Eric Karofsky

Posts written by Eric Karofsky

June 12

Facebook Username Alert for Brands

At one minute past midnight tonight EDT, brands (and individual users) can choose Facebook username URLs on a first-come, first-serve basis. Rather than a randomly assigned number, users can select vanity URLs. For example:

www.facebook.com/profile.php?id=123456789
vs
www.facebook.com/name

In short, if you already have a fan page, have over 1000 followers by May 31, and you have a relatively unique brand name, this is not “break your Friday night plans” type of news – but there are actions you can take today.

Why is this relevant?

Part of Facebook’s success is based on authenticity and a perceived trusted environment. This is largely shaped by the fact that most people use their real names and pictures. This paradigm is broken when people refer to URLs that look like code, rather than real names.

Just like brands commonly publicize their web page URL in marketing, a brand may choose to promote their Facebook fan page. Because a custom URL is easier to remember than random numbers, the effectiveness of a promotion can be increased.

Perhaps more interestingly, Facebook user names will be cataloged by search engines, so fan pages will be automatically promoted when a user performs a search. For instance, when doing a search on Google for a brand name, a Facebook fan page will be prominently features in the results, assuming there is one.

What should you do?

Tonight there will be a ‘land grab’ of sorts while people register usernames (most will be individual users claiming their personal names). This will not, however, be the domain name issue of a decade ago.

A few notes that help mitigate the urgency:

  • The Facebook fan page must meet two requirements: it must be live on Facebook prior to the May 31, 2009 cut-off date and have a minimum 1,000 fans as of May 31, 2009.
  • Generic usernames are not being offered at this time… ie you can not register “facebook.com/sneakers”
  • You can only register one user name per Facebook page
  • Usernames are not transferable

Today you should go to this Facebook page to prevent others from registering your trademarked name. If you meet the criteria, you should log in as an administrator after 12:01 a.m. EDT on Saturday, June 13 to create your user name.

If you do not meet the criteria, consumer oriented brands should be actively building fan pages! Because of the search engine twist, this is yet another way to build engagement with your brand.

Where can you find more information?

November 6

“Working the Room” through Social Media

“Working a Room” Through Social Media

Social Media personality, Gary Vaynerchuk, created an excellent video about “giving a presentation versus working a room”.

My summary of the premise:
Old school brands that only use display ads are limiting themselves. Traditional advertising allows only one direction – from the advertiser to the consumer. It’s analogous to giving a presentation and then not allowing for questions, getting in your car and leaving. There is no opportunity for feedback. There is little recognition if your audience understood what you were talking about, and no ability to learn from the audience to further craft your message for the future. (more…)

October 14

Financial Service Companies: Start Communicating!

“The worst financial crisis since the great depression” seems to be the headlines these days. What should financial services companies do? Communicate, communicate, communicate!

Many of the top financial services sites still have no mention, nor even a link, to their thoughts about the crisis. The media is consistently peppering the public about the state of the economy, yet clients are finding that the place that they entrust their money to, is silent!

Hey financial services companies: Clients and investors want to know what YOU think! They want to understand your company’s views of the markets, your investments, and what you think is going to happen. Even if there is no news, or bad news, keep people informed.
Don’t wait for the whitepaper to come out, or the official press release. Start the conversation early. Here are some ways this can be accomplished:

  • Place some content on your home page: optionsXpress has a short paragraph with the title “A Safe Haven” to help bring confidence as clients log in
  • Provide a link that builds confidence: Wells Fargo has a link to a CEO letter saying that they are “staying the course”.
  • Start utilizing your corporate blog:
    • Allow an output for your experts to talk about the market – it allows clients to perceive they have access to the experts
    • Highlight discussions your executives are having with policy makers – it shows that you are in control and helping guide the US and the world
  • Start monitoring twitter: it’s a great way to see how a segment of the market is talking about your brand

Overall, show empathy. People are nervous, frustrated, and annoyed. Being quiet only increases frustration. Start utilizing the tools that you have already invested in, and start communicating with your constituents.

What is your financial services company doing? What should they do to help you feel more informed, or confident?

September 15

…and Now Lehman and Merrill? Is there an opportunity in the Chaos?

Lehman Brothers filing for chapter 11. Merrill Lynch sold. AIG receives a lifeline from the Fed. Washington Mutual having issues. Fannie Mae and Freddie Mac under government control. Bear Sterns sold.

In any radically changing market, opportunities can be found. While bad credit policies and poor oversight are the common blames for the current financial crisis, the Internet will help foster and grow innovation.

Major financial institutions, which previously only focused on the end retail customer, are now broadening their online profile to include the entire buy-side and sell-side supply chains. Spending on increasing communication, building relationships, and creating conviction are common themes.

September 11

The 5 Rules to Create Conviction in Financial Services


Conviction is the confidence necessary to convert a prospective client into an actual client, and the critical assurance to keep clients from defecting. Personal relationships between asset managers and prospects (from institutional gatekeepers to broker/dealer producers) are the main conduit to creating this conviction.

Without this perceived relationship, prospects cannot “bet” on the portfolio manager. But personal relationships can’t scale. With over 650,000 registered securities representatives in the US alone, asset managers need additional tools.

How are companies augmenting relationships and creating conviction in financial services? The internet is assisting by providing content and managing perceptions. The following rules are being followed: (more…)

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