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Terms in this set (45)
If you want to build an app or business that leverage social connections on relationships, then you need to know how to define what and do what?
Be able to define "closeness" and find people that are connected throught the social network theory
Degree for Network Measurement
Star Network: This logic underlies measures of centrality and power based on actor degree, which we will discuss below. Actors who have more ties have greater opportunities because they have choices. This autonomy makes them less dependent on any specific other actor, and hence more powerful.
Circle Network: Each actor has exactly the same number of alternative trading partners (or degree), so all positions are equally advantaged or disadvantaged.
Line Network: actors that are more central to the structure, in the sense of having higher degree or more connections, tend to have favored positions, and hence more power.
Closeness for Network Measurement
Start Network: actor A is closer to more actors than any other actor. Power can be exerted by direct bargaining and exchange. But power also comes from acting as a "reference point" by which other actors judge themselves, and by being a center of attention who's views are heard by larger numbers of actors.
Circle Network: Each actor lies at different path lengths from the other actors, but all actors have identical distributions of closeness, and again would appear to be equal in terms of their structural positions
Line Network: the actors at the ends of the line, or at the periphery, are at a disadvantage.
Betweeneness for Network Measurement
Star Network: The third aspect of a structurally advantaged position then is in being between other actors. If A wants to contact F, A may simply do so. If F wants to contact B, they must do so by way of A.
Circle Network: all actors are equally advantaged or disadvantaged
Line Network: our end points (A,G) do not lie between any pairs, and have no brokering power
Explain Social Network Theory measures of centrality?
Each of the three approaches (degree, closeness, betweenness) describe the locations of individuals in terms of how close they are to the "center" of the action in a network
Apply the Network Effect conceptually to a growth strategy for a social network?
Social Media Conversations About Race
> Social media users see, share and discuss race and the rise of hashtags like #BlackLivesMatter
> Social media can serve as an important venue where groups with common interests come together to share ideas and information.
>The hashtag has been used approximately 12 million times from July 12, 2013, through March 31, 2016, and during this period, it was used more often in support of the movement than in opposition to it.
Star Network is the most powerful because there are fewer constraints, and more opportunities than others (line, Circle)
Science Facebook is built on
> hires piles of people with Ph.D.s in this work to help build the algorithms that power their networks and make their systems proprietary relative to their competitors
Who was FB initially built for?
Harvard students to rank girls
FBs brief history?
FB launched Feb 2004 at Harvard
In 2004, venture capitalist Peter Thiel invested 500,000
In Dec 2004, FB hit 1 million users (only 10 months after launch)
in 2008, the app was launched for mobile devices
In Feb 2009, the "like" button was added
2011, "timeline" structure becomes active
2012, fb acquires instagram
2013, the graph search is unveiled for users to look through phrases rather than keywords
is the percentage of a market (defined in terms of either units or revenue) accounted for by a specific entity.
Social networks are primarily powered by what...
Network effect: In economics and business, a network effect (also called network externality or demand-side economies of scale) is the effect that one user of a good or service has on the value of that product to other people. When a network effect is present, the value of a product or service is dependent on the number of others using it.
When a new user/member is added to the network, it increases the value of the product or service to all other users. This increased value can be in the form of cost reduction (in user acquisition as an example), higher liquidity (in a marketplace), stronger community or deeper relationships (in social networks), etc.
Is facebook a direct or indirect network?
The simplest network effects are direct: an increase in usage leads to a direct increase in value for all other users.
Not indirect bc indirect is when more people use a product or network, it sparks the production of complementary products and goods - thus increasing the value of the original product.
Direct Network Effect
an increase in usage leads to a direct increase in value for all other users
• Users can be content creators and content consumers
• Overlap between buyers and sellers in social networks
• Local v. Global network effects
Indirect Network Effect
when more people use a product or network, it sparks the production of complementary products and goods - thus increasing the value of the original product
• Ex: hardware or software product and the more it's used, the more likely developers will make software and apps for hardware
Key metrics from Facebook:
>1 in 7 people in the world have a Facebook page
>Average 150 friends (does that number sound familiar? Remember our earlier discussion of Tribes? Interesting, no?)
>There are about 5 billion likes/day
Explain if/how teen use of Facebook has been changing?
We do know that teen use of Facebook has dropped, but it has leveled off or been stabilized.
MAU and DAU (how is it calculated and why does it matter?)
Ratio of daily active users (DAU) to monthly active users (MAU)
This metric is used to measure the depth of engagement of a company's users.
>Example: While the monthly user count was enormous, the DAU over MAU revealed that most of those users only log in sporadically.
a DAU/MAU ratio of 50% would mean that the average user of your app is using it 15 out of 30 days that month. It turns out this simple metric is enough to predict, with a high level of probability, the success of a product.
companies struggle to maintain DAU to MAU ratios of 5% or less
Explain the importance of MAU and DAU as metrics for app or game
>Compare between 2 or more segments of users
>Measure DAU/MAU across time
>Compare between 2 or more versions of your app
>Use A/B testing to find out what elements cause Stickiness.
FB DAU and MAU insights
Since March 2009, when the earliest data is available, approximately 50% of Facebook users logged in daily (now at 58%)
More is More: High user engagement has an exponential effect on user growth
One Way to Grow: clearly a good acquisition channel is mandatory, but not sufficient or else you will likely only have one major way of acquiring customers and it won't be much of a secret
Engagement as Advantage: Engaging products gain their advantages by leveraging tiny improvements, which together create huge advantage
Can't Have One Without the Other: Creating a company with both high engagement and high growth requires a sound distribution engine fueled by active users. Both engagement and growth are essential to a company's viability and by adhering to the tao of DAU and MAU, founders have an accurate point of focus to increase their odds of success.
What percent of FB users are not in the USA?
84% of their users are not in the USA
Social Media Marketers use the phrase "Mobile First" which means?
Mobile is driving major changes in how consumers research and buy across a wide range of industries.
So for online marketers it is no longer enough to rely on responsive site design and a mobile app. You need to think mobile-first.
Justify a "mobile first" strategy for a Facebook marketing campaign?
Paid search revenue grew by 120% on mobile phones
Spend on mobile phone advertising grew globally by 77%, driving a 120% increase in revenue. Mobile phone ads saw Click Through Rates (CTRs) increase by 45%, with impressions up by 79%.
Some social media marketers push for "Mobile only" which means?
Thinking about how mobile users are different than desktop users and how you can create different approaches for them
While mobile is often referred to as the second screen, the reality is that smartphones are really the first screen among connected consumers.
Nielsens conducted study revealed that more than a third that were surveyed said they used mobile exclusively
How many viewed pages on the internet in the US are on FB?
One in five pages viewed on the Internet in the USA is on Facebook. I'll say that again - for all people in the USA, on the Internet right now, for every five pages they view, one of them is Facebook. Woah.
1/5 pages viewed from internet in USA are from FB!
How many minutes a day does the average US Fb spend?
The average US Facebook user spends 42 minutes a day on Facebook.
How many hours a month do FB users spend on FB's mobil app?
Facebook users average 14 hours a month (Links to an external site.) on their mobile app.
Which gender is more likely to use FB and how (indirectly or directly)?
Facebook's gender skews slightly female & active (53% of MAUs are Female) and they use it differently
>Women want to help others
>Men tend to focus on the likes
How many pieces of information could be shown up on your newsfeed at any point?
There are over 1500 pieces of information that could be shown your newsfeed at any point in time. The fb news feed algorithm determines what gets shown
What time during the week are FB users most active during?
Highest traffic is midweek 1-3pm
Thursday and Friday's FB engagement is what?
Thursday and Friday engagement is 18% over average
What's the fastest growing demographic for FB?
Fastest Growing Demographic on Facebook is over 45
What's currently the largest age demographic for Fb?
Age 25-34 at 29.7% is largest age demographic
What is the Share to Post ratio, and what is the current ratio?
The Share to Post ratio is 9:1, meaning that for every one thing that someone posts (as original content), nine things are shared by that person.
How many pieces of content is shared a minute?
700K pieces of content shared/minute
It's also important to remember that Facebook is not simply a collection of status updates and links but it also is...
It is the world's largest archive of photos with about 400 million photos uploaded daily
What social network site is currently challenging FB/ insta?
Facebook/Instagram are only challenged, at the moment, by Snapchat, in terms of daily uploads (each accounting for about the same percentage of daily uploads.)
Describe Facebook as a visual marketing opportunity?
Videos, read content below
Fb and videos?
The early 2015 numbers were showing 3 billion video views each day on Facebook.
Compare that to YouTube's 4 billion views each day and you see how Facebook is trying to unseat YouTube as a video platform.
In fact, in November 2014, the number of video uploads to Facebook exceeded that to YouTube.
Facebook video posts are up 94% over last year and everyday half of all US Facebook users watch a video.
How has Fb improved on their video viewing process?
In the last six months they have significantly improved the video tab on brand pages, created a Featured Video Module, and allowed users to embed Facebook videos on webpages.
Why should marketers embrace FB video viewing?
>videos on Facebook play automatically when you view them in your News Feed
>The videos uploaded to Facebook are mostly personal, with an expectation (albeit a flimsy one) of limited exposure
>Not only do advertisers get access to that audience, they can segment and target them with impressive granularity using Facebook's ad targeting tools.
>Facebook also recently rolled out Facebook Lite, a stripped down version of its app, designed to work on the lower-end Android devices and slower internet speeds available to users in developing countries.
Explain how Facebook makes money
advertising, sponsored posts and ads that you can see on the website and mobile and their high 25% referral rate on the internet is enticing for business to do business with them
What percent is FB driving for ALL referral traffic?
>Facebook is driving 25% of ALL referral traffic on the Internet
>If you look at every link that someone clicks on and then end up at another page (like your brand's page,) one in four of those clicks is from Facebook. And - to the whole point of this class - one in three is from social media in general. Social media is driving more referral traffic than search. Noodle on that.
****Shareaholic report shows Facebook with a 10% increase in share of visits in Q4; Social media continues to drive more referrals than organic search.
The Facebook Social Graph
Facebook's ability to depict your network of friends and the varying strengths of those relationships supports all your mutual information sharing. For others — third parties — this "social graph" makes it possible to make personalized recommendations to you, and everyone else
Provides the means for acquiring data not as social tools being the end product.
>Facebook, in particular, saw the big opportunity in the "information exhaust" produced by all that user activity to produce a higher-level intelligence layer that would be useful to other businesses
Help businesses manage their own partner relationships better, and also help third parties to those ecosystems understand them and spot ways to make targeted offers to those within them.
Describe how brands leverage Facebook's Social Graph? ARTICLE FROM MOZ
The introduction of a large number of much more sophisticated search operators, or ways of searching, layered over the top of a greater connected data set.
1. Audience insight
2. Influencer discovery
3. Influencer research
4. GSO - Graph Search optimization
i.e. take this lollipop or how Netflix Taps Facebook To Let You Privately Recommend Content To Friends
Launch a brand's Facebook page
FIll out all the sections you can about your brand - including history, about, hours, etc. The more info you provide, the more likely you are to come up in Facebook search results. Fill everything out and be sure to include links to your website, Twitter profile, and other social media.
You will want to make sure your page is loaded with content before going public with it. If you only have a couple of posts, first time visitors will assume that it will be an inactive page.
WILL NOT BE LIVE TILL 25 PPL LIKE YOUR BRAND
Manage different roles:
>Manage admin roles******
>Edit the page and add aps
>Create post as the page
>Respond to and delete posts
>Send messages as the page
>Edit the page and add aps
>Create post as the page************
>Respond to and delete posts
>Send messages as the page
>Create post as the page
>Respond to and delete posts************
>Send messages as the page*********
THIS SET IS OFTEN IN FOLDERS WITH...
Module 5: Digital Marketing Best Practices
Module 10: LinkedIn
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