Social Media News Update July 23

“Facebook for Every Phone” nets 100 million users

Asia leads in the number of Facebook users worldwide. But in emerging markets including India, Indonesia and the Phillippines, users preferred to access the social networking sites with their feature phones. Facebook launched a feature phone app, Facebook for Every Phone, in 2011 to acquire fans in the region. Currently the app has 100 million users on average each month. It has successfully helped Facebook in expanding penetration in the Asia. Read more

China’s Sina plans to launch online banking service

Sina announced plan for an online banking platform named WeiBank. The new service will allow users to manage financial transactions, bank transfers, remittances and credit cards. Many associated the plan with the e-commerce guru Alibaba’s investment in Sina Weibo. Is social commerce the counteraction of Sina to compete against its fast-growing rival, WeChat? Read more

“From Social to Sale” the new study that reveals the secrets of social media purchasing 

Facebook continued to be the network that drove most customers to purchase. Research shown that social media not only boosted online but also in-store purchases. Although actual conversion rate is difficult to measure, researcher advised companies and brands to see social as an extending medium – a medium through which brands engage with users and offer a customer journey that leads from social to purchase. Read more