Google is forging ahead in the social side of the web with Google+ and Google+ Your World or social search. Facebook, on the other hand, is headed in the reverse direction. With 336 million search queries in February, according to ComScore, Facebook is far behind Google in search. In fact it is trailing all of the “big five” search engines; Google, Bing, Yahoo, Ask, and AOL.

Rumors surrounding the future of Facebook search promise a bright future. Reportedly, a former Google engineer (Lars Rasmussen) is leading a team of two dozen Facebook engineers dedicated to creating an improved Facebook search engine. Perhaps you noticed one small change on Facebook recently. The search box which once simply said, “Search,” now beckons, “Search for People, Places, and Things.

Facebook currently allows users to filter searches by people, pages, places, groups, apps, events, music, web results, posts by friends, public posts, and posts in groups. Facebook’s natural social strengths may give it an advantage over Google+ and social search.

It’s expected that we’ll be seeing better sifting of Facebook content soon. From status updates and articles to videos and other “liked” content from around the web, Facebook will soon deliver more relevant search results. Perhaps this means that searching for someone like me with a last name as common as Fletcher will soon be easier. You might be able to query “Fletcher” or “marketing experts” and be presented with results of people and pages nearby. Maybe pages with the most likes will be weighted heavier.

Instead of crawling and ranking the whole web, as Google does, Facebook already knows what its users find interesting and likable. Improving search may make it easier to find the best articles, recipes, and promotions. (On the downside, users see and rate mostly new material and obscure content may get left behind.)

What could this mean for ads? The search advertising market is a $15-$19 billion industry. Quality search results mean Facebook may be better poised to sell relevant keyword ads alongside search results. Will Microsoft’s Bing prove to be a threat? The engine has been personalizing search results based on your friends likes since 2010 and are currently third in quantity of search queries.

Who will come out ahead in the race for search? Only time will tell. What do you think about Google’s social search or Facebook search? Please give your two cents in the comments below.

Credit: BigStockPhoto.com

When it comes promoting your business, very little beats positive word of mouth. But there are different ways word can spread about your business. Sometimes this promotion is a form of advocacy and it happens organically. And sometimes it’s a result of financial incentive.

Let’s look at two common groups of people who might spread the word about your business — affiliates and brand advocates.

What are Affiliates?

Affiliates are people (or companies) who spread the word about your products or services because they’re paid to do so. They might write reviews or simply add links to their own sites or social media profiles. Clicks on these affiliate links (which are unique to each affiliate) can be tracked. So can sales made after clicking an affiliate’s links. How affiliates are paid can vary depending on the affiliate program. Sometimes they’re paid per click or lead (like a request for a free trial). Other times they’re paid only after a sale is made.

What are Brand Advocates?

Brand advocates are also likely to spread the word about your business, saying positive things about it. But these brand advocates are not paid. They’re just fans of your company because they love what you sell, they like something you’ve said or done, or they’ve had good customer service experiences with you.

Achieving word of mouth through either affiliates or brand advocates can be beneficial to your business, but in different ways. Let’s look at the benefits of each.

Benefits of Affiliates

• 

  Money talks. But should it? - Credit: BigStockPhoto.com

  Affiliates will sometimes promote your business more aggressively or more frequently than your basic happy customers because they have a financial motivation to do so.

• Because you assign affiliate links to each affiliate, you can direct those links to any landing page you want (such as a sales page or sign-up form). With brand advocates, where they link is in their hands.
• You might have an easier time tracking affiliate links and visitor behavior after clicking them. That gives you a great opportunity to evaluate your existing landing page copy, run split tests, or otherwise improve your overall marketing strategy.

Benefits of Brand Advocates

• Unlike affiliates, you don’t have to directly compensate brand advocates.
• You don’t have to monitor whether or not brand advocates are disclosing relationships with you (as per FTC rules in the U.S.) because there is no financial incentive given.
• Brand advocates let you know what your company is doing really well. You can rest assured the feedback is honest (which is somewhat more questionable in affiliate reviews). Knowing what you’re doing right is as important as knowing what customers think you’re doing wrong.

As you can see, there are benefits to both affiliates and brand advocates. There’s nothing inherently wrong with either group, as long as affiliates act in an ethical manner. But while affiliate programs might not be effective or even feasible for every business, any company can build better relationships with customers to encourage brand advocacy. You just have to provide what you promise, stand by what you’re selling, and show customers that you genuinely care.

Share your stories about your favorite word of mouth for your business. Have customers ever surprised you with their support? Do you use social media to build those customer relationships? Do you run your own affiliate program? Share your thoughts in the comments below.

Ebooks are everywhere, and it seems everyone is reading them. What’s going on with books today? The “Ebook Revolution” is upon us, and it has changed the publishing game for good.

Gutenberg press. (Wikimedia Commons)

Ever since Gutenberg invented the printing press around 1440, publishers have controlled the book industry. People who owned presses did more than just print. They decided whose book they would publish, how many copies they would produce, where and how to market the book. And they took the lion’s share of the profit for doing so.

This was the business model for book publishing for the last 570 years.

The Self-Publishing Alternative

There was one way to end-run the publisher-controlled marketplace: self-publishing. There have always been individuals willing to pay a printer, or sometimes an actual publisher, to print their work. Only a small percentage of these authors, though, have seen commercial success.

Usually, self-publishing was laughed at by publishers as the last refuge of those desperate to get something into print. Real publishers wouldn’t touch their work: either the market wasn’t large enough to profit from, or the writing quality was so low that it was clear sales would be mediocre at best.

And then electronic book readers happened.

Ereaders

The microcomputer era took off in the late 1970s, and the IBM Personal Computer, or PC, gave us our near-universal name for a desktop computer in 1981. For decades before that, people read documents in

IBM PC (Credit: Boffy b, Wikimedia Commons)

electronic form.  But the digital documents of yesteryear were stored on mainframes or minicomputers, locked into a workplace environment. Need to read away from your desk or terminal? That’s what printers were for.

As PCs spread, though, people began to ask that question more insistently: how can we read electronic documents wherever we want? Business people used PDAs (Personal Data Assistants) like the Palm, and laptops were becoming commonplace.  But none worked well for reading entire books.

Palm Pilot 5000 PDA (Wikimedia Commons)

As the mid-1990s rolled around, reading devices designed for ebooks began to hit the market. Early offerings like the Softbook and the Rocket eBook Reader didn’t have much impact. Then “e ink”, invented in 1997, became incorporated into more and more devices. This “electronic paper” solved the eyestrain problem of ereaders, creating displays that look like ink on a printed page.  Ereaders became practical, but were still curiosities.

Then Amazon introduced the Kindle in November 2007.

The Ebook Goldrush

By that time, there was so much content in digital format, and so much demand for it, and Amazon had so much market clout as the #1 online bookstore, that people bought the Kindle in droves.

Other companies raced to catch up. Barnes and Noble, who shut down their ebook store in 2003 for lack of business, introduced the Nook in 2009. And then, around the end of the Oughts, the real tipping point hit.

Authors started writing for the ebook market, with increasing numbers skipping traditional publishing houses entirely. Self-publishing had arrived.  Readers bought ebooks like crazy; they didn’t care where the book came from, they cared about the content. The  ebook boom has been escalating ever since.

Writers can now sell directly to their market, no matter how obscure their topic.  Readers can easily grab books cheap and often free, loading up on tons of reading they can slip into a purse or pocket and take wherever they go.

In May 2011, Amazon reported they now sell more ebooks than print books, and ebook sales have tripled in the book marketplace over the last year.  As this trend grows, where does it leave traditional publishers? No one knows for sure. The one thing that is certain is that the gatekeepers no longer control the gate, and publishing is changing forever.

The first Amazon Kindle model, 2007 (Wikimedia Commons)

Credit: Fotolia.com

How many social media profiles do you have? How do they rank in the search engines compared to your own website or blog? With the growth of Google Plus, lately I’ve noticed several people claiming that their G+ profiles outrank their own sites which ranked well for years. It wouldn’t make sense. Your brand new profile isn’t likely more relevant than a personal or business website that’s been around for a long time.

In the case of G+ profiles the issue largely seemed to happen when they were logged in. In other words, it was a part of Google’s attempt to customize search results for you on a more individual basis. But that’s not to say your general site rankings aren’t at risk, from anything from your Twitter feed to your Facebook page.

Why Does it Matter if Your Profiles Outrank Your Website?

You might assume it doesn’t matter which ranks higher. After all, they’re all tied to you and your larger business or personal brand anyway. And there is indeed a chance that it won’t matter for some people. But it can matter a lot to others. Here’s why:

• In many cases social media profiles are meant to be supplements to an existing brand image — not primary public outlets.
• If you’re trying to sell something, you want your business website or sales page ranking as highly as possible to drive targeted search traffic to product or order pages.
• If you make money via ad revenue you want to maximize search traffic to your own site rather than social media profiles. Having that site outranked can negatively impact that traffic source and therefore your ad revenue.

If one of these things applies to you, let’s talk about what you might do to fix the situation.

How to Maintain Your Website Rankings

Assuming you want to keep your website’s top rankings (or earn them back) when compared to your social media profiles, here are a few things you can try:

Don't neglect the rest of the SEO process just because you use social media. - Credit: Fotolia.com

• Don’t neglect your site’s search engine optimization. It’s easy to get caught up in spending too much time on social media sites. But if all of your time goes to them, it’s no wonder they might outrank your home base. Keep a focus on keyword research, on-site optimization, content creation, and link building.
• Use your social profiles to build links and drive traffic to your primary website. Social media marketing can be an effective way to increase your site’s rankings and by directing friends and followers to the same central hub, you make it clear which site the emphasis should be on. If nothing else you’ll drive more traffic — more people who might spread the word by linking to your website.
• Keep creating linkable content. Don’t leave all of your best insights to social media posts. While it’s important to share interesting things on those profiles, it’s equally important to do so on your own site if you want to maintain interest and rankings. Give people a reason to come back. And give them a reason to link to you. Continual link building is one of the best things you can do to maintain or earn back your site’s rankings.

If you see one or more of your social media profiles dominating search results, it’s not necessarily a bad thing. Those profiles can be pathways to your main site. But sometimes it makes more sense to keep your primary site higher in the rankings. And to start doing that you need to know where each site currently stands.

Run a search or two right now. How do your websites compare to your social media accounts? Does it matter which ranks higher? Why or why not? If you’re worried about social profiles outranking your own site, what do you plan to do about it? Share your thoughts in the comments below.

According to Social Media Today, “Pinterest is generating more referral traffic to websites/blogs than YouTube, Google +, and LinkedIn combined.” That in itself sounds like good reason to learn how to use the site as a marketing tool. I’m having fun getting started. Pinterest is definitely the social media site to watch in 2012.

What is Pinterest?

Pinterest is a visual bookmarking site. Each pin on the virtual pinboard or corkboard links to an external website. People share, discover, and comment on others Pinterests. You can create boards based on a theme or topic. For me that might be social media news, cooking, and non-fiction books. Followers can choose just to follow my marketing or social media pins without having to get updates on my workout plans, for example. When marketers pin things that their customers would be interested in, they can drive traffic. You can also allow others to pin onto your board.

But it’s more than that. Like any social media tool, like attending a party, you can’t just walk out there and start talking about how great you are. To make Pinterest work for you, for your business, you need to build a following, know your customers, find out what they’re interested in and have a strategic plan. Just like at a party, spend some time observing. Find out who you know, who you’d like to know, what’s being talked about. Put in your time listening and slowly build your following. The content should start at a slow pace, until you get the rhythm of the network.

Driving Traffic to your Website or Blog

Big brands have already been using Pinterest. You’ll find Land’s End and Etsy have tens of thousands of followers. The site is heavily skewed to the female demographic at present, but this is expected to level out. There are nearly 500 million users and the site is growing fast. Users are averaging about 15 minutes each visit.

Make it easy for Pinterest users to pin by including a graphic with every blog or article you write. You can get badges from Pinterest to add to your site. Creating a catchy graphic, encourage your visitors to pin their favorite things. Pin images of your own products on pinboards. Use infographics to showcase less visually-oriented services or ideas. Try Linky. The widget used in your blog collects links from your readers. Follow Land’s End’s lead. There “Pin It to Win It” contest generated a huge amount of interest. Fans pinned products they liked and Land’s End got exposure on boards all over the site.

Using Pinterest for Market Research

You can see where pins came from on a specific web domain. What a great way to discover what people are pinning from your website. Simply go to http://pinterest.com/source/”yourdomain.com” to see what visitors to your website find relevant and interesting.

Remember that perception is reality. Whatever your customers say your brand is, that is what your brand is. Look at the name of the boards you’re pinned to. Is it Products I Love? Home Décor? I Want? How many followers is there on any boards your site is pinned to? You’ll also want to pay attention to the influencers. When you identify influencers, you can increase sales.

Are you on Pinterest? Let us know what you’re doing in the comments.

Credit: BigStockPhoto.com

Each month we share some of the biggest social media stories from recent weeks (or at least our favorites or those that most grabbed our attention). In the last month, we’ve had multiple stories coming out of Google, big news about Facebook, and a lot of buzz around Pinterest.

Check out the source links below to find out more about these stories, and feel free to share your thoughts on any that caught your interest.

1. Facebook Files for IPO

Facebook finally filed with the SEC for its initial public offering on February 1st. The IPO is expected to raise $5 billion for the company.

[source]

2. Google Updates Its Privacy Policy

Google has numerous services under its belt, accounting for 70 different privacy policies for users. As of March 1st, they’ll have one (or at least close to it, as a few services are exempt from the new main privacy policy).

The gist is that Google wants to collect all of your data from your use of all of their different services and use it to customize your user experience. But there isn’t an opt-out option if you don’t want this data collected and shared between services, and that’s bringing about some criticism.

How do you feel about a more customized Internet? Do you want Google telling you what you should be interested in at any given time, or do you wish you could opt out of this data sharing?

[source]

3. Google Launches Public Alerts, Tied to Google Maps

Credit: Google Public Alerts

Have you ever looked up your local weather online and gotten emergency alerts? You’ve probably seen them running across the bottom of your television screen or heard them on the radio too. Now you’ll get these same kinds of public alerts incorporated into Google Maps. Google can show you things from flood and tornado warnings to earthquake data.

[source]

4. Twitter Advertising to Become More Accessible to Small Businesses

It looks like Twitter’s finally ready to take a cut of the small business promotions happening on the network. While Twitter ads have mostly been purchased by large brands, now smaller businesses will be able to take advantage of promoted tweets and promoted accounts more easily. They’re partnering with American Express to give $100 in free advertising to 10,000 eligible small business Amex cardholders and merchants.

[source]

5. Bing — Out of Beta in Germany with 20% Market Share

The Bing search engine has come out of beta in Germany. Microsoft reports that they have 10 million users which would be 20% of Germany’s active internet users. Others claim that 20% figure is greatly exaggerated.

[source]

6. Pinterest Offers New Protection for Content Creators

Pinterest — a social Web-based pin board — has been making waves this months. You can barely browse another social network or your favorite blogs without being bombarded with rave reviews and tutorials based around the service.

But Pinterest has others concerned — namely content creators. That’s because it’s easy for original sources to be lost as items are pinned and re-pinned by the site’s users, and because many users are posting images illegally (and against the site’s own terms of service). As a content creator, I find sites like Pinterest very concerning. I’m all for sharing within reason. But the site was enabling rampant copyright violations without much effort to prevent them (why you’ll see Google cited as the source for so many images — people just rip them off of Google Images)

I was glad to hear that Pinterest just launched a proactive tool for content creators. It allows those copyright holders and other site owners to prevent the pinning of their content through Pinterest’s bookmarklet (although users can still download and re-upload the content). This is a good thing for photographers and designers whose work is cheapened by free unauthorized distribution, especially when it happens without proper attribution.

Pinterest is also limiting descriptions to 500 characters now to prevent the blatant copying of others’ text — from blog posts to recipes. If nothing else, it should mean more traffic gets sent back to the original source.

[source]

Share your thoughts on these or any other recent search industry or social media news stories in the comments below.

Credit: BigStockPhoto.com

When Google+ first launched, I had high hopes for it. They got a lot of things right. And then came their real name policy. As someone who both uses pseudonyms in business and as someone who’s dealt with an online stalker, I was appalled by comments of Eric Schmidt. The gist? Use your legal name or you’re not welcome there. That meant anyone from authors to abuse victims who want to protect their identities were essentially told they weren’t wanted.

I’m happy that things have finally changed for the better (mostly). Then again, they didn’t change so much as go full circle. (If you recall Google VP, Vic Gundotra’s,  comments from last summer you’ll notice the new policy is very similar.)

What Changed?

After Eric Schmidt opened his mouth to alienate large groups of potential users, we were told to stick to legal names. And if you didn’t, you might be reported and have to prove your identity with formal ID and other such nonsense. If you couldn’t, you could lose your account.

Now, based on these comments from folks at Google, some changes have been made. Some of those changes are as follows:

1. Pseudonyms are now acceptable if they’re in standard name format.
2. If you have multiple identities (like an author who writes under multiple pen names in different genres), you can set up a separate account for each one instead of using the nickname feature.
3. Some handle-based names will be approved, assuming the user has a “meaningful following” under that handle.

Why This is a Good Thing

For the most part, these changes are great. Here’s why:

1. An abuse or stalking victim can choose another name to stay connected with their friends and family without exposing themselves to their abusers.
2. Professionals who use one name in business and another in their personal life can now keep those identities separate.
3. Authors, musicians, actors, and others who use pseudonyms for creative endeavors can do so without associating their accounts with their legal names (which they may prefer to keep private).
4. If you’ve spent years building an online identity under a handle (and no one would even recognize you by your real name anyway), you might be able to get approved for a G+ account without having to rely on G+ Pages for businesses.

What Still Needs to Change

While this is a huge step in the right direction, I’m concerned about the last change I mentioned previously. It’s that phrase “meaningful following” that rubs me the wrong way. Why? Because it implies a certain level of celebrity constitutes preferential treatment. That’s not to say you have to be a megastar to get your handle approved. I just don’t feel that Google staff has any right to determine how much recognition is “meaningful.”

I’d rather see an all or nothing stance on the issue of handles. While I understand their intent, this just feels wrong. And that’s probably a result of my history working with creative professionals like musicians and authors (including as their social media consultant). The policy seems to give preference to those who have established identities while young artists setting out to make a name for themselves will be treated differently.

Social media should be a part of their platform, a way to help build that name recognition. Services like Google+ should embrace these individuals rather than potentially exclude them. And Google shouldn’t be the one to determine whether someone’s identity can or should be formatted as a two-name identity or a mononym.

Their stance on name formats seems to be a result of cultural issues (and you can read more about that in the comments of the second link above). I will say this at least. Google reps finally seem open to dialog and making changes based on community feedback. And for a company that’s failed repeatedly in social media, I consider that a sign they’re finally starting to “get it.”

What are your thoughts on Google’s real name policy changes? Are you happy? Upset? Would you like to see more changes or clarification on anything? Feel free to share your thoughts in the comments below.

Is there a better way to do social search? - Credit: BigStockPhoto.com

You’ve probably heard the news already. Google is making search more social with their new Search Plus Your World. Basically, results from or recommended by people in your social network (meaning Google+) are given high placement in rankings when you search.

You might have also heard the biggest criticism of this new search feature — that it’s anticompetitive. (Or at least that’s what Google’s big social media competitors have said.) While I understand that concern, I have bigger ones. I worry about how Search Plus Your World will affect the actual users of Google’s search engine. And I immediately found two glaring problems.

Search Becomes Redundant

The first thing I noticed after the introduction of Search Plus Your World is that my results were repetitive. I already knew so-and-so wrote about subject X and recommended Y. I saw that in their social media updates.

In and of itself, that doesn’t make the content more relevant. I’m using a search engine to find something new or specific. If I want to see what my friends recommend, I’ll check out their +1s, likes, or I’ll ask them on Twitter. Search engine users shouldn’t have to be bombarded with the same material they’ve already found elsewhere.

Google Gets Gamed (…Again)

As a Web publisher I’ve watched Google go after people they see as gaming the rankings system for years. Now it appears they’re handing these heavy promoters better rankings on a silver platter. That’s another trend I noticed quickly — people who are blatant self-promoters ranked high while more trusted sources (like closer colleagues and friends) didn’t appear in my results nearly as much.

Why did this happen? Because these folks are the link whore types who will link to, “recommend,” +1, etc. their own content all day long if they think it’s going to drive more traffic to their sites. These are the old Stumble exchange folks, the “tribes” that blindly link to each others’ content so their own will be promoted too, and the aggressive SEO link builders.

Now don’t get me wrong. These aren’t all bad people. But they do game the system, and the behavior borders on spam at times. I follow some of them because I like what they have to say on their blogs or I have an interest in what they offer elsewhere. That doesn’t mean I should be slammed with their self-promotional nonsense in search results. Keep it isolated to the social networks where I choose to let that through. Wanting to see something on Google+ (or any social network) doesn’t mean we want to see the same people and the same things promoted whenever we search the Web.

On the plus side, Google does let you disable Search Plus Your World (either in your settings or on a case by case basis). The latter option has its own problems though. The options aren’t labeled well, so I doubt the Average Joe searching the Web would even notice. You have to change the results after you search rather than being able to set your options up front. Their highlighting seems almost reversed (when personal results are turned on that button is grayed out — not a big deal, but I can see how it could get confusing).

Then there’s the worst part. You have to change this setting every time you use Google (whether it’s a separate visit or you just open another browser tab). The exception is if you run a new search in the same window where you already changed the settings.

I don’t know about you, but I’m not thrilled with Google’s aggressive tinkering with the default style of search results. If you want your search engine to work as a search engine (rather than a promotional tool for Google+), you need to login and change that in your search settings. I’m sure most readers of this blog are savvy enough to do that. My concern is more about an average user who doesn’t even notice the changes yet (given that the new settings and the ability to change them back aren’t clearly disclosed on results pages).

What are your thoughts on Search Plus Your World? Have you seen the same kind of redundancy I’ve come across? Have you also had issues with bloggers and other heavy promoters ranking better than more trusted people in your network? Share your thoughts in the comments below.

Credit: BigStockPhoto.com

It’s another new month (a new year actually!), so it’s time to share some recent search and social media stories with you. This month we have our usual players in Google and Facebook. And we have a few updates from other social media sites as well — from SOPA protests to design changes.

Here are some of the stories that got our attention over the last few weeks.

1. Google+ Pages See Changes

One of the biggest problems with the launch of Google+ Pages was the fact that only the page owner was allowed to serve as an administrator. In other words, if you hired a marketing firm to set up your page, only one of you could update it. Or if you let an employee set up your page and they left the company, you could be left with no access to your own page.

Google listened to feedback on the issue, and they’re finally fixing things. You can now assign administrator privileges to up to 50 people. Is it perfect? Not really. Ideally I’d like to see at least two levels of administrators — those who can fully administer the account (settings, basic profile info, etc.) and those who can only share updates. How about you?

[source]

2. More Social Media Facelifts

In our last update we told you about the next “New Twitter” with that site’s design changes. Now more social media companies are joining in and updating their look. This month it’s everybody’s favorite social video darling YouTube and a new look for StumbleUpon.

YouTube 

StumbleUpon

[source]

3. Reddit to Stage a SOPA Blackout

Reddit has announced plans to blackout their service on January 18th from 8 a.m. to 8 p.m. to protest SOPA (the Stop Online Piracy Act). Instead of your usual content, you’ll find a message about SOPA on the site during that time. How do you feel about these kinds of blackouts? Will it annoy you as a user, or do you appreciate their stance and attempt to educate more visitors? Who would you like to see join the blackout? Do you think it will be effective in any way?

[source]

4. Facebook Introduces Paid Ads to News Feeds

Facebook is rolling out featured ads when you view news feeds through the service. In an attempt to keep the ads relevant to you as a user, you should only see ads from friends or pages you’ve “liked.”

[source]

5. Google Takes New Steps Towards Social Search

Google unveiled its new Search plus Your World effort to make search more social. You can choose to search as usual or see more personalized results including things people have shared with you on G+.

I’m already noticing a big problem with the personal results. If you happen to follow just friends and family, that’s fine. But if you follow bloggers and or businesses who aggressively market (read “whore out”) their sites by recommending their own posts and sites constantly, they’re featured prominently in results. Score one for the more sleazy marketers.

Just because I follow someone on a social network and they happen to constantly “share” their own stuff, it doesn’t mean their results are more relevant when I search for something. This seems like a natural flaw with social search though, and a limitation that means I’ll personally be sticking with usual Web searches for now.

[source]

Share your thoughts on these or any other recent search industry or social media news stories in the comments below.

Credit: Fotolia.com

Social media helps you stay in touch with friends and family. You can use social media tools to stay on top of news and updates from your favorite companies or celebrities. You can use social media to promote your business and connect with customers. But did you know social media can also help you save money?

Let’s look at three things social media offers that can help you do that.

Company Social Media Offers

Some businesses offer special deals to their social media followers. If you follow their account or page or update stream, you might get special coupons or offers not made available to other customers. Or a company might give you advance notice of an upcoming sale, giving you a chance to get what you want for a great price before they run out.

Social Couponing

Daily deals sites like Groupon and LivingSocial help you save money by offering deep discounts from local businesses. These deals spread within social networks. Basically, you save because you’re a part of a large social group. Appealing to local masses is what drives the discounts, and you can find these deals in your email, on social media sites, or referred by friends.

Word of Mouth / Reviews

Negative social media reviews are just as important as viral deals when it comes to saving money. - Credit: Fotolia.com

Along the lines of group couponing we have the general viral nature of social media. Great deals spread via word of mouth (maybe you hear about a sale on a friend’s Facebook page or someone you follow on Twitter tweets a link to a discount code).

Word of mouth can save you money in another important way too. You can hear about bad deals or lousy products that you shouldn’t spend money on. For example, maybe the newest hot gadget is really glitchy and people are complaining on social media sites.

Saving money isn’t just about spending less on things you want to buy. It’s also about not wasting money when a product or service isn’t worth it. Social media tools and websites can help you on both fronts.

Your friends can tell you where the hottest deals are in the blink of an eye. Companies you love can reward you with discounts and advance sale notices for being a loyal customer and follower. And social reviews can tell you when it’s a better idea to buy now or avoid spending altogether.

How do you save money thanks to social media? Share your own tips or ideas in the comments below.