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Saturday, April 17, 2010

Do You Really Have To Pay To Play, Aspiring Baby Boomer Entrepreneurs?

In the old era, you had to pay to play. But today's aspiring baby boomer entrepreneur has a new edge. In the old model you had to buy attention. But today, corporations are discovering that big budgets don't produce results the way they once did.

So, if big companies are spending less on social media and getting better results, doesn't it make sense that you can make it on a low or perhaps no budget too?

You can't buy attention anymore.
Having a huge budget budget doesn't mean anything in Social Media.
The old media paradigm was PAY to PLAY.
Now you get back what you authentically put in.
You've got to be willing to PLAY to PLAY.
------- Alex Bogusky, Co-Chair, CP&B

The following video shares with you a glimpse of how Social Media is completely changing the nature of the game.

You can do market research on social media. You can serve your customers through social media. Social media is the doorway to your success as a baby boomer entrepreneur.

One very exciting example of market research is the new use of Twitter to predict customer response to a product.

Two researchers at HP Labs have established that they can use Tweets to predict how well a movie will do - research that can be applied to all manner of events including how well a product or ad campaign may perform.

Although the researchers, Sitaram Asur and Bernardo Huberman, have only applied their methodologies to Hollywood movies, the accuracy rate of their tests is startling - essentially it was more accurate than the current gold standard, the Hollywood Stock Exchange, which the industry uses, writes Fast Company.
You can click here to get the full story.

Fellow baby boomer, we are blessed to be living in the most exciting of times for entrepreneurs. If you know what business you want to be in and how you want to serve your customers, you can PLAY TODAY.

Shallie Bey

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