social media

Is Facebook Inc (FB) Failing to Compete With Other Social Media?

September 18, 2016 By Amanda Stewart 2 Comments

It seems there is a new social media presenting itself to the world every day. Many investors see this as a new area in which they can invest their money while others see the changes as red flags. When it comes to Facebook Inc, investors are worried that newer social media sites will displace Facebook.

Some studies have shown that many teenagers were no longer using Facebook but were instead using Instagram and Snapchat. Will Facebook fall into our not-so-distant memory like MySpace or will it stay afloat? A new study shows that Facebook isn’t likely going anywhere.

Social Media’s Impact on Facebook Inc

Are other social networking sites actually impacting Facebook’s growth? Not really. Facebook Inc (NASDAQ:FB) and its owned properties (including apps like WhatsApp and Instagram) take up the top four slots for app downloads in most months. In August, the top four most downloaded apps were Facebook, WhatsApp, Messenger and Instagram. They were followed by Snapchat, Uber, YouTube and Spotify.

Investors have been concerned about apps like Snapchat sneaking up on Facebook and making the website obsolete. Although there was a slight deceleration in the daily active user growth during the second quarter this year, analyst Anthony DiClemente and his team said engagement on Facebook is maintaining. The team of analysts also noted that Facebook Inc’s mobile app has been steady over the past six months and has 25 percent higher user time than Snapchat (its main competition).

Instagram is Saving Facebook Inc

Instagram, the photo-sharing app, is an app created and owned by Facebook Inc. Although Snapchat has been downloaded a ton since it was created, Instagram is still topping Snapchat in terms of app downloads each month (last month especially). In August, Instagram released “Instagram Stories,” which is a direct shot at competing with Snapchat.

Facebook Inc has its targets set on Snapchat because the app led in app downloads, ahead of Instagram, in February of this year. Since then Facebook Inc investors have been nervous about Snapchat’s affect on Facebook. However, app downloads for Snapchat have declined every month in the last three and Instagram has been claiming the lead once more.

The findings of DiClemente and his team of analysts should comfort investors because it shows that the concerns surrounding Snapchat are overblown. Additionally, Instagram’s “Instagram Stories” is believed to have worked well in taking some users back from Snapchat that it had lost. This proves that Facebook Inc is able and will be able to defend itself against the heavy competition in the social media world.

Will Facebook Inc Stay Afloat?

Does Facebook have anything to worry about? It is not likely that any social media site will surface that will put Facebook out of business. Besides, Facebook Inc’s innovative team continuously thinks of new ways to better the websites and apps it owns each and every day. Like with the creation of “Instagram Stories,” the team will continue to find ways to compete with other SoMe apps and sites.

Apps owned and operated by Facebook Inc account for 30 percent of the mobile data usage in the United States each day. Although some investors may be a bit wary about Facebook Inc’s ability to stay afloat, the company’s apps continue to be the most popular and FB continues to perform well in the market. On Friday afternoon, shares of Facebook Inc (NASDAQ:FB) edged upward by 0.28 percent to $128.71.

Would you invest in Facebook?

Photo: Flickr: Sarah Marshall

What Is Social Media’s Role In Investing?

August 23, 2016 By Jennifer Clark 1 Comment

Social media holds many useful tools, and, believe it or not, one of those is in investing. In fact, social media’s role in investing exists in more ways than one.

Millennials may not be investing as much as previous generations, but it doesn’t mean they aren’t investing at all. Thanks to Generation Y, social media does have a fairly large influence in personal finance. Here are three major examples:

Millennials are using it for investment tips and resources.

These online devices allow millennials to take a different route in investing than their parents would. Through a few clicks of the fingers, young Americans can become more educated on the importance of investment as well as viable financial tips. Although this route is non-traditional, it’s important to embrace this movement to encourage younger age groups to invest. And, perhaps it’s working; millennials have actually developed more of an interest in the stock market in recent years, according to BlackRock’s Global Investor Pulse Survey.

Investment picks are being influenced by social media.

Social platforms’ newsfeeds tend to be a great source of information for investors. There is a Twitter automation tool to help investors sort through the mass information online to see what’s going on with businesses along with major events that may affect their financial decisions. Twitter in particular is very useful for investors and many predictions have been made in the stock market based on certain posts on Twitter. This tactic is used to also see how consumers feel about a certain company, which also affects how well businesses are doing in their stock.

It’s making investing easier and faster.

Twitter has become one of the most useful social media tools for investors. It provides quick and immediate news, which is key for those in the finance industry. Time is of the essence when making decisions in the stock market.

If you’ve ever spent some time on Twitter, though, you know how quickly the information is distributed. This can make it difficult, at times, to find what you need. You can certainly use the search bar to find relevant information, but an algorithm tool exists to help sort this data specifically (and quickly) for you. Through the use of keywords, Dataminr, which was created in partnership with Twitter, delivers real-time news right to your inbox or phone.

As it happens, 5 million affluent investors are using social media to make and research financial decisions, according to this survey conducted with LinkedIn. It’s amazing how the internet continuously evolves and creates more opportunities. Not to mention, the power of social media alone provides valuable information and resources for both businesses and individuals. These online platforms are also great tools for engaging millennials to invest.

However, one of the biggest downsides to social media’s role to investing is the expectation of immediate results. Technology does have a place in finance, but it’s important to remember that wealth still takes research, dedication and, yes, time.

Has social media played a role in your investment decisions? Share your thoughts below.

Save Money: Stop Comparing Yourself to Others

March 2, 2016 By Jennifer Clark 2 Comments

If you are a Home Goods fan, looking in any of their catalogs of their beautifully and intricately set up rooms is enough to drive one crazy with envy. Or, if you are the outdoorsy type, walking into REI may depress you as you fantasize of a kayaking adventure, which may not be attainable according to your bank account. While you may not have these items or goods you currently dream of, you can certainly learn to enjoy what you have more.

With the rise of social media, it’s easier now more than ever to take a peek into the lives of our peers and co-workers and become jealous of their homes or their vacations as they continuously share photo after photo of their latest remodel results. It’s easy to wish we had more, to wish our funds were never ending, so to speak, so that we may, too, travel around Europe for an entire summer with the kids. This constant wishing can depress us, but it’s important to remember, as the old saying goes, the grass is always greener on the other side.

By focusing more on what you do have rather than what you don’t, you can adjust your thinking and mindset; you can be happy for your friends while still enjoying your current possessions and features (both material and abstract). While that may sound easier said than done, it does take time to form a habit, and the way you think is one of those habits.

Any time your thoughts begin to turn negative about your own life due to another’s financial gain, whether in the form of a salary or tangible item such as a new car, make it a point to immediately set your mind on three positive things in your life. Examples include:

Your health and well-being
Your family and friends
How much fun you had (and how much money you saved) with the kids simply camping in the background last summer

No one can take those memories away from you, and they are absolutely priceless.

To take this exercise one step further, write these special things down on a piece of paper and store them somewhere where you will easily have access to them. To start, think of a specific area in your life that may be particularly vulnerable that you find yourself always comparing to others. Then, consider your own attributes you possess and appreciate. Your purse, briefcase or framed on a wall, choose an area to keep this list of positives for you to easily reference any time.

It’s nice to be able to afford nice things on a regular basis, and if you are looking for more financial freedom, you should review these five ways to save and earn more of your income. However, many times, we often do not realize that what we are blessed with is also being coveted.

Overall, jealousy is unfortunately a human trait that we often cannot help. We aren’t perfect and never will be. With these tips and the above exercise, though, you can work toward focusing more on what is so great about your life and current situation rather than what is missing.

Photo: Flickr: AJU_photography

10 Ways to Save Money with Social Media

January 20, 2016 By Alexa Mason 1 Comment

Everyone is constantly looking for ways to save money. There are plenty of ways to do it, and some are right underneath your nose every day. In fact, there are plenty of ways to save money by using social media.

Offers and Giveaways

Sometimes it seems as if social media is everywhere. With so many different platforms out there it’s hard to avoid knowing about social media. But you can use social media for more than just networking or leisure time. It can be a great place to save some money since many businesses have social media accounts and are eager to connect to their customers. For instance, many companies will host special offers or giveaway for their followers. Have you ever seen those contests where someone will win a certain amount of money or a specific prize if they receive one million likes on Facebook? Maybe you’ve seen a company on Twitter offer their followers a free item if they retweet something.

Coupons and Discounts from Retailers

A lot of companies also tend to reward their followers and loyal customers by posting coupons or discounts on their social media sites. One company might post an online 30% discount code on their Twitter account. Another company might offer a “buy one, get one free” coupon for people who become a fan of their facebook page. Amazon, for example, offers followers of their @amazondeals twitter account the first glance at daily lightning deals.

Deal Bloggers

Following deal bloggers can also be a great way to save some money through social media. There are plenty of different bloggers who use sites such as WordPress, Tumblr, Blogger, Facebook, or Twitter to promote different deals, sales, and coupons that are available. Some of these deal bloggers may promote anything they come across while some focus on specific industries or products.

Contacting Retailers

Have you ever tried to call your cable company or electric company only to end up on the phone for hours? Maybe you never even have a chance to talk to someone and are left waiting in phone limbo, hoping that someone might pick up the phone and address your issues. Most major companies (and a good number of smaller, independently owned companies) have social media accounts. Sometimes it’s actually quicker to have your problems addressed by taking up issue with them on their facebook page or twitter account. Since these messages are public, they’re more likely to respond to them immediately. So if you have complaints about the $20 that was randomly tacked onto your bill or want to try and lower your outrageous cable and internet bill, consider reaching out to your provider’s social media account.

Reviews

Certain sites, such as Yelp, allow you to write reviews about businesses you’ve visited. Some people also have blogs devoted entirely to reviewing products they use or businesses they’ve visited. Sometimes reviewing can lead to free items or compensation for bad service. A company might want to be featured on your review blog so much that they offer you free products, services, or gift certificates. On the other hand, a negative review about a local restaurant could cause the restaurant manager or owner to reach out to you to try and comp your meal.

Check-In or Local Deals

If you have a smartphone, apps such as Yelp, Living Social, GroupOn, or Foursquare can help you not only save money, but potentially score some free items. Apps such as GroupOn and Living Social have location based deals that populate based on your GPS location. So, for example, if you’re hungry, you can try pulling up the GroupOn Daily Deals app and seeing what restaurants are located around you and offering a deal. Apps such as Yelp or Foursquare often offer free items, discounts, or coupons if you check into specific locations.

Networking

Networking through social media can also help you save money. Let’s say you’re looking for a new TV but you don’t really have a lot of money to buy a new one. You might log onto Facebook and find that someone is trying to get rid of their television before they move. Or one of your friend son Twitter or Instagram might have a TV they’re looking to sell for a fraction of the original price. In fact, if you have enough Instagram likes, you may even be able to make a bit of extra income.

Comparing Prices, Sales, and Brands

The great thing about social media is that you usually have all the information you could ever need right at your fingertips. There are numerous apps dedicated to comparing store prices, for instance. There are blogs dedicated to alerting you about sales going on at major retailers or offering price or sale comparison between certain brands or products.

Track Spending

Some sites, such as Tweet What You Spend, allow you to keep track of your finances to make sure that you’re staying within your budget. If you choose to use an option like this, you might want to create a separate twitter account so your friends and family aren’t privy to your finances. The site allows you to keep use your tweets to create a spreadsheet to monitor your budget or self-imposed spending limits.

Alternative Options

You can also use social media to find other ways to save money. For instance, Twitter accounts that are focused on personal finances might offer links to money saving gadgets or advice. Pinterest has plenty of lists about cheaper product alternatives or unique ways to save money. The internet is so vast that you can find a bunch of different money saving alternatives through social media.

Photo: Flickr: Jason Howie

Fastacash’s XOPO app will Allow Users to Transfer Funds via Social Media

November 17, 2015 By Amanda Stewart 1 Comment

Social media has been used for sharing photos, following celebrities, keeping up with friends and even notifying everyone what you just ate for lunch. However, a financial technology start-up company is now saying that social media will also be able to be used to send money.

Fastacash

Fastacash, a Singapore-based company, believes that social media money transfers may be the key to making international money transfers faster and cheaper. The company, which is three years old, has launched a new app called XOPO. XOPO will allow its users to make payments via social media websites like Facebook, Twitter and WeChat. This will make it possible for people to transfer money across borders much faster and way cheaper than any app or service ever before.

The app will allow people to share money via more than one social network. “Everyone talks about the sharing economy but what people are not doing via these networks is sharing economics. They share videos and photos, but they are not sharing real economics such as money,” Vince Tallent, chairman and chief executive of Fastacash said.

“So we want to bring transaction capabilities to these communication networks. By making international transfers a social activity, not only are we disrupting how billions of dollars are moved across borders, for the first time people will be able to transact in the same way as they communicate, with no barriers and boundaries,” he said.

Currents apps allowing payment

Currently, Facebook allows peer-to-peer payments through Messenger. You may have seen the option to “send money” any time you mention a dollar sign in a message. Facebook’s payment service is free.

WeChat offers a payment option, but they charge a .01 percent fee for transfers over $3,141 a month between the app’s users.

Why XOPO is different

Although both of these apps have allowed transfers between users, XOPO will be the first app that allows its users to transfer funds across borders. Senders will simply need a debit card and a smart phone (or other smart device).

Once you’ve downloaded the app, it will allow you to transfer any amount of money through different social media channels that are connected to the device. XOPO will charge a flat fee of $4.52 for each transaction, no matter the size.

How do you receive the money?

Users will receive their money one of two ways. They can have the money directly put into their bank accounts or they can pick the money transfer up at Xpress Money. Xpress Money is a global money transfer service. The company has partnered with Fastacash to offer the new services through XOPO.

Is it secure?

“I use social media such as Facebook very often so the concept [sounds] convenient but I am not sure if I want to try because I am worried if my money can reach my family safely,” said J.M. Caspillo. Caspillo sends $425.31 a month home via a remittance center.

The question remaining is will XOPO be able to get rid of people’s fears and get them to start using this app? Fastacash believes so. It has partnered with some of the larger banks throughout the world to instill confidence in its future customers.

The app is not yet readily available in the United States, however, it is only a matter of time before it is. Currently, it has been being used since Oct. 28 in the United Kingdom where the app’s users have been able to send funds to India, Nigeria, Pakistan and the Philippines. Chief executive Tallent said that it is “only a matter of time” before the technology will be seen in all parts of the world.

OKCupid Says User Data Is a Valuable Social Tool in New Dataclysm Book

September 6, 2014 By Emma Harrison Clark 4 Comments

OK Cupid social data should be available to all

Earlier in the year, dating site OkCupid made headlines with a blog announcement that they had manipulated the way users are matched with other users in order to research human behavior. Now the company’s founder has decided to take their data-use one step further with a book claiming that all social media data should be a publicly accessible, sociological resource.

OKCupid is well known for collecting users’ personal information in order to match them with future partners. Issuing an unspoken but tantalising invitation – “the more you tell us, the more likely it is we can match you with the person of your dreams.”

And it has worked. OKCupid holds a huge amount of information, and as we saw in a blog post earlier in the year, they’re not afraid to use it. The post was on a research experiment they had undertaken and was provokingly called: “We experiment on human beings.” It garnered both ferocious protest and wry comment from the media and from users, many of whom were frustrated and felt like guinea pigs, despite having agreed to user terms which allow this type of data mining.

Now, Christian Rudder, who was the author of that post and is also the CEO of OKCupid, has published a book on the importance and relevance of social media data his and other companies have collected. It’s called; Dataclysm: Who We Are When We Think No One’s Looking (Crown).

The NY Times interviewed Rudder about his book and his argument that data from the various social media sites we use is an important social resource and should be brought to light.

“I realized I could use the data to examine taboos like race by direct introspection,” Mr. Rudder writes, describing how he tapped into aggregated information about OkCupid members to examine online interactions between white men and black women. “The data was sitting right there on our servers. It was an irresistible social opportunity.”

He’s also interested in the way we interact romantically. Upon collection of data, he uncovered that what we say we want online is often not what we pursue. For example, heterosexual men typically search for partners between 24 and 40 years old. But the women they actually connect with, are rarely over 29 years old. Rudder says, “I see this as a statement of what men imagine they’re supposed to desire,versus what they actually do.”

His book urges companies to share more of their data in the name of social transparency. But any moves towards this practice of transparency would surely have to be regulated. Sharing personal information is a matter of ethics. And although they are protected by a veil of anonymity, many users will not be happy with the exposure.