Monday, August 8, 2011

ROI in Social Media? The Bottom Line… My Top 5 Reasons

I was on a call this morning explaining why to use Social Media... so I thought I would share publicly my top 5.
#1 – It’s FREE! Social media channels like Google+, Facebook, Twitter, etc. are little or no cost to you at all. FREE EXPOSURE!!!
#2 – It take times and effort like any good marketing strategy!
#3 – It enhances what you’re already doing.
#4 – It is all about building relationships and driving clients back to you (your info, your expertise, your knowledge, your website).
#5 – It builds your brand. You are able to promote yourself in a variety of ways and place your brand in front of thousands of people.
(take a look at the chart I found in a report from the Social Media Examiner)
Still not with me… Consider the following by by Jay Deragon of the Relationship Economy.
There are dozens of reason why but we’ll keep it to the top ten. These are:

1. You will find whomever you want to do business with somewhere online
2. You will find whatever knowledge you need about any market or any person online
3. You can reach your market by simply engaging in the right conversations with the right people. This is more effective than advertising.
4. If your business can’t be found, isn’t engaging with the market or worse yet ignoring the market you are not likely to be creating transactional opportunities while your competition does.
5. Communications is a system to leverage your organizations ability to communicate with your market. Social media is the new communications system.
6. Social media saves time and money if you use it right for the right things
7. If you learn “how” to use social media correctly then you’ll understand “what” your market is looking for and “where” they are looking. You’d want them to look for you.
8. “When” your customers and prospects are engaging about you, your industry or your products and services you need to be there listening. Otherwise how will you gain the necessary market intelligence, be enabled to respond or even be aware of problems or needs. If you are not present when and where the conversations are occurring you are basically out of touch with your market.
9. Communications is about reach. Communicating is about relational dynamics between people. Social media provides the means to effectively communicate with your market. However, communicating in human rather than institutional terms.
10. If you are not communicating (listening first, initiating second) then how in the world do you expect to create relationship with people and businesses that may want the value you offer?

When people need or want something in the old days they’d look up information in the yellow pages. Today people turn to search engines to find what they want or need. When people are looking to purchase something, they want and need more and more they are going on line to find out what other people think or say about a product, service, or brand. The relevancy that influences people’s buying behavior is other people’s conversation, including yours. That is if they can find your conversation and if it provides value people are looking for.

To sum up: For many, the Web isn’t a place to look for information, it’s the only place.

And it’s true…time is money. Many will say that social media takes too much time. Well, not if you’re using it in an effective manner. If you find you, cannot make the time… then outsource it and delegate it someone who will. Social media and content marketing is too powerful to neglect in your marketing strategy.

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