Color newspaper, originally uploaded by yanec.

Today’s edition of the newsletter includes McKinsey’s estimation of the market for social commerce, foursquare monetization options and a brand that pulled its FB page due to alleged bots traffic.

  1. Foursquare
    1. New monetization tools with promoted updates (4sq blog, GigaOm)
    2. New merchants platform (4sq blog, ClickZ)
  2. Payvment CEO Christian Taylor Leaves (TechCrunch)
  3. The size of social media in two reports
    1. McKinsey Says Social Media Could Add $1.3 Trillion to the Economy (NY Times’ Bits).  $940bn of consumer spending (one-third) could be influenced by “social” interactions, which could mean that $940 billion of annual consumption in some US and European categories could be influenced by social input (social commerce today)
    2. Gartner: Global social media revenue to hit $16.9B in 2012 (ZDNet)
  4. Google acquired Wildfire. This will allow Google to sell marketing services on Facebook and Twitter. Wildfire serves many major brands including EA, Amazon, Virgin Atlantic and (my favorite) DJ Tiesto (Wildfire blog)
  5. Meet the Man Engineering Facebook’s Revenues (Wired)
  6. Study: Investing In Facebook, Twitter & Pinterest Isn’t Paying Off For Brands (Get Satisfaction blog)
  7. Credit Cards Go Social and Why You Should Care (Card Hub hat tip @nowsourcing)
  8. London 2012: Visa blames Wembley for Olympics card chaos (The Telegraph)
  9. Facebook advertising: Limited Run Pulling Facebook Page, Claims Click-Throughs From Bots (All Facebook) Update: Since the story was publish, the company’s Facebook page was removed. You can now find them on twitter
  10. Valassis launches a new coupon app on Facebook (TechCrunch)