Making Social Networks Work
Tuesday, January 25th, 2011By now you have heard about web-based social networking (Twitter, Facebook, Myspace, etc.) and you have an understanding of what it is. You know people are using it, some with claims of free flowing business opportunities and profitable connections. If you have been daring, you have stepped into the world of social networks, and maybe even established a profile for your business. However, it is likely your business has yet to capture and realize the full potential of your new electronic network.
The typical business will use their social networks as a secondary gateway into the company’s primary website, in an effort to build traffic. It is a valid and noble effort, as you are building links, which is ultimately helpful in building Google rank, but this alone, does not unleash the raw, potential power of your newly established network.
Successful social networking, like a high quality advertising campaign, requires a sound strategy that engages your customer, maximizes your ROI, and builds your position in the market. A haphazard approach to networking produces minimal desired results. You need a map, a strategy, a mini business plan for your social networks.
In my universe, one of the classic mistakes I see is that event planners spend a tremendous amount of time networking with other event planners – their competitors. The logic is that this networking allows for the free exchange of ideas and business practices, but ultimately they are missing the bulls-eye. Why build an exclusive network of your peers, when your peers will never hire you? Go to your target audience. If you are in the insurance industry, connect with a small business owner’s network where the demand and need for affordable insurance is great. Print designers can connect with the meeting and event planners group, where event advertising and publications are in high demand. Sustainability experts, the world is yours. Connect to everyone!
In my experience, the greatest untapped power of social networks is as a two-way communication tool with the customers. A well constructed social network allows the delivery of a message and allowing it to rise above the daily clutter of ”junk advertising.” Various studies claim that we receive more than 3000 (some say as high as 5000) marketing messages per day. To rise above that volume of noise is challenging at best and nearly impossible at worst. A small business with a limited advertising budget can hardly compete with the unlimited budgets of the big box stores and Wall Street ad agencies, especially in the arenas they already own. But, you can build your own arena and be the single champion.
The power of advertising to your audience, in a social network environment, is that they have subscribed, or connected to you, specifically for the purposes of receiving your message. Not only do they want your message, they are willing to go out and retrieve that message on their own. All you have to do is make it available to them. Think about the piles of junk mail and SPAM emails you receive daily. If you are anything like me, you can spot it almost immediately and you toss it just as quickly, in bulk, without a second thought. Why do we toss it? We didn’t want it in the first place, so we are not compelled to consider its value to us. On the other hand, when you receive your weekly copy of the Business Press, or your monthly copy of Entrepreneur, you read it. Why? You subscribed and you know there is relevance to your life and business. Create your own network, encourage your customers to join and then deliver them hard hitting information that is timely and with offers they will not want to pass up.