Today I read a blog post by Dave Rosenberg on Facebook and how much money they are making from the sale of virtual goods. Some estimates have come in at $34.5 million of how much Facebook users have sent on virtual goods.

Virtual goods. That’s right, fake goods that you can buy for people and post in their profiles. But this line is what caught my attention:

“The vast majority of Facebook gifts are bought from the first screen of gifts in the directory–almost 80 percent of the total sales come from the group of the first 20 gifts. This points to the self-reinforcing nature of popularity (the crowdiness of crowds rather than the wisdom of crowds) when popularity data is made public.”

This “crowdiness of crowds versus the wisdom of crowds” is a very important concept to think about as it pertains to e-commerce, blogging, and establishing power users in social networks.

People like to follow the crowd. In the Facebook example, the most popular products rise to the front and this prequalifies the selections for those who are not as decisive. The thinking may be, “well others like these products so I should too.” When strategic levers are in place, marketers can leverage this phenomenon to create great results. Read more…

So far in my brief 10 months of Twittering I have gained friends, business contacts, and even clients. Every one has heard of the “elevator pitch”. You know, the 2 sentences or so that describes what you do quickly and succinctly to potential clients, employers, or investors.

But the proliferation of social networking for business, use of mobile devices and instant messaging, it may be important to shave down those elevator pitches to 140 characters or less.

I believe you should be prepared with a Twitter-style elevator pitch for you or your company. Mine is below. What would yours be? Leave it in the comments and feel free to list a link to your business and a contact number as well.

I’m a direct marketer, creative director, and blogger with a focus on identifying, engaging, and driving action to your profitable customers

P.S. Bonus points if you do it in exactly 140 characters.

One summer when I was home from college, I took a job as a telemarketer. It was the most stressful job I have ever had in my life. I had a quota to fill every week. And if I didn’t deliver, I would be let go.

But, for as stressful as it was, it taught me quite a bit about persuasion. Our product was a publication for board members of non-proft organizations. It was a monthly publication that provided content that would allow non-profit organizations operate more cost-effectively and efficient both in their internal processes and in how they raise money through donations and sponsorships.

The sales pitch was something like this: Read more…

There is an interesting report recently published by Forrester Research and reported by ZDNet on Social Technographics.

In the study, Charlene Li and Josh Bernoff identify six levels of participation in the social web universe. These rungs on the ladder range from Inactives (52% of those surveyed) to Creators (13%).

“For marketers, the report recommends, the idea is to select the target audience, see where they fit on the ladder and then establish a relationship based on what they are ready for.”

Understanding your customer and where they fall in this ladder is crucial to your company’s online success. Create the right content, and you can grow your relationship and your share of wallet. But defining that appropriate place can sometimes be difficult. Read more…