Insights from Hong Kong

Posts Tagged ‘Facebook’

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Now Advertising on Facebook

In Hong Kong, Social Media on 13 May 2013 at 9:56 AM

Facebook

Last week we introduced a Facebook page for Kreab Gavin Anderson Greater China. It’s a great space to bring together research papers, media articles on timely issues, photos of staff and more. We want staff and clients and prospective employees and potential clients to get to know our business better. Our aim is to share updates 2-3 times per business day.

To boost interest I alerted all our employees. I also invited some of my friends to “Like” the page. And then I tried a Facebook promotion.

Facebook allows you to promote the page, or individual posts. If you promote a post then it appears at the top of your friends’ news feed page, as well as those who have “liked” the page in the past. If you promote the page then you can have it appear on the right hand column of people you targeted. Given our business we selected people who reside in Hong Kong, are between the ages of 25 to 55 and who have expressed an interest int he subjects Business and/or Public Relations. Apparently there are 130,000 such people. This campaign is charged at a daily rate, not to exceed US$10 per day.

Within one week, we’ve gone from a freshly launched page to having 142 likes. For a small business, that sounds rather heady. I promoted one post for our client and that had an overall promotion budget of US$5.  With $0.29 cents left in that campaign 5,424 people saw the post.

Reviewing the people who “like” Kreab Gavin Anderson is an odd assignment. There are plenty from Hong Kong. But there are also people from Indonesia, America, Australia and more. It’s hard for a geographically constrained small business to evaluate the effectiveness.

And of course there are concerns about “click factories” or businesses that are paid to promote online content. In one extreme it’s hilarious (see the video at the end of the post). In others its disconcerting to see if the people who click “Like” are real or not.

In “Social Media Today” author Pam Moore contributed an article titled ‘Does This Facebook Business Page Have Fake Fans? How to Find Out’ the rapid addition of thousands of fans should raise eyebrows:

“However, unfortunately there seems to be a new wave of cheaters, influence score addicted self-proclaimed “gurus” that are willing to risk their reputation, integrity, ethics, trust, clients and relationships for a few hundred or tens of thousands fake Facebook fans.”

In her article Pam then explains how to dive behind the number of “Likes” to determine if your favourite brand purchased their fans or really connected with them. Following her analysis it seems as though our 142 “Likes” are genuine. We aimed at people who expressed an interest in our business category. We’re adding content that’s relevant and timely. And while it may take us time to build a large community, it seems we’ve taken the right steps.

That’s reassuring, especially when some resort to chicanery (or comedy) as in this video:

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Don’t Panic & Carry a Towel: Stock Markets Down, IPOs Shelved, Economies Uncertain

In Economics on 31 May 2012 at 10:04 AM

Markets hate uncertainty. And from Europe to China, there’s plenty on offer.

  • Just six months ago analysts were loath to mention the possibility of any member exiting the European Union. Now newspapers detail potential exit plans for Greece, and how politicians and central bankers would manage a return to Drachma over a three-day weekend. Shares in banknote printer De La Rue have appreciated as it is expected they would receive the printing contract for drachma. 
     
  • Spain is the latest country in the headlights. Its levels of bad debt and unemployment are equivalent in percentage terms to Greece. The problem is the country’s economy is much, much larger. If Greece was a stone thrown in the pond – and the uncertainty we feel are the ripples – then Spain is a boulder. 
     
  • Even two weeks ago Facebook listed at valuations above preliminary estimates. Today The Wall Street Journal discloses how options trading is taking off predicting a steep decline in the stock’s value. 
     
  • Mid-way through a global roadshow, high-end jeweler Graff Diamonds withdrew its IPO (Initial Public Offering). Graff failed to attract retail investors. The Hong Kong Standard said that, as of yesterday, less than 1% of the shares available to retail investors had been taken. 
     
  • China’s government hasn’t ruled out stimulus measures to keep the economy from faltering. They are loosening fiscal and monetary policy settings but steering clear of making any general pronouncements on stimulus measures. According to The Melbourne Age the concern is the announcement of such actions will further undermine the global economy – and risk China’s overall economy. Pundits say China is overly reliant on government spending. 
     
  • The Australian dollar hit a six month low. Many invest in the currency as a proxy for natural resources. From iron ore to coal to copper, Australia is one of the world’s largest exporters. Instead of buying shares in BHP Billiton or commodity contracts in specific minerals, the Australian dollar tracks the overall sector. In a strong economy that dollar appreciates and it falls amid uncertainty. 
It is wholly appropriate that all these global gyrations occur in the immediate aftermath of Towel Day. 

“Don’t panic and carry a towel.” Douglas Adams

These “Don’t Panic” and “Carry a Towel” recommendations are provided early in The Hitchhiker’s Guide to the Galaxy – a best-selling and ingenious fiction series by Douglas Adams. Every year fans commemorate these words of wisdom and carry a towel on May 25th – last Friday.

Arthur C. Clarke, the author of 2001: A Space Odyssey, said Douglas Adams’ use of “Don’t panic” was perhaps the best advice that could be given to humanity.

Should you be needing a little comfort, I recommend you dial back your computer’s calendar a week and come into work tomorrow with a towel. It should obviate panic. Otherwise you have 359 days to wait for Towel Day 2013.

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Social Media, Facebook & China: Insightful essay from ‘The New Yorker’

In China, Social Media on 22 May 2012 at 10:44 AM

To those who read my blog, you know how frequently I write about social media in China. I was forwarded this article from a colleague in Beijing. It discusses the “me too” nature of China’s social media platforms, and the lack of innovation that will lead to longer term economic problems. (Read more here.)

“The larger problem is existential: The nation that so often reminds the world that it invented printing, paper, gunpowder, and the compass is exceedingly uncomfortable about how far back it has to reach to name its world-beating inventions.”  (Evan Osnos for The New Yorker)

The article is written by Evan Osnos, who is based in China and has been a full-time writer for The New Yorker since 2008. Brilliant writing, Evan!

I heartily recommend you read it – very insightful, and of course, well written!

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In Beijing, Facebook on the Radio – Not My Phone

In China, Social Media on 18 May 2012 at 10:31 AM

I am in Beijing on business and find it difficult to access my social media favourites. Twitter is erratic. Facebook is not available. Some say it’s the wireless access at the Fairmont Hotel. Others say it’s the Great Firewall of China.

Yet here I am in traffic on my way to Kreab Gavin Anderson’s offices in China World Towers. The top of the hour news is that Facebook has priced its IPO (initial public offering) shares at US$38 each. Commentators are saying it’s over-valued. There are likely to be investors from China.

Yet here on the street, few can access Facebook. Those that do use VPN (Virtual Private Networks) available privately for a small fee or in many offices.

China is renowned for blocking access for most citizens to global social media sites. In their place local equivalents have gained traction. There’s no Twitter but Weibo reigns supreme. You can’t get YouTube but you can get Youku. Across the spectrum of social media sites there’s a Chinese equivalent.

For Facebook investors, the premium paid today is done in anticipation of an increase tomorrow. Right now the revenue forecast by Facebook for Greater China is US$0.00. That’s the total estiamte of potential earnings for a nation of 1.2 billion people – most of whome are electronically connected and mad for social media.

For some the investment in Facebook today is a worthwhile bet on the day China opens to outside sites. The citizenry is wired. They already have strong social media habits. There’s an immense amount of time spent daily on similar sites. And of course the IPO has raised awareness. It was the lead story on the local radio station in the taxi today.

Facebook isn’t available “on the streets” in China today. The day it is, expect a tsunami of take-up. That may make the US$38 per share seem relatively affordable.

Until then, I’ll wait to udpate my status until I return to Hong Kong.

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