iannone’s Firefighternation.com and brought Go Forward Media in to develop social media sites around JEMS (the Journal of Emergency Medical Services) and Law Officer. Today, JemsConnect has more than 10,000 members while LawOfficer Connect has more than 5,000 members.But the real push for the Elsevier social networks is going beyond their proprietary Ning platforms to wider social networks such as Facebook, where all three brands are approaching or exceeding more than 50,000 fans, according to Iannone. “One big story can drive traffic spikes of more than 50 percent,” he says. “JEMS recently had a story about a paramedic who died on the scene and it had more than one thousand shares on Facebook. That translates into tens of thousands of page-views. Our strategy is not to rely on any one single platform. We have the Ning-based Web site for the hardcore users and we have Facebook where people do surprising things, like link to a discussion on Firefighternation.com to read it, then come back to Facebook to discuss it. We can get more comments on Facebook about a discussion that’s actually on FirefighterNation.com. The days of one Web portal are over.”In terms of monetization, Elsevier and Go Forward sell fan pages to marketers for hundreds of dollars per month. “Once you’ve got them engaged with their customers and potential customers, they fully realize the full power of social media,” says Iannone.The three Elsevier sites are starting to offer geographically and demographically targeted advertising on a CPM basis and in 2010 will generate revenue in the seven figures, according to Iannone. “We’re looking at sizeable growth annually where we can be up there with the big boys at not much cost,” he adds. “Many consumer magazines have figured this out but b-to-b hasn’t been really taking advantage of social media. This stuff changes so quickly-if you thought the Web changed quickly, this is going to be even more rapid. If you haven’t caught up, you’re going to be in worse shape than you were with the Web 10 years ago.”Using Social Media To Take the Agency RoleFramingham, Massachusetts-based tech publisher IDG Communications is using social media to provide real-time market intelligence for its clients. In an expansion of its Strategic Marketing Services group, IDG has partnered with Networked Insights to launch IDG Social Scout—a service that uses proprietary analytics to track conversations around topics and brands and measures sentiment/engagement over time. Tapping Networked Insights’ proprietary “listening platform,” the IDG Social Scout service can track social conversations online in regard to specific topics chosen by IDG’s marketing clients, providing real-time data on how well those terms are resonating.After determining which topics its clients are most interested in learning about, IDG’s research team develops a community of sites based on conversational engagement and volume that the company will track on an ongoing basis. IDG provide clients with a benchmark report that includes their brand and three competitors. From there, it provides weekly metrics reports that show change in conversation, sentiment and key discussions.While still small in terms of overall revenue, social media services are becoming a significant revenue stream and IDG has struck seven figure deals around it, according to CEO Bob Carrigan. “Social media services have been tremendously successful from the user point of view but also the sponsorship point of view,” he says. “It’s not just great for revenue but every marketer wants to talk to us about this.”SIDEBARUsing Social Media to Market Face-to-FaceReal Simple’s 10th anniversary events get a boost from Facebook and Twitter.Real Simple, Time Inc.’s monthly women’s magazine touting quick-and-easy design, recipe and lifestyle tips, launched a dual-city 10th anniversary tour of the brand in Chicago and New York in April.The events, bolstered by a raft of sponsor partners, were supported by a significant social media outreach and participation campaign. “We wanted to have another outlet where we could let our users know about it and give them updated information, plus let everyone across the country feel involved,” says executive editor Kathleen Murray Harris.A separate Facebook group was created to divert the event-specific postings to its own forum—“We didn’t want to overwhelm the users on the primary page,” says Murray Harris—which collected more than 1,000 fans. From there, Real Simple and associated bloggers and a team of about a dozen tweeters were recruited for coverage.The #RS10 hashtag attained trending topic status “for about 15 minutes,” says Murray Harris, who estimates the social media coverage and almost 400 blog posts reached about 300,000 people, including 4,500 at the Chicago event.Those numbers translate into real impressions for advertisers and sponsors at the event, says Murray Harris, who added that the exposure eventually leads to actual ad buys and continued sponsor deals.A lesson the team learned at the Chicago event was to dial back the tweets. That’s an easy trap to make for location-based Twitter coverage—an enthusiastic stream of tweets from an event the majority of followers aren’t at can get overwhelming. “The initial feedback we got was that because we had people tweeting so often people that followed Real Simple asked us to back off a bit,” says Murray Harris. According to a 2009 Forrester Research study called “The Social Technographics of Business Buyers,” b-to-b buyers and decision makers are among the most active groups in social media. However, monetizing around that participation has been a struggle for b-to-b publishers.Still, turning social media into a revenue-generating business is a priority for many publishers in 2010. As Cygnus Business Media looks to build value after emerging from its Chapter 11 restructuring last year, one of its top priorities will be harnessing what CEO John French calls “social business media.”“Social media is the buzz word du jour but just like how everyone talked about Webinars and e-newsletters a couple years ago, everybody finds a new horse to ride,” he says. “We think social business media is as important as those previous developments but it’s a lot bigger. Business-to-business is a form of social media. The difference was in years past, it was done in print. We’ve gone from magazines delivering push content to getting the people out there to get together and talk.”The next step is figuring out how to monetize social media around communities such as Firehouse.com, Officer.com and EMSUnited.com. As part of the relaunch of its brand, Demers Ambulances wanted to create a social business media “buzz” and purchased an integrated package in order to reach a targeted group of EMS professionals that included ads, e-blasts, blogs booth space, podcasts and Webcasts on EMS Garage.last_img read more


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first_img Dan Cohen AUTHOR Demolition of the aging White Hall office building at the former Chanute Air Force Base in east central Illinois is set to begin shortly, with removal of asbestos and lead-based paint from the World War II-era complex more than halfway completed.Demolition will take place simultaneously with asbestos and lead-based paint removal in different parts of the property, reported the Rantoul Press.Demolition of the building which spans about 500,000 square feet — the equivalent of two city blocks — is expected to finish by next summer, according to Paul Carroll, BRAC environmental coordinator for Chanute. Greenville, S.C.-based CB&I Federal Services is performing the work under a $7.9 million contract with the Air Force.The massive building — DOD’s largest until the Pentagon was completed — was left to decay since the installation closed in 1993 due to the prohibitive cost required to rehabilitate it. White Hall is included in the Chanute Field National Historical District list of Historical Places.The demolition will require about 2,000 truckloads of debris to be hauled offsite. About 90 percent of the construction waste — including brick, rebar and concrete — will be recycled. After the building is torn down, an estimated 1,500 loads of clean dirt will be used to grade the site, according to the story.last_img read more


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first_imgThe Competition Commission of India (CCI) has approved the $385 million deal that entails sale of Ten Sports to Sony Pictures announced last August. The approval was tweeted by the watchdog recently.The deal was announced by Zee Entertainment Enterprises Ltd. on August 31 in a regulatory filing to the BSE. It was an all-cash deal.On Thursday, ZEEL shares closed at Rs. 476.50 apiece, 1.13 percent down from their previous close, on the BSE. ZEEL had originally bought the stake in Ten Sports from Dubai-based Abdul Rahman Bukhatir’s Taj Group for about $107 million between 2006 and 2011..@CCI_India approves acquisition of Sports Broadcasting business of Ten Sports by Sony Pictures Networks India Private Limited— CCI (@CCI_India) January 18, 2017last_img


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first_imgIndia’s biggest automobile manufacturer Maruti Suzuki India (MSI) is all set to establish its fourth assembly line in Gujarat to attain its sales target of two million units by 2020.MSI’s parent company, Suzuki Motor Corporation (SMC), which owns manufacturing units, will make investments into augmenting capacity, the Economic Times reported. The move aims to strengthen the carmaker’s leadership status in the country’s automotive landscape.The company is likely to invest a whopping Rs 3,000 crore to build its new production unit. The fourth production line will take Suzuki’s total installed capacity to a million units in Gujarat, ET reported.”(At) the Gujarat facility which Suzuki has set up, the first line of 250,000 units has already been commissioned, and work is going on with the second and third lines that will increase the Gujarat plant capacity to 750,000 units in 2-3 years. The fourth line of similar capacity (250,000 units per annum) is presently under review,” Maruti Suzuki Chairman R C Bhargava said.Speaking on increasing manufacturing capacity, Bhargava told the business daily that the pace of growth will ensure that the company attains its target of selling 2 million cars annually in 2020. Sales are expected to rise further to 2.5 million vehicles every year in next 2-3 years, he said. Presently, MSI manufactures around 1.5 million cars from two plants in Haryana. Maruti SuzukiReutersLast week, Bhargava lauded the government’s electric vehicle push and said the company plans to release models based on customer preferences. Speaking at the company’s 36th annual general meeting (AGM) he said the move could greatly enhance the usage of electric vehicles in the country and lead to a cleaner environment over time.Earlier on Thursday, Union Minister for Road Transport and Highways Nitin Gadkari has sent a clear message to automobile manufacturers to move to alternative fuel vehicles. Auto companies will have to move to vehicles that run on electricity, biodiesel, ethanol and compressed natural gas “whether they like it or not”, Gadkari said.In April, Suzuki had announced joining hands with Toshiba and Denso to set up a plant in India to produce lithium ion batteries, with an investment of nearly Rs 1,200 crore, ET reported.The auto major has around 50 percent of the market share in the Indian passenger vehicle segment. Close IBTimes VideoRelated VideosMore videos Play VideoPlayMute0:00/0:00Loaded: 0%0:00Progress: 0%Stream TypeLIVE0:00?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio TrackFullscreenThis is a modal window.The media could not be loaded, either because the server or network failed or because the format is not supported.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading …center_img Can Maruti Suzuki NEXA change the dimensions of Indian auto market?last_img read more


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first_imgA motorcyclist was killed in a road accident at Nawapara Bus Stand on Jessore-Khulna Highway in Abhaynagar upazila on Thursday afternoon.Police said Raju Sheikh, 36, son of late Tasir Uddin, hailing from Khulna district, was going to his home riding a motorcycle.When Raju reached Nawapara Bus Stand, a speeding truck knocked the motorcycle down, leaving him dead on the spot, said officer-in-charge of Nawapara highway police station Ataur Rahman. On information, police recovered the body and seized the killer truck, said the OC adding the driver and helper managed to flee.A case was filed.last_img


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first_imgThe Indian contingent added seven more medals, including five gold, to their kitty on day three of the 13th Asian Shooting Championship here on Thursday.This took India’s overall medal tally from the competition to 21. On the third day, Shainki Nagar won a gold with a score of 197 in youth’s 10m air pistol finals. Samarjit Singh won the bronze. The two combined with Mohit Gour to also win the team gold in the event, shooting a combined total of 1690 to beat the Korean team which shot a total of 1677 while Thailand team won the bronze with a score of 1629. Also Read – A league of his own!Sumedh Kumar bagged his third medal of the competition by winning a bronze in the 10M air pistol junior men’s event. He also won the team gold in the event combining with Hemendra Kushwaha and Achal Pratap Grewal after shooting a total score of 1706.In 50m rifle prone junior men’s event, Swapnil Kusale claimed the gold by shooting a score of 185.4. The silver was won by Qatar’s Mohammad Saad Almubarak and the bronze by Ce Wang of China.India also won the team gold in the event when Swapnil Kusale, Ishan Goel and Akhil Sheoran shot a combined total of 1839.4 to beat the teams from Korea and China.last_img read more