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Monitoring & Analyzing Social Media

With over 1.5 billion conversations stored, can you afford not to listen?

Category: Risk Management

Apr 13, 2009 2 Comments

Why Banks Need Social Media Monitoring

Really anyone with an online presence needs to be monitoring the social media channels. And banks have marketing departments that are promoting their online offerings, so it only stands to reason…

This article, Bank Regulators Should Encourage the Use of Social Media as a Risk Management Tool outlines how the banking environment needs to participate in social networks online.

Jesse Torres’ quote underlines why financial institutions should be listening to the conversations online of their customers:

“Today, disgruntled consumers take their case to the Internet through social media tools in an effort to gain support. Causes that are successful can severely damage a bank’s reputation, affecting the company’s bottom line.”

Take that a step further and listen to the conversations of their competitors to get a step ahead!

Jesse Torres also has a free ebook which is very good. He recommends integrating the social media efforts with existing marketing strategies. And, he highlights the importance of having a community manager for interacting directly with the online community. His ebook is a good read no matter your business niche.

The Community Banker’s Guide to Social Network Marketing is available as a free download at http://www.tinyurl.com/cbgsnm.

Feb 3, 2009 0 Comments

Social media is the new marketing nexus

Joe Marchese of socialvibe has a great Mediapost column on why social media agencies will become the new Agencies of Record for brands.

I take his prediction a bit further in my comment to his post:

Social is becoming the central hub that connects marketing, customer support, product development and reputation management. This is a primary change in the way companies interconnect with markets and customers and the new agency of record has to be prepared to wade into all of these business divisions and unite them. My guess is we’re going to see an entirely new agency model emerge that is not hampered by the silos you describe. Among our customers we’re seeing the early adoption and growing understanding of this new nexus- and interestingly most are either PR or ‘digital’ agencies. Very little uptake with the media-focused agencies so far. As with PPC/SEM/SEO adoption, they tend to lag a bit in adopting new models. This time around lagging could prove disastrous because the move into social media is happening very quickly

Jan 28, 2009 0 Comments

Comparing the SM2 Freemium Account and SM2’s paid Professional Accounts

As part of Techrigy’s outreach to the growing social media marketing community we offer a Freemium (free) version of SM2, our best in class social media monitoring and analytics solution. SM2 Freemium is a fully functional version of the Pro paid versions of SM2 with several minor differences:

  • Keywords are limited to five keyword phrases. Pro Accounts have unlimited keywords. Both accounts have unlimited search Profiles.
  • The number of Results (conversations) you can have in your SM2 Freemium Account is limited to 1000 while the Pro Accounts start at 20,000 results. With both types of accounts results can be cleared and new searches run.
  • Freemium Accounts do not support Advanced Boolean search operators. They do support the use of the AND operator and excludes.
  • Freemium Accounts do not have some of the board and review site sources included in the Pro Accounts.

We designed the Freemium SM2 version to provide robust search and analysis capabilities nearly identical to our paid versions. They carry no expiration date and there are no limits on users. Freemium accounts are an excellent way to evaluate SM2 by monitoring small brands and campaigns or for sampling results and analyzing those sample sets.
Freemium users considering an upgrade should contact us for a product demo and a fully featured Pro Test Account at sales@techrigy.com.

Jan 26, 2009 0 Comments

AdAge: Survey says few CMOs think they’re effectively tracking social media

This article should be viewed an indicator of an approaching tipping point in social media monitoring and marketing:

“The survey of 400 executives found that 56% said their companies have no programs to track or propagate positive word-of-mouth; 59% don’t compensate any employees based on improvements in customer loyalty or satisfaction; and only 30% rated their companies highly in their ability to handle or resolve customer complaints.”

“One problem for marketing executives is that they’re not clearly in charge now of managing the customer experience, customer loyalty or social media today, given that public-relations, sales, consumer-affairs and research-and-development departments all have a stake in those areas now.

Donovan Neale-May, executive director of the CMO Council, said marketing should take the lead in overseeing the customer experience and satisfaction. And he said addressing deficiencies in tracking and analyzing consumer feedback and buzz may be the key way CMOs can stake a claim to leadership.”

“From our standpoint, if there’s anybody who needs to be accountable for the customer experience, it’s the CMO,” Mr. Neale-May said. “Clearly what marketing needs to do to cover a lot of ground we’ve lost in the organization is more analytics, predictive modeling, and data integration and aggregation.”

That’s exactly what SM2 was designed to do.

(From Advertising Age)

(BTW, AdAge, why do you have a splash page? Don’t you know that it kills traffic by 50%?)

Jan 16, 2009 2 Comments

SlideShare: Techrigy’s CEO Aaron Newman on Social Media Marketing 101

Sm2 Social Media Marketing
View SlideShare presentation or Upload your own.

Jan 12, 2009 0 Comments

US Airforce Flow Chart: Rules of Blogger Engagement

Thanks to StrivePR

Our tax dollars at work and they get it right (and this flow is not for blog engagement only, any user-generated content):

air_force_web_posting_response_assessment

Dec 1, 2008 0 Comments

Accelerate your social activity during a recession

Perhaps the worst thing a business or agency can do during a severe downturn is to pull back on marketing activity, even if writing the checks is exceptionally painful. The reason is something known as the ’sales cycle’. Salespeople know what this is: the average time it takes to close a sale from prospecting to a check in the mailbox. For a lot of products and services this can be quite a long process and it lengthens as money gets tight.

However, as money gets more accessible, sales cycles get shorter because there is pent-up need. This brings us to the marketing quandary. If you stop or curtail marketing activity, you cripple your ability to bounce back when the economy gets better. Your customers don’t stop thinking about buying, they just hold off until they can afford it. If you stop marketing and participating in the conversation you won’t be on their radar when they’re ready. Your sales cycle starts with marketing.

So what does this have to do with social media? Everything. Social media participation is extremely cost effective, especially if you target intent, in other words, those conversations that are fine-tuned to your product or service. Any number of keyword tracking services, including ours, can help you find that intent.

There is another compelling reason to dive headfirst into social media: Timing. We are at that proverbial tipping point where a group of ideas, tools and smart people converge and the world changes. Waiting until the economy turns upwards to embrace social media means you’ll be far behind the curve. We saw it with the belated advertising agency reaction to search marketing. They didn’t embrace this new model and a whole new style of marketing agencies took the business out from under them. This, in my view, is taking place right now with social media.

Are you on the brand-owner side but not successfully selling social media participation to upper management? It’s time to go guerilla. Start monitoring with free services like ours, tracking Twitter keywords, blogging product mentions, etc. Become a power-user and you’ll eventually get your chance to make your case. Chances are that when the realization sets in among those managers that your brand is being discussed, there will be a ‘why aren’t we doing this moment?’ And you can say, ‘actually we have been’.

It’s not just the listening side. Start building knowledge around platforms for social media interaction. Things like Ning, Yammer, WordPress. They’re free and you can learn them quickly. Again, when times get better you’ll have a jump on your competition.

Aug 7, 2008 0 Comments

Is your brand being hijacked in social media?

Exxon Mobil’s was…

Thanks to Andrew from Newsvetter. BTW, if you haven’t checked out Newsvetter you should!

Jul 24, 2008 0 Comments

The Brushfire Effect and Reputation Management

When I was a kid we used to build fires in a nearby wood. One dry summer some sparks from the fire started a brushfire. We ran around stomping out little blazes as they started but they kept popping up in other places. Eventually a neighbor came by with a shovel and we were able to stop our little conflagration. No damage done but things could have turned out very differently.

In social media this reflects something I’m calling the Brushfire Effect. It’s not the Groundswell, instead it is the fact that a small spark can spread extremely fast, possibly turning into a big problem- or opportunity. This brushfire effect is probably the primary reason for diving into social media if you manage brands or reputations.

It’s relatively easy to monitor what people are saying on the high-traffic sites with existing tools. However it’s out there in the long tail of social media that brushfires start and spread until the big guys take notice. And the time you need to be aware of a nascent brushfire is while its still out there in that long tail because that’s where you can address things early on- before they get out of control. You might even be able to change things with shovel instead of a fleet of planes dropping tons of water.

Jul 17, 2008 0 Comments

Reputation Management in Social Media: SlideShare