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Do You Have an Edge(Rank)?

EdgeRank is the algorithm used by Facebook to determine where and what posts appear on each individual user’s newsfeed. The three variables that make up this algorithm are Affinity, Weight and Time decay.

Affinity measures the relationship between the viewing users and the creator of the story.  The closer the relationship, the higher the score.  This way your newsfeed will prioritize stories from let’s say your brother over some weirdo who added you a few years ago.  Affinity is one way that interacting heavily with someone will increase the chance of their stories appearing on your newsfeed but your stories won’t necessarily appear on theirs.

Different types of posts carry different weights.  The higher the weight, the higher the score.  In order, they rank 1. Photos/ videos 2. Links 3. Plain text updates.  Engagement also carries weight.  If you post a plain text post but it has several comments and likes, it will also carry a heavier weight.Also. by using new Facebook features, you will be able to reach more fans because Facebook assigns higher weight to encourage usage.

How old is the post? As a post ages, it continually loses value. This way your newsfeed will always remain fresh with recent news.  How quickly the post loses value or “decays” depends on the Facebook user.  If you only log in once a week, there is a chance of stories that are a few days old appearing on your newsfeed.

EdgeRank matters because 96% of fans never go back to a brand’s fan page after initial engagement.  Your posts are 40 -150 times more likely to reach your fans in the newsfeed than your page because 27% of all the time on spent on Facebook is looking at the newsfeed but only 16% of your fans will see your posts on average.

Now that you know what EdgeRank is and why it matters, the next step is to figure out how to improve your EdgeRank Score and get more of your fans seeing your posts! Stay tuned for tomorrow’s blog where will give you some tips for improving your EdgeRank score.

Hashtags You Should Know

Did you know that Twitter handles more search queries per month than Yahoo! and Bing combined?

I know many out there have been simply using Twitter as a social tool – chatting with others and  keeping in touch with my wolf pack – and for some reason it doesn’t occur that Twitter is also a powerful research tool.

Well, Twitter: message received.

Don’t just use Twitter to make connections: use it to stay on top of the latest trends in your industry, learn new skills, and become the entrepreneurial rock star you’ve always wanted to be.

Below are 20 hashtags you can use on your quest for total world domination.

#B2B Business to business.
#B2C Business to consumer.
#BizTip Business/entrepreneur tips
#business Business news & resources.
#consumers Discuss buying behaviors.
#DIY Combine with other business hashtags to learn new skills.
#entrepreneurs Meet others launching & running their own businesses.
#HowTo Combine with other business hashtags to learn new strategies.
#innovation Learn about others breaking the mold in their industry.
#marketing #mktg Marketing news, resources and best practices.
#networking Online & offline networking tips and best practices.
#retail Links & resources for the retail industry.
#smallbiz #smallbusiness Tracks conversations & small business resources.
#socialmedia #sm Insights & advice to refine social media strategy.
#startup #startups Startup news, resources and advice.
#tutorial Combine with other business hashtags to find specific tutorials.

No Better Tool

Chances are, as a small business owner, at least some part of your day is spent pondering exactly how to make your business stand head and shoulders above the rest.

It’s an important question and well worth whatever time you devote to answering it. Fortunately there are a few simple things you do right now, using social media, that will likely put you ahead of your competition, or at least on an even footing.

You should have a voice.  One of the most important elements every business needs is a unique voice and personality.  This is especially true online. People want to connect with other people, not nameless, faceless companies. Small businesses can set themselves apart from the pack by standing for something. What separates the companies with fans, from companies that compete on price is that they believe in something bigger than themselves.

One of the best ways to connect with people is to engage them emotionally is by sharing a common bond and rallying against a common threat.  This gets people to “buy in” emotionally and you’ll have a better chance of standing out from everyone else and sticking in their minds.

There’s no better tool for these things than social media!