Open Letter to CFOs: Social Media is an Administrative Cost

What a difference eight years makes: St. Peter's Square in 2005 and yesterday! Within seconds of the Pope's announcement, Twitter was already trending #pope! The news spreads faster through private individuals than media outlets. The simple truth is this: mobile is the future and social media platforms such as Twitter and Facebook are the new media outlets. Social media is not an advertising or marketing expense, it is an administrative cost. How does this translate to businesses and individuals looking to connect with their audience? A growing proportion of traffic is coming from smart phones and tablets. The market is responding with 8 in 10 media buyers planning to increase their mobile advertising in the next 12 to 18 months. The challenge is to not only capture people’s attention on their mobile devices, but also to engage them on a personal level. With a growing distrust of traditional advertising, consumers are tuning out. As many as 79% of television viewers skip at least some ads by channel surfing during commercial breaks.

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Facebook vs. Twitter - Who Packs a Stronger Punch?

The advantage we have with social media, especially Twitter, is the ability to openly listen to other conversations and engage with them as well as connect with individuals having similar interests. Through our research we have found many limitations to Facebook. While a great tool, it limits your ability to connect with people, unless they are on your fan page. Facebook is a good solution for large companies with large budgets, and while we find that Facebook is indeed useful, we still see Twitter as one of the very few “true” social media platforms out there -- where, essentially, you can connect with just about anyone.

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Promoted Trends on Twitter Now Cost $200K

The Promoted Trends feature on Twitter has been upsized to the tune of $200,000 a day in the US. What started as an $80,000 fee in 2010, when Twitter first introduced the feature, has now more than doubled in cost.

This unique function is part of Twitter’s advertising services suite that allows a given company to buy a custom hashtag, which appears at the top of the list of currently Trending Topics. When users click on this hashtag, they see a tweet from the company at the top of the list of results. Below the top tweet, Twitter brings up user tweets about the trend in an organic manner, without any tweaking or adjustment from the buyer’s side; so the advantages of widespread publicity need to be weighed against the potential risk of bad press.

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Our Network: Connecting the world together, one person at a time

The purpose of our news network aka BColonies, is to provide our shared local audiences with news and opportunities to interact locally on a one-to-one basis. While we build more communities at the local level we ultimately have an eye towards growing our existing networks and expanding the reach of our extended community. We would like to thank everyone has interacted with our BHive News Network project and appreciate the opportunity to clarify for those who do not understand what our intentions are. 

Bhive is a small network of under-employed bloggers -- who, by adhering to a sensible business model, seek to bring online social presence to individual professionals and organizations of all sizes. Currently, we are somewhere between a social media agency and a guild of online writers.

So what are we doing? We research things. We are a laboratory. We are a bunch of writers looking to innovate models and create opportunities for our present and future clients. We are not social media gurus or experts, we are like everyone else, when we hear that something is a great tool to use, we need to have some proof of our own. While there is a plethora of information out there, we wanted to test our own socializing model, so as to set an internal benchmark to measure ourselves against.

Unfortunately, there is no cookie-cutter model that can be followed in order to have success using Twitter. Nonetheless, we set out to develop a network and see what other people are doing, first hand. Within its development, we uncovered a multitude of virtual communities and news sources that allowed us to engage in local conversations. We developed a set of internal metrics to measure and predict how long it would take a company/professional to build an organic local audience. Information that we did not readily find during our initial research.

In a nutshell, social media is the new frontier and, as outsiders we chose to blaze our own path -- "Two roads diverged in a wood, and I took the one less traveled by, And that has made all the difference," This is what we believe social media is truly about -- doing your own thing. Whether you have followed our main twitter account, heard about us, or through one of our peripheral accounts (bees), we'd like to welcome you to our small network of friends. Sort of our extended community :)

What's next?

A. If you have any questions, comments or suggestions regarding our network please feel free to contact us here.

B. Want a little more info on how you can build a community of your own, click here.

C. Want to know a little more about us, click here.

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Touched by one of our bees?

From our very own BColony/News Network which provides local and regional audiences with up-to-date news as well as enable us to interact locally on a one-to-one basis. 

Why you should build your community, here is a (short 10 min) Peter Clayton podcast interview of Chris Brogan, author of Trust Agents: Using the Web to Build Influence, Improve Reputation, and Earn Trust -- listen here.

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Does Twitter Work?