January 2011

We’re already fast approaching the end of the first month of 2011. Yes, i’s going to fly by this year too…

Here’s a quick look at what’s currently hot in the world of digital media and marketing:

1. Facebook

This is probably not a surprise but…

According to this chart from emarketer, Facebook’s revenue will reach $4 Billion by year’s end and apparently they brought home over $1.8 Billion in bacon in 2010.

Surpassing the 500 million user mark in 2010 and having a hit movie released all about its founding, you might say 2010 was the year of facebook. And 2011 looks like it’s going to be even more, and more, and more about: you got it….facebook.

Canadian companies would do well to note that as of this exact moment in time (9:46 AM on Tuesday January 18th) facebook has 16,636,880 Canadian members, or right around 50% of the population.

So if you still think your customers and prospects can’t be reached using this massive social beast, think again. Facebook’s pay-per-click marketing system is one of the most highly targeted advertising platforms in the world. You might want to check it out.

On a related note: something to keep an eye on is Facebook credits. Right now they are used to make purchases in facebook games or apps that run on facebook. In the future, it’s possible they will be used for all sorts of transactions online and who knows…maybe offline too.

2. Groupon

Groupon brought us social shopping or social deals in a big, big way. The interesting thing about the site in my opinion is that it’s taken a really old concept, that of offering coupons, to a new level and new heights by requiring people to share the coupons with their friends socially. It’s working brilliantly and rumor has it that Groupon has an IPO in the works for $15 billion. (Yes, that deserves a source and I have so many tabs open right now that I completely lost it..)

Keys to Groupon’s success include: social sharing of coupons, local focus, heavy discounts, massive traffic volume. Advertisers sell their wares at huge discounts on Groupon and in return they get a massive influx of new customers. They key to making this work is to make sure you have a way of encouraging repeat orders from those who redeem their coupons. Otherwise you’re sacrificing gross for net. I’m guessing social media strategists will soon ad some form of Groupon marketing to their services lists soon if they haven’t begun to do so already.

3. Twitter

Still hot. The question of “is it worth my time?” still lingers. At least for people who place a value on their time. Most do not.

4. Social Games

Huge…has been for some time. Not on most people’s radar yet as unless you’re a gaming company or a gamer, the impact or potential use or benefit to most businesses is hard to see. If you don’t know who or what Zynga is by now, you need to be taken out back and shot. No excuses.

5. Apps & Mobile

It’s hardly worth mentioning one without the other. In a single word: Massive. A post on Wired recently suggested that app use is outgrowing our use of the web. All things iPad and iPhone are kicking but right now. Apparently the Mobile App market is going to be worth $25 Billion by 2015 and is on track to have a 29.6% growth rate over that time period.

Honorable mention:

Quora. Trending upwards. Check it out.

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