If you are not immersed in this online world yet you may wonder why the need for multiple accounts. To me, I liken it to why are there so many TV channels. The answer is simple when thought of in that respect. The different sites provide me with different benefits and values. I use each one for specific reasons, and I do not think one site can provide all of these values.
Facebook allows me to stay connected with friends by posting pictures, engaging in conversation, seeing conversations they are engaged in (not in a stalking manner), and see where their lives are taking them. As much as many of us will not admit it, Facebook also gives us a mile post for our own accomplishments. We can see what our peers are doing in their professional and personal lives if they choose to share. On the same hand, I can share my life with my chosen group of friends. I posted pictures of my wedding and our amazing honeymoon, allowing my friends to experience it through pictures. I share with them my thoughts of what success is, and my ambitions in my professional career. This is my trusted circle of friends, otherwise why would I share this information and experience?
Twitter and Foursquare are fun, and that is why I use them. Twitter allows you an outlet to be random, and express your thoughts as they come to you. This is not the place for a monologue or diatribe on how the price of milk is affecting your ability to feed your cat. You share with everyone who follows you and who you follow. Much less informal than Facebook. It is almost like a party, where you open up to complete strangers after a few drinks...Foursquare lets you announce to your friends where you are and what you are doing by checking into places. The creators of Foursquare are intelligent for making it into a game where you unlock badges throughout your journey. This gives people a reason to continue using it, which adds to the appeal for businesses (which we will get into later)
Linkedin is the professional social networking site aligning businesses with clients as well as providing an outlet for job recruitment. I love Linkedin and I think every professional should have a Linkedin profile if they want to compete in the coming years. LinkedIn gives you the opportunity to know your buyer's decision maker personally before you go into a presentation. How could you not want that information?
Now that you know what each one accomplishes on a social scale, lets look at what businesses can and have gained by entering this social media world. First let me say that I am not an expert in the field of marketing and I have not studied the data on forms of marketing in depth. I am simply and observer of consumer trends and trying to learn each day how to better serve and connect with them.
The benefits for companies to jump wholeheartedly into social media are endless. Two impact areas for any business are costs and sales. How can we the business community drive sales and reduce costs? The answer really is not difficult, however most marketing traditionalist do not want to admit it yet. I've briefly outlined the two below.
One can argue it is an inexpensive way to reach a large variety of current and potential customers. Anyone who has sat in on a sales pitch from a radio or cable rep knows the cost of those forms of marketing. Other forms of marketing for retail businesses include direct mailing, coupon books, and grassroots marketing (aka hustling). All of these include direct costs and more often than not, substantial costs. When thinking of ROI, or Return on Investment, do these forms of marketing become worth it? How can you measure what a $10,000 radio campaign brings you in new or repeat business? With a strong social media campaign a company does not have any direct costs, as all of the sites are free for everyone to use. Used correctly, this can be used as an online assault of your competition without breaking the bank. And guess what? You can talk to your customers about what is working!
Another benefit is customer relationship. If you walk up to your favorite store, restaurant, or bar and they know you by name and greet you it makes you want to come back right? Every business should make it their priority to develop relationships with their customers. Repeat business is the only sustainable business model, and it has to be cultivated. Traditional forms of marketing are not conversations, unless you consider conversations one way....yea me neither. Radio and cable only let you talk to your potential clients about YOU. It does not allow you to discuss what THEY want. What they want is the key to the magic equation. Social Media allows for this two way conversation to occur between the company and the customers. Each one learns about the other in a non-selling manner. Businesses build trust among their buying community and the sales roll in. How much less stress is it to talk to your friends than it is to a potential client. Win them over and the relationship lasts forever.
-Luke
Now that you know what each one accomplishes on a social scale, lets look at what businesses can and have gained by entering this social media world. First let me say that I am not an expert in the field of marketing and I have not studied the data on forms of marketing in depth. I am simply and observer of consumer trends and trying to learn each day how to better serve and connect with them.
The benefits for companies to jump wholeheartedly into social media are endless. Two impact areas for any business are costs and sales. How can we the business community drive sales and reduce costs? The answer really is not difficult, however most marketing traditionalist do not want to admit it yet. I've briefly outlined the two below.
One can argue it is an inexpensive way to reach a large variety of current and potential customers. Anyone who has sat in on a sales pitch from a radio or cable rep knows the cost of those forms of marketing. Other forms of marketing for retail businesses include direct mailing, coupon books, and grassroots marketing (aka hustling). All of these include direct costs and more often than not, substantial costs. When thinking of ROI, or Return on Investment, do these forms of marketing become worth it? How can you measure what a $10,000 radio campaign brings you in new or repeat business? With a strong social media campaign a company does not have any direct costs, as all of the sites are free for everyone to use. Used correctly, this can be used as an online assault of your competition without breaking the bank. And guess what? You can talk to your customers about what is working!
Another benefit is customer relationship. If you walk up to your favorite store, restaurant, or bar and they know you by name and greet you it makes you want to come back right? Every business should make it their priority to develop relationships with their customers. Repeat business is the only sustainable business model, and it has to be cultivated. Traditional forms of marketing are not conversations, unless you consider conversations one way....yea me neither. Radio and cable only let you talk to your potential clients about YOU. It does not allow you to discuss what THEY want. What they want is the key to the magic equation. Social Media allows for this two way conversation to occur between the company and the customers. Each one learns about the other in a non-selling manner. Businesses build trust among their buying community and the sales roll in. How much less stress is it to talk to your friends than it is to a potential client. Win them over and the relationship lasts forever.
-Luke
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