FTC regulates blogging! Insights into the new world of paid influence

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The US Federal Trade Commission has released its long-awaited update to its “Guides Concerning the Use of Endorsements and Testimonials in Advertising” to now cover blogging and social media.

The headline news is that:

The revised Guides also add new examples to illustrate the long standing principle that “material connections” (sometimes payments or free products) between advertisers and endorsers – connections that consumers would not expect – must be disclosed. These examples address what constitutes an endorsement when the message is conveyed by bloggers or other “word-of-mouth” marketers. The revised Guides specify that while decisions will be reached on a case-by-case basis, the post of a blogger who receives cash or in-kind payment to review a product is considered an endorsement. Thus, bloggers who make an endorsement must disclose the material connections they share with the seller of the product or service.

Those contravening the FTC Act can be fined up to $16,000 per post (it has been increased in the last year from the $11,000 that has been widely reported).

In other words, the world of paid influence that we explored at Future of Influence Summit will be regulated and laid open.

This whole thing is a minefield, and I wish had more time to run through all of the issues, but here are a few top-of-mind points that need to be made about this:

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Social Media Strategy Framework in Portuguese – Modelo Estratégico das Mídias Sociais

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Continuing our series of translations of Social Media Strategy Framework, today we are launching the Portuguese edition.

See the original post for the full overview of the Social Media Strategy Framework in English.

SMSframework in Portuguese

Click on image to download pdf

Please share this with any Portuguese speakers who would be interested.

Also be sure to let me know if you can suggest any improvements to the translation.

Social Media Strategy Framework in Russian – Структура стратегии в социальных медиа

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Continuing our series of translations of Social Media Strategy Framework, today we are launching the Russian edition.

See the original post for the full overview of the Social Media Strategy Framework in English.

SMSframework in Russian

Click on image to download pdf

Please share this with any Russian speakers.

Also be sure to let me know if you can suggest any improvements to the translation.

Social Media Strategy Framework in Chinese – 社交媒体战略框架

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Continuing our series of translations of Social Media Strategy Framework, today we are launching the Chinese edition.

See the original post for the full overview of the Social Media Strategy Framework in English and compilation of the framework in 11 different languages.

SMSframework  in Chinese

Click on image to download pdf

Please share this with any Chinese speakers.

Also be sure to let me know if you can suggest any improvements to the translation.

Case study: hitting the Billboard charts by free online streaming of the album

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I notice that Imogen Heap is continuing with the free streaming of her album Ellipse . And no doubt significantly because of the free streaming, Ellipse is charting at #5 on Billboard. It is a glorious album, though I think we can pretty definitely count the free streaming of the album on the web as a very effective strategy. Perhaps it will become commonplace to stream music for free in order to maximize sales.

I’d be keen to know the proportion of sales of this album and the songs on it online versus through CD. It would almost be surprising if she sold much in CDs at all, because her presence is so online..

I notice Imogen on Twitter now has over a million followers.

A bit tangentially, I just found this beautiful video of a beautiful song by Kate Havnevik, who I found through collaborative filtering and Imogen’s music. If you like Imogen you’ll absolutely like the extraordinary Kate. (note that it doesn’t start for 10 seconds)

The future of social networks and television distribution channels

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Last weekend’s Sunday Telegraph published an article titled Tech to the future that looks at what’s coming next in consumer and social technologies. Unfortunately it isn’t available online, however here are the sections where I was quoted:

Futurist and author Ross Dawson says the next big shifts will pivot around how we connect to other people and “how we share the content of our lives with others. It’s all about the social use of technology.”

Analysts predict that rather than a new Twitter-styled platform emerging, social networks will move towards being meshed or interconnected. They say private and public data will blur together and an advanced version of the social networks of your choice will be your browser of entry point.

Now that we have as a society discovered sharing the content from our lives, the floodgates are open. Interoperability across social networks is evolving slowly, but is what we are coming to expect. Then later in the article:

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Will Influencism supplant Capitalism? The emergence of the influence economy

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One of the most interesting topics at the recent Future of Influence Summit was the emergence of business models for influence. Some particularly intriguing issues were raised in the Business Models for Influence and Reputation panel, suggesting that one of the key currencies of the future will be influence.

The panellists generally agreed that total revenue in the influence sector, including the companies represented on the panel (Rapleaf, Buzzlogic, Klout) is around US$100 million. The primary business model is providing insights to companies on who the influencers are in their customer base.

One example given is a hotel that asks guests checking in for their Twitter name, swiftly ascertaining how influential in social media they are, and treating them accordingly. If someone who has real reach is their guest, the hotel might upgrade them or otherwise treat them in a way that they are likely to rave about.

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Measuring influence on Twitter: the state of the art progresses step by step

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Influence is the topic of the moment (as well as the next decade). In the wake of our very successful Future of Influence Summit earlier this week, not one but two significant studies of influence on Twitter were released today.

An extensive study titled The Influentials: New Approaches for Analyzing Influence on Twitter, created measures for relative influence, tracking in detail 12 popular users. Commentary on this further down in this post, and a nice visual showing response density to these users below.

influentialstwitter.jpg

Rapleaf, whose CEO Auren Hoffman spoke at Future of Influence Summit, released a quite different report showing the change in the structure of the Twitter ecosystem in the period late-March to mid-June of this year, during which time Twitter usage grew 60%. Rapleaf, in the course of doing a study to identify influencers in one of their clients’ customer community, came up with some interesting statistic in the dynamics of the most prominent Twitter users.

Twitter-follower-growth.PNG

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Five key trends in how influence is transforming society

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I just got off an interview on the future of influence on 2SM radio which lasted almost 15 minutes – close to a record for my interviews on live AM radio, which tends to do 3-5 minute segments. The talk show host was clearly fascinated by the issues of how influence is shifting away from people like him, and towards the unwashed masses.

In the interview, done in the lead-up to Future of Influence Summit which is on next week in Sydney and San Francisco, I discussed the social transformation wrought by the changing influence landscape, and pointed to key five trends driving this change:

1. Influence is democratized

It used to be that people were influential by virtue of their position, such as CEO, journalist, or politician. In a world of blogging, Twitter, and social media anyone can become highly influential, shaping how we think, behave, and spend. Companies can ignore no-one. As many more become heard, a truer democracy will emerge.

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Hashtag for Future of Influence Summit is #foi09

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Belatedly launching the hashtag for Future of Influence Summit: #foi09

FOI is Freedom of Information as well as Future of Influence, so putting the year in will help us stand out…

I have been remiss in not using the hashtag in my Twittering yet, but now we have quite extraordinary cast of attendees as well as amazing speakers in both San Francisco and Sydney, it’s time to kick off the Twitter conversation on where influence is going.

Hope to speak soon on Twitter about the future of influence!

Here are links to a few conversation starters:

The changing nature of influentials and the role of the social graph

You (or your favorite charity) can make money from your tweets! Participate in an experiment on making money from influence

Influence research: what are the real influence networks within Twitter and social media?

Influence research: Duncan Watts and the debate on whether “influentials” really matter

Launch of the Influence Landscape framework