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Understanding and Aligning the Value of Social Media
Posted By Bryan Eisenberg On November 7, 2008 @ 6:42 am In ROI Marketing,Relationship Building,Social Media | 40 Comments
The economy still weighs heavily on everyone’s mind, and we’re seeing drastic changes in traffic patterns . Hopefully, with changes in the U.S. political climate, things will turn around a bit.
Over the last few weeks, I’ve also been watching many self-proclaimed marketing gurus speak of social media’s role in filling in the gap during the economic downturn. While social media should be a part of any forward-thinking and transparent company, I would urge caution if you believe that you can monetize it easily or quickly. It’s also not a magic pill for traffic building.
The biggest problem I have with the term “social media” is that it isn’t media in the traditional sense. Twitter, Facebook, LinkedIn, and all the others I don’t have the word count to mention aren’t media; they are platforms for interaction and networking. All the traditional media — print, broadcast, search, and so on — provide platforms for delivery of ads near and around relevant content. Social media are platforms for interaction and relationships, not content and ads.
To be truly effective using these interaction platforms, you must understand why we use them.
We raised $282. Not too bad. But more important, we learned more about what moves people to take action. We learned that people loved to play but are less willing to pay .
As of this writing, Twitturly  shows there were 150 tweets with an estimated reach of more that 165,000. This only measures the number of people who sent the link around, though there were many others playing. Clearly it was a successful game, but the metrics didn’t translate into the big money I had hoped for charity.
While this is an anecdotal example, it demonstrates social media’s power to reach and engage people — on their terms, not yours. People are attracted to people. People used the game mostly to connect with other people.
Social media isn’t an advertising and branding platform; it’s a hyper-interactive relationship-builder. Social media isn’t a magic pill for traffic woes; it’s used to deepen longer-term relations.
When you engage in social media, you enter into an unspoken social contract. You are in a relationship; it goes both ways. There are boundaries. Respect and trust must be earned.
Here are a few ways to view and use social media:
- Be transparent. Share the good and the bad.
- Be yourself. People want to connect with real people, not with plastic packaged images.
- Don’t breach the social contract by doing nothing but selling your wares.
- Take interest in others and share valuable information, even if it doesn’t benefit you directly.
- Listen. You can learn a lot.
- Be patient. Let things grow organically.
- Viral campaigns can and do work, but they are the exception to the rule. (In other words, only the masses have the power to deem something viral).
P.S. As an update to the Trick or Tweet event, thanks to the Twitter community and an anonymous matching donor, we raised $200 each for Epic Change, Florida Borderline Personality Disorder Association, and e-Mail Our Military.
Article printed from Conversion Rate Optimization & Marketing Blog | FutureNow: http://www.grokdotcom.com
URL to article: http://www.grokdotcom.com/2008/11/07/understanding-and-aligning-the-value-of-social-media/
URLs in this post:
 Image: http://www.grokdotcom.com/wp-content/uploads/2008/11/peopleline.jpg
 traffic patterns: http://weblogs.hitwise.com/heather-dougherty/2008/10/traffic_down_to_online_retaile.html
 social media addict: http://www.grokdotcom.com../2008/10/20/social-media-addict/
 marketing: http://www.beingpeterkim.com/2008/09/ive-been-thinki.html
 Chris Brogan: http://www.chrisbrogan.com/
 Trick or Tweet: http://www.grokdotcom.com../2008/10/29/trick-or-tweet/
 are less willing to pay: http://profy.com/2008/10/31/trick-or-tweet-proves-twitter-users-are-rarely-willing-to-pay-yet-are-eager-to-play/
 Twitturly: http://twitturly.com/urlinfo/url/3bcc9d73d71080dff6991e694517a2e3/
 tweeting: http://twitter.com/TheGrok
 Facebooking: http://www.facebook.com/profile.php?id=500386740
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