Louis CK: Live at the Beacon Theater:
The show went on sale at noon on Saturday, December 10th. 12 hours later, we had over 50,000 purchases and had earned $250,000, breaking even on the cost of production and website. As of Today, we’ve sold over 110,000 copies for a total of over $500,000. Minus some money for PayPal charges etc, I have a profit around $200,000 (after taxes $75.58). This is less than I would have been paid by a large company to simply perform the show and let them sell it to you, but they would have charged you about $20 for the video. [emphasis mine] They would have given you an encrypted and regionally restricted video of limited value, and they would have owned your private information for their own use. They would have withheld international availability indefinitely. This way, you only paid $5, you can use the video any way you want, and you can watch it in Dublin, whatever the city is in Belgium, or Dubai. I got paid nice, and I still own the video (as do you). You never have to join anything, and you never have to hear from us again.
(Via The Loop.)
Information on the internet is costly to produce, near costless to distribute, but marketing can be an issue, a costly one at that. Louis CK has an established brand so he can take the risks in production and let the viral nature of the Internet do its thing.
The experiment was successful but it’s not a game changer for Louis CK per se. (If you doubt that, you put out $250,000 for production and see how viral your show goes.) He just cut out a middle man, made more money and we saved some. That’s the game changer for the big distribution, really marketing, companies. Social networking is not good for their business model. Not at all.
Read his whole post. A lot to learn there.
How Much Is Your Brand Loved (Or Hated)? – The BrainYard – InformationWeek:
Passion makes a difference, in social media analytics as in life in general.
Measuring the intensity of emotion is one way NetBase distinguishes itself in the crowded field of social media analytics. Or, as Chief Marketing Officer Lisa Joy Rosner puts it, “I’m quite passionate about how we measure passion.
The point is to distinguish between liking and loving, mildly disliking and intensely loathing, while also trying to dodge linguistic pitfalls like satire that can confuse a computer program. NetBase does a good enough job of it that it has been able to win the business of major consumer products companies like Coca Cola and Kraft.
(Via Information Week – Business Intelligence.)
I’m not sure about this. A mentor of mine found in his research that passion drives comments. The more you care the more you tend to comment. So, how do you account for people dissatisfied or satisfied with your product but don’t care enough to comment? How does that change the reading on the love-o-meter?
Companies marketing to small businesses should also establish a presence on top social networking sites such as Twitter and Facebook before pursuing more IT resource-intensive initiatives (such as creating a company-managed online community).
via How to Use Social Media to Engage Small Business Decision Makers – Web Services Web 20 and SOA from eWeek.
The main strategic reason this is good advice is because of what are called network effects. Chief among them is the desire of network participants to go where everyone else is. This gives you great bang for your marketing buck in terms of both time and money.
Coincidentally, I looked into creating my first Facebook company “Page” today for just this reason this evening. What I’m deciding is not just to have the Page but how to best spread the word on such sites as Facebook, control content, etc. It is not a no-brainer, you need to carefully consider how such a presence affects your image and brand as well as the impression it leaves with your target market. For example, what kinds of comments will be on your Facebook Page? “Hi babe! Long time no see!” is not exactly professional and would probably be counterproductive to what the Page is trying to accomplish.
So by all means get your company out there and be social! Just remember to wear a suit when you do.