Saturday, January 2, 2010

It's OK to make money with social media

If your company gets involved in social media this year, will you make money from it? If not... don't bother.

Yes, I realize that your customers want you to get involved with social media. Many of them would also like you to give away free beer, but you probably don't do that.

Yes, it's true that your customers are having conversations about you that you aren't aware of. But do you think that didn't happen before social media? Please.

Yes, your competition may have hundreds of people engaging with them in the social sphere. But are they doing anything truly remarkable, or are they just chatting? More importantly, are those people buying more stuff because of those conversations?

You won't succeed at social media on accident. And success probably isn't measured by mentions and followers. Success for your business is measured in dollars, not sentiment. In sales, not conversations.

Social media playtime is over. Business just getting involved today don't have the luxury of figuring it out as you go along. It's time to stand on the shoulders of those who've come before. Time to learn from the mistakes of others. And to extend on the wins many have made.

Three questions to think of:
  1. Is your social media crew up to the challenge? The right crew will have a blend of business acumen and real-world social media skills. Balance is important.
  2. Does your agency talk in the language of your business? The only metrics that matter are the ones you care about.
  3. Are you demanding return and payoff from your digital marketing efforts? If it costs money, it should return more money. Period.



Your answer to all of those should be an emphatic yes. If not, put those responsible on notice.

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