Now that the dust has settled on the latest Empire Avenue event known as [X]Pendapalooza, you may be wondering how to make the most of your sudden gains in connections, share price, and portfolio wealth. Here are the Empire Avenue (EAv) strategies I recommend to capitalize on your [X]Pendapalooza gains.
1. Say Thank You.
If you have not already, go write thank you on the profile of every investor you gained during the [X]Pendapalooza. Or, if appropriate, write you’re welcome instead. Most of us remember to say please often enough in social media, but social superstars throw in equal measures of thank you and you’re welcome to create effective engagement.
2. Connect All Networks
With the frenzied pace over, you should have time to dig into the new additions to your shareholders and portfolio. When you visit these profiles to say thank you and/or buy shares, take an extra minute or two to connect on other networks. If a player is a good fit with your target market, be sure to engage on those other networks. For example:
- Comment on a FB post;
- Retweet a tweet;
- Favorite a Flickr photo.
Remember, adding people in your portfolio to your networks increases their reach and the dividends paid to you as a shareholder. Of course, if they add you back, you also increase your own reach and dividend payouts.
3. Set Price Alerts
During these events, share prices are driven up very quickly, perhaps higher than some players’ current level of social media engagement can support. A few players will show up for an [X]Pendapalooza, put their names on the list, and then disappear without doing any buy backs. Which is entirely okay, by the way. There is no obligation attached to these events. However, a week or two later, some [X]Pendapalooza investors will sell off their shares in these inactive accounts, creating a sudden drop in price. This rebound could eat away at your capital gains.
You can set price alerts on those accounts you fear are at risk of being sold. The price alert button is located on the a user’s profile under the Users in Portfolio and Shareholder counters on the right side. I do not bother with price alerts for most players, but when several of the following apply, I think it prudent to request a heads up should things go south:
- Very few accounts in portfolio compared to shareholders,
- Does not own shares in me,
- Low dividends compared to share price,
- Little or no Empire Avenue activity.
4. Stay Active on Social Networks
Your shares are also subject to being sold off in the coming weeks by investors who change their minds about your stock. The problem with driving your share price so high so fast is that your yield ratio will slip if you cannot also push up your daily dividend payout. What can you do? Stay active on EAv and other social networks, engage with new investors, and strive to keep dividends high. Consider running missions to reward social engagement.
5. Remember: Relationships Are as Important as Dividends on EAv
The true capital of an [X]Pendapalooza event lies in the relationships you build with new investors. Everyone understands you may need time to reciprocate fully following this event, especially if your share price is a small fraction of your investors’ prices.
Keep in mind though, if you do not buy any shares, and you do not pay high dividends that make your shares hard to sell, you risk losing investors who expect reciprocation. That can send a negative signal that has you working twice as hard to maintain your share price a week or two down the road. Along with all the other engagement strategies you employ, consider the value of working to maximize your investment in your new [X]Pendapalooza friends.
My [X]Pendapalooza 10 Gratitude
I would like to call out a specific group of [X]Pendapalooza 10 heroes. They offered missions that enabled me to keep buying for over twelve hours. This list may be incomplete. I apologize and blame the pace of the frenzied buying and thanking for any omissions. At any rate, these are the players I noted ran missions with few or no requirements allowing me to bestow some or all of the eaves “earned” on the investments of my choosing:
(e)NORTHLANDFOX, (e)SPERFORMANCE, (e)OLWE, (e)DFORBES, (e)RADEBIGMAN, (e)LIZPULLEN, (e)RUBENSJS, (e)CISCOGLENN, (e)GEORGEJLLOYD, (e)PROMOTE4YOU, (e)NEPHILIM, (e)GUSHUE, (e)FEEDTHEWORLD, (e)FFNZ,(e)RREIJMERINK, (e)SANDOR, (e)GARETH, (e)DRDAVD, and (e)MITHUHASSAN.
These Empire Avenue players epitomize the pay-it-forward spirit of [X]Pendapalooza. They are great social media connections to have and excellent models of social success.
Thanks to (e)EDUPRENEUR and everyone else in the [X] Bar community responsible for staging these events and ensuring good times for all.
Did you have fun at the latest [X]Pendapalooza? How are you managing your EAv portfolio to capitalize on your gains?
Image courtesy of Moyan_Brenn, Flickr.