April 24, 2008

Learning what makes Facebook tick

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I joined Facebook a short while ago and was invited to join a group that was studying  the

psychology of Facebook!  I thought it was going to be interesting and useful and that turned out to be very true.

A representative of the BBC wrote an article, which I am sharing here.  I'll write something a little bit later

when I have time to focus on it.  Here is my Facebook profile:  You can be my friend there, if you wish:

http://profile.to/angelawickenberg/

My Twitter profile is twitter.com/EbizMom

which I update several times a day directly from my Facebook account.

Anyway, here's the article:

 

By Maggie Shiels
Technology reporter, BBC News, in San Francisco

Facebook
Students prepare to learn the secrets of Facebook

A group of students at Stanford University in the heart of Silicon Valley have turned their attention towards a unique course that blends popular culture with the more time-worn principles of psychology.

The Psychology of Facebook is the brainchild of Professor B J Fogg, a pioneering persuasion psychologist who founded the Persuasive Technology Lab at Stanford.

He says: "When Facebook came along I was one of the developers at the launch and what struck me was how there was this new form of persuasion. This mass interpersonal persuasion."

Professor Fogg says the pivotal moment came when he watched an application on the site go from "literally zero to more than a million users in a week".

He recalls that it was to do with music sharing and buying tickets and that that was when he had his "oh my gosh moment". It was quickly followed by a light bulb moment.

"Where on earth could you get a million customers in a week? That was when I said 'I want to learn more about this' and I thought the best way was to teach a class and look at how persuasion happens."

Usual coterie

It's Thursday afternoon and the sun is splitting the sky above the adobe-coloured Cordura Hall, the venue for Professor Fogg's Psychology of Facebook course. Outside there's a rag tag collection of people dodging the searing heat.

Alongside the usual coterie of students is an older crowd known simply as "visitors". These people are an assortment of entrepreneurs, angel investors, business heads and myself the only journalist.

Professor B Fogg
Facebook right now stands out from the crowd. Can they continue?
Professor B Fogg, Standford University

As we wait for the technology to click into place that allows another 700 students to tune in online, Professor Fogg declares that his goal is to help everyone to become a world class expert on the psychology of Facebook.

But this is no one trick pony according to the Professor. "What we learn here isn't just relevant to Facebook. The psychology that drives Facebook relates to other online success stories, including those blockbusters yet to be invented."

"There is something enduring about what we are studying," he declares, "whereas if you are learning how to programme a Facebook application, that then could change in 30 days from now. In fact it probably will; so that knowledge breaks."

Dissects aspect

Each week the class dissects an aspect of Facebook and looks at the way it works, the psychology behind it and what impression users are trying to convey. The gamut runs from examining status updates to news feeds and from poking to writing comments.

Today the focus is on the use of profile pictures, the photograph on the front page of every Facebook entry.

The discussion is led by Psychology Senior Richard Barton, who maintains Facebook's high strike rate in this area has to do with the default picture it puts up if you don't post your own.

"Who wants a question mark in place of their face and what questions does that raise about you? Like, why are you on Facebook? And so basically Facebook sets up an environment where your friends do the persuading to get you to post a picture."

Professor Fogg contends this is at the heart of Facebook's achievements.

"What they're tapping into are some fundamental drivers and it makes it easy to satisfy those drives. Things like the need to be socially accepted and the flip side is to not be rejected."

Class experiment

The other strand to Professor Fogg's persuasion theory has to do with motivation and outcomes, questioning why users post a certain type of picture and why they constantly change them or not.

Richard Barton, Psychology Senior
How does the Facebook 'question mark' persuade users?

To illustrate his point he conducts a class experiment asking people to write out how they want to be regarded based purely on their profile mugshot.

The findings are revealing:

"Fun, outgoing, nature loving."

"I was too lazy to rotate my picture and then I had the idea that if I left it you would think I was cool and good looking." "I'm hot."

"I want to remind my children that I was young once."

"Make people think about peace."

"Web 2.0 revolutionary and world traveller."

Professor Fogg says this random sample proves that behind even the innocent act of posting a profile picture, the psychology of persuasion in managing your image or the impression you give off is at play.

And he stresses that albeit unconsciously, Facebook's unbridled success lies in getting users to to do the work for them with friends persuading friends to post pictures, comments, or upload applications.

"I would say they were lucky and have been responsive to users but I don't think they are persuasion masterminds."

Straightforward tools

While luck might have played its part in turning Facebook into a major force in social networking, the entrepreneurs attending this course are looking for straightforward tools to help their businesses hit the jackpot.

Rob Ross has developed the Footsies application for Facebook and is working on others. For him the course is a portal into how he can make his business more relevant.

He says: "This opens a door that has not been opened before. This is going to change the game."

Student Roman David agrees: "It's beyond dollars and cents. That is part of it but its also where the opportunities are for entrepreneurs and about how the world is changing."

Professor Fogg says while his class is about trying to understand what makes Facebook tick, the people behind the site have a similar task to ensure it remains a dominant player.

"Facebook right now stands out from the crowd. Can they continue? So far with its fifty million plus users they're doing a pretty good job."

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May 23, 2008

On Standford's Facebook Project And The Power To Make Millions

Apropos Facebook for business and how to make money from your content and network on Facebook, I found this article on Early To Rise:

7 Sizzling Business "Discoveries" From Stanford's Facebook Project (and How They Can Help Any Entrepreneur Make a Million Bucks)

By Charlie Byrne

Last week, Mark Zuckerberg turned 24. 

And my guess is, he's pretty pleased with himself so far. 

A college dropout, but from Harvard. A self-starter who launched a business from his dorm room. And, oh yeah, the world's youngest self-made billionaire, according to Forbes magazine. 

Make that a "theoretical" billionaire, since nobody is really sure exactly how much his hugely popular social networking website - Facebook.com - is actually worth. It's not publicly traded (although Microsoft recently laid out $240 million for a 1.6 percent stake). It's not clear where it's headed. (Mark himself isn't sure.) To some people, it's not clear what purpose it's supposed to serve either.

But at least two things are sure.

First, people love it. Nearly 70 million visited the site last month alone. And second, it's looking like one of the greatest entrepreneurial innovations since, well, since someone launched the first business that offered sliced bread.

One area that's receiving plenty of attention is Facebook "apps" (applications). From useful tools such as stock market tickers and productivity management helpers… to complete time wasters such as "Give the Imaginary Puppy a Bone" and "Who's the Coolest Person You Know"… there's a Facebook app for just about everyone and everything.

After (if) you've chosen to add one of them to your Facebook homepage, it appears in your browser whenever you sign into Facebook. Most of these mini software programs are developed by third-party entrepreneurs and monetized (not always successfully) through a classic advertising model: Get eyeballs and sell ad space or place affiliate ads.

Facebook apps are so big right now that B.J. Fogg, a professor at Stanford University, launched a semester-long project just to develop more of them for Facebook users. 

At the end of the project, Professor Fogg and his students published a report to name the entrepreneurial "discoveries" they had made. But were they really breaking new ground… or just reinventing the wheel?

I decided to take a look. 

Combing back through the longstanding principles you've come to know and love by reading ETR and Michael Masterson's new blockbuster book, Ready, Fire, Aim, I found at least seven "power principles" with fascinating parallels to the Stanford project.

ETR Longstanding Principle #1: Introducing Products in a "Mature" Market

Consumers aren't looking for brand-new products. They are looking for clever new adaptations of products they already know and love. When it comes to new, the human brain can take only a little bit of it. Eighty percent of the old and 20 percent of the new is a good ratio. Your goal is not to develop brand-new ideas, but to notice trends that are beginning and develop products that anticipate that trend by a little - just enough to catch your customers' attention.

Stanford Students' Discovery: "It's Never Too Late to Create a Winning App." When Stanford launched its project, over 6,000 Facebook apps already existed. Just 10 weeks later, the students had six apps in the top 100. None of them were radically innovative.

ETR Longstanding Principle #2: The Power of Simplicity

You can sell your product very well by talking about its many benefits, but the most successful advertisements are those that highlight a single benefit above all the rest. When this benefit can be presented as uniquely characteristic of your product, you have an advertising proposition that can last and last and last. Consider any great marketing campaign - Burger King, Charmin, Marlboro. Examine any best-selling, non-fiction book - The 7 Habits of Highly Effective PeopleWhat Color Is Your Parachute?,  Chicken Soup for the So ul, etc. What do they all have in common? Simple themes. Ideas so simple they can be expressed - and understood - in a few short words.

Stanford Students' Discovery: "Simplicity & Clarity Are Key to Success." Too many and too clever features must be avoided. Make the app easy to understand and easy to use.

ETR Longstanding Principle #3: Ready Fire Aim

Prudent entrepreneurs do not want to risk all their time and money on a single product. For the best chance of having a successful business, they need to be flexible about what they are going to sell. If their first product idea doesn't sell well, they have to be able to generate a second one. Innovation matters. And so does speed. Combined, they give your business extraordinary growing power.

Stanford Students' Discovery: "Speed & Flexibility in Launch & Iterations." Many fast and imperfect trials beat deep thinking. Flexibility beats quality. Getting too attached to one app idea can be fatal.

ETR Longstanding Principle #4: Teamwork Accelerates Success

Don't even try to be a solo creator. You will get much better results much faster by working with a creative team. Sometimes you might get ideas while showering or exercising or sitting on an airplane. But don't act on those ideas. Write them down and bring them up when you're brainstorming with a group.

Stanford Students' Discovery: "Community Cooperation Leads to Success." Students helped each other a lot, sharing app development tools, tips, and insights.

ETR Longstanding Principle #5: Check Your Ego at the Door

How do you know your product idea is good? Because you think it is? Business is not and must never be about what the business owner thinks is good or right. Business is about providing value to the customer. And that value can be determined only by the customer. Don't let your ego convince you that you can teach the marketplace what it should and should not buy, or you and your ego will soon find yourselves in the poorhouse.

Stanford Students' Discovery: "Individual Opinions About Apps Are Worthless." Don't be swayed by one person's opinion. Just get the app out there and see what happens.

ETR Longstanding Principle #6: Don't Be a Pioneer in a Market

When it comes to answering most of the fundamental questions about selling your product, the best answer will always be this: Imitate the industry norm. If you are always trying to come up with product ideas that are completely new and different, you will likely have a very poor success record. Let others live (and die) on the "bleeding edge."

Stanford Students' Discovery: "Copying Success Is a Cheap/Fast Way to Succeed." Novelty isn't the best approach to apps. If you're desperate for a win, just copy something that's working. Flipside: If your app is doing well, expect imitators.

ETR Longstanding Principle #7: Accelerated Failure

Success isn't usually about genius. It is more often about trial and error. Money loves speed, so spend your time trying new permutations of existing successes rather than endlessly hoping to find the "next big thing." Don't be satisfied when things are "running smoothly." An entrepreneurial business should never be running smoothly. Accelerate failure. Cut your losers and run with your winners.

Stanford Students' Discovery: "Success Comes From the Chaos/Control Cycle." Successful innovation is a process.

So there you have it…

Now I didn't have access to the details of everything Stanford attempted. They probably made a ton of easily avoided mistakes. And it sounds like they had some very nice successes as well.

Over the course of their project, they generated somewhere in the neighborhood of $1 million in revenue from their Facebook apps… not to mention at least three new companies that were formed during the experiment, two others that were acquired by outside interests, and reports of lucrative job offers for all those who completed the program.

But I'm willing to bet they could have had a LOT greater success, a LOT sooner, if they'd spent some time reading Early to Rise and Ready, Fire, Aim first.

That's where you have an advantage. You see, every day you get (for free!) what took about 75 smart Stanford students months and months to learn. (And think of all that tuition you saved too!)

So congratulations to the smart and energetic Stanford students who learned these lessons the hard way - valuable business principles that most people never discover. You're getting them the easy way… but now it's up to you to go out and use them.

Of course, you've got to be careful out there. Just because lots of people are talking and writing about Facebook doesn't necessarily make it a lasting business model. There have been plenty of "next big things" on the Internet that have turned out to be quite the opposite.

But you've got the knowledge to find out quickly, without spending a fortune, if a business idea is going to work. So who knows? Use ETR's ideas to develop an "app"… and maybe YOU will be next to make a million bucks on Facebook!

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August 6, 2008

Big News on Google Adwords

In June, Google updated Google Trends with numbers and the ability to download results to a spreadsheet. They received a lot of great feedback from agencies and advertisers on how they're using the new version; from identifying new growth markets to optimizing their Google AdWords campaigns.

Today, Google launched Google Insights for Search, a new product designed with the advertiser in mind. It provides more flexibility and functionality for advertisers and marketers to understand search behavior, and adds some cool new features like a world heat map to graphically display search volume and regional interest.

Like Google Trends, you can just type in a search term to see search volume patterns over time, as well as the top related and rising searches. You’ll also have the ability to compare search volume trends across multiple search terms, categories (commonly referred to as verticals), geographic regions, or specific time ranges.

Let's take the example of entering the term apple. You'll notice that the majority of top related and rising searches are associated with the brand Apple.

Google Insights for Search allows you to filter this query by the Food & Drink category, resulting in a dramatically different view of search volume trends and related searches of apple, the fruit. You can also use this filter to compare search terms with the category (for example, apple compared to the Food & Drink category).

Read the entire post here:

http://adwords.blogspot.com/2008/08/announcing-google-insights-for-search.html

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July 14, 2008

Replay of Call With Joe Sugarman

I wasn't happy with the quality of the first call.  There were problems with getting on the call, with the webcast and with the recording.  It was also 3 AM for me. So we did another interview, which turned out very well.

A replay of the call with Joe Sugarman will be available at http://StrategyCalls.com after some minor editing.  I'll write a new post, announcing when it is ready later this week.

In the meantime, I hope you're enjoying the Summer!

/Angela Wickenberg

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July 10, 2008

Meet Direct Marketing Legend Joe Sugarman Teleseminar/Webcast Tonight @9 PM Eastern!

It is my honor and pleasure to invite you to a teleseminar/webcast tonight, July 10th at 9PM with marketing legend Joe Sugarman!

(link no longer valid - a new link with the replay will be available in a new post shortly)

What Clayton Makepeace says about Joe Sugarman

"Joe’s direct response exploits are the stuff of legend.  And he’s a great case study for copywriters looking to hit the big time with a business of their own AND for business owners and marketers eager to generate a flood of new customers, sales and profits."

What Dr. Joe Vitale says about Joe Sugarman:

"We have the opportunity to brand our product and brand our name. Joe sugarman has built multiple blockbuster businesses - JS &A mailorder catalogue and Blublocker Sunglasses. "

Joe Sugarman is a direct marketing pioneer:

  •     In 1973 revolutionized direct marketing when he was the first to use 1-800-number orders by credit card.        
  •     The first to run full page space ads in the Wall Street Journal and many national magazines.       
  •     One of the first marketers to use half hour long infomercials to sell products on television.
  • He has received Direct Marketing Man of the Year in 1979 and other awards.

Joe is a best-selling author of business books that are must-reads for entrepreneurs, copywriters and  marketers.

I hope you will join us on the call!

Here's the link:

(link no longer valid - a new link with the replay will be available in a new post shortly)

TIME in  Hawaii, California, USA,  New York, NY, Sweden and Japan

Thu 7/10/2008 3:00 PM   Thu 7/10/2008 6:00 PM*   Thu 7/10/2008 9:00 PM*   Fri 7/11/2008 3:00 AM*   Fri 7/11/2008 10:00 AM 

 Here are the search results for "Joseph Sugarman" Amazon.com

Showing 1 - 8 of 8 results for "Joseph Sugarman" in Business.
The Adweek Copywriting Handbook: The Ultimate Guide to Writing Powerful Advertising and Marketing Copy from One of America's Top Copywriters The Adweek Copywriting Handbook: The Ultimate Guide to Writing Powerful Advertising and Marketing Copy from One of America's Top Copywriters by Joseph Sugarman Buy new: $13.57 / Used from: $11.46 Usually ships in 1 to 3 weeks
Triggers: 30 Sales Tools you can use to Control the Mind of your Prospect to Motivate, Influence and Persuade. Triggers: 30 Sales Tools you can use to Control the Mind of your Prospect to Motivate, Influence and Persuade. by Joseph Sugarman Buy used from: $48.50
Advertising Secrets of the Written Word: The Ultimate Resource on How to Write Powerful Advertising Copy from One of America's Top Copywriters and Mail Order Entrepreneurs Advertising Secrets of the Written Word: The Ultimate Resource on How to Write Powerful Advertising Copy from One of America's Top Copywriters and Mail Order Entrepreneurs by Joseph Sugarman Buy used from: $68.35
Marketing Secrets of a Mail Order Maverick : Stories & Lessons on the Power of Direct Marketing to Start a Successful Business, Create a Brand Marketing Secrets of a Mail Order Maverick : Stories & Lessons on the Power of Direct Marketing to Start a Successful Business, Create a Brand by Joseph Sugarman Buy new: $39.95 / Used from: $85.00 In stock soon. Order now to get in line. First come, first served.
Television Secrets for Marketing Success: How to Sell Your Product on Infomercials, Home Shopping Channels & Spot TV  Commercials from the Entrepreneur Who Gave You Blublocker(R) Sunglasses Television Secrets for Marketing Success: How to Sell Your Product on Infomercials, Home Shopping Channels & Spot TV Commercials from the Entrepreneur Who Gave You Blublocker(R) Sunglasses by Joseph Sugarman Buy new: $39.95 / Used from: $30.00 In stock soon. Order now to get in line. First come, first served.
Advertising Secrets of the Written Word: The Ultimate Resource on How to Write Powerful Advertising Copy from America's Top Copywriter & Mail Order Entrepreneur Advertising Secrets of the Written Word: The Ultimate Resource on How to Write Powerful Advertising Copy from America's Top Copywriter & Mail Order Entrepreneur by Joseph Sugarman Buy used from: $129.95
Advertising Secrets of the Written Word: The Ultimate Resource on How to Write Powerful Advertising Copy from One of America's Top Copywriters and Mai Advertising Secrets of the Written Word: The Ultimate Resource on How to Write Powerful Advertising Copy from One of America's Top Copywriters and Mai by Joseph Sugarman Buy used from: $49.99
Advertising Secrets of the Written Word; Marketing Secrets; Television Secrets --The Complete 3-Volume Set Advertising Secrets of the Written Word; Marketing Secrets; Television Secrets –The Complete 3-Volume Set by Joseph Sugarman
(link no longer valid - a new link with the replay will be available in a new post shortly)

Meet you on the call!

Angela Wickenberg

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July 7, 2008

Replay of Call With Ben Mack Available

So cool! And what a relief! I hosted the premier Strategy Calls seminar today with Ben Mack. 

The replay is here: http://www.instantteleseminar.com/?eventid=3493947

Joe Sugarman came on the line, too. Ben Mack coached callers right on the line!

BenMack BenMack @EbizMom Angela, I'm grateful u had me on! What a treat JOE SUGARMAN… how did u make that happen?

:)))


I think it turned out pretty good.  Ben put me on the spot at the end of the call, though. Listen how I stumble through summarizing the call! LOL!

Here are some of the comments from the listeners on the call:

Hi Angela — I wanted to congratulate you on your with Ben Mack and the apparent good fortune of Joe Sugarman joining the call as well! That should be excellent publicity for you for future calls! Since much of what I do as a Writer, Speaker and Spirit Coach involves prayer — I thought I'd send you one for your new venture:

Dear God — thank you for the blessing of Angela who is so keen to help others and has the courage to step forward with her idea and put it into action. Thank you for making the way clear for Angela and showing her exactly what needs to be done at each step of the way and the best way to do that. Thank you for those that she is helping with these calls and thank you for the guests who will bless us all with their contribution. Thank you also for your grace dear Lord. And so it is.

AMEN.

Blessings to you Angela! And continued good luck and good fortune!

Yvonne Lyon YvonneLyon @EbizMom Thanks for the great call with @BenMack - it was super-educational!

Franca Franca @EbizMom Congrats on the very good call with @benmack. Pretty informative info discussed for the small business owner. Very clear concepts.

 

JimZaccaria JimZaccaria @EbizMom Thanks for hosting the call Will you be putting that on CD to sell, or use as a Bonus? Simple to do

  Franca Franca @EbizMom Great surprise added bonus to the call - learn how @benmack makes the JV (Joint Venture) smooth moves on Joe Sugarman. Classic! Wow! 

 

Here are more Tweets on the subject:

SpiritCoach @BenMack-the way u handled that call today made me a believer - and that was after the Too Much Info over the weekend! : ) SpiritCoach @BenMack-I'm on webcast. Call just started peeps-BenMack on Branding for Solopreneurs http://ping.fm/gmOan

SpiritCoach
@BenMack-u r a master of persuasion in how u r handling this call! : ) BenMack @SpiritCoach Thank you for complimenting me! The call was a blast and a gift it was to have the Living Legend Joe Sugarman call from Hawaii BenMack @lksugarman Miss Sugarman, are you related to Living Legend Joe Sugarman? Is that Y he came on my call this morning b/c your his daughter? lksugarman @BenMack no, no relation. He came on yr call because you're unpredictable, profane, and brilliant. Wish I'd been on that call myself.

Thank you everybody!

Angela Wickenberg

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