asked by Jack Mcgovern over 3 years ago
Capturing value in your social network.
Kamran nailed it. In fact the challenges and the questions you both pointed out is the main reason I built awesomize.me and I hope it will help the businesses to overcome that by using us as their first stop on the web before any connection.
Here is my 2cents on this whole internet -> search Engine -> Social media things and my rational on why there is a need for a portal to provide a quick and intelligent decision for both the consumer and the companies about their online connections. A Platform to Help us to Distinguish Our Quality vs. Quantity Friends, Fans, Followers, and Companies:
- Early 90s: WWW was born…
- By mid 90?s: millions of sites popped up on the Web…
- Mid – late 90s: Yahoo & Google were born to help us to find the right information of the right pages on the Web…
- Early 2000: Social media was born…
- Late 2000: Millions of pages created by people, companies, and organizations on all these social media channels.
- 2012 and beyond…the days of just setting up a website or blog to promote yourself, your talent, your business, and your solution offerings AND creating a page for them on Facebook, LinkedIn, are Twitter are O-V-E-R!. Your social media pages and sites should be on a place where the vast number of users and communities can easily find you, learn about you - AND - express their opinion/rate you and your goodies. If you are confident you are selling something awesome, you need the power of the crowd to promote you (and your company) anyway. (more)
Jack, we have some great Social Networking people answering your question. First, Kamran is right on target. We need to find the right Social Network to grow your brands buzz, then having the right person with the right game plan and having some kind of game plan on how to use these tools for your business. You should find success in Social Network Marketing.
Second, would be Elias, who gives you the c-level point of view of the past, present, and vision of the future for social networking or web 3.0. Which is great and he has a point to his message, but there’s a lot of industries & compani nies that are behind the curve meaning their not even in the present and still waiting for the “I told you, this is a fad” speech which needs to stop. We need to start moving their mindset (meaning Owners & Management down to lowest level of organization) towards embracing the power of Social Networking within their organization & industry. Then work it way outside the organization & industry. Once that can happens, both the Quality of engagement in Social Networks and quantity become more since there is a better understanding of using the Social Networks.
I think we all know that social networking blunders create buzz around a brand. Even negative attention drives revenue. However, I find more success in effectively utilizing consumer segmentation It allows us to target consumers with more germane information. In addition, given that sponsored social ads are something of an interruption to the natural flow of online interaction, the value of those ads is in how well they target the appropriate consumer segment. The network matters, but knowing who you're targeting in that network is paramount to the success of your brand and your ROI.
I agree with the answers here, but wanted to add that in my experience the companies that are most successful in using social media to drive revenue are the ones that understand the "social" aspect of social media. Social media is about relationship. Most people will not "jump on your bandwagon" just because you have a Twitter account. They respond to companies that engage and build relationships with customers, creating content that is useful even if it's not "selling" the company or product, etc. Creating content that people will want to share and pass on to their friends and family requ
ires a deeper understanding that comes from regular engagement with your audience.
I feel that the place I work for is beginning to understand and grasp this concept which has led to more interest in our business locally. My goal is to build from there. (more)
Jack, If you learn and end up using the right social media channels, absolutely! You just need to know which one is the most appropriate channel for your business? why? and how to use it? It’s really important to know HOW to use the channel. Once, you learn that, the revenue will start flowing in. They will be intangible for start, but you will soon be able to track them.
Oftentimes, marketers make the mistake of presenting their business propositions first. Social networking media, as the name implies, are primary for socializing. The message therefore is socialize first, and your presentations second. This way you win voluntary prospects who feel that you have genuine interest in them. Once the loyalty is built, you see the sales following.
You shouldn't 'feel' you should know. At http://www.bossrocket.com we tie our social media metrics to our revenues in our cash flow statements. Though we are only five months old so far here are our results:
Facebook: not yet
Linkedin: not yet
If you need help and advice setting this sort of thing up let me know.